Valneva SE (VALN) stock soared 7.25% in pre-market trading on Monday, following the announcement that the company will supply its chikungunya vaccine, IXCHIQ®, to address the rapidly intensifying outbreak on France's Island of La Réunion. The specialty vaccine company has agreed to provide 40,000 doses starting in early April, with an option to supply more, in response to the French government's call for vaccine supply.
The outbreak in La Réunion has seen a significant spike, with 8,600 cases recorded and nearly 3,000 new cases in just one week. This surge has prompted local authorities to implement a Level 4 emergency crisis management plan. Valneva's swift response and ability to supply its recently approved chikungunya vaccine demonstrate the company's readiness to address urgent public health needs, potentially opening up new market opportunities.
Investors are likely responding positively to this development, as it not only showcases the immediate demand for Valneva's IXCHIQ® vaccine but also highlights its potential for use in other chikungunya-affected regions. The company's focus on expanding the vaccine's label and access, including recent partnerships with CEPI and agreements with the Serum Institute of India, further underscores its growth potential in the global vaccine market.
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