Shares of a specialty vaccine company Valneva SE (VALN) have risen 11.25% in pre-market trading hours on Wednesday to $53.40. VALN stock declined -0.95% in the last trading session to close at $48.00. The Valneva share price ranged between $46.66 and $48.7799 on Wednesday. The VALN stock traded 83023.0 shares, which was lower than its daily average of 122.87K shares over the past 100 days. In the last five days, VALN’s shares have dropped by -25.64%, while they have gained 18.08% in the past month. VALN stock is rising in the premarket session following the signing of a vaccine contract with Bahrain.

What agreement has Valneva made?

Infectious diseases with significant unmet medical needs are the focus of Valneva’s developing and commercializing prophylactic vaccines. The VALN team develops prophylactic vaccines that address these diseases using its highly specialized and targeted approach to vaccine development. In addition to successfully commercializing two vaccines, VALAN has made rapid progress in developing candidates against Lyme disease, the chikungunya virus and COVID-19 into the clinic.

As part of a new agreement with the Kingdom of Bahrain, Valneva (VALN) will supply the country with one million doses of its inactivated COVID-19 vaccine candidate VLA2001. This is the second purchase agreement VALN has secured for VLA2001 since Cov-Compare’s optimistic Phase 3 results were reported.

• Currently, VLA2001 is the only whole virus, inactivated, adjuvanted vaccine candidate being studied in Europe against COVID-19.
• At-risk populations are intended to receive this vaccine for prevention of carriage and symptoms, as well as potential routine vaccination against new variants during the ongoing pandemic.
• The VLA2001 vaccine is also suitable for boosting, as previous studies have shown that repeated booster vaccinations are effective in combination with the whole virus inactivated vaccines.
• VALN’s VLA2001 vaccine is produced on Vero-cell’s established platform, which uses the same technology as the licensed Japanese encephalitis vaccine, IXIARO.
• The Bahraini National Health Regulatory Authority (NHRA) is in the process of reviewing VALN’s rolling submission.
• Frank Grimaud, Chief Business Officer at Valneva appreciated the confidence and trust Bahrain has shown in VALN vaccine and looked forward to working with them to help address the pandemic evolution in the Middle East.
• VALN expects deliveries to begin in the first quarter of 2022, pending regulatory approval.
• With the signing of this agreement, Bahrain has once again established itself as a leader in adopting new health care measures to safeguard citizens and residents against the threat of COVID-19.
• Bahraini citizens and residents will have the choice of a variety of vaccines in Bahrain that will positively impact driving vaccination rates up.
• Currently, 93% of Bahrain’s eligible population is fully vaccinated.

Other milestones reached by VALN include

A European Commission advanced purchase agreement for up to 60 million doses of VLA20011 was signed by Valneva (VALN) last month. VALN reported positive Phase 3 results for VLA2001 in October of this year.