Valneva stock jumps as chikungunya vaccine wins Europe approval

Valneva (NASDAQ:VALN) shares jumped 8.4% premarket on Monday after the vaccine company secured marketing authorization in Europe for its chikungunya vaccine, Ixchiq.

Ixchiq is the world’s only licensed chikungunya vaccine and has been approved for the prevention of disease caused by the chikungunya virus in individuals 18 years of age and older.

The approval was unanimously endorsed by EU member states following a stringent assessment by the European Medicines Agency and is supported by data from the pivotal Phase 3 study, which showed a 98.9% seroresponse rate at 28 days with a single vaccination.

The EC decision marks the third approval the company has received for Ixchiq following approval from the U.S. Food and Drug Administration in November 2023 and Health Canada last month.

The company expects to deliver the first doses in Europe in the fourth quarter of 2024.