Shares of Valneva SE VALN, -19.80% fell 13.3% in premarket trading on Monday after the company said it proposed a remediation plan to the European Commission after learning of plans to terminate the purchase agreement for Valneva's COVID-19 vaccine candidate. If the agreement reduces the total amount of vaccine in the order, that will impact the sustainability of the company's vaccine program, the company said. Valneva's vaccine uses a different technology than the mRNA vaccines. It is an inactivated whole virus shot, which has been viewed as an alternative option for people who are concerned about mRNA technology. "We continue to receive messages from people looking for a more traditional vaccine technology and we hope to receive a meaningful order size to further support public health in Europe," Valneva CEO Thomas Lingelbach said in a news release. Valneva's stock has declined 63.9% this year, while the S&P 500 SPX, -3.62% is down 18.1%.
https://www.marketwatch.com/story/valnevas-stock-slides-after-saying-europe-may-not-order-the-companys-covid-19-vaccine-candidate-2022-06-13
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