Shares of specialty vaccine developer Valneva SE (NASDAQ:VALN) are on the decline in the pre-market session today after the company ended its collaboration with IDT Biologika taking into account order and inventory levels for the VLA2001 vaccine.
The move comes on reduced European Commission order and now, after suspending manufacturing, Valneva will pay €36.2 million in cash and ~€4.5 million in kind to IDT.
Incidentally, VLA2001 is the first COVID-19 vaccine to receive a standard marketing authorization in Europe, and last month, the WHO issued recommendations for its use.
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