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May 19, 2022, 8:39 a.m. EDT

Valneva says the European Medicines Agency accepted application for its COVID-19 vaccine

U.S.-listed shares of Valneva SE (NAS:VALN) (PAR:FR:VLA) jumped 11.5% in premarket trading on Thursday after the company said that the European Medicines Agency has accepted the application of its COVID-19 vaccine candidate. If the experimental shot receives a positive recommendation from the EMA's Committee for Human Medicinal Products, the company said it expects a decision in June. The European Commission then decides whether to authorize the vaccine. Valneva's vaccine is an inactivated, whole-virus shot that was tested in clinical trials in Europe. Valneva's stock has slid 62.1% so far this year, while the broader S&P 500 (S&P:SPX) has declined 17.7%.

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