U.S.-listed shares of Valneva SE /zigman2/quotes/226552993/composite VALN -11.67% /zigman2/quotes/202377434/delayed FR:VLA -8.86% 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 /zigman2/quotes/210599714/realtime SPX -2.01% has declined 17.7%.