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The U.K. Canceled a Vaccine Deal. Here’s the Fallout for Valneva and 3 Other Stocks.
Valneva‘s American depositary receipt dropped almost 40% after the French company said the U.K. government had canceled a deal to buy 100 million doses of its experimental Covid-19 vaccine.
Valneva’s (ticker: VALN) ADR was down 38.5% in premarket trading. In a statement issued early Monday, the company said that the U.K. government had terminated the deal after claiming that Valneva had not lived up to its obligations.The vaccine developer said it “strenuously” denied the charge.
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