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Shares in COVID-19 vaccine developer Valneva lengthen fall By Reuters

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© Reuters. FILE PHOTO: The brand of French-Austrian biotech agency Valneva is seen exterior their headquarters in Vienna, Austria, December 16, 2021. REUTERS/Lisi Niesner

PARIS (Reuters) – Shares in biotech firm Valneva fell once more on Wednesday, declining for the seventh day in a row because of a rising perception amongst buyers that the COVID-19 Omicron variant would possibly reduce the necessity for mass vaccination.

At 0945 GMT, Valneva shares had been down 3% at 17.10 euros, which means the inventory has now misplaced near 40% since its Dec. 27 shut of 26.38 euros.

It did achieve greater than 200% a 12 months in 2021 and 2020 as Valneva’s COVID-19 vaccine candidate got here more and more nearer to approval. It’s nonetheless awaiting a inexperienced mild for its shot within the European Union and Britain.

“The decline of the share value appears to be principally pushed by retail buyers who suppose that there will probably be no want of a brand new vaccination marketing campaign after the Omicron wave”, a Paris-based analyst mentioned.

Firms whose COVID-19 vaccines have already been accepted have additionally seen their shares dip for the reason that begin of the 12 months, with Pfizer (NYSE:) shedding 7.65% over the past two days and Moderna (NASDAQ:) down 8.2%.

Preliminary information in varied international locations appear to recommend that Omicron — probably the most contagious of all of the COVID variants thus far with new instances at document ranges in lots of international locations — is much less prone to ship contaminated individuals to hospital.

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