Valneva slumps after Lyme disease vaccine's late-stage trial misses target

Valneva SE

23/03/2026 11:30

** Shares in Valneva VLS.PA slump 29% before being automatically halted from trading, after the French drugmaker and U.S. peer Pfizer PFE.N missed a pre-determined statistical criterion in a late-stage trial of a key experimental vaccine

** The Lyme disease vaccine, called PF-07307405, missed the primary goal in the first analysis due to fewer-than-anticipated Lyme cases being accrued in the trial leaving a small number of data points

** A second planned analysis met the bar, adding to Pfizer's confidence "in the vaccine's potential", the companies say

** Valneva shares are on track for their biggest daily drop since late August if the losses hold

(Reporting by Alessandro Parodi)

((Alessandro.Parodi@thomsonreuters.com;))