Valneva (VALN) has released an update.
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Valneva SE is initiating a private placement of approximately 60 million euros worth of new ordinary shares to fund its vaccine development programs, including clinical trials for chikungunya, Shigella, and Zika vaccines, and to further commercialize its chikungunya vaccine IXCHIQ®. The company is offering the shares at a discounted price and expects to use the proceeds to support its growth and operational business until milestone revenues from its Lyme disease program contribute to profitability. This financing strategy is aimed at strengthening Valneva’s financial position as it advances its pipeline of vaccine candidates.
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