Valneva Shares Plunge After US Halts Chikungunya Vaccine

Valneva SE shares plummeted after its shot for a mosquito-borne disease was suspended in the US following an investigation into its adverse effects among older patients.

The Food and Drug Administration ordered the company to stop shipping and selling its chikungunya vaccine in the US immediately, according to a statement Monday. The decision comes as a surprise after the regulator had removed a recommended pause in the use of the vaccine for older patients earlier in August.