Valneva SE (NASDAQ:VALN) is trading significantly higher Wednesday following results from an initial laboratory study, which demonstrated that serum antibodies induced by three doses of Valneva's COVID-19 vaccine candidate, VLA2001, neutralize the omicron variant.

Samples from 30 participants in the Phase 1/2 trial of Valneva's COVID-19 candidate were used in a pseudovirus assay to analyze neutralization of the ancestral SARS-CoV-2 virus as well as the delta and omicron variants.

Valneva said 100% of participants showed neutralizing antibodies against the ancestral virus and delta variant, while 87% showed neutralizing antibodies against the omicron variant.

"We are extremely pleased with these results, which confirm the potential for broad-spectrum protection of our inactivated, adjuvanted whole virus vaccine and its ability to address currently circulating variants of concern," said Juan Carlos Jaramillo, chief medical officer of Valneva.

Valneva continues to provide data to regulatory authorities. The company said it expects to complete submissions in time to receive potential regulatory approvals in the first quarter of 2022.

Valneva is a specialty vaccine company focused on developing life-saving vaccines.

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VALN Price Action: Valneva has traded as low as $24.15 and as high as $67.84 over a 52-week period.

The stock was up 39.5% at $45.39 at time of publication.

Photo: fernandozhiminaicela from Pixabay.