Shares in COVID-19 vaccine developer Valneva extend fall

Shares in biotech company Valneva fell again on Wednesday, declining for the seventh day in a row due to a growing belief amongst investors that the COVID-19 Omicron variant might lessen the need for mass vaccination. Valneva shares were down 3% at 17.10 euros, meaning the stock has now lost close to 40% since its Dec. 27 close of 26.38 euros. It did gain more than 200% a year in 2021 and 2020 as Valneva's COVID-19 vaccine candidate came increasingly closer to approval. It is still awaiting a green light for its shot in the European Union and Britain.