Why Are Valneva's Shares Trading Higher Monday Premarket?

Valneva SE's VALN COVID-19 vaccine elicits a robust immune response with far fewer side effects than the Oxford/AstraZeneca plc's AZN jab, according to Phase 3 trial results.
Valneva said its latest trial, Cov-Compare, included around 4,000 participants aged 18 and older across 26 trial sites.
Related: Valneva Shares Plunge As UK Terminates COVID-19 Vaccine Contract: What You Need To Know.
Dubbed VLA2001, the vaccine candidate demonstrated superiority against AZD1222 in terms of geometric mean titer for neutralization antibodies and non-inferiority in terms of seroconversion rates in adults aged 30 years and older.
The occurrence of COVID-19 cases (exploratory endpoint) was similar between treatment groups.
Valneva said it was preparing for trials in children aged 5 to 12 and a Valneva-sponsored trial to evaluate VLA2001's performance for those needing a vaccine booster shot.
Valneva has been expanding the trials of its VLA2001 COVID-19 vaccine candidate and remains in talks with the European Commission over a potential contract.
VLA2001 consists of inactivated whole virus particles of SARS-CoV-2, in combination with two adjuvants, alum and Dynavax Technologies Corporation's DVAX CpG 1018.
Related: Valneva Continues To Expand COVID-19 Vaccine Candidate Trials.
Price Action: VALN stock is up 36.8% at $38.38, and DVAX stock is up 6.85% at $18.1 during the premarket session on Monday's last check.
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