Valneva has decided to voluntarily withdraw its applications for market authorization and clinical trials in the United States for its chikungunya vaccine, Ixchiq.

Stifel believes that the withdrawal of the Biologics License Application (BLA) and IND for Ixchiq in the United States has no impact on its model, as the analyst had already removed U.S. sales from forecasts in August 2025, following the suspension of the vaccine's approval.

Stifel reiterates its buy recommendation and its price target of 10 euros ahead of the publication of phase III results for Lyme disease vaccine VLA15, scheduled for the first half of 2026.

"We believe Valneva shares offer one of the most attractive risk/reward profiles in the European biotech sector," the research firm notes.