Valneva's share price rose on Monday after the Canadian Medicines Agency approved the commercialization of the French laboratory's chikungunya vaccine.

The group, which began marketing its Ixchiq vaccine in the United States this year, said in a press release that it planned to sell the first doses in Canada during the fourth quarter of 2024.

On the Paris Bourse, at around 08:00 GMT, Valneva shares were up 7.2% at 3.33 euros, compared with a 0.5% gain for the SBF 120 index at the same time.

"This is very good news, confirming Ixchiq's potential", says Portzamparc analyst Mohamed Kaabouni.

In a note, he adds that this announcement comes shortly after favorable recommendations from the Committee for Medicinal Products for Human Use, which should pave the way for market authorization of Valneva's vaccine in Europe as early as the third quarter of 2024.

No antiviral treatment is available for chikungunya, and the best way to protect yourself against the disease until now has been to avoid mosquito bites. (Written by Augustin Turpin with Mathias de Rozario, edited by Blandine Hénault)