PARIS (Reuters) –Valneva reports positive Phase III results for VLA2001, its adjuvanted COVID-19 candidate vaccine. The news comes after Britain cancelled a large deal to acquire its shot.

Valneva reported that its most recent trial, which involved 4,012 people aged 18 and over across 26 sites in Britain, showed the vaccine generated a stronger immune response than AstraZeneca’s shot. It also revealed a lower incidence of side effects.

Valneva is one of a few vaccine developers who are testing vaccines against vaccines that have been approved by regulators. This allows them to give vaccines to volunteers rather than giving them a placebo.

Thomas Lingelbach Chief Executive of Valneva, stated that “these results confirm the advantages associated with inactivated entire virus vaccines.” He also said that Valneva believed it could make a significant contribution to combating COVID-19.

Valneva stated that it is preparing to conduct trials with children aged 5-12 and for a Valneva sponsored trial to assess VLA2001’s performance in people who are in desperate need of an COVID-19 booster shot.

After Britain pulled out of a deal for 100 million doses, the shares plummeted. This was partly due to concerns over when approval would be granted for Valneva’s vaccine.

Valneva continues to expand the testing of the VLA2001 COVID-19 candidate vaccine and is still in discussions with the European Commission about a possible contract.