Valneva (VALN) said Wednesday it will consolidate its French operations at its Lyon site and close its Nantes facility as part of an effort to streamline its footprint.
The company said the move will centralize all French activities in Lyon and complete the shift of all research and development to Vienna.
Valneva said it also plans to relocate its registered office back to Lyon and keep its Euronext Paris listing.
Shares of the company were up over 8% in recent Wednesday trading.
Price: 9.45, Change: +0.71, Percent Change: +8.12
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