Valneva shares fall after FDA suspends Ixchiq vaccine license citing new safety reports, raising questions over future U.S. sales and regulatory review.

The US Food and Drug Administration (FDA) announced late last week that it has suspended the license for French drugmaker Valneva's chikungunya vaccine, saying that continued administration of the vaccine to the public would pose a danger to health.

Shares of French drugmaker Valneva slumped more than 20% on Monday after the U.S. Food and Drug Administration suspended the licence for its chikungunya vaccine, Ixchiq, with immediate effect, citing serious safety concerns.