Valneva SE (NASDAQ:VALN) stock is surging on Friday after the company and its partner Pfizer Inc.

(NYSE:PFE) announced that the European Medicines Agency (EMA) has validated the Marketing Authorization Application (MAA) for PF-07307405, their Lyme disease vaccine candidate.

The EMA will now commence its assessment of the application.

Clinical Trial Results The application for PF-07307405 is supported by encouraging efficacy data from the Phase 3 VALOR clinical trial.

The trial evaluated the vaccine candidate's ability to prevent Lyme disease in individuals aged five and older.