Valneva SE

Latest Results (20.08.2024):

First-Half Sales Performance in Line with Full-Year 2024 Guidance

Valneva SE reported total revenues of €70.8 million for the first half of 2024, including product sales of €68.3 million. This performance aligns with the company's anticipated supply and sales phasing for the year.

Net Profit and Operating Profit

Valneva SE achieved a net profit of €34.0 million in the first half of 2024, which includes proceeds from the sale of a Priority Review Voucher (PRV). The company also reported an operating profit of €46.7 million, a significant improvement compared to an operating loss of €35.0 million in the first half of 2023.

Cash Position and Cash Burn

As of June 30, 2024, Valneva SE had a cash position of €131.4 million. The company expects a substantially lower cash burn in the second half of 2024, having completed its cost contributions to the agreed R&D budget for its partnered Lyme disease program in the second quarter.

Full-Year 2024 Financial Guidance Confirmed

Valneva SE has confirmed its full-year 2024 financial guidance, expecting total revenues between €170 million and €190 million, including €160 million to €180 million of product sales. The company also anticipates R&D investments between €60 million and €75 million and other income between €100 million and €110 million, including €95 million from the PRV sale.

Strategic Pipeline Expansion and Regulatory Execution

Valneva SE has expanded its strategic pipeline by acquiring an exclusive worldwide license for the S4V Shigella vaccine candidate. The company also reported additional marketing authorizations for its single-shot IXCHIQ® vaccine in Europe and Canada, ahead of initial guidance, and ongoing regulatory reviews in the UK and Brazil.