Valneva reports FY results; initiates FY24 outlook
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Contributor since / Followers
Contributor since / Followers
11 months ago
- Valneva press release (NASDAQ:VALN): FY revenue of €153.7M (-57.5% Y/Y), including product sales of €144.6 million.
- Cash position of €126.1 million at December 31, 2023.
- Product sales surpassed pre-pandemic (2019) sales by 12% and 2022 sales by 26%.
- Excluding COVID-19 vaccine sales, product sales grew by 63% compared to 2022.
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First full year 2024 guidance
- Product sales expected between €150 million and €180 million, reflecting continued revenue growth for proprietary products and IXCHIQ’s launch-year sales, despite anticipated supply constraints for third-party products and IXIARO.
- Other income anticipated between €95 million and €105 million, including the PRV sold in early 2024 for €95 million.
- Expected R&D expenses between €65 million and €90 million.