Valneva Reports Half Year 2024 Financial Results and Provides Corporate Updates

Valneva SE has announced its financial results for the first half of 2024. Total revenues were €70.8 million, with product sales contributing €68.3 million, aligning with their full-year guidance. The company posted a net profit of €34.0 million, an improvement on the previous year's loss. Operating profit was €46.7 million, compared to a loss of €35.0 million in the first half of 2023.

Valneva's cash position stands at €131.4 million. The company expects a substantially lower cash burn in the second half of 2024, owing to the completion of its cost contributions for its Lyme disease program and an updated debt financing agreement.

The company confirmed its full-year financial guidance, projecting total revenues between €170 million and €190 million. They reported significant developments in their clinical pipeline, including an exclusive license for a Shigella vaccine candidate, additional marketing authorizations for their IXCHIQ® vaccine, and positive data from a Phase 3 adolescent study.