Valneva Q1, update

 Q1 financial highlights

• Total revenues of €32.8 million, including sales of €32.1 million, on track to meet anticipated full year guidance

• Cash position of €176.6 million, including €95 million from sale of Priority Review Voucher (PRV)¹.
  • Significantly extended cash runway with recent update of debt financing agreement²
  • Substantially lower cash burn expected in 2024 as Valneva expects to complete its cost contributions for the Lyme disease Phase 3 study in the second quarter
• Net Profit of €58.9 million, reflecting PRV sale

2024 financial guidance confirmed

• Expected total revenues between €170 million and €190 million, including:
  • €160 million to €180 million of sales driven by growth of Valneva’s proprietary products

• Expected R&D investments between €60 million and €75 million, mostly dedicated to ongoing chikungunya development activities, the Zika trial and advancement of pre-clinical programs
• Expected Other income between €100 million and €110 million, reflecting €95 million in proceeds from the PRV sale

https://www.biospace.com/article/releases/valneva-reports-first-quarter-2024-financial-results-and-provides-corporate-updates/