Valneva reports first quarter 2024 financial results and provides corporate updates

Valneva reports first quarter 2024 financial results and provides corporate updates 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 strong r&d execution single-shot chikungunya vaccine ixchiq® recommended by acip and adopted by u.s. cdc3; regulatory processes with the european, canadian and brazilian authorities on track; six-month data for phase 3 adolescent study of ixchiq® to be reported shortly and label extensions to be submitted based on results; enrolment of children for pediatric phase 2 study on track; primary vaccinations for all participants in the valor lyme disease phase 3 trial expected to be completed in q2; phase 1 clinical trial for second-generation zika vaccine candidate initiated4.
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