Valneva reports half year 2024 financial results and provides corporate updates

First-half sales performance in line with full-year 2024 guidance total revenues of €70.8 million, including product sales of €68.3 million, in line with anticipated supply and sales phasing net profit of €34.0 million, including proceeds from prv sale operating profit of €46.7 million compared to an operating loss of €35.0 million in the first half of 2023 cash position of €131.4 million  substantially lower cash burn expected in the second half of 2024 as valneva completed its cost contributions to the agreed r&d budget for its partnered lyme disease program in the second quarter significantly extended cash runway with update of debt financing agreement1 full-year 2024 financial guidance confirmed expected total revenues between €170 million and €190 million, including €160 million to €180 million of product sales expected r&d investments between €60 million and €75 million expected other income between €100 million and €110 million, including €95 million from the prv sale strategic pipeline expansion, strong clinical and regulatory execution         exclusive worldwide license for s4v shigella vaccine candidate, adding an attractive phase 2 clinical asset to valneva's r&d pipeline without impacting full-year or mid-term financial guidance2 additional marketing authorizations for single-shot ixchiq® granted in europe and canada ahead of initial guidance; ongoing regulatory reviews in the uk and brazil; recommended by acip and adopted by u.s. cdc3 new cepi grant4 of $41.3 million contributes significantly to phase 4 costs and other studies supporting broader access to the world's first chikungunya vaccine reported positive six-month data for phase 3 adolescent study of ixchiq® 5; expects to submit label extensions for 12 to 17 years old in the u.s., europe and canada in the second half of 2024 ixchiq® two-year antibody persistence data published in the lancet infectious diseases ixchiq® pediatric phase 2 study fully enrolled completed primary vaccinations (three doses) of valor lyme disease phase 3 trial participants6 initiated phase 1 clinical trial for second-generation zika vaccine candidate7 financial information (unaudited results, consolidated per ifrs) € in million 6 months ended june 30,   2024 2023 total revenues 70.8 73.7 product sales 68.3 69.7 net profit / loss 34.0 (35.0) adjusted ebitda8 56.2 (28.3) cash                 131.4                204.4 saint-herblain (france), august 13, 2024 – valneva se (nasdaq: valn; euronext paris: vla), a specialty vaccine company, today reported its consolidated financial results for the first half of the year, ended june 30, 2024. the half year financial report, including the condensed consolidated interim financial report and the half year management report, is available on the company's website (financial reports – valneva).
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