Valneva anticipates “substantial growth”

“In the next 12 to 36 months, we expect substantial growth for Valnevasupported by the potential commercialization of two other vaccines”said Thomas Lingelbach, chairman of the management board of Valneva, quoted in a press release published ahead of an investor day.

The biotech recalled that it had sufficient cash “to execute its strategic objectives”with €261 million in cash at the end of September which does not include the €102.9 million in gross proceeds from its recent capital increase.

The company reiterated its financial forecast for 2022, namely a total turnover of 340 million to 360 million euros and a drop in its R&D expenses between 95 million and 110 million euros this year, against 120 to 135 million euros previously expected.

Valneva clarified that the presentations made during its investor day on the advanced clinical portfolio and some of the preclinical vaccine candidates will include VLA15, its Lyme disease vaccine candidateVLA1553, its candidate chikungunya virus vaccineVLA1554, a vaccine candidate targeting human metapneumovirus (hMPV), and VLA2112, a candidate aimed at developing a second-generation prophylactic vaccine against Epstein-Barr virus.