Valneva's 2023 Revenues €153.7M, Down From €361.3M YoY; Product Sales Grew 26% YoY To €144.6M
Portfolio Pulse from Benzinga Newsdesk
Valneva reported 2023 revenues of €153.7M, a decrease from €361.3M in the previous year. Product sales grew 26% YoY to €144.6M, surpassing pre-pandemic levels by 12% and showing a 63% increase excluding COVID-19 vaccine sales. The company's cash position was €126.1M at the end of 2023, not including the recent sale of the Priority Review Voucher for $103M. Significant payments were made for the Phase 3 Lyme disease study, with costs expected to be completed in H1 2024.
February 15, 2024 | 6:33 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Valneva's 2023 revenue decreased to €153.7M from €361.3M, but product sales grew by 26% to €144.6M. The cash position was strong at €126.1M, excluding the $103M from the PRV sale.
The decrease in overall revenue for Valneva could be seen negatively by investors, but the significant growth in product sales and a strong cash position, excluding the PRV sale, suggest a positive outlook for the company's core business and financial health. The completion of significant payments for the Phase 3 Lyme disease study indicates ongoing investment in future growth, which could balance investor sentiment in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100