Valneva Raised 2024 Product Sales Guidance To €160M-€180M (Prior €150M-€180M); Sees Total Revenues Of €170M-€190M
Portfolio Pulse from Benzinga Newsdesk
Valneva has updated its 2024 financial guidance, raising product sales forecasts to €160M-€180M from the previous €150M-€180M. Total revenues are now expected to be €170M-€190M, up from €153.7M in 2023. This adjustment is due to an improved outlook on IXIARO supply constraints and strong sales of travel vaccines and IXCHIQ. The company also anticipates lower R&D expenses and significant non-dilutive contributions for R&D. Other income is expected to be €100M-€110M, including proceeds from a PRV sale. Valneva projects a lower cash burn in 2024 and expects its commercial business to be cash-flow positive from 2025.
March 20, 2024 | 6:32 am
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Valneva has raised its 2024 financial guidance, indicating strong performance and an optimistic outlook. The company expects higher product sales, reduced R&D expenses, and significant other income, including proceeds from a PRV sale.
The updated financial guidance from Valneva, including higher sales forecasts and lower R&D expenses, suggests a positive outlook for the company's financial health and operational efficiency. The expected increase in total revenues and the projection of becoming cash-flow positive from 2025 are likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
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