Valneva Posts 96% Revenue Growth in 2015; Forecasts 2016 Revenues of €90 to €100 Million

The Company today announced its unaudited FY 2015 revenues, unaudited year-end cash balance and 2016 outlook

  • Revenues and grants increased by 96% year-on-year and amounted to €83.3 million in 2015 (vs €42.4 million in 2014); Q4 2015 revenues and grants were €22.7 million (vs €13.1 million in Q4 2014);
  • Revenue growth driven mainly by the inclusion of acquired DUKORAL® vaccine and activities in Sweden as well as continued strong product sales of IXIARO®/JESPECT®;
  • Cash position at the end of 2015 was €42.6 million.

2016 Outlook

  • Revenues, including grants, expected to reach €90 to €100 million. This includes product sales in the expected range of €70 to €80 million, reflecting up to 30% growth compared to 2015 product sales;
  • Revenue growth to be driven by expected IXIARO®/JESPECT® product sales of approximately €50 million (from €30.6 million in 2015);
  • Expected gross margin on product sales of approximately 50%;
  • EBITDA loss expected to be reduced to less than €5 million.

Significant pipeline catalysts in 2016

  • Valneva expects to release the results of its Pseudomonas aeruginosa Phase II/III trial in the second quarter of 2016;
  • The Company reported positive Phase II top-line data for its Clostridium difficile vaccine and aims for a Phase III partnership agreement in 2016;
  • Valneva’s new Lyme borreliosis vaccine candidate is expected to enter Phase I clinical trials in the second half of 2016.

More facts and details

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