Valneva SE (“Valneva” or “the Company”), a leading independent pure play vaccine company, reported today its consolidated financial results for the first half ended June 30, 2016.
- Total revenues and grants grew to €51.4 million in H1 2016 (vs €39.2 million in H1 2015) as IXIARO®/JESPECT® sales doubled to €30.1 million following the successful establishment of the Company’s new marketing and distribution network
- DUKORAL® sales grew to €9.8 million in H1 2016 (vs €8.1 million from the vaccine acquisition date in H1 2015);
- The Company recorded the first royalties from the sales of a human vaccine produced on the EB66® technology in H1 2016
- EBITDA improved to €4.7 million in H1 2016 (vs. a €5.3 million EBITDA loss in H1 2015);
- As expected, high net loss in H1 2016 was driven by non-cash impairment charges on acquired intangible assets following the Pseudomonas clinical results in Q2
- Positive operating cash flow in the second quarter brought cash position to €38.7 million at the end of June 2016 (vs. €33.4 million at the end of Q1 2016)