Saint-Herblain, France — August 12, 2025 — Leads & Copy — Valneva SE (Nasdaq: VALN; Euronext Paris: VLA) reported its condensed consolidated financial results for the first half of the year, ended June 30, 2025, and confirmed its 2025 financial guidance.
Total revenues reached €97.6 million, a 37.8% increase from €70.8 million in the first half of 2024. Product sales rose by 33.3% to €91.0 million compared to €68.3 million in the same period last year. The company reported a net loss of €20.8 million, compared to a net profit of €34.0 million in the first half of 2024, which included one-time net proceeds of €90.8 million from the sale of a Priority Review Voucher (PRV). Operating cash burn was significantly reduced to €10.9 million in the first half of 2025 from €66.3 million in the first half of 2024. Cash and cash equivalents stood at €161.3 million as of June 30, 2025.
Valneva reaffirmed its financial outlook for 2025, expecting product sales to grow to €170-180 million and total revenues to reach €180-190 million. R&D investments are projected between €90-100 million. The company also continues to focus on cash management, targeting more than 50% lower operating cash burn compared to the prior year.
Key updates include finalizing a new $32.8 million IXIARO® supply contract with the U.S. Department of Defense, signing an exclusive agreement with CSL Seqirus to market and distribute Valneva’s proprietary vaccines in Germany, and completing Phase 3 vaccinations for the VALOR Lyme disease study. The company also responded to the French government’s call for vaccine supply of IXCHIQ® and secured additional marketing authorizations for IXCHIQ® in the United Kingdom and Brazil.
Peter Bühler, Valneva’s Chief Financial Officer, said the company is strategically focused on growing commercial sales and effectively managing cash. He noted double-digit sales growth and the addition of new healthcare investors, strengthening the company’s financial position.
Laetitia Bachelot-Fontaine
VP, Global Communications and European Investor Relations
M +33 (0)6 4516 7099
Laetitia.bachelotfontaine@valneva.com
Joshua Drumm, Ph.D.
VP, Global Investor Relations
M +001 917 815 4520
joshua.drumm@valneva.com
Source: Valneva SE
