Posted 6 Dec. 2022 at 7:57 am
PARIS (Agefi-Dow Jones)–The biotechnology company Valneva announced on Tuesday, ahead of an investor day in New York, that it expects “substantial growth” in its activity in the next 12 to 36 months.
“In the next 12 to 36 months, we expect substantial growth for Valneva, supported by the potential commercialization of two other vaccines,” said Thomas Lingelbach, chairman of the management board of Valneva, quoted in a press release.
The biotech recalled that it had sufficient cash “to execute its strategic objectives”, with 261 million euros in cash at the end of September which does not include the 102.9 million euros in gross proceeds from its recent capital increase.
The company reiterated its financial forecast for 2022, namely a total turnover of 340 million to 360 million euros and a drop in its R&D expenses between 95 million and 110 million euros this year, once morest 120 to 135 million euros previously expected.
Valneva said presentations at its investor day on the advanced clinical portfolio and some of the preclinical vaccine candidates will include VLA15, its Lyme disease vaccine candidate VLA1553, its chikungunya virus vaccine candidate VLA1554, a vaccine candidate targeting human metapneumovirus (hMPV), and VLA2112, a candidate aimed at developing a second-generation prophylactic vaccine once morest Epstein-Barr virus.
-Pierre-Jean Lepagnot, Agefi-Dow Jones +33 (0)1 41 27 47 95; pjlepagnot@agefi.fr ed: VLV
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
December 06, 2022 01:57 ET (06:57 GMT)
