(Boursier.com) — Valneva rose 1% to 6.10 euros this Thursday, while the group published 106.1 million product sales over 9 months, an increase of 42.6% compared to the first nine months of 2022. Sales of IXIARO and DUKORAL benefited from the continued recovery of the traveler market. Total turnover is 111.8 million euros over the first 9 months of 2023. The cash position stands at 171.3 million euros as of September 30.
The group recalls that a marketing authorization application (MAA) is currently subject to priority review by the United States Food and Drug Administration (FDA) with a target date for completing this review. set for the end of November;
An application for MAID is also subject to review by Health Canada;
An application for marketing authorization was submitted to the European Medicines Agency (EMA) in October 20232; an accelerated review was granted by the EMA Committee for Medicinal Products for Human Use (CHMP).
Updated financial outlook for the 2023 financial year linked to lower than anticipated ‘R&D’ spending
Total turnover and other operating income is expected between 220 million and 260 million euros, including:
130 million to 150 million product sales
90 million to 110 million in other operational revenue (assuming a sale of the priority review voucher received in connection with a potential approval of VLA1553 before the end of the year).
‘R&D’ spending is now expected between 60 million and 70 million (previously between 70 million and 90 million); primarily due to lower than anticipated costs related to the closure of COVID-19 program activities.
Portzamparc speaks of good commercial dynamics. In the short term, the catalyst is clearly on chikungunya. On this occasion, the analyst raises his target price from 9.5 to 10.1 euros while remaining a buy on the file.
©2023 Boursier.com