(CercleFinance.com) – Valneva said on Tuesday it expects “substantial” growth in its business over the next 12 to 36 months with the potential commercialization of two new vaccines.
During an investor day to be held today in New York, the company reiterated its financial forecast for 2022, starting with the objective of a turnover of between 340 and 360 million euros. euros.
Its estimate of research and development (R&D) expenditure has been revised downwards to a range of 95 to 110 million euros, against 120-135 million euros previously.
In a statement released ahead of the meeting, Thomas Lingelbach, the group’s chief executive, shared his vision to transform Valneva into a “globally recognized leader in the vaccine industry”.
During the event, Valneva intends to provide an update on its clinical portfolio and some of its preclinical vaccine candidates, such as its experimental Lyme disease vaccine developed with Pfizer, for which Phase 3 recruitment is currently underway.
The laboratory will also insist on its candidate vaccine against the chikungunya virus, for which a request for a registration file is being finalized in the United States.
Valneva also wishes to highlight its vaccine projects targeting the human metapneumovirus (hMPV), a respiratory pathogen, and its second generation prophylactic vaccine against the Epstein-Barr virus.
In its press release, the company indicates that it has sufficient cash to execute its strategic objectives, with 261 million euros in cash at the end of September, a figure which does not include the 102.9 million euros obtained in the as part of a recent placement.
Shortly before 11:00 am, the title fell by 0.4% after having taken not far from 4% at the start of the session. It still loses more than 70% since the beginning of the year.