(CercleFinance.com) – Valneva fell by more than 3% and therefore suffered one of the largest drops in the SBF120, sanctioned for a net loss doubled to 171.5 million euros for the first half of 2022, as well as a lowering of its annual forecasts.
The vaccines company saw its adjusted EBITDA loss widen 70% to 136 million euros, despite total revenue nearly doubling to 93.2 million euros thanks mainly to a near-quadrupling of revenue other than product sales.
Valneva has also indicated that it is only counting on a turnover of 340-360 million euros for 2022, against 430-590 million in the previous target range, while its R&D costs will amount to 120-135 million, mainly allocated to VLA1553 and VLA15.
‘The market seems to have already priced in all the bad news related to VLA2001. The company should therefore benefit from a more positive newsflow over the next few months”, nevertheless judges Oddo BHF, which keeps its opinion “neutral” and its target price of 17 euros.