A Valneva laboratory (photo credit: Valneva Group / )
(CercleFinance.com) – Valneva posted an adjusted net loss of 99.1 million euros for the first nine months of 2022, compared to 245.9 million over the same period last year, while its loss adjusted EBITDA fell from 227.6 to 38 million euros.
The vaccine company’s total revenue was 249.9 million as of September 30, up nearly 3.5 times from 2021, growth driven primarily by revenue other than product sales.
It benefited from the recognition of revenues linked to previous contracts for the supply of vaccines against Covid-19, while sales of non-Covid-19 products recorded double-digit growth (+11.2%).
Valneva reiterates its annual forecast of total revenue between 340 and 360 million euros, but now forecasts a drop in R&D expenses which should be between 95 and 110 million euros, against 120 and 135 million previously communicated .