(Boursier.com) — Valneva climbs 2.3% to 3.5 euros at midday on the Paris market. The company has reached an agreement with American funds specializing in the health sector Deerfield Management Company and OrbiMed to defer the start date of repayment of its loan by 18 months. The repayment of the first tranche of 100 million dollars will now begin in January 2026 instead of July 2024. The end of repayment of the first tranche of the loan is maintained in the first quarter of 2027. The terms of repayment of the second tranche of 100 million dollars remain unchanged.
Bryan Garnier (‘buy’) says this extension further strengthens the company’s cash position and contributes to the progression towards sustainable profitability expected for years to come thanks to the successful commercial launch of its Lyme disease vaccine candidate, VLA15, expected in 2027. In recent months, the share price has come under some pressure, which the broker considers unfounded given the combination of a well-diversified business portfolio; of VLA15 which the broker considers to be the main driver of value in the future; of the recent sale of PRV for $105 million, which placed the company in a comfortable cash flow position with which BG believes it can achieve sustainable profitability in 2027, subject to no major new spending in R&D; and finally recent positive ACIP recommendations for Ixchiq.
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