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Valneva Reports Nine Month Results for 2018, Confirms Guidance, Strengthens Balance Sheet with €50m Financing

On track to deliver on multiple key business and R&D milestones

  • €50 million raised in oversubscribed placement led by blue-chip US healthcare investors.
  • Alignment obtained with FDA and EMA on Lyme vaccine development strategy; Phase 2 initiation on track to commence at the end of the 2018.
  • Phase 1 study of Chikungunya vaccine transitioned into re-vaccination phase. Primary endpoint data expected by the end of the year.
  • Data analysis for Phase 1 study of Zika vaccine candidate initiated. Primary endpoint data expected within the next few weeks.
  • New IXIARO® supply contract with US Department of Defense expected before the end of 2018

On track to deliver against full year revenues and EBITDA guidance

  • FY product sales revenues to exceed €100 million, nine-month product sales revenues of €71.1 million (10% year on year growth at CER1, 5% AER growth).
  • FY revenues and grants of €110 million – €120 million confirmed.
  • FY EBITDA expected in the range of €5 million – €10 million. Nine-month EBITDA at €6.1 million.
  • FY R&D investment now estimated to be at €25 million – €30 million. Nine-month R&D investments at €18.2 million.

About Valneva SE

Valneva is a fully integrated, commercial stage biotech company focused on developing innovative life-saving vaccines.

Valneva’s portfolio includes two commercial vaccines for travelers: IXIARO®/JESPECT® indicated for the prevention of Japanese encephalitis and DUKORAL® indicated for the prevention of cholera and, in some countries, prevention of diarrhea caused by ETEC. The Company has various vaccines in development including a unique vaccine against Lyme disease. Valneva has operations in Austria, Sweden, the United Kingdom, France, Canada and the US with over 450 employees. More information is available at www.valneva.com.

Valneva Investor and Media Contacts

Laetitia Bachelot-Fontaine
Global Head of Investor Relations & Corporate Communications
M +33 (0)6 4516 7099
investors@valneva.com

Teresa Pinzolits
Corporate Communications Specialist
T +43 (0)1 20620 1116
communications@valneva.com

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