(CercleFinance.com) — Valneva said 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 forecasts for 2022, starting from the objective of a turnover of between 340 and 360 million euros.
Its research and development (R&D) spending estimate has been revised downwards to a range of €95-110 million, up from €120-135 million previously.
In a statement released ahead of the meeting, Thomas Lingelbach, the group’s chief executive, shared his vision of transforming 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 investigational Lyme disease vaccine developed with Pfizer, for which Phase 3 recruitment is currently underway.
The lab will also push its chikungunya virus vaccine candidate, for which a registration application is being finalized in the United States.
Valneva also wishes to highlight its vaccine projects against human metapneumovirus (hMPV), a respiratory pathogen, and its second-generation prophylactic vaccine against Epstein-Barr virus.
In its press release, the company indicates that it has sufficient liquidity to achieve its strategic objectives, with €261 million of liquidity at the end of September, a figure that does not include the €102.9 million obtained as part of a recent investment .
Just before 11:00 the shares fell by 0.4% after gaining just 4% at the start of the session. It’s still down over 70% year-to-date.
