Valneva Reports Strong Q1 2019 Operating Results and Advances Key R&D Programs towards Major Milestones

Repeated significant growth in IXIARO® revenues; Lyme disease and chikungunya programs advancing towards major data points; R&D investor day planned for July in New York

Strong financial results in Q1 2019

  • Product sales revenue of €32.8 million in Q1 2019, representing 9% growth at constant exchange rate (CER)
  • Significant growth in IXIARO® revenues (growth of 17% (CER)) in Q1 2019
  • Total revenues were €34.9 million in Q1 2019
  • EBITDA of €8.2 million in Q1 2019
  • Net profit of €4.9 million in Q1 2019
  • Positive operating cash flow of €5.3 million
  • Strong cash position of €68.1 million at the end of March 2019

Two significant R&D milestones reported in Q1 2019

  • Final Phase 1 data and first booster data for Lyme disease vaccine candidate, VLA15
  • Positive Phase 1 interim results for chikungunya vaccine candidate, VLA1553

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