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Valneva FY Revenues Climb 216%

Growth attributable to revenues from terminated UK COVID-19 vaccine supply agreement for non-refundable payments received for duration of the contract.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Valneva
FY Revenues: €348.1 million (+216%)
Comments: Product sales decreased by 4.5% to €63.0 million in 2021 as the travel industry continued to be impacted by the COVID-19 pandemic. IXIARO/JESPECT sales decreased by 6.9% to €45.1 million. DUKORAL sales declined by 81.7% to €2.4 million in 2021.

Third Party product sales grew by 271.3% to €15.4 million in 2021 driven by incremental sales related to Valneva’s distribution agreement with Bavarian Nordic for the sales of Rabipur/RabAvert and Encepur, which commenced in certain territories in 2021. Other Revenues, including revenues from collaborations, licensing and services, amounted to €285.1 million in 2021 compared to €44.4 million in 2020, attributable to revenues recognized in relation to the terminated UK COVID-19 vaccine supply agreement for non-refundable payments received during the duration of the contract.

Inactivated COVID-19 Vaccine Candidate VLA2001: achieved Positive pivotal Phase 3 results; Advance Purchase Agreement approved by European Commission for up to 60 million doses in 2022 and 2023; Initiation of rolling submissions to the European Medicines Agency as well as the UK and Bahraini agencies (MHRA and NHRA, respectively); Positive homologous booster results between seven to eight months after primary vaccination; and confirmed neutralization of Omicron and Delta variants in lab studies.

The company raised approximately $210 million with successful Nasdaq IPO and concurrent private placement in Europe and successful follow-on equity offering in the U.S. and Europe.

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