Valneva SE (VALN,VLA.PA,VLA.VI) Thursday said that it slipped to loss in the first nine months from a profit in the year-ago period, due to the absence of gains from the sale of a Priority Review Voucher in the latter period.
Total revenues, however, rose 9 percent and the company also backed its updated guidance for the year ahead.
The French specialty vaccine company reported net loss of 65.17 million euros or 0.39 euros per share in the first nine months of the year, compared to net profit of 24.74 million euros or 0.17 euros per share in the same period last year. The year-ago period included one-time net proceeds of 90.8 million euros from the sale of a Priority Review Voucher.
According to Valneva SE, pre-tax loss was 63.04 million euros during the first nine months, compared to profit before tax of 20.86 million euros in the previous-year period.
Valneva SE said that total revenues rose 9 percent in the nine-month period to 127.0 million euros from 116.64 million euros in the prior-year period. Product sales touched 119.4 million euros during the given period, up 6.2 percent from last year 112.5 million euros.
Looking ahead, the company reaffirmed its fiscal 2025 outlook, which was revised in October. Valneva SE continues to expect product sales expected between 155 million euros and 170 million euros. Total revenues are projected to touch between 165 million euros and 180 million euros in full-year 2025.
On the NASDAQ, VALN ended Wednesday's trading at $8.70, down $0.21 or 2.4 percent.
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