French biotech company Valneva SE (VALN,VLA.PA,VLA.VI) reported Wednesday wider net loss in fiscal 2025, mainly on the absence of prior year's gain and lower product sales.
Looking ahead, the company said it expects 2026 to be a potentially transformational year with Phase 3 Lyme disease data expected in the first half of the year.
For 2026, total revenues are expected to range between 155 million euros and 170 million euros, including product sales between 145 million euros to 160 million euros.
The lower product sales guidance in 2026 versus the prior year reflects continued growth of established commercial brands, offset by the planned wind-down of thirdparty sales, as previously guided.
In fiscal 2025, net loss amounted to 115.19 million euros, compared to a net loss of 12.25 million euros in 2024. Loss per share was 0.68 euro, compared to loss of 0.08 euro last year.
The prior year's result was benefited from a 90.8 million euros net gain related to the sale of the Priority Review Voucher or PRV received for IXCHIQ.
Operating loss was 82.06 million euros, compared to prior year's profit of 13.33 million euros. Adjusted EBITDA was negative 59.4 million euros, compared to positive 32.9 million euros last year.
Total revenues grew to 174.66 million euros from 169.58 million euros last year.
Product sales declined to 157.91 million euros from last year's 163.25 million euros in 2024, reflecting the planned wind-down of third-party sales. Proprietary product sales increased by 9 percent at constant exchange rate.
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