2025 Outlook

Valneva provides 2025 financial guidance.

Financials & Outlook

Product sales expected to grow to €170-180 million in 2025, driving positive cash-flows for the overall commercial business.
Total revenues expected to reach €180-190 million in 2025.
Total R&D investments expected between €90 – €100 million in 2025, which will be partially offset by grant fundings and anticipated R&D tax credits.
Continued stringent focus on cash management supporting sufficient cash runway to reach key inflection points; targeting more than 50% lower operating cash burn in 2025.

First data readout for Lyme disease Phase 3 VALOR study expected at the end of 2025.
Further chikungunya vaccine approvals, including the first endemic country (Brazil) and adolescent label extensions for IXCHIQ^® in major travel markets.
Initiation of Phase 3 pediatric trial of IXCHIQ^® to support further potential label expansion.
Launch of Phase 2 pediatric study of tetravalent Shigella vaccine candidate in the first half of 2025 and Phase 2b efficacy data from Human Challenge Study (CHIM).
Phase 1 results for Zika vaccine candidate.