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BRIEF-Valneva reduces Q1 net loss to 1.7 million euros
May 11, 2017 / 5:15 AM / 6 months ago

BRIEF-Valneva reduces Q1 net loss to 1.7 million euros

May 11 (Reuters) - Valneva SE:

* Q1 NET LOSS REDUCED TO €1.7 MILLION ($1.85 million) IN Q1 2017 COMPARED TO A NET LOSS OF €5.0 MILLION IN Q1 2016

* TOTAL REVENUES AND GRANTS OF €29.1 MILLION IN Q1 2017 (VERSUS €24.7 MILLION IN Q1 2016) DRIVEN BY A STRONG INCREASE IN VACCINE SALES

* VALNEVA CONFIRMS IT EXPECTS 2017 OVERALL IFRS REVENUES TO REACH €105 TO €115 MILLION, REFLECTING UP TO 17% TOTAL REVENUE GROWTH COMPARED TO 2016, DRIVEN MAINLY BY IXIARO /JESPECT AND DUKORAL SALES

* THE COMPANY CONFIRMS IT INTENDS TO INVEST BETWEEN €21 MILLION AND €23 MILLION IN RESEARCH AND DEVELOPMENT IN 2017, CORRESPONDING TO APPROXIMATELY 20% OF ANNUAL REVENUES;

* VALNEVA CONFIRMS IT EXPECTS AN EBITDA OF €5 TO €10 MILLION IN 2017

* EBITDA OF €3.4 MILLION AND OPERATING PROFIT OF €0.5 MILLION IN Q1 2017 COMPARED TO AN OPERATING LOSS OF €2.7 MILLION IN Q1 2016; Source text for Eikon: Further company coverage: ($1 = 0.9205 euros) (Gdynia Newsroom)

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