Valneva lowered its annual revenue forecast on Wednesday, citing an unfavorable trend in the adoption of travel vaccines in its key markets linked to geopolitical factors and predicting a reduction in its workforce.
At the Paris stock exchange, Valneva’s stock was stable around 07:25 GMT after dropping by about 10% at the opening, compared to a 0.2% gain for the SBF 120 index at the same time.
The company now expects product sales in 2026 to be between 135 million and 150 million euros, compared to a previous range of 145 million to 160 million euros. This leads to a new revenue forecast of between 145 million and 160 million euros, compared to the previous estimate of 155 million to 170 million euros.
Analyst Mohamed Kaabouni from Portzamparc noted that catching up seems difficult for the current financial year. Valneva also announced a new project to reorganize its activities to optimize operations, including a 10 to 15% reduction in its workforce globally.
The company stated that these initiatives should result in a significant reduction of approximately 25% to 35% of operational costs in 2026. Mohamed Kaabouni believes that the organizational plan is necessary and confirms that Valneva needs a major catalyst.
Total revenue for the first quarter was 30.9 million euros, down from 49.2 million euros a year earlier, reflecting a decline in third-party product sales and a delay in deliveries to the US Department of Defense.
(Augustin Turpin, edited by Blandine Hénault and Benoit Van Overstraeten)
