Valneva FY21 Net Loss Widens, Revenues Surge On COVID-related Revenues; Sees Strong Revenues In FY22

(RTTNews) - Valneva SE (VALN), a specialty vaccine company, reported Thursday that its fiscal 2021 net loss was 73.4 million euros, compared to a net loss of 64.4 million euros in 2020.

Operating loss was 61.4 million euros, wider than prior year's loss of 55.1 million euros. EBITDA loss in 2021 was 47.1 million euros, compared to loss of 45.2 million euros a year ago.

Total revenues surged 216 percent to 348.1 million euros from 110.3 million euros last year. The latest results included 253.3 million euros of COVID-related revenues under the terminated UK agreement.

Product sales decreased 4.5% to 63.0 million euros.

Looking ahead for fiscal 2022, the company expects total revenues between 430 million euros to 590 million euros, including 350 million euros to 500 million euros of COVID-19 vaccine sales subject to regulatory approvals and deliveries of VLA20011.