Valneva Se · EURONEXT:VLA
Valneva — 9M 2025 Earnings Presentation
23 slides from Valneva's earnings presentation, Nov 20, 2025
Slide 1: Valneva Reports First Nine Months 2025 Financial Results and Provides Corporate Updates
Valneva Reports First Nine Months 2025 Financial Results and Provides Corporate Updates November 20, 2025
Slide 2: Disclaimer
Disclaimer This presentation does not contain or constitute an offer of, or the solicitation of an Certain information and statements included in this presentation are not historical offer to buy or subscribe for, Valneva SE shares to any person in the USA or in any facts but are forward-looking sta
Slide 3: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 3
Slide 4: First Nine Months 2025 Key Highlights
First Nine Months 2025 Key Highlights Total Revenues Cash Position €127.0m €143.5m 8.9% growth despite headwinds & Includes €26.2m net proceeds reduction of third-party sales from strategic ATM transactions1 9M 2025 Successful Debt Significant Reduction in Refinancing2 Operating Cash Burn Enhanced f
Slide 5: First Nine Months 2025 Highlights
First Nine Months 2025 Highlights Fulfilling Unmet Medical Needs ▪ Responded to French government’s call for IXCHIQ® to combat chikungunya outbreaks in La Réunion and Mayotte ▪ Responded to cholera outbreak in Mayotte by supplying doses of DUKORAL ® ▪ Finalized new $32.8 million IXIARO® U.S. Departm
Slide 6: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 6
Slide 7: World's leading Lyme Disease Vaccine Candidate VLA15
World’s leading Lyme Disease Vaccine Candidate VLA15
Slide 8: Lyme Disease Represents A Major Medical Need And Market Opportunity
Lyme Disease Represents A Major Medical Need And Market Opportunity No vaccine is currently available to prevent Lyme disease in humans Annual Burden of Disease Commercial opportunity for Valneva U.S.1 Europe2 U.S. Europe ~476K cases >132K cases 87 million 223 million Severe Manifestations3 Populati
Slide 9: Phase 3: Vaccination Completed; First Data Readout Upcoming
Phase 3: Vaccination Completed; First Data Readout Upcoming Pfizer aims to submit regulatory applications in U.S. and Europe in 20261 ▪ Population: ~9,400 evaluable participants ≥5 years of age at high risk of Lyme disease (LD) (by residence and occupational/recreational activities) in U.S., Canada
Slide 10: A Highly Differentiated single-shot Chikungunya Vaccine IXCHIQ / VLA1553
A Highly Differentiated single-shot Chikungunya Vaccine IXCHIQ® / VLA1553
Slide 11: IXCHIQ: Focused on Expanding Access, Label Extension, Product Differentiation
IXCHIQ®: Focused on Expanding Access, Label Extension, Product Differentiation Robust clinical program supported by CEPI grant1 Post-Marketing Effectiveness2 (Phase 4) To confirm effectiveness following licensure based on an immunological surrogate of protection and to optimize description of the sa
Slide 12: Regulatory Status for IXCHIQ
Regulatory Status for IXCHIQ® IXCHIQ® is indicated for the prevention of disease caused by the chikungunya virus in individuals 12 and older (EU, CA) and 18 years of age and older (UK, Brazil) who are at high risk of exposure to CHIKV FDA and EMA updated the Prescribing Information (PI)/Summary of P
Slide 13: World's Most Clinically Advanced Tetravalent Shigella Vaccine Candidate S4V2
World’s Most Clinically Advanced Tetravalent Shigella Vaccine Candidate S4V2
Slide 14: S4V2: Opportunity to Develop First-in-Class Vaccine for a Life-Threatening Disease
S4V2: Opportunity to Develop First-in-Class Vaccine for a Life-Threatening Disease Tetravalent bioconjugate vaccine with potential to cover up to ~85% of shigellosis infections1 Vaccine Highlights Market Opportunity Upcoming Milestones • World’s most clinically advanced tetravalent • Global market e
Slide 15: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 15
Slide 16: 9M 2025 Financials: Product Sales of €119.4 million
9M 2025 Financials: Product Sales of €119.4 million Sales growth offset by discontinuation of certain 3PP distribution and adverse FX changes €m (audited) 9M 9M % 2025 2024 Change IXIARO®/JESPECT® 74.3 66.0 +12.5% DUKORAL®* 21.5 22.3 -3.4% IXCHIQ®** 7.6 1.8 +330% Third party products 16.1 22.5 -28.5
Slide 17: 9M 2025 Financials: Income Statement
9M 2025 Financials: Income Statement €m (unaudited) 9M 2025 9M 2024 Product sales 119.4 112.5 Other Revenues 7.6 4.2 Revenues 127.0 116.6 Cost of goods and services (71.1) (71.3) Research and development expenses (59.7) (48.6) Marketing and distribution expenses (28.6) (35.7) General and administrat
Slide 18: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 18
Slide 19: Valneva Remains Solidly Funded with Strong Financial Outlook
Valneva Remains Solidly Funded with Strong Financial Outlook 2025 Guidance Financial Outlook ▪ Product Sales: €155 - €170 million1,2; Commercial ▪ Continued revenue growth and cash flows from business expected to be cash-flow positive commercialized vaccines ▪ Total Revenues: €165 - €180 million ▪ F
Slide 20: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 20
Slide 21: Valneva Outlook: Growth Drivers for 2025 and Beyond
Valneva Outlook: Growth Drivers for 2025 and Beyond VLA15 success case • Potential for sustained profitability upon potential approval and commercialization*, driven by substantial milestones and royalties starting in 2027 Growing commercial revenues • Near term: continued growth trajectory of IXIAR
Slide 22: Agenda
Agenda Introduction Business Update Financial Report 9M 2025 Financial Outlook Growth Drivers Q&A Valneva – 9M 2025 Analyst Presentation 22
Slide 23: Thank you
Thank you Merci Danke Tack valneva