Valneva SE misses earnings, revenue falls short of estimates

Valneva SE on Tuesday reported a net loss per share of $0.18 for the quarter, missing market expectations by $0.18, while revenue declined year-over-year.

The French biotech company, which focuses on vaccines, posted revenue of $45.2 million, falling short of the $48.5 million average estimate compiled by analysts. The results underscore ongoing challenges in the post-pandemic vaccine market, where demand has softened from peak levels seen during the COVID-19 crisis.

Valneva attributed the shortfall to lower-than-anticipated sales of its Lyme disease vaccine and reduced government procurement orders. The company has been pivoting toward commercializing its non-COVID vaccine portfolio, including its chikungunya and Lyme disease vaccines, but execution has lagged behind expectations.

Shares of Valneva were down 3.2% in pre-market trading following the release, extending losses from Monday’s close. The stock has declined approximately 15% over the past month amid broader sector weakness and investor skepticism about near-term revenue growth.

Analysts at Jefferies maintained a Hold rating on Valneva’s stock, citing uncertainty around the pace of commercial adoption for its vaccines and potential delays in regulatory approvals for new indications. The firm set a price target of €1.50, below the current trading level.

Valneva did not provide updated guidance for the full year, stating that visibility remains limited due to macroeconomic headwinds and competitive pressures in the vaccine market. The company plans to host an investor call on Thursday to discuss the results in further detail.