Valneva reports financial results for first nine months of 2016

Valneva has reported financial results for first nine months of 2016.

Total revenues and grants grew to EUR70.7 million in the first nine months of 2016 (vs. EUR60.7 million in the same period of 2015) benefiting from a more than 60% increase of IXIARO/JESPECT revenues to EUR40.1 million.

Valneva reported a positive EBITDA of EUR3.5 million in the first nine months of 2016 (vs. an EBITDA loss of EUR4.3 million in the same period of 2015) despite negative EBITDA of minus EUR1.2 million in the third quarter of 2016 (vs. EUR1.0 million positive EBITDA in the same period of 2015).

Nine months 2016 net loss was impacted by a non-cash impairment charge on acquired intangible assets following the discontinuation of the Pseudomonas program in Q2, explained the company.