- Unprecedented partnering deal signed with Pfizer for
Lyme disease vaccine
- Binding preliminary agreement now in place with UK
government to provide initial funding for manufacturing expansion
of SARS-CoV-2 vaccine; agreement in principle to supply up to 100
million doses to UK government
- Positive initial results for Phase 2 study of Lyme
disease vaccine VLA15
- Positive End-of-Phase 2 chikungunya meeting with the
U.S. FDA
- Marketing and distribution partnership with Bavarian
Nordic
- Product sales revenue adversely impacted by COVID-19
pandemic
- $85 million financing arrangement with leading US
healthcare funds
Strong cash position of €200 million at
end of June 2020; H1 product sales revenue affected by COVID-19
pandemic
- Strong cash position of €200 million at the end of June 2020
- Driven by $130 million upfront payment from Lyme vaccine
collaboration with Pfizer1
- Augmented by $85 million debt financing arrangement with
leading U.S. funds in February 20202. $60 million drawn down as at
June 30, 2020
- Total revenues of €47.9 million in H1 2020 compared to €54.5
million in H1 2019
- Product sales revenue of €40.9 million in H1 2020 adversely
affected by the COVID-19 pandemic (€61.6 million in H1 2019)
- EBITDA3 loss of €17.2 million in H1 2020 compared to an EBITDA
profit of €2.4 million in H1 2019
- Reflects increased R&D investment of €33 million in H1 2020
compared to €14.1 million in H1 2019
Valneva FY 2020 total revenue guidance
confirmed with major EBITDA improvement compared to original
guidance
- Subject to continuing uncertainty regarding the ongoing
COVID-19 pandemic, Valneva forecasts total 2020 revenues of €120
million to €140 million, broadly in line with its original guidance
- Guidance includes approximately €70 million to €80 million of
product sales revenues
- €40 million to €50 million revenue to be recognized resulting
from the Lyme vaccine partnership with Pfizer
- Approximately €10 million of Service and Technology
revenues.
- Valneva expects R&D investments of up to €80 million
including:
- Lyme program related costs, noting the recent Lyme
collaboration
- Phase 3 initiation of the chikungunya vaccine candidate in Q4
2020
- Initial investments in the Company´s SARS-CoV-2 vaccine
candidate (VLA2001)
- Valneva now estimates EBITDA of between zero and
negative €10 million in 2020 (compared to its original guidance of
up to €35 million negative EBITDA)
Significant milestones reported for
R&D programs since the beginning of the year
- Signing of an unprecedented collaboration with Pfizer for Phase
2 Lyme disease vaccine VLA154
- $130 million upfront and $35 million development
milestones
- Up to a further $143 million in early commercialization
milestone payments
- Tiered royalties on sales starting at 19%
- Valneva to fund 30% of all development costs through completion
of development program
- Positive initial results for first Phase 2 study of Lyme
disease vaccine candidate reported5. Initial results for second
Phase 2 study expected within a few months.
- Positive End of Phase 2 meeting with the FDA for chikungunya
vaccine candidate VLA15536. Chikungunya Phase 3 study expected to
commence in the fourth quarter of 2020
- Initiation of VLA2001 – a SARS-CoV-2 vaccine development
program for COVID-197
- Binding preliminary agreement with UK government to provide
initial funding of over £10 million to support expansion of
Valneva’s UK based manufacturing facilities; final supply agreement
including further investments in manufacturing and clinical trials
to be negotiated within the coming weeks
- Agreement in principle with the UK government to provide up to
100 million doses of Valneva’s SARS-CoV-2 vaccine candidate8
- Valneva’s SARS-CoV-2 vaccine to be manufactured at Valneva’s
FDA approved plant in Livingston, Scotland, with investment also at
Solna, Sweden
David Lawrence, Valneva’s Chief
Financial Officer, commented, “The excellent progress
across our business in all areas outweighs the adverse impact of
the COVID-19 pandemic on the travel industry and our product sales
revenues. The debt financing combined with the Pfizer partnership
and the excellent progress with the UK Government collaboration
puts the Company in a very strong position.”
H1 2020 Financial Information
(unaudited, consolidated under IFRS)
€million |
6 months ending June 30 |
|
2020 |
2019 |
Total revenues |
47.9 |
54.5 |
Product sales |
40.9 |
61.6 |
Net profit / (loss) |
(25.6) |
(2.4) |
EBITDA |
(17.2) |
2.4 |
Cash |
200.0 |
69.9 |
Saint Herblain (France), August 4,
2020 – Valneva SE (“Valneva” or “the Company”), a
specialty vaccine company focused on prevention against diseases
with major unmet needs, reported today its consolidated financial
results for the first half of the year, ended June 30, 2020. The
half year financial report, including the condensed consolidated
interim financial report and the half year management report, is
available on the Company’s website www.valneva.com.
Valneva will provide a live webcast of its
first-half 2020 results conference call beginning at 3 p.m. CEST
today. This webcast will also be available on the Company’s
website. Please refer to this link:
https://edge.media-server.com/mmc/p/usuqkrat Commercial
Vaccines
JAPANESE ENCEPHALITIS VACCINE
(IXIARO®/JESPECT®) In the first half of 2020, revenues
from IXIARO®/JESPECT® product sales reached €28.4 million compared
to €45.1 million in the first half of 2019. Sales were affected by
the impact of the COVID-19 pandemic on the travel market primarily
in the second quarter of the year.
During the first half of 2020, the US
Government’s Department of Defense (DoD) issued a Request For
Proposal (RFP) for the supply of Japanese encephalitis vaccines to
the U.S. military. As sole supplier of the only U.S. FDA approved
Japanese encephalitis vaccine, Valneva has responded to this RFP
and expects to enter into a new contract with the DoD imminently.
Based on the RFP, Valneva expects the contract to span a total of
three years (one base year and two further years via options)
providing, for the first time, greater demand visibility which is
especially important at a time when the travel market is hit by the
COVID-19 outbreak.
CHOLERA / ETEC9-DIARRHEA VACCINE
(DUKORAL®)
In the first half of 2020, revenues from
DUKORAL® sales reached €12.1 million compared to €15.2 million in
the first half of 2019. DUKORAL® sales were also adversely impacted
by the COVID-19 pandemic effect on travel in the second quarter of
the year.
OVERALL SALES OUTLOOKTaking
into account the ongoing COVID-19 situation, Valneva expects that
its sales could return to 2019 levels in 2022 with the expected
sales recovery of its 2 commercial products and the marketing and
distribution partnership with Bavarian Nordic announced in June
202010. The successful development of a SARS-CoV-2 vaccine could
accelerate that timeline.
MODIFICATION TO MINIMUM REVENUE COVENANT
UNDER CREDIT AGREEMENTOwing to (a) deferred recognition of
revenues from the Pfizer deal under IFRS rules and (b) the
forecasted product sales in the context of the COVID-19 pandemic,
the Company was at risk of not meeting the minimum revenue covenant
(€115 million on a 12-month rolling basis assessed monthly) under
its Credit Agreement with its lenders, OrbiMed and Deerfield.
Following discussions, an agreement was reached at the end of July
whereby this minimum revenue covenant will not apply until December
31, 2020, inclusive, in exchange for a minimum cash requirement of
€75 million (instead of €35 million) during that period.
Clinical Stage Vaccine
Candidates
LYME DISEASE VACCINE CANDIDATE –
VLA15 Partnering deal with Pfizer;
Positive initial Phase 2 results reported
Valneva has developed a multivalent vaccine
candidate, VLA15, which is currently the only active vaccine
program in clinical development against Lyme disease. The program
was granted Fast Track designation by the U.S. Food and Drug
Administration (FDA) in July 201711 and, in April 2020, the Company
signed an exclusive, worldwide partnering deal with Pfizer Inc. for
the late stage development and future commercialization of
VLA1512.
Valneva and Pfizer will work closely together
throughout the development of VLA15. Valneva is eligible to receive
a total of $308 million including a $130 million upfront payment
received in May 2020. Under the terms of the agreement,
Valneva will fund 30% of all development costs through completion
of the development program and, in return, Pfizer will pay Valneva
tiered royalties starting at 19%. Pfizer will lead late-stage
development and have sole control over commercialization.
In July 2020, Valneva reported positive initial
results for the first Phase 2 study (VLA15-201) of Lyme disease
vaccine candidate VLA1513. The study met its endpoints. Compared to
Phase 1, the higher doses used in this trial elicited higher
antibody responses across all serotypes with Seroconversion Rates
(SCR) in the highest dose ranging from 81.5% (ST1) to 95.8% (ST2).
In the age group comparable to the age group investigated in Phase
1 (18-49 years), SCRs ranged from 85.6% to 97%. The immunological
response in older adults, one of the main target groups for a Lyme
vaccine, is particularly encouraging. Results did not indicate that
prior exposure to Lyme (sero-positivity) has an impact on
immunogenicity or safety. As part of further Phase 2 data to be
released in a few months, an analysis of the functionality of the
antibodies generated with VLA15 will be conducted. In close
collaboration with regulatory authorities, Valneva has developed a
Serum Bactericidal Antibody assay (“SBA”) for that purpose.
VLA15 was generally safe across all dose and age
groups tested. No related Serious Adverse Events (SAEs) were
observed with VLA15 in this study in any treatment group.
Reactogenicity decreased with subsequent vaccinations. Overall, the
tolerability profile, including rates of fever, appeared to be
comparable to other lipidated recombinant vaccines or
lipid-containing formulations.
This first Phase 2 study, conducted in the EU
and US, included 572 healthy adults aged 18 to 65 years. In the
main study phase, 452 subjects received one of two dose levels
(either 135µg or 180µg) of VLA15 (approximately 180 subjects each)
in three injections (Days 1, 29 and 57) or placebo (approximately
90 subjects). Immunogenicity was measured by determining IgG
antibodies against each of the six most prevalent Outer Surface
Protein A serotypes of Lyme borreliosis in the US and Europe
covered by the vaccine. The endpoint readout was immunogenicity at
Day 85 (one month after finalization of primary immunization).
Valneva expects to report initial results for
the second Phase 2 study, VLA15-202, within a few months. In the
VLA15-202 study, identical doses to the VLA15-201 study were tested
using a longer vaccination schedule (Days 1, 57 and 180).
According to the U.S. Centers for Disease
Control and Prevention (CDC), approximately 300,000 Americans4 are
infected with Lyme disease annually with at least an additional
further 200,000 cases in Europe14.
VLA15 is a multivalent, protein subunit vaccine
that targets the outer surface protein A (OspA) of Borrelia and is
intended to protect against the majority of human pathogenic
Borrelia species. VLA15 is designed to confer protection by raising
antibodies that prevent Borrelia from migrating from ticks to
humans after a bite.
Peak revenue potential for a Lyme disease
vaccine in the U.S. and EU is estimated at more than $1 billion15
annually.
CHIKUNGUNYA VACCINE CANDIDATE –
VLA1553Phase 3 initiation expected in the fourth
quarter
Valneva has developed a unique vaccine
candidate, VLA1553, which is the only single-shot target product
profile vaccine in clinical development today. The program was
granted Fast Track designation by the FDA in December 201816.
Valneva plans to take VLA1553 to market with the prospect of
leveraging major manufacturing and commercial synergies primarily
focusing on the traveler vaccine market.
To make VLA1553 also accessible to Low and
Middle Income Countries (LMIC), Valneva and the Butantan Institute
in Brazil signed a binding term sheet in May 2020 for the
development, manufacturing and marketing of VLA155317. The
collaboration will be effective upon the signing of definitive
agreements and will fall within the framework of the $23.4 million
funding which Valneva received from the Coalition for Epidemic
Preparedness Innovations (CEPI) in July 201918.
During the first half of 2020, VLA1553’s
complete Phase 1 data were published in the peer-reviewed medical
journal The Lancet Infectious Diseases19. The Lancet paper provides
a detailed analysis of the unique Phase 1 results, which served as
a basis for the Company´s End of Phase 2 meeting with the U.S.
FDA20 and will enable direct progression into Phase 3 as soon as
the COVID-19 situation permits. Valneva is currently advancing all
necessary activities, including with its Contract Research
Organization (CRO), and intends to initiate the pivotal Phase 3
study in the fourth quarter as planned.
Chikungunya is considered a major public health
threat with no preventive vaccines or effective treatments
available. Chikungunya is a mosquito-borne viral disease caused by
the chikungunya virus (CHIKV), a Togaviridae virus, transmitted by
Aedes mosquitoes. As of 2017, there have been more than one million
reported cases in the Americas21 and the economic impact is
considered significant (e.g. Colombia outbreak 2014: $73.6
million)22. The medical burden is expected to grow as the
distribution of the CHIKV primary mosquito vectors continues to
spread further geographically.
The global annual market potential for
chikungunya vaccines is estimated at up to $500 million and the
traveler market at around $250 million23. The sponsor of the first
chikungunya vaccine approved in the U.S. will be eligible to
receive a Priority Review Voucher (PRV).
SARS-CoV-2 VACCINE CANDIDATE – VLA2001
Agreement in principle with UK
government to provide up to 100 million
dosesPreliminary binding agreement to provide
initial funding for manufacturing expansion
In April 2020, Valneva initiated a program
aiming to rapidly develop a vaccine against SARS-COV-2, the
pathogen that causes COVID-1924.
In July 2020, Valneva reached an agreement in
principle with the UK government to provide up to 100 million doses
of its SARS-CoV-2 vaccine, to be manufactured at its facilities in
Livingston, Scotland25. Valneva and the UK government have now
entered into a binding preliminary agreement by which the
Government will provide initial funding of over £10 million to
support expansion of Valneva’s UK-based manufacturing facilities.
Valneva and the UK government will seek to finalize a full supply
agreement in the next few weeks, including further investments in
manufacturing and clinical trials. As part of its broader COVID-19
response, Valneva plans to further invest in its manufacturing
facility in Livingston, Scotland and also in Solna, Sweden. Valneva
is also in discussions with further potential customers for the
vaccine.
Valneva is leveraging its technical and platform
capabilities derived from IXIARO®, the Company’s commercial vaccine
product indicated for active immunization for the prevention of
Japanese encephalitis, to develop an inactivated, whole virus
vaccine candidate. The Company is collaborating with Dynavax to
evaluate the adjuvant CpG 1018, which is a component of the U.S.
FDA-approved HEPLISAV-B® vaccine.
Valneva has ramped up its Biosafety Level 3
laboratory capabilities at its sites in Nantes, Vienna and
Livingston. Assuming that preclinical activities are successful and
the requisite financing is in place, Valneva plans to commence
clinical studies by the end of 2020 with the objective to achieve
first regulatory approval in the second half of 2021, subject to
the appropriate regulatory authority requirements.
SARS-CoV-2 is a new coronavirus identified in
late 2019 and belongs to a family of enveloped RNA viruses that
include MERS and SARS, both of which caused serious human
infections of respiratory system. The virus, which causes a disease
named COVID-19, has never before been found in humans. Since this
outbreak was first reported in late-2019, the virus has infected
over 18 million people and has caused over 690,000 reported deaths
(as of August 3, 2020). It has been declared a pandemic by the
World Health Organization (WHO). Currently, there is no vaccine
available for COVID-19.
First Half 2020 Financial
Review (Unaudited, consolidated under IFRS)
RevenuesValneva’s total
revenues in the first half of 2020 were €47.9 million compared to
€54.5 million in the first half of 2019. Revenues in the first half
of 2019 included negative revenue effects related to the
termination of the Strategic Alliance Agreement (SAA) with GSK
amounting to €10.7 million. Excluding the termination effect, total
revenues would have amounted to €65.2 million in the first half of
2019.
Product sales revenues in the first half of 2020
declined to €40.9 million compared to €61.6 million in the same
period of 2019. On a CER basis26, product sales declined by 35%
compared to the first half of 2019 with both commercial vaccines
impacted by COVID-19 related consequences on the travel market. The
sales decline was primarily driven by a 38% decrease at CER in
IXIARO®/JESPECT® sales while DUKORAL® sales declined by 20.8% at
CER compared to the first half of 2019.
Other Revenues, including revenues from
collaborations, licensing and services, amounted to €7 million in
the first half of 2020 and included for the first time revenues
related to the Lyme R&D collaboration agreement with Pfizer. In
the comparator period of 2019, negative Other Revenues amounting to
€7.1 million were reported, including the effect of the termination
of the SAA with GSK. Excluding the termination effect, other
revenues would have amounted to €3.6 million in the first half of
2019.
Operating result and EBITDA
Costs of goods and services sold (COGS) were €21.1 million in the
first half of 2020. Gross margin on product sales was 59.1%
compared to 66.1% in the first half of 2019, with the decline
mainly related to provisions taken for excess stock driven by
reduced demand (due to the COVID-19 pandemic). COGS of €10.4
million were related to IXIARO®/JESPECT® sales, yielding a product
gross margin of 63.3%. €6 million of COGS were related to DUKORAL®
sales, yielding a product gross margin of 50.5%. Of the remaining
COGS in the first half of 2020, €0.3 million were related to the
Third Party Product distribution business and €4.4 million were
related to cost of services. In the first half of 2019, overall
COGS were €23.1 million, of which €20.9 million related to cost of
goods and €2.2 million related to cost of services.
Research and development investments in the
first half of 2020 continued to increase as planned, more than
doubling to €33 million compared to €14.1 million in the first
quarter of 2019. This was driven by investments into Valneva’s
clinical stage vaccine candidates, notably Lyme and chikungunya.
Marketing and distribution expenses in the first half of 2020
amounted to €10 million compared to €11.8 million in the first half
of 2019. The decrease was the result of lower marketing and
distribution spend across all Valneva’s direct markets due to
reduced sales activity further to the COVID-19 pandemic. In the
first half of 2020, general and administrative expenses increased
to €10.6 million from €8.8 million in the first half of 2019,
mainly driven by increased costs to support corporate transactions
and projects as well as costs related to Valneva’s employee share
option program. Amortization and impairment charges of fixed
assets/intangibles in the first half of 2020 remained unchanged
compared to the same period of 2019 and amounted to €1.4
million.
Other income, net of other expenses in the first
half of 2020 increased to €6.5 million from €3 million in the first
half of 2019. This increase was mainly driven by increased R&D
tax credit directly resulting from increased R&D spend along
with income from the CEPI funding for Valneva’s chikungunya R&D
program.
Valneva recorded an operating loss of €21.9
million in the first half of 2020 compared to €1.7 million in the
first half of 2019. EBITDA loss in the first half of 2020 was €17.2
million compared to an EBITDA profit of €2.4 million in the first
half of 2019.
Net result In the first half of
2020, Valneva generated a net loss amounting to €25.6 million
compared to a net loss of €2.4 million in the first half of
2019.
Finance costs and currency effects in the first
half of 2020 resulted in a net finance expense of €5.6 million,
compared to a net finance expense of €0.5 million in the first half
of 2019. The increase of expenses was the result of increased
interest charges related to the newly entered financing arrangement
with the US Healthcare Funds Deerfield and OrbiMed as well as
foreign currency losses.
Cash flow and liquidity Net
cash generated by operating activities in the first half of 2020
amounted to €113.2 million compared to €13.3 million in the first
half of 2019 mainly driven by the $130 million upfront payment
received from Pfizer related to the Lyme R&D collaboration
agreement.
Cash outflows from investing activities in the
first half of 2020 amounted to €1.8 million, compared to €3.8
million in the first half of 2019 mainly as a result of purchases
of equipment.
Cash inflows from financing activities amounted
to €24.5 million in the first half of 2020 and consisted mainly of
€48.8 million net proceeds from the financing arrangement with the
US Healthcare Funds Deerfield and OrbiMed, offset by €20 million
repayments of borrowings to the European Investment Bank (EIB).
Cash outflows from financing activities amounted to €16.6 million
in the first half of 2019, which included the repayment of the
Biopharma (Pharmakon) loan of €11.3 million in early 2019.
Liquid funds on June 30, 2020 strongly increased
and stood at €200.0 million compared to €64.4 million on December
31, 2019. The main change was driven by the $130.0 million upfront
payment related to the Lyme collaboration agreement with Pfizer and
proceeds from the new debt line net of loan repayment to the EIB in
March 2020.
About Valneva SEValneva is a
specialty vaccine company focused on prevention against diseases
with major unmet needs. Valneva’s portfolio includes two commercial
vaccines for travelers: IXIARO®/JESPECT® indicated for the
prevention of Japanese encephalitis and DUKORAL® indicated for the
prevention of cholera and, in some countries, prevention of
diarrhea caused by ETEC. The Company has various vaccines in
development including unique vaccines against Lyme disease and
chikungunya. Valneva has operations in Austria, Sweden, the United
Kingdom, France, Canada and the US with over 500 employees.
For more information, visit www.valneva.com and follow the
Company on LinkedIn.
Valneva Investor and Media
ContactsLaetitia Bachelot-FontaineDirector of Investor
Relations & Corporate CommunicationsM +33 (0)6 4516
7099investors@valneva.com |
Teresa PinzolitsCorporate Communications SpecialistT
+43 (0)1 20620 1116communications@valneva.com |
Forward-Looking Statements
This press release contains certain
forward-looking statements relating to the business of Valneva,
including with respect to the progress, timing and completion of
research, development and clinical trials for product candidates,
the ability to manufacture, market, commercialize and achieve
market acceptance for product candidates, the ability to protect
intellectual property and operate the business without infringing
on the intellectual property rights of others, estimates for future
performance and estimates regarding anticipated operating losses,
future revenues, capital requirements and needs for additional
financing. In addition, even if the actual results or development
of Valneva are consistent with the forward-looking statements
contained in this press release, those results or developments of
Valneva may not be indicative of future performance. In some cases,
you can identify forward-looking statements by words such as
"could," "should," "may," "expects," "anticipates," "believes,"
"intends," "estimates," "aims," "targets," or similar words. These
forward-looking statements are based largely on the current
expectations of Valneva as of the date of this press release and
are subject to a number of known and unknown risks and
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievement expressed or implied by
these forward-looking statements. In particular, the expectations
of Valneva could be affected by, among other things, uncertainties
involved in the development and manufacture of vaccines, unexpected
clinical trial results, unexpected regulatory actions or delays,
competition in general, currency fluctuations, the impact of the
global and European credit crisis, and the ability to obtain or
maintain patent or other proprietary intellectual property
protection. In light of these risks and uncertainties, there can be
no assurance that the forward-looking statements made during this
presentation will in fact be realized. Valneva is providing the
information in these materials as of this press release, and
disclaim any intention or obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
1 Valneva and Pfizer Announce Collaboration to Co-Develop and
Commercialize Lyme Disease Vaccine, VLA15
2 Valneva Announces New $85 Million Financing Arrangement with
Leading US Healthcare Funds Deerfield and OrbiMed
3 H1 2020 EBITDA was calculated by excluding €4.7 million
of depreciation and amortization from the €21.9 million operating
loss as recorded in the consolidated income statement under
IFRS
4 Valneva and Pfizer Announce Collaboration to Co-Develop and
Commercialize Lyme Disease Vaccine, VLA15
5 Valneva Announces Positive Initial Results for Phase 2 Study
of Lyme Disease Vaccine Candidate
6 Valneva Reports Positive End-of-Phase 2 Chikungunya Meeting
with the U.S. FDA; Sets Stage for Phase 3 Study
7 Valneva and Dynavax Announce Collaboration to Advance Vaccine
Development for COVID-19
8 Valneva Confirms Participation in UK Government COVID-19
Vaccine Response Program
9 Indications differ by country -Please refer to Product /
Prescribing Information (PI) / Medication Guide approved in your
respective countries for complete information, incl. dosing, safety
and age groups in which this vaccine is licensed, ETEC =
Enterotoxigenic Escherichia coli (E. Coli) bacterium.
10 Valneva and Bavarian Nordic Announce Marketing and
Distribution Partnership
11 Valneva Receives FDA Fast Track Designation for its Lyme
Disease Vaccine Candidate VLA15
12 Valneva and Pfizer Announce Collaboration to Co-Develop and
Commercialize Lyme Disease Vaccine, VLA15
13 Valneva Announces Positive Initial Results for Phase 2 Study
of Lyme Disease Vaccine Candidate
14 As estimated from available national data. Case reporting is
highly inconsistent in Europe and many LB infections still go
undiagnosed.
15 Lyme Disease. L.E.K. interviews, research and analysis
16 Valneva PR: Valneva Awarded FDA Fast Track Designation for
Chikungunya vaccine candidate
[17] Valneva to Partner with Instituto Butantan
on Single-Shot Chikungunya Vaccine for Low- and Middle- Income
Countries
18 CEPI awards up to $23.4 million to Valneva for late-stage
development of a single-dose Chikungunya vaccine
19 Valneva Announces Publication in The Lancet of Complete Phase
1 Data for its Single-Shot Chikungunya Vaccine Candidate
20 Valneva Reports Positive End-of-Phase 2 Chikungunya Meeting
with the U.S. FDA; Sets Stage for Phase 3 Study
21 PAHO/WHO data: Number of reported cases of Chikungunya Fever
in the Americas – EW 51 (December 22, 2017)
22 Cardona-Ospina et al., Trans R Soc Trip Med Hyg 2015
23 Chikungunya. L.E.K. interviews, research and analysis for
traveler vaccine market
24 Valneva and Dynavax Announce Collaboration to Advance Vaccine
Development for COVID-19
25 Valneva Confirms Participation in UK Government COVID-19
Vaccine Response Program
26 CER: Constant Exchange Rate; H1 2019 actuals restated to H1
2020 average exchange rates
- 2020_08_04_VLA_H1_Results_PR_EN_Final