Strong Revenue Growth
Product sales reached €48.6 million, a 51.2% increase compared to the first quarter of the prior year. IXIARO sales were up 65.5% year-over-year, driven by increased sales to the US military and travel channels.
Regulatory Achievements
Key regulatory achievements for IXCHIQ include marketing authorization in the UK, submission for adolescent label extension, and marketing authorization in Brazil for the chikungunya vaccine.
Pipeline Progress
Valneva initiated the first vaccination in the Phase 2 infant study in Africa for the Shigella vaccine candidate and reported positive Phase 2 pediatric results for IXCHIQ.
Improved Gross Margins
IXIARO's gross margin improved to 72.6%, exceeding pre-COVID levels, while DUKORAL's gross margin reached 52.2%, up from below 40% in the first quarter of last year.
Significant Cash Position
Total cash and cash equivalents were €153 million, with operational cash burn significantly reduced from €28.4 million to €8.1 million compared to the prior year.