Strong Revenue Growth
Total revenues for Q1 2025 reached €49.2 million, a significant increase from €32.8 million in Q1 2024. Product sales rose by 51.2% year-over-year.
IXIARO Sales Increase
IXIARO sales reached €27.5 million, a 65.5% increase from the previous year, driven by strong sales to the US military and travel channels.
Improved Gross Margins
Gross margin on commercial products excluding IXCHIQ improved to 62.7% from 43.9% in Q1 2024, due to better manufacturing performance and fewer batch failures.
Regulatory Achievements
Valneva received marketing authorization for IXCHIQ in the UK, Europe, and Brazil, and submitted a label extension application for adolescents.
Lyme Disease Vaccine Progress
Progress in the Phase 3 study for the Lyme disease vaccine, VALOR, with expected data by the end of the year.