The Lyon-based biotech specializing in vaccines declines during the session, amidst a slightly bullish SBF 120. The stock continues to operate in a fragile technical zone, after a quarter marked by a massive price decline and a reorganization. The annual general meeting is scheduled for today.
The stock stalls between support at €2.26 and the 50-day moving average
Valneva's stock is down 1.95% at €2.5610 midday, while the SBF 120 gains 0.13%. The stock remains in a medium-term bearish configuration, with its price below its 50-day moving average (MA50) at €2.69 (a gap of -4.80%) and well below the 200-day moving average (MA200) at €3.80 (a gap of -32.61%). In the short term, however, the session is playing out above the 20-day moving average (MA20) at €2.51, which keeps the stock in the breathing zone opened by last week's rebound (+3.48% over seven days). The RSI at 46 indicates a neutral momentum, with no clear reversal signal. The technical support at €2.26, already tested in mid-May following the capital increase of 84 million euros, remains the lower reference point; the resistance at €2.74 marks the upper limit of the corridor. The stock is ranked low in the SBF 120, in an index otherwise driven by Vusion and Atos.
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The financial calendar schedules the annual general meeting for June 1st, followed by Valneva's participation in the Northern European Conference on Travel Medicine (NECTM10) on June 3rd. The laboratory also announced on May 29 its participation in three investor conferences in June, where the management is set to present its commercial strategy and portfolio of candidates, including LB6V against Lyme disease co-developed with Pfizer. Against this backdrop, the stock performance remains weighed down by the first quarter results published on May 13: revenue down 37%, net loss of 32.1 million euros and a reorganization plan aiming to reduce operational expenses by 25 to 35% and global workforce by 10 to 15%. During this announcement, the company adjusted its 2026 revenue guidance to a range of 135 to 150 million euros, focusing its resources on key strategic projects. Over three months, the stock has still lost 45.86%. The next market event remains the NECTM10 conference on June 3, which could provide factual updates on the progress of the vaccine portfolio.
SectorSanté · Vaccins et laboratoires de recherche›Industrie Pharmaceutique
Context
Period
Period: 9M 2025
Guidance from the release
Au troisième trimestre, nous avons continué à nous concentrer sur le renforcement de notre trésorerie, ce qui nous a permis de refinancer notre dette à des conditions financières plus avantageuses.
Chiffre d’affaires de 127,0 millions d’euros sur neuf mois (+8,9 %), ventes de 119,4 millions d’euros, trésorerie de 143,5 millions d’euros au 30/09/2025, perte nette 65,2 millions d’euros, EBITDA ajusté (37,7) millions d’euros. Guidance 2025 confirmée : chiffre d’affaires attendu entre 165 et 180 millions d’euros; ventes attendues entre 155 et 170 millions d'euros. Renforcement de la position financière via refinancement et ATMs; Phase 3 VALOR pour le vaccin Lyme en cours selon calendrier.
Risks mentioned
Suspension de la licence IXCHIQ ® aux États-Unis par la FDA (impact sur ventes segment voyageurs)
Risque de résultats cliniques défavorables pour les candidats (phase 3 VALOR pour Lyme, essais S4V2, VLA1601 incertitudes réglementaires)
Exposition aux fluctuations de change (impact négatif mentionné de 1,3 millions d’euros sur ventes, effets de change volontaires)
Dépendance à des partenaires de distribution et diminution des produits de tiers (arrêt de distribution de Rabipur/RabAvert et Encepur)
Opportunities identified
Résultats positifs potentiels de la Phase 3 VALOR (VLA15) pouvant mener à des demandes d'autorisation en 2026
Accord commercial avec CSL Seqirus en Allemagne pour stimuler la commercialisation des vaccins
Croissance des ventes d'IXCHIQ ® sur les marchés hors États-Unis et dans les PRFI (livraisons de substance active)
Potentiel du candidat S4V2 contre la shigellose (marché estimé > 500 millions de dollars/an)
Données positives de Phase 1 pour VLA1601 (Zika) et forte persistance d'anticorps pour IXCHIQ ® (95 % à 4 ans) comme avantage concurrentiel
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