Home / Business and Economy / Valneva's Q1 Revenue Plummets Amidst Lyme Vaccine Push
Valneva's Q1 Revenue Plummets Amidst Lyme Vaccine Push
16 May
Summary
- Valneva's Q1 2026 revenue dropped nearly 40% to €30.9 million.
- The company reported a €32.1 million net loss for the first quarter.
- Lyme disease vaccine candidate LB6V showed over 70% efficacy in Phase 3.
Valneva experienced a sharp revenue decline in the first quarter of 2026, with earnings falling to €30.9 million, a nearly 40% decrease from the previous year. This period also saw the company record a net loss of €32.1 million.
The company's travel vaccine sales, including IXIARO/JESPECT (€20.2 million), DUKORAL (€8.6 million), and IXCHIQ (€1.6 million), saw a decrease, with third-party distribution revenue falling to €0.1 million. Valneva has lowered its full-year 2026 revenue forecast to between €145 million and €160 million.
Despite the financial downturn, Valneva and Pfizer are advancing the experimental Lyme disease vaccine, LB6V. Phase 3 trial results for LB6V demonstrated efficacy exceeding 70% in participants aged five and above, with no safety issues identified.
Valneva concluded March with €105.3 million in cash, subsequently raising an additional €84 million in April. The company is undertaking a restructuring program aimed at reducing operating costs by 25% to 35% and cutting its workforce by 10% to 15% relative to 2025 levels.
