Valneva : R&D in 2020 significantly impacts margin
>A solid year-end in 2019 - Valneva this morning reported its 2019 financial results, which were good. While sales are generally in line with expectations, good control of production costs enabled EBITDA to be 30% higher than expected.In short, sales were therefore in line with expectations at € 126.2m (+11.7% y-o-y), negatively impacted as expected by the termination of the collaboration with GSK announced mid-year (€ 136.9m excluding impact).EBITDA came in...Valneva, together with its subsidiaries, is focused on vaccine development and antibody discovery. Co. generates revenue from both its marketed product, a vaccine for the prevention of Japanese encephalitis (IXIARO®/JESPECT®), commercial partnerships around a portfolio of product candidates and licensed technology platforms (EB66® cell line, VIVA,Screen antibody discovery technology, and the IC31® adjuvant) developed by Co. Related business activities include product research and development, regulatory and clinical activities, manufacturing of commercial product and advanced clinical product candidates, as well as administrative, corporate development, and marketing and sales activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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