Valneva SE (NASDAQ:VALN) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET
Company Participants
Thomas Lingelbach - Chief Executive Officer
Peter Buhler - Chief Financial Officer
Joshua Drumm - Vice President of Investor Relations
Conference Call Participants
Maury Raycroft - Jefferies
Chiara Montironi - Van Lanschot Kempen
Ed White - HC Wainwright
Rajan Sharma - Goldman Sachs
Samir Devani - Rx Securities
Joshua Drumm
Thank you for joining us to discuss Valneva’s Financial Results for the First Nine Months of 2024 and a Corporate Update. It's my pleasure to welcome you today. In addition to our press release and analyst presentation, you can find our consolidated financial results for the nine months ended September 30th, 2024, which were published earlier today, available within the financial reports section of our investor website.
I'm joined today by Valneva’s CEO, Thomas Lingelbach; and our CFO, Peter Buehler, who will provide an overview and update on our business as well as our financial results. There will be an analyst Q&A session at the conclusion of the prepared remarks.
Before we begin, I'd like to remind listeners that during this presentation, we will be making forward-looking statements, which are subject to certain risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by these forward-looking statements.
You can find additional information about these risks and uncertainties in our periodic filings with the Securities and Exchange Commission and with the French Market Authority, which are listed on our company website. Please note that today's presentation includes information provided as of today, November 7th, 2024, and Valneva undertakes no obligation to revise or update forward-looking statements except as required by applicable securities laws.
With that, it's my pleasure to introduce Thomas to begin today's presentation.
Thomas Lingelbach
Thank you, Josh. It's a pleasure to welcome you all to today's call. What are the highlights for the first nine months, 2024? Overall, the company's performance is in line with our guidance.
When we look at product sales, which landed at a bit more than €110 million at the end of the nine-month period, and given the slow uptake of IXCHIQ in the US market, we have narrowed our guidance to €160 million to €170 million, and Peter will provide more details on that. With a cash position of more than €150 million, we consider the company well-financed. And when we look at the R&D, we had a very strong R&D execution year-to-date.