Valneva fell back on Wednesday morning on the Paris Bourse after unveiling annual sales forecasts that fell short of market expectations.

The vaccine specialist has raised its sales forecasts for 2024, now expecting total sales of between 170 and 190 million euros, compared with 153.7 million euros in 2023.

Analysts at Invest Securities nevertheless point out that this forecast, even improved, is still below consensus, which is targeting around 215 million euros this year.

In fiscal 2023, its net loss narrowed to 101.4 million euros, compared with 143.3 million in 2022.

With cash and cash equivalents of 126.1 million euros at the end of 2023, up 95 million euros year-on-year, Valneva said it was approaching fiscal 2024 'in a good financial position'.

However, the share price was down 4.5% at around 10:20 a.m., ranking among the red lanterns of the SBF 120 index alongside Kering (-14%).

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