By Sarah Sloat

Valneva shares gained after the company reported first-half results and confirmed its outlook.

The French vaccine company swung to a net loss of 20.8 million euros ($24.2 million) in the first half compared with a profit of 34 million euros in the period a year earlier, when results were boosted by a one-off gain. Revenue rose to 97.6 million euros from 70.8 million euros, while operating cash burn fell to 10.9 million euros from 66.3 million euros.

In early trading, Valneva shares were up 12% at 4.09 euros. The shares have gained 89% year to date.

Analysts at Stifel said the results showed a solid overall performance. The current cash position is sufficient to fund operations through 2027, Stifel's Damien Choplain and Oscar Haffen Lamm said in a research note.

Valneva confirmed its outlook for 2025, including expectations for total revenue between 180 million and 190 million euros. Total revenue last year was approximately 170 million euros.

With Pfizer, Valneva is currently developing VLA15, a vaccine for Lyme disease.

"Looking ahead, the next key catalyst is the Phase III data readout for VLA15, Valneva's Lyme disease vaccine developed in partnership with Pfizer, expected in the fourth quarter of 2025," Stifel analysts said.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

August 12, 2025 03:40 ET (07:40 GMT)

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