Why Are Valneva Shares Rising Today Premarket?

Valneva SE VALN expects its COVID-19 vaccine candidate to boost its sales in FY22 considerably, after calling 2021 "exceptional."

• The Company reported 2021 revenues soaring 216% to €348.1 million, as it had recognized revenues from a terminated vaccine supply contract in Britain.
• The Company expects to record sales of €350 million - €500 million of its VLA2001 COVID-19 vaccine in 2022, bringing its revenue targets for the year to €430 million - €590 million, subject to regulatory approvals and deliveries of VLA2001.
• In December, the European Medicines Agency started a rolling review of Valneva's inactivated-virus COVID-19 vaccine.
• "We reported positive Phase 3 results for two vaccine candidates (COVID-19 and chikungunya), and we expect both vaccines, if approved, to make a positive change to people's lives," Valneva's finance chief, Peter Buehler, said in a statement.
• Related: Valneva Kickstarts Phase 3 Trial Of Chikungunya Vaccine Candidate In Adolescents.
• The sales of other vaccines are expected at €60 million - €70 million in FY22.
• The firm's cash position, boosted by the Nasdaq listing and pre-payments on the EU deal, at the end of December amounted to €346.7 million.
• Price Action: VALN shares are up 8.67% at $37.46 during the premarket session on the last check Thursday.