Valneva Shares Retreat Amid Technical Pressure

Valneva shares fell 4.9% on technical selling after hitting resistance. Preliminary 2025 revenue rose to €174.7M, but 2026 Lyme disease vaccine data is the key future catalyst.

Shares of French vaccine developer Valneva SE experienced a notable decline in Thursday's trading session on the Euronext Paris exchange. The drop occurred despite the company's recent publication of preliminary 2025 financial figures and its projection of a transformative 2026. The downward move highlights a divergence from the stock's positive weekly trend.

A Weekly Gain Overshadowed by Daily Losses

During the session, Valneva's share price settled at €4.72, marking a decrease of approximately 4.9% from the previous day's close. At its lowest point intraday, the loss extended to 3.6%. This pullback stands in contrast to the equity's performance over the broader week, which remains positive with an advance of nearly 2.8%.

Market observers attributed the sell-off to technical factors rather than fresh company-specific news. Analysts noted the stock had recently approached a key resistance level at €5.08. Furthermore, the Relative Strength Index (RSI) was recorded at 71 points, slightly above the 70-point threshold typically considered to indicate overbought conditions.

Preliminary 2025 Financial Snapshot

The backdrop to this price action includes Valneva's preliminary financial release on February 19. The company reported total revenues for 2025 climbed to €174.7 million, up from €169.6 million the prior year. However, product sales declined to €157.9 million. Management attributed this contraction to an anticipated sharp drop in third-party revenue, which fell 42.3% to €19.2 million.

Stripping out the third-party business and currency effects, the company's own product sales actually grew by 9%. Valneva's cash and cash equivalents position stood at €109.7 million at year-end 2025, compared to €168.3 million a year earlier.

The 2026 Catalyst: Pivotal Clinical Data

For the current year, Valneva has provided a revenue forecast ranging between €155 million and €170 million. This includes product sales projected to be between €145 million and €160 million. The lower guidance reflects the continued wind-down of third-party activities.

The potential major catalyst for the company is scheduled for the first half of 2026. Valneva, in partnership with Pfizer, expects to report the first Phase 3 clinical trial data for its Lyme disease vaccine candidate, VLA15. Successful results would be followed by regulatory submissions in both the United States and the European Union. Additionally, the company anticipates initial Phase 2 data for its Shigella vaccine candidate, S4V2.

IXCHIQ Vaccine Presents a Mixed Picture

The news flow surrounding Valneva's chikungunya vaccine, IXCHIQ, remains nuanced. In mid-January, the company announced a voluntary withdrawal of its U.S. Biologics License Application after the Food and Drug Administration (FDA) imposed a clinical hold. In a separate development, a pilot vaccination campaign using the vaccine was launched in Brazil in early February.

Investors can expect the audited full-year 2025 results on March 16. The financial report for the first quarter of 2026 is scheduled for release on May 7.