Saint-Herblain (France), December 29, 2023 – Valneva SE (Nasdaq: VALN; Euronext Paris: VLA), a specialty vaccine company, today announced that the Company is modifying its financial guidance for 2023. Product sales guidance remains unchanged, as do anticipated R&D expenses. The €90 million to €110 million of other income related to proceeds from potential sale of the Company's priority review voucher (PRV), which was previously expected before year-end, is now expected in early 2024. The Company's previous guidance included expected total revenues and other income between €220 million and €260 million 1. The modified 2023 guidance now includes the previously stated product sales revenue of €130 million to €150 million, which the Company remains on track to achieve, as well as R&D expenses between €60 million and €70 million, which were recently reduced 2, primarily driven by lower than anticipated costs related to the closeout of the Company's COVID-19 activities.