Shares of Valneva SE (VALN) surged 11.29% in pre-market trading on Thursday following the release of the company's full year 2024 results and 2025 outlook. The specialty vaccine company reported meeting its 2024 growth targets and provided an optimistic forecast for the coming year.

Valneva announced that its total revenues reached €169.6 million in 2024, a 10% increase compared to the previous year. Product sales grew by 13% to €163.3 million, driven by strong performance across its commercial portfolio. The company also reported a significant improvement in its financial position, with cash and cash equivalents of €168.3 million at the end of 2024, up from €126.1 million a year earlier.

Looking ahead to 2025, Valneva expects further growth, projecting product sales between €170-180 million and total revenues of €180-190 million. The company also anticipates positive commercial cash flows to support its strategic R&D investments. Investors appear particularly encouraged by the progress in Valneva's clinical pipeline, especially its Lyme disease vaccine candidate, which is partnered with Pfizer and expected to yield Phase 3 results by the end of 2025.