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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: May 7, 2024

Commission File Number: 001-40377

VALNEVA SE
(Translation of registrant's name into English)

6 rue Alain Bombard
44800 Saint-Herblain, France
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

On May 7, 2024, the Registrant announced its results from the three months ended March 31, 2024 and issued a press release and unaudited interim condensed consolidated financial statements, copies of which are attached hereto as Exhibits 99.1, and 99.2, respectively, and incorporated herein by reference. The information contained in this Form 6-K, including Exhibits 99.1 and 99.2, is hereby incorporated by reference into the registrant's Registration Statement on Form F-3 (File No. 333-266839).

Exhibits
Exhibit 99.1
Exhibit 99.2
Unaudited Interim Condensed Consolidated Financial Statements as at March 31, 2024 and for the three months ended March 31, 2024



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Valneva SE (Registrant)
Date: May 7, 2024
/s/ Thomas Lingelbach Thomas Lingelbach Chief Executive Officer and President






































Unaudited interim condensed consolidated financial statements as at March 31, 2024
Valneva SE
I.UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)

Unaudited Interim Condensed Consolidated Statements of Income (Loss)
Three months ended March 31,
in € thousand20242023
Product sales32,149 32,100 
Other revenues604 1,408 
REVENUES32,753 33,508 
Cost of goods and services(22,160)(20,480)
Research and development expenses(13,131)(14,065)
Marketing and distribution expenses(11,333)(8,986)
General and administrative expenses(11,670)(10,038)
Gain from sale of Priority Review Voucher, net90,833 — 
Other income and expenses, net2,917 3,488 
OPERATING PROFIT/(LOSS)68,208 (16,574)
Finance income266 253 
Finance expenses(7,045)(5,096)
Foreign exchange gain/(loss), net(2,512)3,170 
PROFIT/(LOSS) BEFORE INCOME TAX58,918 (18,247)
Income tax benefit/(expense)(8)120 
PROFIT/(LOSS) FOR THE PERIOD58,909 (18,127)
EARNINGS/(LOSSES) PER SHARE
for profit/(loss) for the period attributable to the equity holders of the Company
(expressed in € per share)
Basic0.42 (0.13)
Diluted0.41 (0.13)

Unaudited Interim Condensed Consolidated Statements of Comprehensive Income (Loss)

Three months ended March 31,
in € thousand20242023
PROFIT/(LOSS) FOR THE PERIOD58,909 (18,127)
OTHER COMPREHENSIVE INCOME/(LOSS)
Items that may be reclassified to profit or loss
Currency translation differences(57)1,628 
Other comprehensive income/(loss) for the period, net of tax(57)1,628 
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD58,853 (16,500)
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Unaudited interim condensed consolidated financial statements as at March 31, 2024
Valneva SE
II.UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

in € thousandMarch 31, 2024December 31, 2023
ASSETS
Non-current assets196,588 197,238 
Intangible assets24,853 25,567 
Right of use assets19,267 20,392 
Property, plant and equipment136,696 136,198 
Deferred tax assets7,006 6,592 
Other non-current assets8,766 8,490 
Current assets306,241 262,824 
Inventories48,585 44,466 
Trade receivables27,285 41,645 
Other current assets53,732 50,633 
Cash and cash equivalents176,640 126,080 
TOTAL ASSETS502,829 460,062 
EQUITY
Share capital20,892 20,837 
Share premium593,948 594,003 
Other reserves67,162 65,088 
Retained earnings/(Accumulated deficit)(551,682)(450,253)
Profit/(Loss) for the period58,909 (101,429)
TOTAL EQUITY189,230 128,247 
LIABILITIES
Non-current liabilities197,515 172,952 
Borrowings159,035 132,768 
Lease liabilities27,547 29,090 
Refund liabilities6,350 6,303 
Provisions810 1,074 
Deferred tax liabilities3,704 3,638 
Other liabilities70 79 
Current liabilities116,085 158,863 
Borrowings22,413 44,079 
Trade payables and accruals33,506 44,303 
Income tax liability746 632 
Tax and Employee-related liabilities17,271 16,209 
Lease liabilities2,676 2,879 
Contract liabilities5,291 5,697 
Refund liabilities24,258 33,637 
Provisions9,553 10,835 
Other liabilities371 592 
TOTAL LIABILITIES313,600 331,815 
TOTAL EQUITY AND LIABILITIES502,829 460,062 

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Unaudited interim condensed consolidated financial statements as at March 31, 2024
Valneva SE
III.UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Three months ended March 31,
in € thousand20242023
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(Loss) for the period58,909 (18,127)
Gain from sale of Priority Review Voucher, net(90,833)— 
Adjustments for non-cash transactions15,072 8,438 
Changes in non-current operating assets and liabilities(529)(269)
Changes in working capital(10,923)(13,935)
Cash generated/(used) in operations(28,303)(23,893)
Income tax paid(129)(433)
NET CASH GENERATED FROM/(USED IN) OPERATING ACTIVITIES(28,432)(24,326)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment(4,498)(3,846)
Proceeds from sale of property, plant and equipment146 33 
Purchases of intangible assets(34)— 
Proceeds from sale of Priority Review Voucher90,833 — 
Interest received266 253 
NET CASH GENERATED FROM/(USED IN) INVESTING ACTIVITIES86,713 (3,561)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds/(payments) from issuance of common stock, net of costs of equity transactions— (194)
Proceeds from borrowings, net of transaction costs(944)— 
Payment of lease liabilities(677)(933)
Interest paid(5,836)(2,689)
NET CASH GENERATED FROM/(USED IN) FINANCING ACTIVITIES(7,457)(3,816)
NET CHANGE IN CASH AND CASH EQUIVALENTS50,824 (31,703)
Cash and cash equivalents at beginning of the year 126,080 286,532 
Exchange gains/(losses) on cash(264)(344)
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 176,640 254,485 

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Unaudited interim condensed consolidated financial statements as at March 31, 2024
Valneva SE
IV.UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

in € thousandShare capitalShare premiumOther reservesRetained earnings/
(Accumulated deficit)		Profit/(loss)
for the period		Total
equity
BALANCE AS AT JANUARY 1, 202420,837 594,003 65,088 (450,253)(101,429)128,247 
 Total comprehensive income/(loss) — — (57)— 58,909 58,853 
 Income appropriation — — — (101,429)101,429 — 
 Share-based compensation expense:
Value of services — — 2,130 — — 2,130 
Exercises 55 (55)— — — — 
BALANCE AS AT MARCH 31, 202420,892 593,948 67,162 (551,682)58,909 189,230 
in € thousandShare capitalShare premiumOther reservesRetained earnings/
(Accumulated deficit)		Profit/(loss)
for the period		Total
equity
BALANCE AS AT JANUARY 1, 202320,755 594,043 55,252 (306,974)(143,279)219,797 
 Total comprehensive income/(loss) — — 1,628 — (18,127)(16,500)
 Income appropriation — — — (143,279)143,279 — 
 Share-based compensation expense:
Value of services— — 1,489 — — 1,489 
Exercises(3)— — — — (3)
BALANCE AS AT MARCH 31, 202320,752 594,043 58,369 (450,253)(18,127)204,783 


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