Brief: Medincell FY Net Loss Widens To EUR 24.8 Mln

Medincell SA

14/06/2022 17:24

June 14 (Reuters) - Medincell SA  MEDCL.PA :
    * MEDINCELL ANNOUNCES ITS FULL YEAR FINANCIAL RESULTS -
APRIL 2021
- MARCH 2022
    * OUTLOOK FOR 2022-23: WHILE MAINTAINING MOMENTUM OF ITS
RESEARCH
AND DEVELOPMENT ACTIVITIES, COMPANY ANTICIPATES A SIGNIFICANT
DECREASE IN CASH CONSUMPTION
    * AVAILABLE CASH ON MARCH 31, 2022: EUR 24.6 MILLION IN CASH
+ EUR
2.6 MILLION IN NON-RISKY FINANCIAL ASSETS
    * FY CASH CONSUMPTION FROM OPERATIONS: EUR 21.4 MILLION
    * OUTLOOK FOR 2022-23: WHILE MAINTAINING MOMENTUM OF ITS
RESEARCH
AND DEVELOPMENT ACTIVITIES, COMPANY ANTICIPATES A SIGNIFICANT
DECREASE IN CASH CONSUMPTION
    * ESTIMATED FINANCIAL VISIBILITY UNTIL Q3 2023
    * ONGOING NEGOTIATIONS TO SIGNIFICANTLY EXTEND VISIBILITY
THROUGH
NON-DILUTIVE TRANSACTIONS
    * IN YEAR ENDED MARCH 31, 2022, COMPANY DID NOT RECOGNIZE
ANY
MILESTONE FROM ANY TEVA PARTNERED PROGRAMS
    * FY NET LOSS EUR 24.8 MILLION VERSUS LOSS OF EUR 19 MILLION
YEAR
AGO
    * FY OPERATING LOSS EUR 23.8 MILLION VERSUS LOSS OF EUR 15.6
MILLION YEAR AGO
    * FY REVENUE EUR  4.1 MILLION VERSUS EUR 8.2 MILLION YEAR
AGO

Source text for Eikon:  ID:nBw8sx3fRa 
Further company coverage:  MEDCL.PA 

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