Brief: Poxel Announces Cash Runway Extended Through Q2 2025

Poxel SA

23/03/2023 06:46

March 23 (Reuters) - Poxel Sa  POXEL.PA :
    * POXEL ANNOUNCES CASH RUNWAY EXTENDED THROUGH Q2 2025 BASED
UPON
DEBT RESTRUCTURING AGREEMENT AND NEW EQUITY-LINKED FINANCING
FACILITY
    * COMPANY EXPECTS THAT ITS RESOURCES WILL BE SUFFICIENT TO
FUND
ITS OPERATIONS AND CAPITAL EXPENDITURE REQUIREMENTS THROUGH Q2
2025
    * COMPANY ACTIVELY PURSUING ADDITIONAL FINANCING TO INITIATE
ADRENOLEUKODYSTROPHY (ALD) PROOF-OF-CONCEPT (POC) STUDIES
    * RESTRUCTURING OF COMPANY'S DEBT POSTPONES INITIATION OF
REPAYMENTS TO Q1 2025, TO BE REPAID WITH POSITIVE NET ROYALTY
FLOW TO POXEL ANTICIPATED TO START IN SUMITOMO PHARMA'S FY2024
BASED ON STRONG GROWTH TRAJECTORY OF TWYMEEG(®) (IMEGLIMIN)
SALES

Source text for Eikon:  ID:nBw3YxwKba 
Further company coverage:  POXEL.PA 

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