Brief: Poxel End-June Net Loss Widens To 12.1 Million Euros

Poxel SA

15/09/2020 16:47

Sept 15 (Reuters) - Poxel SA  POXEL.PA :
    * H1 REVENUE 6.4 MILLION EUR VERSUS 23.2 MILLION EUR YEAR
AGO
    * IMEGLIMIN NEW DRUG APPLICATION IN JAPAN (J-NDA) WAS
SUBMITTED
FOR TREATMENT OF TYPE 2 DIABETES IN Q3 2020 AND A TARGET LAUNCH
IS EXPECTED IN 2021
    * MILESTONE PAYMENT OF EUR 4 MILLION WAS RECEIVED IN Q3 2020
FROM
SUMITOMO DAINIPPON PHARMA
    * STRENGTHENED FINANCIAL POSITION DURING H1 2020 WITH
DRAWDOWN OF
IPF LOAN OF EUR 10 MILLION AND A CAPITAL RAISE OF EUR 17.7
MILLION
    * INITIATED PXL065 PHASE 2 TRIAL IN BIOPSY-PROVEN NASH
PATIENTS IN
Q3 2020
    * PXL770, A FIRST-IN-CLASS DIRECT AMPK ACTIVATOR PRODUCED
POSITIVE
RESULTS IN A PHARMACOKINETIC (PK) / PHARMACODYNAMIC (PD) TRIAL
IN LIKELY-NASH PATIENTS; PXL770 PHASE 2A EFFICACY AND SAFETY
RESULTS EXPECTED AROUND END OF SEPTEMBER 2020
    * NET RESULT FOR FINANCIAL PERIOD ENDING JUNE 30, 2020 WAS A
NET
LOSS OF EUR 12.1 MILLION, AS COMPARED TO A NET LOSS OF EUR 9.8
MILLION IN CORRESPONDING PERIOD IN 2019
    * AS OF JUNE 30, 2020, CASH AND CASH EQUIVALENTS WERE EUR
46.0
MILLION AS COMPARED TO EUR 37.2 MILLION  AT DECEMBER 31, 2019
    * COMPANY HAS NOT IDENTIFIED OCCURRENCE OF ANY MATERIAL
NEGATIVE
EFFECT ON ITS BUSINESS DUE TO COVID-19 PANDEMIC THAT REMAINS
UNRESOLVED
    * COMPANY ANTICIPATES THAT COVID-19 PANDEMIC COULD HAVE
FURTHER
MATERIAL NEGATIVE IMPACT ON ITS BUSINESS OPERATIONS

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

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