Brief: Poxel H1 Net Result Swings to Loss Of 5.8 Million Euros

Poxel SA

26/08/2019 17:01

Aug 26 (Reuters) - POXEL SA  POXEL.PA :
    * POXEL REPORTS FINANCIAL RESULTS FOR FIRST HALF 2019 AND
PROVIDES
CORPORATE UPDATE
    * H1 POXEL REPORTED REVENUES OF EUR 23.2 MILLION FOR FIRST
HALF OF
2019, AS COMPARED WITH EUR 37.5 MILLION DURING SAME PERIOD IN
2018
    * H1 NET INCOME LOSS EUR 5.8 MILLION VERSUS PROFIT EUR 7.3
MILLION
YEAR AGO
    * H1 OPERATING LOSS EUR 5.9 MILLION VERSUS PROFIT EUR 6.4
MILLION
YEAR AGO
    * AS OF JUNE 30, 2019, CASH AND CASH EQUIVALENTS WERE EUR
49.8
MILLION (USD 56.7 MILLION), AS COMPARED TO EUR 66.7 MILLION (USD
76.4 MILLION) AS OF DECEMBER 31, 2018
    * POSITIVE PHASE 3 TOP-LINE RESULTS WERE REPORTED FOR
IMEGLIMIN
TIMES 1 AND TIMES 3 16-WEEK PORTION OF TRIAL FOR TREATMENT OF
TYPE 2 DIABETES IN JAPAN
    * RESULTS FROM TIMES 2 AND TIMES 3 36-WEEK OPEN LABEL
PORTION OF
TRIAL ARE EXPECTED AROUND END OF 2019
    * POSITIVE TOP-LINE RESULTS WERE REPORTED FROM IMEGLIMIN
METAVANT
TRIAL IN PATIENTS WITH TYPE 2 DIABETES AND CHRONIC KIDNEY
DISEASE (CKD) STAGES 3B/4
    * A PHASE 2A PROGRAM FOR PXL770 WAS INITIATED FOR TREATMENT
OF
NASH; PK/PD RESULTS ARE EXPECTED IN Q4 2019 AND PHASE 2A
EFFICACY AND SAFETY RESULTS ARE EXPECTED IN Q2 2020
    * POXEL WILL MEET WITH U.S. FDA IN Q4 2019 TO DISCUSS NEXT
STEPS
FOR PXL065, INCLUDING A REGISTRATION PROGRAM AND USE OF ACTOS(Ò)
DATA FOR A 505(B)(2) REGISTRATION PATHWAY

Source text for Eikon:  ID:nBw348sc8a 
Further company coverage:  POXEL.PA 

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