(News Bulletin 247) – Poxel announced on Thursday that it has extended its financial visibility until 2025 thanks to the restructuring of its debt and the establishment of a new line of equity financing.
The biopharmaceutical company indicates that the restructuring of its debt will allow it to postpone until the first quarter of 2025 the start of its first reimbursements, which it plans to make thanks to its royalty flows.
The company says it is confident about the level of future royalties on its anti-diabetic Twymeeg and its ability to generate substantial cash flow from 2024 under the partnership signed with the Japanese company Sumitomo Pharma.
As for the new equity financing line concluded with the holding company Iris, it provides for a first drawdown of 3.5 million euros.
While the company’s financial visibility is now extended until the end of the 2nd quarter of 2025, Poxel says it is actively seeking additional funding to launch phase II proof-of-concept studies in adrenoleukodystrophy (ALD).
The action yielded 5.9% on Thursday following this publication.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
