(News Bulletin 247) – Advicenne reduced its losses in 2022 thanks to an increase in sales and a drop in operating expenses, which did not have much impact on the stock on the Paris Stock Exchange.
The pharmaceutical company recorded operating losses of 10.1 million euros last year compared to 12.4 million euros in 2021.
The laboratory specializing in nephrology explains this improvement of almost 20% by a significant reduction in its operating expenses, which fell from 16.2 to 13.1 million euros from one year to the next.
In total, the net result shows a loss of 11.5 million euros, compared to -12.4 million euros in 2021.
In its press release, Advicenne says it closed the 2022 financial year with net cash of 8.3 million euros, an amount it considers sufficient to ensure its funding horizon until the first quarter of 2024.
Regarding its prospects, Advicenne explains that it plans to accelerate the growth of sales of its main product, Sibnayal, in Europe this year, directly and through signed partnerships.
The company also intends to enter into new commercial agreements for this treatment for distal renal tubular acidosis (dRTA) in other geographies.
After having climbed by more than 6% in the morning following this publication, the title Advicenne erased a large part of its gains and only progressed by 1.4% on Friday in the middle of the afternoon on the Paris Bourse. .
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