(News Bulletin 247) – Poxel today publishes its cash position, its turnover and provides an overview of its activities for the first quarter ended March 31, 2023.
The biopharmaceutical company achieved a turnover of 0.449 million euros for the quarter ended March 31, 2023, compared to 0.32 million euros for the corresponding period in 2022.
Total cash and cash equivalents was €10.6 million ($11.6 million), compared to €13.1 million ($14.0 million) as of December 31, 2022 .
Net financial debt amounted to €34.8 million as of March 31, 2023, compared to €29.5 million as of December 31, 2022.
Sumitomo Pharma’s fiscal 2022 TWYMEEG sales in Japan are more than 20% higher than Sumitomo Pharma’s forecast, which forecasts TWYMEEG’s fiscal 2023 sales growth of 90% year-on-year former.
The Company is actively seeking additional funding to initiate phase II proof-of-concept (POC) studies in adrenoleukodystrophy (ALD).
“We have successfully restructured our debt and given ourselves greater financial flexibility,” said Thomas Kuhn, CEO of Poxel.
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