In This Article:
-
Improved profitability of IRIS Pharma with a net income of 6% of revenues
-
Extended financial visibility to the 2nd quarter of 2026 after the support of the France 2030 plan
TOULOUSE, France & LAKELAND, Mich., March 05, 2025--(BUSINESS WIRE)--Regulatory News:
ABIONYX Pharma, (FR0012616852 - ABNX - eligible for PEA PME), a next generation biopharma company dedicated to the development of innovative biomedicines based on a recombinant apolipoprotein apoA-1 for the treatment of the most severe inflammatory diseases, today reports its 2024 full-year results as approved by the Board of Directors at its meeting of March 4, 2025. The audit procedures on the consolidated accounts have been carried out. The certification report has not been issued to date. It will be issued after the completion of the procedures required for the purposes of filing the Universal Registration Document.
Selected financial information
(as of December 31, 2024/Consolidated financial statements under IFRS)
| €m | 2024 | 2023 |
| Revenues | 4.6 | 4.6 |
| Cost of goods and services sold | (3.7) | (4.0) |
| R&D expenditure | (1.9) | (1.5) |
| Administrative and commercial expenses | (3.4) | (2.6) |
| Other income and expenses | 0.0 | 0.1 |
| Operating Income | (4.5) | (3.4) |
| Financial income | 0.2 | 0.2 |
| Financial expenses | (0.1) | (0.3) |
| Financial result | 0.1 | (0.1) |
| Net income | (4.4) | (3.5) |
| Net cash flow from operating activities | (3.6) | (3.7) |
| Net cash flow from investing activities | (0.1) | (0.1) |
| Net cash flow from financing activities | 2.8 | 3.9 |
| Change in cash and cash equivalents | 0.9 | 0.1 |
| Cash and cash equivalents at end of year | 3.2 | 4.1 |
Details of the main changes in the consolidated financial statements
As published on February 27, 2025, the ABIONYX Pharma group recorded consolidated revenues of €4.6 million for the 2024 financial year, including €4.26 million in preclinical and €0.28 million in clinical. This amount comes mainly from the contract research activity of its subsidiary IRIS Pharma, the biotech activity dedicated to the discovery and development of innovative therapies, which did not yet generate any revenues in this financial year, as the Company continues to provide its bioproduct free of charge within the framework of compassionate access authorization (CAA) requests.
The ophthalmology contract research activity (CRO) of the subsidiary IRIS Pharma remained stable in 2024 but continues to grow in pre-clinical activity, despite an unfavorable economic context in the global research sector. As the group anticipated the decline in clinical activity in general and in its own needs during this financial year, IRIS Pharma's cost structure was optimized and its profitability improved with a net income that rose from €34K in 2023 to €266K in 2024, or 6% of revenues.