In This Article:
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Revenue: JPY300 million (EUR2 million) royalty revenue from Sumitomo Pharma for TWYMEEG sales in Japan.
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R&D Expenses: EUR4.4 million, decreased from 2022, plus EUR16.6 million impairment for PXL065.
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Tax Credit: EUR0.6 million in 2023, down from EUR1.5 million in 2022.
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General Administrative Expenses: EUR8.4 million in 2023, down from EUR9.4 million in 2022.
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Financial Loss: EUR6.3 million in 2023, compared to EUR9.5 million in 2022.
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Net Loss: EUR35.1 million in 2023, compared to EUR31.4 million in 2022.
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Cash and Cash Equivalents: EUR2.3 million at the end of 2023, down from EUR13.1 million at the end of 2022.
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Shareholders' Equity: Minus EUR49.1 million at the end of 2023, compared to minus EUR18.2 million at the end of 2022.
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Total Liabilities: EUR47.5 million in 2023, up from EUR44.2 million in 2022.
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Cash Burn from Operating Activities: EUR14 million for 2023, down from EUR21.8 million in 2022.
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Cash Flow from Financing Activities: EUR3.2 million at the end of 2023.
Release Date: October 03, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Poxel SA (STU:7PO) reported strong growth in the commercialization of TWYMEEG in Japan, with sales expected to surpass significant thresholds, potentially increasing royalty rates.
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The company successfully concluded a monetization agreement with OrbiMed, securing a one-time cash payment of USD 50 million, which will help reduce debt and support strategic initiatives.
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Poxel SA has regained rights to territories outside Japan for TWYMEEG, opening opportunities for new partnerships and leveraging existing clinical data.
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The company has a clear roadmap for developing its metabolic disease pipeline, focusing on rare diseases with significant unmet needs.
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Poxel SA's financial restructuring efforts, including debt reduction and favorable restructuring terms, are expected to extend its cash runway until the end of 2025.
Negative Points
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Poxel SA reported a net loss of EUR 35.1 million for 2023, an increase from the previous year's loss of EUR 31.4 million.
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The company's cash and cash equivalents significantly decreased from EUR 13.1 million at the end of 2022 to EUR 2.3 million at the end of 2023.
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The financial liabilities increased to EUR 47.5 million in 2023, reflecting substantial debt obligations.
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There is uncertainty regarding the timeline for finalizing partnerships in China and other regions, which could impact future revenue streams.
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The company faces challenges in entering the US and European markets due to different regulatory requirements and existing market dynamics.