(AOF) – Adocia displays a cash position of 13 million euros as of December 31, 2023, compared to 17.4 million euros as of December 31, 2022, with a cash consumption of 3.8 million euros on the fourth quarter, lower than last year (23 million euros), on a comparable basis. This clinical-stage biopharmaceutical company specializing in the research and development of innovative therapeutic solutions for the treatment of diabetes and obesity estimates that it will be able to finance its activities until the end of August 2024.
“We are coming out of an eventful 2023 with a strengthened company and we are approaching 2024 with active discussions with Sanofi on M1Pram, but also with key players on AdoShell Islets,” declares Olivier Soula, CEO and co-founder of Adocia . The latter evokes “innovations with high added value which are today arousing the interest of the largest pharmaceutical laboratories”. “We are preparing to make 2024 a transformative year for Adocia.”
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.