(AOF) – Adocia, a clinical-stage biopharmaceutical company specializing in the research and development of innovative therapeutic solutions for the treatment of diabetes and other metabolic diseases, has announced its financial results for the first half of 2022. Its net income is show a profit of 4.25 million euros against a loss of 10.6 million euros a year earlier. The half-year turnover amounts to 7.3 million euros against 0.4 million euros a year earlier.
Performance allowed after the achievement of major milestones with its industrial partner Tonghua Dongbao.
The cash position strengthened to €23.9 million from €15.2 million at December 31, 2021.
“Financially, we have carried out a very good transaction with the sale of our building and the receipt in March 2022 of 19 million euros, immediately available to develop our innovations”, commented Valérie Danaguezian, Chief Financial Officer.
Who adds: “This first half was also marked by the receipt of the first milestone payment provided for in the contract signed in 2018 with Tonghua Dongbao for the development of BC Lispro. Beyond the significant impact on our cash flow (4 .2 million euros), this major advance allows us better visibility of the next steps and their impact on our 3-year plan”.
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