(Boursier.com) — The year 2023Aten (formerly Hybrigenics) was a period marked by significant changes within the Group. Faced with global economic challenges, the company was able to react with agility and make strategic decisions to ensure its sustainability and future developments.
As of December 31, 2023, the Group’s cash and cash equivalents amounted to €2.1 million (€1.5 million at the end of 2022). This amount represents a cash flow horizon of 5 months for the entire Group.
This cash position as of December 31, 2023 takes into account the issue of convertible bonds with Vatel Capital of 1.5 ME in October 2023 and the operations carried out in March, June and August 2023 within the framework of the issue contract BEORA implemented on March 4, 2021, which made it possible to raise 1.75 ME through the issuance of 700 ORA (Bonds Redeemable in Shares). Over the 2023 financial year, ORA conversions resulted in the creation of 77,363,700 new Aton shares. The number of ORA remaining to be converted as of December 31, 2023 amounts to 720 for an amount of 1.8 ME.
Outlook
At the end of December 2023, Hybrigenics SA presented a debt to related parties (DMS Group) of 2 ME.
Quoting…
The Group has made a new start by redefining its brand and its positioning, and adopting a new name: Aton. This change reflects the company’s aspirations and commitment to innovation in medical sciences. The company’s new name affirms its technological know-how supporting the emergence of a new generation of treatments.
Due to the unfavorable overall economic conditions in the sector having a negative impact on the group’s turnover and cash flow, Aton has decided to postpone the performance objectives planned for 2025, and in particular the objective of 60 ME in turnover. to a later exercise. “This will allow the company to better adapt to current challenges,” indicates the company’s management.
In 2024, the Aton Group intends to record growth in activity, less sustained than the expected level and which should not allow the achievement of operational balance due to the maintenance of a certain number of investments within the subsidiaries .
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