(CercleFinance.com) – The title Crossject lost more than 9% on Tuesday on the Paris Stock Exchange after the specialist in needleless self-injection reported a widening of its annual losses.
The group, which aims to become the world leader in self-administered emergency medicines, saw its net loss widen to 11.2 million euros last year, against -10.7 million euros in 2021 .
Over this period, the company nevertheless recorded a very strong increase in its operating income, which increased by 43% to reach 9.7 million euros.
Despite ‘maintained’ vigilance in terms of costs, its operating expenses also increased, signifying a rise of 24% to more than 23 million euros.
As of December 31, 2022, cash totaled €8 million, compared to €10 million at the end of 2021, an amount to which are added six million euros received from non-dilutive financing announced at the end of the year and 3.8 million of this same plan still to be collected, of which two million are conditional on obtaining emergency use authorization from the FDA.
The company does not specify its financing horizon, but says it is ‘confident’ in its ability to find the means of financing necessary for the continuation of its development following the ‘very high visibility’ acquired in recent months.
Crossject says it aims to begin shipments of its epilepsy product as early as the end of 2023, again subject to obtaining emergency use authorization from the FDA.
On the Paris Stock Exchange, the action fell by 9.1% following all these announcements.