(CercleFinance.com) – MedinCell set itself the objective on Wednesday of achieving operational profitability ‘as soon as possible’ and generating additional revenues through new partnerships with a view to extending its cash flow visibility.
Over the first half of its 2022/2023 financial year, ended at the end of September, the biopharmaceutical company suffered a net loss of 8.2 million euros, compared to a shortfall of 13.7 million over the first half of the financial year. previous.
Revenue from ordinary activities increased 6.1% to €8.2 million, including €3.6 million related to milestone payments following FDA approval of Uzedy, his treatment for schizophrenia.
The company says it has also collected the very first royalties of 0.6 million euros, calculated on net sales made by Teva from mid-May to the end of September.
As of September 30, MedinCell had cash and cash equivalents of 26.8 million euros, compared to 6.5 million as of March 31.
The first results of its phase 3 clinical trial on mdc-TJK, the second antipsychotic developed with Teva, are now expected in the second half of 2024.
The recruitment of the phase 3 clinical trial on the mdc-CWM program in post-operative pain is coming to an end, with the analysis of
efficiency results expected in the first quarter of 2024.
Listed on the Paris Stock Exchange, MedinCell shares fell by more than 4% on Wednesday morning following all these announcements.
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