(CercleFinance.com) – Poxel gained more than 3% in Paris, while Degroof Petercam announced on Monday that it was maintaining its buy recommendation and its price target of 11.6 euros on the stock after the announcement this morning of the establishment of a line of financing intended to extend the financing horizon of the biopharmaceutical company.
In a research note, the Belgian investment bank considers this to be a ‘necessary’ measure given the company’s current cash position.
Degroof, however, mentions an option that is ‘far from ideal’ given the future dilution that will affect existing shareholders.
For the institution, it is more the method of financing that will be chosen for the launch of clinical trials in X-linked adrenoleukodystrophy (ALD), a rare neurometabolic disease, which is of the most strategic importance in the short term. .
More generally, Degroof Petercam considers that the highlight of this year 2022 will remain the publication of the conclusions of the phase II study in NASH, still expected by the end of the third quarter.