(CercleFinance.com) – Poxel fell sharply on Tuesday on the Paris Stock Exchange after announcing in the morning a near doubling of its losses during the first half.
Around 2:00 p.m., the stock dropped more than 14%, one of the biggest drops on the Parisian market, bringing its market capitalization down to less than 15 million euros.
The biopharmaceutical company recorded a net loss of 26.2 million euros in the first six months of the year, compared with 13.4 million euros in the corresponding period last year.
Its turnover reached 955,000 euros for the half-year, compared to 83,000 euros over the same period in 2022, thanks to royalties from Sumitomo Pharma, which represents 8% of net sales of Twymeeg, its treatment against type 2 diabetes in Japan.
As of June 30, 2023, the cash position amounted to 7.6 million euros, ensuring a financing horizon until the end of the 2nd quarter of 2025, including the drawing of financing set up with the capital fund. Iris investment.
But based on the tranches already drawn or fully available, Poxel expects that its resources will be sufficient to finance its operations and capital expenditures until January 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Are you following this action?
Receive all the information on POXEL in real time: