(AOF) – Quantum Genomics posts a net loss of 3.2 million euros as of December 31, 2023. The medtech has available cash of 3.50 million euros as of December 31, 2023, compared to 10.40 million euros. euros as of December 31, 2022. CEO Jean-Philippe Milon speaks of a “year of refoundation” after the cessation of development of firibastat and the period of restructuring that followed. He invites shareholders to vote “massively” at the general meeting of April 24 in favor of the merger with ExactCure announced in December 2023.
“We worked to preserve our cash flow by restructuring our workforce and our supplier debt so as to be able to launch a new, valuable and sustainable business project” continues the boss. “It is thanks to our unfailing will and the renewed confidence of our shareholders, first and foremost, Otium Capital, that we are approaching 2024 with confidence,” he concludes.
ExactCure is a French HealthTech developing a device combining artificial intelligence and mathematical modeling, making it possible to “simulate the behavior that a medication will have when taken by the patient and thus to best adapt the treatment according to individual characteristics of each patient. The entity resulting from the merger would, according to management, become “one of the first Digital Health companies listed on the Euronext Growth market”.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.