(Boursier.com) — TME Pharma NV records a net loss for the 2023 financial year of -6.74 million euros compared to -15.13 ME for the 2022 financial year. The reduction in cash consumption is more than 50%, The NOX-A12 GLORIA study in brain cancer is being finalized with exceptional clinical data.
TME Pharma managed to strengthen its balance sheet by raising 4.8 ME (gross amount) in 2023. Taking into account cash and cash equivalents of 2.2 ME as of December 31, 2023, and 2.55 ME (gross) additional funds raised in 2024 since the start of the year, TME Pharma has financial visibility until July 2024.
On the scientific levelthe evaluation of NOX-A12, in combination with bevacizumab and radiotherapy, made it possible to obtain very promising survival data compared to the reference cohort of standard treatment: 21-month survival rate 10 times higher (50% versus 5%) and median overall survival almost doubled (19.9 months versus 10.5 months).
On the other hand, the FDA approved the initiation application (IND) for the phase 2 clinical trial of NOX-A12 in brain cancer and pancreatic cancer.
Finally, the FDA Fast Track designation granted to NOX-A12 in brain cancer provides increased visibility on the regulatory pathway to access the US market.
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