(AOF) – Transgene displays 15.7 million euros of available cash as of December 31, 2023, compared to 26.8 million euros at the end of 2022, which gives it financial visibility until the fourth quarter of 2025. The biotech which designs and develops immunotherapies against cancer based on viral vectors shows a net loss of 22.3 million euros in 2023, compared to a net loss of 32.8 million euros in 2022. “In 2023, Transgene crossed important steps,” says CEO Alessandro Riva.
“We have obtained decisive data, which confirms the value and potential of our innovative immunotherapies to fight cancer,” he adds.
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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.