(CercleFinance.com) – Transgene announced last night that it has widened its losses in 2022, the slight decline in its expenses not having been enough to offset the more marked decline in its most operating income.
The therapeutic vaccine specialist says it suffered a net loss of 32.8 million euros last year, compared to a net loss of 19.5 million euros in 2021.
Its operating income decreased to 10.3 million, compared to 17.4 million euros in 2021, due to a drop in R&D services for third parties, mainly from the collaboration with AstraZeneca.
Its net operating expenses fell slightly, to 40.2 million euros, against 40.9 million euros in 2021.
The biotech indicates that its net cash consumption amounted to 22.8 million euros in 2022, compared to 10 million euros in the previous financial year.
With 26.8 million euros in available cash as of December 31, 2022, compared to 49.6 million euros at the end of 2021, Transgene says it has financial visibility until the start of 2024.
The company recalls, however, that it still holds shares of Tasly BioPharmaceuticals revalued at 14.3 million euros as of December 31, 2022, a stake that it plans to sell by mid-2023.
On the Paris Stock Exchange, following this publication, the Transgene share fell by 2.4%. It has posted a gain of 18% since the start of the year for a market capitalization close to 196 million euros.
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