Poxel Reports Financial Results for Full Year 2022 and Provides Corporate Update… – Press Release

  • The Company announced today the extension of the cash runway through Q2 2025 based upon a debt restructuring agreement and a new equity-linked financing facility
  • Restructuring of the Company’s debt postpones initiation of repayments until Q1 2025, to be repaid with positive net royalty1 flow to Poxel anticipated to start in Sumitomo Pharma’s FY20242 based on the strong growth trajectory of TWYMEEG® (Imeglimin) sales
  • TWYMEEG sales in Japan grew 90% over the prior quarter, leading to a 20% increase of the fiscal year 20223 forecast4
  • Company actively pursuing additional financing to initiate adrenoleukodystrophy (ALD) Phase 2 Proof-of-Concept (POC) studies
  • Phase 2 NASH Trial (DESTINY-1) for PXL065 met its primary efficacy endpoint for liver fat content reduction at 36 weeks for all doses
  • As of December 31, 2022, cash and cash equivalents were EUR 13.1 million (USD 14 million)5, with cash runway through Q2 2025

The management team will host webcast conference calls today; March 23 at:

  • 1:00 pm CET, Paris time (8:00 am ET) in French and
  • 9:45 am ET, New York time (2:45 pm CET) in English.

A presentation will be available on Poxel’s website in the Investor section.

To register for the webcast in French: https://app.livestorm.co/newcap-1/presentation-des-resultats-annuels-2022-de-poxel?type=detailed

To register for the webcast in English: https://app.livestorm.co/newcap-1/duplicata-presentation-of-poxel-and-39s-2022-full-year-results-copie?type=detailed

Regulatory News:

POXEL SA POXEL POXEL, a clinical stage biopharmaceutical company developing innovative treatments for serious chronic diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today announced its results for the year ended December 31, 2022 and provided a corporate update.

“This past September marked the anniversary of the first year of commercialization of TWYMEEG, our first approved drug, for type-2-diabetes patients…