Acticor Biotech released its annual financial results last night, showing that the biopharmaceutical company is in a position to finance its operations until September.

At December 31, the company had cash and cash equivalents of 3.9 million euros, compared with 6.6 million euros at December 31, 2022.

In a press release, the company estimates its financing requirements up to June 30, 2025 at eight million euros, with no further new clinical studies.

For the record, Acticor carried out a capital increase worth a total of eight million euros last March.

While the biotech believes that it has "reasonable assurance" of finding adequate financing, it cannot guarantee that it will be able to obtain it on acceptable terms.

As a result, there is significant uncertainty about the company's ability to continue as a going concern, the company points out in its press release.

Last April, Acticor announced that its Phase 2/3 study in the treatment of stroke had failed to show the efficacy of its glenzocimab.

Following this publication, the share price fell by nearly 4% by mid-day, bringing its decline since the start of the year to 82%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.