Poxel announced on Thursday that it has extended its financial visibility until 2025 thanks to the restructuring of its debt and the establishment of a new equity financing line.

The biopharmaceutical company says that the restructuring of its debt will enable it to postpone the start of its first repayments until the first quarter of 2025, which it expects to achieve thanks to its royalty streams.

Indeed, the company is confident about the level of future royalties on its anti-diabetic Twymeeg and its ability to generate substantial cash flows from 2024 onwards under the partnership signed with Japan's Sumitomo Pharma.

As for the new equity financing line signed with holding company Iris, it provides for an initial drawdown of 3.5 million euros.

While the company's financial visibility has now been extended to the end of Q2 2025, Poxel says it is actively seeking additional financing to launch Phase II proof-of-concept studies in adrenoleukodystrophy (ALD).

The share price fell by 5.9% on Thursday following this publication.

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