Poxel has announced the postponement of its Annual General Meeting pending the finalization of financing discussions concerning the monetization of royalties in Japan.

At June 30, the biopharmaceutical company had cash and cash equivalents of €2.8 million.

In a press release, the company considers this cash horizon sufficient until the conclusion of exclusive discussions with a leading investor to monetize royalties from sales of its anti-diabetic Twymeeg in Japan.

This outlook includes only the tranches already drawn down or fully available under the equity financing line put in place with IRIS.

Poxel adds that it has decided to postpone its 2024 Annual General Meeting, which remains subject to the publication of full-year results for 2023.

On the Paris Bourse, Poxel shares climbed 15% on Monday following the publication of these announcements.

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