ABIONYX Pharma Announces Its 2024 Half-Year Financial Results
26 Septembre 2024 - 6:40PM
Business Wire
Regulatory News:
ABIONYX Pharma, (FR0012616852 - ABNX - PEA PME
eligible), a new generation biotech company dedicated to the
discovery and development of innovative therapies based on the
world's only recombinant apoA-1, today announces its financial
results for the first half of 2024.
Selected financial information (as of June 30,
2024/Consolidated financial statements under IFRS)
€m
H1 2024
H1 2023
Revenues
2.34
2.13
Cost of goods and services sold
(2.04)
(2.14)
R&D expenditure
(0.86)
(0.76)
Administrative and commercial expenses
(1.58)
(1.46)
Operating Income
(2.12)
(2.23)
Financial income
0.11
0.10
Financial expenses
(0.07)
(0.12)
Financial result
0.04
(0.02)
Net income
(2.09)
(2.25)
€m
H1 2024
2023
Net cash flow from operating
activities
(1.87)
(3.69)
Net cash used in investing activities
(0.03)
(0.13)
Net cash flow from financing
activities
3.10
3.89
Change in cash and cash
equivalents
1.20
0.58
Cash and cash equivalents at end of
year
5.30
4.10
Details of the main changes in the consolidated financial
statements
The Group recorded consolidated half-year revenues of €2,344K,
an increase compared with June 30, 2023. As a reminder, IRIS Pharma
is the only Group subsidiary to generate revenues by June 30, 2024.
The Group did not entrust any studies to IRIS Pharma during the
first half of 2024. With regard to the discovery and development of
innovative therapies designed to improve the lives of patients, the
Company did not generate revenues during the first half of 2024, as
ABIONYX Pharma continues to provide its bioproduct free of charge
as part of applications for compassionate access authorisation
(CAA).
Research and development expenditures amounted to €861K as of
June 30, 2024, compared with €759K as of June 30, 2023. On June 13,
2024, ABIONYX Pharma successfully passed the pre-IND meeting with
the FDA for a phase 2b/3 clinical study evaluating CER-001 in the
treatment of patients with sepsis.
Administrative and commercial expenses amounted to €1,579K as of
June 30, 2024, compared with €1,464K as of June 30, 2023.
After taking these expenses into account, the operating result
showed a loss of €2,124K as of June 30, 2024€, compared to a loss
of 2,288K as of June 30, 2023.
The financial income was €36K as of June 30, 2024, compared to a
loss of €20K in the first half of 2023. The financial income is
mainly due to income from the investment of cash surpluses.
The net loss amounted to €2,088K as of June 30, 2024, compared
to a loss of €2,248K as of June 30, 2023.
Cash and cash equivalents, before collection of IRIS Pharma 2023
French Research Tax Credit (CIR) for a total of €0.6 million,
amounted to €5.3 million as of June 30, 2024, compared with €4,1
million as of December 31, 2023.
At the end of June 2024, the Company raised €3.4 million to
strengthen its cash position as part of the development of its
program in sepsis and in the United States, following the
successful pre-IND meeting with the FDA. This extends the Company's
financial visibility until the end of 2025.
ABIONYX Pharma is pursuing the development of its strategic plan
to find a partner for its sepsis biomedicine in the United
States.
The Half-Year financial report as of June 30, 2024, has been
made available to the public and published on the website of the
Autorité des Marchés Financiers (AMF).
About ABIONYX Pharma
ABIONYX Pharma is a new generation biotech company that aims to
contribute to health through innovative therapies in indications
where there is no effective or existing treatment, even the rarest
ones. Thanks to its partners in research, medicine,
biopharmaceuticals and shareholding, the company innovates on a
daily basis to propose drugs for the treatment of renal and
ophthalmological diseases, or new HDL vectors used for targeted
drug delivery.
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NewCap Investor relations Nicolas Fossiez Louis-Victor
Delouvrier abionyx@newcap.eu +33 (0)1 44 71 98 53
NewCap Media relations Arthur Rouillé abionyx@newcap.eu
+33 (0)1 44 71 00 15
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