Poxel shares were down on the Paris Bourse on Thursday, despite analysts hailing the biopharmaceutical company's "comfortable" visibility.

At 2.30pm, the stock was down 1.5%, while at the same time the CAC Mid & Small index was up 0.6%.

The Lyon-based company, which specializes in the treatment of metabolic diseases such as NASH, posted sales of 955,000 euros in the first six months of the year, compared with just 83,000 euros a year earlier.

This figure comes from royalties received from Sumitomo Pharma, the partner responsible for marketing Twymeeg, its type 2 diabetes drug, in Japan.

In addition, financial visibility is "relatively comfortable" in the opinion of Invest Securities' analysts.

Taking into account the full drawdown of the equity financing line set up with Iris, cash and cash equivalents stood at 7.6 million euros at the end of June, i.e. a financing horizon up to the end of Q2 2025.

Taking into account the tranches already drawn down, the company estimates that its resources will be sufficient to finance its operations and investment needs until January 2024.

Copyright (c) 2023 CercleFinance.com. All rights reserved.