Poxel today published its cash position, sales and business review for the first quarter ended March 31, 2023.

The biopharmaceutical company reported sales of 0.449 million euros for the quarter ended March 31, 2023, compared with 0.32 million euros for the corresponding period in 2022.

Total cash and cash equivalents amounted to 10.6 million euros ($11.6 million), compared with 13.1 million euros ($14.0 million) at December 31, 2022.

Net financial debt amounted to 34.8 million euros at March 31, 2023, compared with 29.5 million euros at December 31, 2022.

TWYMEEG's sales in Japan for Sumitomo Pharma's fiscal year 2022 are more than 20% ahead of Sumitomo Pharma's forecasts, which predict TWYMEEG sales growth for its fiscal year 2023 of 90% year-on-year.

The Company is actively seeking additional financing to launch Phase II proof-of-concept (POC) studies in adrenoleukodystrophy (ALD).

' We have successfully restructured our debt and given ourselves greater financial flexibility', stresses Thomas Kuhn, Poxel's CEO.

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