Poxel (POXEL) Q2 2024 TU earnings summary

Executive summary

• Patent term extension in Japan for TWYMEEGⓇ extends product protection until 2036, enhancing long-term value.

• Exclusive negotiations underway to monetize royalties from TWYMEEGⓇ sales in Japan, aiming to secure non-dilutive financing.

• Cash and cash equivalents stood at EUR 2.8 million as of June 30, 2024, with a cash horizon sufficient until completion of the royalty monetization transaction.

• Annual General Meeting rescheduled, pending finalization of 2023 financial statements and completion of key financing transaction.

Financial highlights

• Cash and cash equivalents increased to EUR 2.8 million as of June 30, 2024, from EUR 2.3 million at December 31, 2023.

• Net financial debt (excluding IFRS16 and derivatives) rose to EUR 46.6 million from EUR 45.6 million over the same period.

Outlook and guidance

• Resources, including available funds and drawn tranches, are expected to cover operations and capital expenditure until the royalty monetization process is completed.

• No R&D expenses and strict control of operating costs are assumed in the cash runway estimate.