Poxel: sales triple in 2024, but cash flow worries

(CercleFinance.com) - Biopharmaceutical company Poxel announced on Wednesday evening that its sales had more than tripled last year, but its cash position seems to be worrying investors.


Poxel reports consolidated sales of 6.6 million euros for fiscal year 2024, compared with two million euros in the previous year.

The company explains that this growth mainly reflects the 580 million yen (3.6 million euros) in royalties received from Sumitomo Pharma for sales of the anti-diabetic Twymeeg in Japan.

However, this progress is overshadowed in the eyes of investors by the Group's delicate financial situation, with cash and cash equivalents down to 3.7 million euros at December 31, 2024, compared with 13.1 million euros at September 30, 2024.

In a press release, the company cites a 'severely impacted' financial outlook, generating significant uncertainty as to its ability to continue as a going concern.

Poxel says it is actively seeking potential solutions with its creditors.

Following this publication, the share lost over 4% at mid-day on the Paris Bourse.

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