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Pixium Vision announces its cash position at 31 March 2021 and provides an update on its activities and financial outlook until the end of 2021.

Nachrichtenquelle: globenewswire
18.04.2021, 19:00  |  128   |   |   

Pixium Vision announces its cash position at 31 March 2021 and provides an update on its activities and financial outlook until the end of 2021.

Paris, 16 April 2021 – 6:00 p.m. CEST - Pixium Vision (Euronext Growth Paris - FR0011950641 - ALPIX), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, announces a cash position of €9.7 million at 31 March 2021 and reports on its key developments.

Statement of cash flows summary    
In thousands of € 31/03/2021 31/03/2020
Cash and cash equivalents at 1 January 10,566.0 6,821.3
(Decrease)/Increase in cash position (818.4) (1,990.7)
O/W net cash flows from operating activities (3,639.4) (2,475.3)
O/W net cash flows from investment activities (10.8) (5.9)
O/W net cash flows from financing activities 2,831.8 490.5
Closing cash and cash equivalents 9,747.6 4,830.6

Net cash outflow from operating activities in the first three months of 2021 totalled €3.6 million, compared to €2.5 million one year earlier. The increased cash outflow was primarily due to the launch of the PRIMAvera clinical trial in Europe and the work begun in connection with the proposed business combination with Second Sight Medical Products, Inc.1

During Q1 2021, investments were not material and consisted primarily of purchases of industrial and laboratory equipment.

At 31 March 2021, net cash provided by financing activities totalled €2.8 million, primarily following the drawdown of a €1.25 million tranche and, subsequently, two €1.0 million tranches of the financing set up with ESGO.

In total, at 31 March 2021, Pixium Vision’s cash position amounted to €9.7 million, compared to €10.6 million on 1 January 2021. Given its current cash position and secured sources of financing, the Company’s financial runway extends until the end of this year or the beginning of next year.

In addition, Pixium Vision is continuing to explore various avenues that will enable it to secure the cash flow necessary to pursue its development. In particular, the Company is considering several financing offers it recently received and, at the appropriate time, will disclose to the market the main terms of any offer it accepts and will submit them for the approval of the shareholders at the next general meeting if the timing for convening the meeting allows.

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Pixium Vision announces its cash position at 31 March 2021 and provides an update on its activities and financial outlook until the end of 2021. Pixium Vision announces its cash position at 31 March 2021 and provides an update on its activities and financial outlook until the end of 2021. Paris, 16 April 2021 – 6:00 p.m. CEST - Pixium Vision (Euronext Growth Paris - FR0011950641 - ALPIX), a …

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