DGAP-News PAION AG PUBLISHES GROUP QUARTERLY STATEMENT FOR THE FIRST QUARTER OF 2022
DGAP-News: PAION AG / Key word(s): Quarterly / Interim Statement
PAION AG PUBLISHES GROUP QUARTERLY STATEMENT FOR THE FIRST QUARTER OF 2022
- Transformation into commercial specialty pharma company continues
- Financial position strengthened to support commercial activities in Europe by sale of Chinese remimazolam patents and future royalties to Humanwell for EUR 20.5 million
- Expansion of partner networks through licensing and cooperation agreements for Latin America and Eastern Europe
- Cash and cash equivalents of EUR 15.9 million as of 31 March 2022
Aachen (Germany), 18 May 2022 – The specialty pharmaceutical company PAION AG (PA8; ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard) today reports its consolidated financial results according to International Financial Reporting Standards (IFRS) for the first quarter of 2022.
Dr. Jim Phillips, CEO of PAION AG, commented: "The first quarter of 2022 has brought further progress in our transformation into a specialty pharma company. The recent agreement with Humanwell for the sale of the remimazolam patents in China is enabling us to further expand our commercial organization in Europe. During 2022, we will launch our three products in further European countries to provide new options to address the increasing unmet medical needs in anesthesia and critical care."
Update and outlook
Highlights European product portfolio
PAION has already launched remimazolam (Byfavo) in UK, Denmark and Netherlands. Remimazolam is planned to be launched for procedural sedation in most key European markets by the end of 2022/beginning of 2023. In Germany, remimazolam will not be available until the first quarter of 2023 at the earliest, once the marketing authorization extension for general anesthesia has been granted, which is expected in the first quarter of 2023.