Poxel Provides Corporate Update and Reports Cash and Revenue for the Third Quarter and Nine Months 2023

Regulatory News:

POXEL SA (Euronext : POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today provided a corporate update and announced its cash position and revenue for the third quarter and the nine months ended September 30, 2023.

“We are extremely satisfied with TWYMEEG strong growth trajectory over this past quarter, with an almost 30% growth reported by our partner, Sumitomo Pharma. It is a sustained confirmation of the value of TWYMEEG to treat patients with type-2-diabetes. Also, if the current trend is maintained, we could expect to exceed Sumitomo Pharma’s FY 2023 forecast, which would entitle us to higher royalties on all TWYMEEG net sales and a sales-based payment of EUR 3.4 million² sooner than expected,” stated Thomas Kuhn, Chief Executive Officer of Poxel. “We are still in active discussions with investors and potential partners as we are focused on securing additional fundings to move forward our rare diseases strategy and launch Phase 2 Proof-of-Concept (POC) studies in ALD.”

Third Quarter and Nine Months Ended September 30, 2023, Cash and Revenue

Cash

As of September 30, 2023, total cash and cash equivalents were EUR 5.3 million (USD 5.6 million), as compared to EUR 7.6 million as of June 30, 2023.

EUR (in thousands)	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Cash	5,265	7,597	10,629	13,058
Cash equivalents	-	-	-	-
Total cash and cash equivalents*	5,265	7,597	10,629	13,058
Unaudited data * Net financial debt (excluding IFRS 16 impacts and derivative debts) was EUR 41.4 million at the end of Q3 2023 as compared to EUR 37.7 million at the end of Q2 2023.