What's Happening?
Poxel, a clinical-stage biopharmaceutical company, has released its financial results for the year ending December 31, 2024. The company reported consolidated revenue of EUR 6.6 million, a significant
increase from EUR 2.0 million in 2023. This growth is largely attributed to royalties from TWYMEEG® sales in Japan. Despite the revenue increase, Poxel is undergoing judicial reorganization proceedings due to financial challenges, including a net loss of EUR 18.3 million for 2024. The company has initiated a six-month observation period to develop a continuation plan, which will be submitted to shareholders for approval. Poxel's cash position as of September 30, 2025, was EUR 1.2 million, bolstered by a bond financing facility from IPF Partners.
Why It's Important?
The financial results and ongoing reorganization proceedings are critical for Poxel's future operations and its stakeholders. The company's ability to continue as a going concern is uncertain, impacting its strategic partnerships and market position. The reorganization aims to stabilize Poxel's financial health, which is crucial for maintaining investor confidence and ensuring the continued development of its innovative treatments. The outcome of these proceedings will significantly affect Poxel's operational capabilities and its ability to capitalize on its assets, such as TWYMEEG®, which has shown promising sales growth in Japan.
What's Next?
Poxel is working on a continuation plan during the observation period, which will be crucial for its financial recovery. The plan's approval by shareholders will determine the company's future direction. Additionally, Poxel's next Annual General Meeting is scheduled for December 11, 2025, where the 2024 financial statements and the continuation plan will be presented. The company's ability to secure further financing and manage its debt obligations will be pivotal in extending its cash runway and achieving long-term viability.
