On Friday, Abionyx Pharma reported a cash position of 1.7 million euros at September 30, an amount which does not take into account any new sources of financing obtained since then.

The biotech company points out that this amount does not include the capital increase of three million euros carried out last month, nor the repayment of Iris Pharma's research tax credit (CIR) of 736,000 euros, which also took place in October.

With a net cash burn currently in the region of 4.5-5 million euros per annum, financial visibility now extends to the first quarter of 2025 without any further drawdown of the ORA, taking into account the CIR and revenues from services provided by the Iris Pharma business", calculate analysts at Invest Securities.

Over the first nine months of the year, the company generated sales of 3.6 million euros after elimination of intra-group transactions.

Iris is currently the only entity in the group to generate sales, as the business dedicated to the discovery and development of innovative therapies to improve patients' lives is not generating any revenue for the time being.

Copyright (c) 2023 CercleFinance.com. All rights reserved.