Toulouse - ABIONYX Pharma (FR0012616852 - ABNX - PEA PME eligible), a new generation biotech company dedicated to the discovery and development of innovative therapies for patients, today announces its annual results for the financial year ending 31 December 2020 and provides an update on activity to date.
Audit procedures on the consolidated financial statements have been carried out. The certification report will be issued after completion of the procedures required for the filing of the universal registration document.
Details of the main changes in the consolidated financial statements
As ABIONYX Pharma's activities are dedicated to the discovery and development of innovative therapies to improve the lives of patients, the company did not generate any revenues in the financial year 2020.
Research and development expenses amounted to EUR1,698 K over the period, compared to EUR744 K for the financial year 2019. This level of expenditure includes the initial costs relating to the new CER-001 production campaign and costs related to exploratory studies for the valuation of its existing assets.
General and administrative expenses amounted to EUR1,270 K in 2020 compared to EUR1,781 K the previous year. The decrease is mainly due to lower fees and continued efforts to control current expenses.
After taking all these factors into account, operating profit fell from a loss of EUR2,525 K at 31 December 2019 to a loss of EUR2,968 K at 31 December 2020.
Following Bpifrance's debt waiver following the total technical failure of the CER-209 project for which a repayable advance had been granted, financial income of EUR900 K was recognised in December 2020. Financial income thus amounted to EUR1,082 K at December 31, 2020, compared with EUR4,412 K at December 31, 2019.
The net result was a loss of EUR1,886 K at 31 December 2020 compared with a profit of EUR1,849 K at 31 December 2019.
Cash and cash equivalents amounted to EUR9,154 K at 31 December 2020, compared with EUR8,331 K at 31 December 2019. The Company obtained the repayment of the 2018 and 2019 CIRs for a cumulative amount of EUR1,725 K, to which was added the amount of EUR1,860 K following the capital increase of October 2020.
About ABIONYX Pharma
ABIONYX Pharma is a new generation biotech company dedicated to the discovery and development of innovative therapies for patients. The biotech assets inherited from CERENIS Therapeutics constitute a rich portfolio of valuable programs for the treatment of metabolic diseases as well as with a HDL targeted drug delivery platform.
Contact:
Louis-Victor Delouvrier
Tel: +33 (0)1 44 71 98 53
Email: abionyx@newcap.eu
ABIONYX PHARMA 
