Metabolic Explorer ended 2023 with a reduced gross cash position of 18.9 million euros, compared with 47.9 million at the end of June 2023.

Faced with these cash pressures, the vere chemistry company says it has implemented efforts to control cash consumption and enable it to secure its financing needs over the 1st half of 2024.

The company, which manufactures natural ingredients for the
animal nutrition market, says that the next few weeks
will be "decisive" in restoring profitability and securing
short and medium-term financing.

As part of its search for financing, Metex says it is in advanced discussions
with several potential industrial partners.

These announcements come at a time when the group saw its sales of specialty amino acids rise by 55% in the 4th quarter, an increase more than offset by the fall in sales of commodities, down to 5.9 million euros in the 4th quarter
from 25.5 million euros a year earlier, due to intensifying competition from China.

The share price fell by more than 7% on Friday following this publication, bringing its decline over the past 12 months to 63%.

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