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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Poxel    POXEL   FR0012432516

POXEL

(POXEL)
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Poxel : Announces Results from June 24, 2020 Ordinary Annual and Extraordinary General Meeting

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06/25/2020 | 12:03pm EDT

  • Shareholders approved all proposed resolutions

 

POXEL SA (Euronext: POXEL - FR0012432516), a biopharmaceutical company focused on the development of innovative treatments for metabolic disorders, including type 2 diabetes and non-alcoholic steatohepatitis (NASH), today announced that it held its ordinary annual and extraordinary general meeting of shareholders on June 24, 2020. The meeting was held in a closed session and was chaired by Pierre Legault, Chairman of the Board of Directors, without the physical presence of the shareholders.

With a quorum of 46.7%, the shareholders approved all the resolutions that were recommended by the Board of Directors, including the financial statements for the 2019 financial year, the compensation policy applicable to the Chairman, the Chief Executive Officer and the Directors, as well as delegations related to financial transactions granted to the Board of Directors.

Shareholders also approved the renewal of Thomas Kuhn, Mohammed Khoso Baluch, Pascale Boissel and Kumi Sato as Board members.

Details on the voting results, as well as the presentation that was made during the meeting, will be available later today on the company’s website, in the Investors / Shareholder Info / Annual General Meeting Documents section: https://www.poxelpharma.com/en_us/investors/shareholder-information/annual-general-meeting-documents.

About Poxel SA

Poxel is a dynamic biopharmaceutical company that uses its extensive expertise in developing innovative drugs for metabolic diseases, with a focus on type 2 diabetes and non-alcoholic steatohepatitis (NASH). In its mid-to-late stage pipeline, the Company is currently advancing three drug candidates as well as earlier-stage opportunities. Imeglimin, Poxel’s first-in-class lead product, targets mitochondrial dysfunction. Together, with its partner Sumitomo Dainippon Pharma, Poxel successfully completed the Phase 3 Trials of IMeglimin for Efficacy and Safety (TIMES) program for the treatment of type 2 diabetes in Japan. Poxel also established a partnership with Roivant Sciences for Imeglimin’s development and commercialization in countries outside of the partnership with Sumitomo Dainippon Pharma, including the U.S. and Europe. PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, is in a Phase 2a proof-of-concept program for the treatment of NASH. PXL770 could also have the potential to treat additional metabolic diseases. PXL065 (deuterium-stabilized R-pioglitazone), a mitochondrial pyruvate carrier (MPC) inhibitor, is advancing into a Phase 2 clinical trial for the treatment of NASH. Poxel also has additional earlier-stage programs from its AMPK activator and TZD platforms targeting chronic and rare metabolic diseases. The Company intends to generate further growth through strategic partnerships and pipeline development. Listed on Euronext Paris, Poxel is headquartered in Lyon, France, and has subsidiaries in Boston, MA, and Tokyo, Japan. For more information, please visit: www.poxelpharma.com.

In the context of the COVID-19 outbreak, which was declared a pandemic by the World Health Organization (WHO) on March 12, 2020, the Company has undertaken a full review of the impact of the outbreak on its business. Considering the rapidly evolving situation, the Company is updating this assessment on a regular basis.

The Company anticipates that the COVID-19 pandemic could have a material negative impact on its business operations. The worldwide impact of COVID-19 may notably affect the Company’s internal organization and efficiency, particularly in countries where it operates and where confinement measures have been implemented by the authorities. In addition, the deteriorating market conditions may impact the Company’s ability to raise additional funding and/or to enter into partnerships. Particularly, delays in the supply of drug substance or drug products, in pre-clinical and/or clinical trials, as well as delays linked to the responsiveness of regulatory authorities could occur, which could potentially have an impact on the Company’s development programs. The Company will continue to proactively monitor the situation.

All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

© Business Wire 2020

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Financials
Sales 2020 14,7 M 17,1 M 17,1 M
Net income 2020 -28,0 M -32,6 M -32,6 M
Net cash 2020 21,6 M 25,2 M 25,2 M
P/E ratio 2020 -5,76x
Yield 2020 -
Capitalization 171 M 199 M 199 M
EV / Sales 2020 10,1x
EV / Sales 2021 2,47x
Nbr of Employees 51
Free-Float 75,3%
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Number of Analysts 4
Average target price 18,55 €
Last Close Price 6,00 €
Spread / Highest target 250%
Spread / Average Target 209%
Spread / Lowest Target 175%
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Managers
NameTitle
Thomas Kuhn Chief Executive Officer & Director
Pierre Legault Chairman
Sebastien Bolze Chief Operating Officer & Executive Vice President
Anne Renevot Chief Financial Officer & Executive Vice President
Sophie Hallakou-Bozec Senior Vice President-Research & Development
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