Poxel Reports Cash and Revenue for the Full Year 2022 and Provides Corporate Update
Poxel SA, a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today announced its cash position and revenue and provided a corporate update for the twelve months ended December 31, 2022.
Thomas Kuhn, Chief Executive Officer of Poxel, stated: “We are very pleased with the most recent figures of TWYMEEG sales in Japan. These strong sales results support the trend we have observed since the end of the first year of commercialization restrictions, and above all, we believe that TWYMEEG’s benefit to type 2 diabetes patients is recognized more and more among prescribing doctors. We expect this royalty stream from TWYMEEG sales to continue to grow and generate significant revenue for Poxel and we have reached a preliminary agreement with IPF to align the debt repayments with future net positive TWYMEEG royalty flows. We are actively working to finalize our debt restructuring in the coming weeks. We are concurrently working to secure additional financing to launch our POC studies for PXL770 and PXL065 in ALD to start the next chapter of Poxel’s strategic focus in rare metabolic diseases.”