LYON, France--(BUSINESS WIRE)-- POXEL SA (Euronext – POXEL - FR0012432516), a biopharmaceutical company focused on the development of novel products to treat type 2 diabetes, today announced its cash position for the first quarter 2016.
As of March 31, 2016, unaudited cash and cash equivalents were €37.3 million, as compared to €32.8 million as of March 31, 2015.
As expected, Poxel did not generate significant revenues in either the first quarter of 2016 or 2015.
These figures are consistent with the Company’s expectations and its growth strategy, which remains focused on the clinical development of its diabetes drug candidates Imeglimin and PXL770.
Next financial press release: first half 2016 cash position expected on July 15, 2016
Poxel uses its development expertise in metabolism to advance a pipeline of drug candidates focused on the treatment of type 2 diabetes. We have successfully completed our Phase 2 trials for our first-in-class lead product, Imeglimin, which targets mitochondrial dysfunction, in the U.S. and EU and have entered Phase 2b clinical development in Japanese patients. We are advancing our second program, PXL770, a direct AMPK activator. We intend to generate further growth through strategic partnerships and pipeline development. (Euronext: POXEL, www.poxel.com)
Jonae R. Barnes, +1 617-818-2985
Senior Vice President, Investor Relations and Public Relations
Investor relations / Media - EU/US
MacDougall Biomedical Communications
Gretchen Schweitzer, + 49 89 2424 3494
Stephanie May, + 49 175 571 1562
Investor relations / Media - France
Florent Alba/Nicolas Mérigeau, + 33 1 44 71 98 55
Source: Poxel SA
Released May 5, 2016