TOULOUSE, France, LAKELAND, Mich.--(BUSINESS WIRE)--Regulatory News:
ABIONYX Pharma, (FR0012616852 - ABNX - eligible for PEA PME), a new generation biotech company dedicated to the discovery and development of innovative therapies based on the world’s only natural recombinant apoA-I, today provides an update on its activity and cash position as of March 31, 2024.
Selected financial information (IFRS)
€m |
Q1 2024 |
Q1 2023 |
Revenue from biotech activity |
0.00 |
0.00 |
Revenue from IRIS Pharma |
1.40 |
1.09 |
Total revenue |
1.40 |
1.09 |
Other revenue |
0.00 |
0.00 |
Total revenue income and revenue |
1.40 |
1.09 |
Cash and cash equivalents at the end of the period |
2.70 |
2.90 |
ABIONYX Pharma recorded consolidated revenue of €1.4 million for the first quarter of 2024, representing an organic growth of +18% compared with Q1 2023. This growth is purely organic, as the Group did not order any studies from IRIS Pharma during the quarter. Regarding the biotech activities dedicated to the discovery and development of innovative therapies to improve the lives of patients, the Company did not generate any revenue in this financial year, ABIONYX Pharma continuing to provide its bioproduct free of charge as part of the Compassionate Access Authorization (CAA) requests.
As of March 31, 2024, the Company had cash and cash equivalents of nearly €2.7 million, before the estimated €1.4 million Research Tax Credit.
Following the arrival of Dr Rob Scott as CMO and Head of R&D in January, the Company is also focusing on the search for strategic partnerships.
At last, the Company continues to receive new Compassionate Access Authorisation (CAA) requests for bio-HDL (CER-001) from several hospitals around the world.
Next financial release:
- Cash position and activity update for Q2 2024, on August 22, 2024
About ABIONYX Pharma
ABIONYX Pharma is a next-generation biotech company focused on developing innovative medicines in diseases where there is no effective or existing treatment, even the rarest ones. The company expedites the development of novel therapeutics through an extensive expertise in lipid science and a differentiated apoA-I -based technology platform. ABIONYX Pharma is committed to radically improving treatment outcomes in sepsis and critical care.
