15.2ME cash position as of December 31st

(Boursier.com) — Company Performance Adoshia The net loss in 2021 was 22.8 million euros in 2021 and 23.3 million euros in 2020, which mainly consists of:
The two license agreements, mainly with Tonghua Dongbao, will generate 1.4 million euros in 2021 (800,000 euros in 2020). In 2021, additional services of up to € 1 million were offered in response to partner requests for activities related to the preparation of three clinical trials conducted at BC Combo in Europe.
Other operating income of € 4.6 million consists primarily of research tax credits incurred from fiscal year 2021 expenses.
Operating expenses were 25.4 million euros, a decrease of about 2.5 million euros compared to last year.
Negative financial results of € 3.4 million reflecting monetary interest paid on a € 15 million loan signed with an IPF partner in 2019. The increase of 1.1 million euros in 2021 is mainly explained by the impact of IFRS (non-cash) of revaluation at fair value as a result of convertible bonds contracted in October 2021.

The cash position as of December 31, 2021 is € 15.2 million (compared to € 28.1 million as of December 31, 2020).
Cash consumption in 2021 was 19.9 million euros by similar standards (excluding financial transactions) compared to 2020 (22.5 million euros).
Net financial debt (excluding the impact of derivative products) at the end of December 2021 was € 33.3 million, compared with € 27.3 million 12 months ago. The € 6 million increase was primarily due to the convertible bond lending transaction in October 2021 resulting in a net inflow of € 6 million. Some of the bonds were converted at the end of December and the rest were recorded as debt in accordance with IFRS 9 and IAS 32.

In addition, the company completed the sale of its headquarters net of € 19 million in March 2022. Considering this and cash consumption in the first quarter of 2022, our cash as of March 28, 2022, when the sale was signed, was € 28 million.

“We are pleased that the sale of the building has been completed. This has allowed us to significantly strengthen our cash position without diluting our shareholders or having an operational impact. With our cash position at the end of March, we were able to significantly strengthen our cash position. We have sufficient financial resources to carry out the roadmap, ”explained Valerie Danagezian, Chief Financial Officer of Adsia.

Outlook 2022

-By registering the first BCLispro Phase 3 patient in China, Adocia will be eligible for milestone payments under a contract with Tonghua Dongbao (a contract that provides up to $ 35 million from development to product registration). Marketing of BC Lispro in China and other Asian regions (excluding Japan) incurs royalty payments for sales.
Phase 2 clinical data for M1Pram, a fast-acting insulin for automatic injection pens for patients with type 1 diabetes, will be published in the second quarter of 2022.
-Phase 1 clinical results of BCLisPram for automated pump delivery are expected in the third quarter of 2022.
-Preclinical results of multihormonal obesity treatment (PramExe and BC GluExe), hydrogel matrix for cell therapy, and oral delivery technology are expected to enable the first studies in humans from 2022 to 2023. ..