Pixium Vision announces that audited 2021 financial results are available

Announced by Pixium Vision Its availability result Finance 2021 Audited

Paris, 29 years old April 2022 – 7:00 pm CET – Pixium Vision SA (Euronext Growth Paris – FR0011950641) is a bioelectronics company that develops innovative bionic vision systems that enable visually impaired patients to live more independently. Announced that the audited financial results for the year have been obtained. It is available on our website. The 2021 financial results were approved by the Pixium Vision Board of Directors at a meeting on April 6, 2022. This includes minor audit differences from the unaudited financial results published February 22, 2022, as detailed below.

result Finance 2021 (Audited) – Extract

Income Statement Summary
Thousands of euros 2021 2020 ((((*). change
Operational products 2,655 2,092 + 26.9%
Current operating expenses (12,916) (10,526) + 22.7%
Research and Development (7,282) (6,152) + 18.4%
overhead (5,633) (4,374) + 28.8%
Business results (loss) (10,260) (8,435) +21,6 %
Net profit (loss) (10 930). (9,134) +19.7 %
Net income per share (0.23) (0.27)

((((*). Fiscal Year 2020 has been amended and restated for the effects of currencies in accordance with the application of International Accounting Standard IAS 19 (see IAS 19 Employee Benefits).

Summary of cash flow statement
Thousands of euros 2021 2020 ((((*).
Cash, cash equivalent at the time of opening 10,566 6,791
(Decrease) / Increase in cash 3,939 3,774
Cash flow from operating activities (8,829) (6,906)
Net cash flow from investment activities (52) 197
Of which, net cash flow from financial activities 12,818 10,482
Impact of exchange rate fluctuations on cash 2 – –
Cash, cash equivalent at the time of settlement 14,505 10,566

((((*). Fiscal Year 2020 has been amended and restated for the effects of currencies in accordance with the application of International Accounting Standard IAS 19 (see IAS 19 Employee Benefits).

Analysis of Fiscal Year 2021 Results

In 2021, we did not make a profit.

Operational products It reached 2.7 million euros, compared to 2.1 million euros in 2020. Operating income in 2021 will be primarily € 1.6 million in research tax credits (CIR) and Second Sight Medical Product, Inc. (SSMP). These compensations were paid after the unilateral termination of the memorandum of understanding signed between the two companies on January 5, 2021 by SSMP.

Current operating expenses It reached 12.9 million euros, compared to 10.5 million euros in 2020. Current operating expenses increased by 22.7% to € 2.4 million. Of this amount, 1.1 million euros were used for research and development, and 1.3 million euros were used for expenses.

  • R & D expenses This is equivalent to 7.3 million euros, compared to 6.2 million euros in the previous year. During the 2021 fiscal year, Pixium Vision strengthened its medical team and opened several clinical facilities in Europe as part of its important PRIMAvera research. In addition, we continued to develop and manufacture the Prima Bionic Vision System to ensure the progress of ongoing clinical research.
  • Overhead costs It reached 5.6 million euros, compared to 4.4 million euros in 2020. This increase is primarily related to the costs we incur for legal activities carried out in connection with the preparation of the combination with Second Sight Medical Product, Inc.

Business results In 2021, it will be 100.3 million euros, compared to -8.4 million euros in 2020.

Final result The (loss) is -10.9 million euros (compared to -9.1 million euros in 2020). In 2021, we recorded a financial result of € 700,000 (compared to € 700,000 in 2020). We do not record corporate tax expense for the 2021 fiscal year. Losses in fiscal year 2021 and fiscal year 2020 were € 0.23 and € 0.27 per share, respectively.

Cash flow from operating activities It increased to -8.8 million euros in 2021 compared to -6.9 million euros in 2020. Increased net cash consumption is the result of costs associated with launching the PRIMAvera study, ongoing US feasibility studies, and preparing for business combinations. Second Sight Medical Product, Inc.

Net cash flow from operating activities investment The price is 100,000 euros, which is mainly equivalent to computer equipment.

Net cash flow from financial activities This was primarily due to a total revenue increase of approximately € 8 million and the withdrawal of five ORNAN tranches totaling € 625 million under the Pixium Vision agreement with ESGO. Since the last tranche was created on May 12, 2021, 10 million funds have been raised, so there are no unpaid warrants.

Pixium Vision concludes the 2021 fiscal year with a net cash position of € 14.5 million, compared to € 10.5 million at the end of 2020.

Audit the difference Under IAS 32, certain warrants granted to investors in July 2021 (BSA 2021 US) must be measured at fair market prices, resulting in interest income of € 0.1 million in fiscal year 2021. rice field. As a result, the net loss is reduced compared to the unaudited financial results.

contact address

Pixium Vision

Providing Nonhoff
Chief Financial Officer [email protected]

Public relations

LifeSci Advisors
Sophie Baumont
[email protected]

+33 6 27 74 74 49

Public relations activities for investors
LifeSci Advisors
Guillaume van Rentelgem
[email protected]

+41 76 735 01 31

About PIXIUM VISION

Pixium Vision Create a world of bionic vision so that people who have lost sight can restore vision and gain autonomy. Pixium Vision’s bionic vision system is associated with the duration of surgery and rehabilitation. The Prima System Wireless Photovoltaic Subretinal Microimplant is in clinical trials in patients who initially lose vision due to retinal degeneration due to dry age-related macular degeneration (dry AMD). Pixium Vision works closely with academic partners and the world’s most prestigious vision research institutes, including Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, and the Institute of Ocular Microsurgery (IMO) in Barcelona. I am. , Bonn University Hospital and UPMC in Pittsburgh (Pennsylvania, USA). We are ENISO 13485 certified and have been certified as an “Innovative Company” by Bpifrance.

Forward-Looking Statements This press release contains forward-looking statements. We believe our forecasts are based on reasonable assumptions, but these forward-looking statements carry a lot of risk and uncertainty and actual results may differ materially from those forecasts. there is. For more information on risks and uncertainties in which our actual performance, financial position, performance or performance may differ from those contained in our forward-looking statements, please see our FY2021 Risk Factors section. please refer to. Annual financial reports and other documents that we submit to AMF. It is available on the AMF website (www.amf-france.org) or on our website.

For more information: http://www.pixium-vision.com/en

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