February 12, 2020 / 5:15 PM / 6 days ago

BRIEF-Poxel FY Revenue Down At 26.6 million Euros

Feb 12 (Reuters) - POXEL SA:

* POXEL REPORTS FINANCIAL UPDATE FOR CASH AND REVENUE FOR THE FULL YEAR 2019 AND PROVIDES CORPORATE UPDATE

* AS OF DECEMBER 31, 2019, TOTAL CASH AND CASH EQUIVALENTS WERE EUR 37.2 MILLION

* FY REVENUE EUR 26.6 MILLION VERSUS EUR 62.4 MILLION (ADJUSTED) YEAR AGO

* ABILITY TO DRAW DOWN EUR 10 MILLION BEFORE MARCH 31, 2020 BASED ON SUCCESSFUL COMPLETION OF IMEGLIMIN PHASE 3 TIMES PROGRAM, WHICH WAS MILESTONE ACHIEVED IN DEC 2019

* ABILITY TO DRAW DOWN ADDITIONAL EUR 13.5 MILLION IN 2021 BASED ON MARKETING AUTHORIZATION OF IMEGLIMIN IN JAPAN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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