January 24, 2018 / 5:00 PM / 25 days ago

BRIEF-Txcell Cash And Cash Equivalents up at 4.9 Millions Euros at End December‍​

Jan 24 (Reuters) - TXCELL SA:

* AS OF DEC 31, CO‘S CASH AND CASH EQUIVALENTS AMOUNTED TO €4.9 MILLION (VERSUS €3.5 MILLION AS OF DEC 31, 2016)‍​

* DID NOT GENERATE REVENUES DURING THE FOURTH QUARTER OF 2017

* OPERATING CASH BURN AMOUNTED TO APPROXIMATELY €9 MILLION FOR THE YEAR 2017‍​

* CONSIDERS THAT ITS RESOURCES ARE SUFFICIENT TO FINANCE ITS ACTIVITIES UNTIL EARLY 2019,‍​

* EUR 9 MILLION CASH BURN LOWER THAN €13 MILLION GUIDANCE PREVIOUSLY PROVIDED BY COMPANY

* SEES MAJOR MILESTONE, REGULATORY FILING FOR THE START OF ITS FIRST-IN-MAN STUDY WITH A CAR-TREG, EXPECTED IN Q4 2018‍​‍​

* TXCELL EXPECTS TO RECEIVE €1.2 MILLION FUNDING FROM BPIFRANCE DURING THE FIRST QUARTER OF 2018‍​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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