Lyon, France - 30 January 2025, 6pm CET - Theranexus, a biopharmaceutical company innovating in the treatment of rare neurological diseases, today announces publication of its cash position as at 31 December 2024, and presents its progress report.
On 31 December 2024, total available funds stood at €1.0 M, compared with €1.9 M on 30 September 2024. As stipulated in the press release of 17 December 2024[1], the company has since strengthened its cash position, which stood at €4.0 M as of 29 January 2025. Pursuant to the agreement signed with Exeltis on 16 December 2024[2], the company collected the upfront payment of €2 M as planned. As expected, Bpifrance also recently paid out €1.1 M, which included the balance of the NeuroLead grant and the first part of the PickASO project funding.
Theranexus Chairman and CEO, Mathieu Charvériat, commented: "We have achieved a key milestone with this initial industrial partnership with Insud Pharma/Exeltis aimed at marketing TX01 for the rare Niemann-Pick type C and Gaucher diseases. Thanks to this agreement, we have received the upfront payment of €2 M and funds to the amount of €1.1 M released by Bpifrance for the NeuroLead and PickASO projects. Our financial horizon now extends to the first quarter of 2026. Regarding our Batten-1 drug candidate, we are exploring all options, including an industrial agreement, to launch our pivotal trial in 2025. Meanwhile, we are continuing our research on a novel antisense oligonucleotide targeting TFEB, a key protein in autophagy for treating rare neurological lysosomal diseases in connection with the PickASO project led with Inserm and Diverchim."
Moreover, and as declared previously, Theranexus has won the support of its banking partners to restructure its debt, including capital repayment deferral until March 2026 and a 21-month extension of the maturity date on its loans.
Next financial publication:
2024 annual financial results and cash position at 31 March 2025: 29 April 2025
About Theranexus
Theranexus is an innovative biopharmaceutical company that emerged from the French Alternative Energies and Atomic Energy Commission (CEA). The company has a unique platform for the identification and characterization of advanced therapy drug candidates targeting rare neurological disorders and an initial drug candidate in clinical development for Batten disease.
Theranexus is listed on the Euronext Growth market in Paris (FR0013286259- ALTHX).
For more information :
http://www.theranexus.com
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Contacts:
THERANEXUS
Christine PLACET
Chief Financial Officer
contact@theranexus.com
FP2COM
Florence PORTEJOIE
Medias relations
+ 33 (0)6 07 76 82 83
fportejoie@fp2com.fr
Disclaimer
This press release and the information contained herein do not constitute an offer of sale, purchase or subscription or the solicitation of a sale, purchase or subscription order for Theranexus shares in any country.
This press release contains certain forward-looking statements concerning Theranexus and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Theranexus considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the universal registration document filed by the Company with the French regulator, Autorité des marchés financiers (AMF) on 30 April 2024 under number D.24-0382, which is available on the Company website (www.theranexus.com).
The reader's attention is particularly drawn to the fact that the Company's current financing horizon is limited to Q1 2026 (taking the aforementioned payments into account) and that, given its financing requirements and dilutive instruments in circulation, the Company's shareholders are likely to experience significant dilution of their stake in the Company in the short or medium term. The Company is also subject to other risks and uncertainties, including the development of economic conditions, the financial markets and the markets in which Theranexus operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Theranexus or not currently considered material by Theranexus.
The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Theranexus to be materially different from such forward-looking statements. Theranexus expressly declines any obligation to update such forward-looking statements.
[1] https://www.theranexus.com/images/pdf/Theranexus_PR_Update_Casflow_Position_VDEF.pdf
[2] https://www.theranexus.com/images/pdf/Theranexus_PR_Partnership_Exeltis_VDEF.pdf
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