POXEL Announces Third Quarter 2016 Financial Results And Corporate Update

LYON, France--(BUSINESS WIRE)--POXEL SA (Euronext – POXEL - FR0012432516), a biopharmaceutical company focused on the development of innovative treatments for type 2 diabetes, today announced its cash position and financial results for the third quarter of 2016. As of September 30, 2016, cash and cash equivalents were EUR 51.1 million. This figure includes the net proceeds of a private placement completed in July 2016 that provided an additional EUR 24.1 million. With its current cash and cash equivalents, the Company has a cash runway to early 2019.