LYON, France--(BUSINESS WIRE)--POXEL (Euronext – POXEL - FR0012432516), an independent French biopharmaceutical company focused on the development of innovative drugs to treat type 2 diabetes, announced today its cash position and its turnover for the first half of 2015.
As of June 30th, 2015, the cash and cash equivalents amounted to €29.5 million including the gross proceeds from the Company’s successful IPO in February 2015 raising €26.8 million. The cash and cash equivalents do not include the receipt, effective July 3rd, of the R&D tax credit amounting to €2 million.
As expected, Poxel did not generate revenues during the first half of 2015.
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