Adocia Announces Third Quarter 2020 Financial Results

LYON, France–(BUSINESS WIRE)–Regulatory Information:

Adocia (Paris:ADOC)(Euronext Paris: FR0011184241 – ADOC), a scientific stage biopharmaceutical firm centered on diabetes remedy and different metabolic illnesses with progressive formulations of proteins and peptides, introduced right this moment its third quarter income and internet money place as of September 30, 2020.

Income element for the third quarter of 2020

– As of final yr, income was primarily as a result of licensing agreements signed with Tonghua Dongbao (THDB) on the finish of April 2018, to develop, manufacture, and commercialize BioChaperone® Lispro and BioChaperone® Combo in China and different territories in Asia and the Center East.

– Within the first 9 months of 2020, income has been acknowledged upon provision of analysis and growth companies carried out by Adocia and associated to the switch and growth of the merchandise.

Web money place

– In August 2020, the Firm was granted a State-guaranteed mortgage (PGE) for EUR 7 million and had a money place of EUR 35.5 million as of September 30, 2020, in comparison with EUR 43.7 million as of January 1, 2020.

– Money consumption for the primary 9 months of 2020 was EUR eight.2 million. Restated for the State-guaranteed mortgage, the money consumption was EUR 15.2 million in comparison with EUR 16.2 million for a similar interval final yr, on a comparable foundation. The EUR 1 million lower was primarily because of fewer bills within the present international pandemic context.

– As of September 30, 2020, monetary debt amounted to EUR 28 million in comparison with EUR 21.2 million as of December 31, 2019. Debt was primarily comprised of a financing line consisting in a bond concern for a complete quantity of EUR 15 million by IPF Companions in 2019, a State-guaranteed mortgage for EUR 7 million obtained in August 2020, and at last a mortgage secured in 2016 to finance the acquisition and renovation of the constructing through which the headquarters and the analysis middle of the Firm are situated.

– As beforehand introduced, in August 2020, the Firm was granted, by IPF Companions, a rescheduling of the mortgage fee contracted in 2019 for a complete quantity of EUR 15 million. The Firm benefited from the postponement of its fee deadlines of the capital till December 2021, which represented a money outflow postponement of 12 months as much as EUR 2 million. The maturity dates of the 2 tranches don’t change.

Upcoming occasions

October 20, 2020: Massive & Midcap Occasion – Digital

October 26-28, 2020: Bio Europe – Digital

November 26, 2020: Biotech Agora – Digital

About Adocia

Adocia is a clinical-stage biotechnology firm that makes a speciality of the event of progressive formulations of therapeutic proteins and peptides for the remedy of diabetes and metabolic illnesses. Within the diabetes discipline, Adocia’s portfolio of injectable therapies is among the many largest and most differentiated of the trade, that includes 5 clinical-stage merchandise and three merchandise in preclinical-stage. Adocia goals to increase its portfolio in the direction of the remedy of different metabolic illnesses and their comorbidities. The proprietary BioChaperone^® technological platform is designed to boost the effectiveness and/or security of therapeutic proteins whereas making them simpler for sufferers to make use of. Adocia customizes BioChaperone to every protein for a given utility.

Adocia’s scientific pipeline consists of 4 novel insulin formulations for prandial remedy of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone^® Lispro U100 and U200), a mix of basal insulin glargine and rapid-acting insulin lispro (BioChaperone^® Combo) and one mixture of a prandial insulin with amylin analog pramlintide M1Pram. The scientific pipeline additionally consists of an aqueous formulation of human glucagon (BioChaperone^® Glucagon) for the remedy of hypoglycemia.

Adocia preclinical pipeline consists of three bi-hormonal merchandise: two combos of fast human insulin analogues and Pramlintide (BioChaperone LisPram and BioChaperone AsPram) and a mix of insulin glargine with Liraglutide (BioChaperone^® GlaLira) for the remedy of diabetes.

Disclaimer

This press launch accommodates sure forward-looking statements regarding Adocia and its enterprise. Such forward-looking statements are primarily based on assumptions that Adocia considers to be cheap. Nonetheless, there might be no assurance that the estimates contained in such forward-looking statements will likely be verified, which estimates are topic to quite a few dangers together with the dangers set forth within the “Danger Components” part of the Reference Doc filed with the French Autorité des marchés financiers on April 22, 2020 (a duplicate of which is obtainable at www.adocia.com) and to the event of financial circumstances monetary markets and the markets through which Adocia operates. The forward-looking statements contained on this press launch are additionally topic to dangers not but recognized to Adocia or not presently thought-about materials by Adocia. The incidence of all or a part of such dangers may trigger precise outcomes, monetary circumstances, efficiency, or achievements of Adocia to be materially totally different from such forward-looking statements. This press launch and the data contained herein don’t represent a suggestion to promote or the solicitation of a suggestion to purchase Adocia shares in any jurisdiction.