Poxel Announces Extended Cash Runway with Debt Restructuring Agreement and Equity-linked Financing Facility
Cash runway extended through at least February 2023 based upon debt restructuring agreement with IPF Partners (IPF) and equity-linked financing facility for up to EUR 6 million with Iris Capital Investment (IRIS)
Extended cash runway provides added flexibility to capitalize on upcoming Phase 2 DESTINY-1 results for PXL065 in NASH expected this quarter and independently pursue non-dilutive financing initiatives to fund and execute the Company’s rare disease strategy
As of June 30, 2023, cash and cash equivalents were EUR 16.
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