Core Viewpoint - Poxel SA has confirmed the drawdown of €3.75 million under the Additional Tranche D PDR bond issue as part of its continuation plan approved by the Lyon Commercial Court on January 22, 2026 [1] Financing Details - Poxel has previously issued €0.5 million of Tranche D PDR bonds on February 16, 2026, and plans to issue an additional €0.5 million on March 26, 2026 [2] - The Tranche D PDR is a result of a contractual amendment to the IPF bond financing initiated in September 2024, aimed at securing the company's operations [3] - The financing aims to cover the company's operational costs and liabilities during the continuation plan, alongside other financing operations and cost reductions [5] Key Terms of Tranche D PDR - The cash interest rate for Tranche D PDR is set at 0%, with a capitalized interest rate of 35% and a commitment fee of 10% [7] - An exit fee of 13.7% is applicable, calculated based on the total amount of bonds issued [7] - The allocation rate of Twymeeg royalties for the repayment of the IPF bond financing is set at 90% [7] - The issuance of share subscription warrants is planned for Poxel's next general meeting [4] Company Overview - Poxel SA is a clinical-stage biopharmaceutical company focused on developing innovative treatments for chronic diseases with metabolic pathophysiology, including MASH and rare metabolic disorders [5] - The company’s product PXL065 has met its primary endpoint in a Phase 2 trial for MASH, while PXL770 is being developed for rare diseases [5] - Poxel's first-in-class product, TWYMEEG® (Imeglimin), is marketed in Japan for type 2 diabetes, with expected royalties and sales-based payments [5]

Core Viewpoint - Poxel reported a consolidated revenue of €5 million for the fiscal year ended December 31, 2025, reflecting a decrease from €6.6 million in 2024, primarily due to the absence of a milestone payment received in the previous year [1] Financial Performance - Cash and cash equivalents as of December 31, 2025, amounted to €0.9 million, an increase from €0.6 million as of September 30, 2025 [1] - Gross sales of TWYMEEG® in Japan increased by 15% in Q4 2025 compared to Q3 2025, and by 40% compared to Q4 2024 [1] - Poxel received ¥873 million in royalties from Sumitomo Pharma, with a retroactive adjustment leading to an additional ¥88 million for the second and third quarters of 2025 [1] Revenue Breakdown - The royalty rate for TWYMEEG® was 10% in Q1 and Q4 2025, and 8% in Q2 and Q3 2025, with total royalties for the year amounting to €4.5 million [1] - The breakdown of quarterly revenues for 2025 was as follows: Q1 - €1.06 million, Q2 - €1.26 million, Q3 - €1.29 million, Q4 - €1.40 million [1] Strategic Developments - Poxel's continuation plan was approved by the Lyon Commercial Court on January 22, 2026, concluding the judicial reorganization proceedings and allowing the company to implement its recovery plan [1] - The company anticipates double-digit royalty growth on TWYMEEG® sales in 2026 [1]

Core Viewpoint - POXEL SA has successfully exited judicial reorganisation proceedings, with the recovery plan ratified by the Commercial Court of Lyon, allowing the company to focus on its commercial development and settle its liabilities [1][2][3]. Recovery Plan Key Elements - The recovery plan includes business development, cost structure optimisation, and settlement of outstanding liabilities [4]. - The company aims to establish new partnerships for the commercialisation of Imeglimin in Asia, particularly in China, and promote PXL770 for ADPKD while leveraging the value of PXL065 in HCM [6]. Financial Structure Strengthening - Measures include a €5 million equity line over five years from IRIS, new bond borrowings of €3.75 million from IPF, and a capital increase with maintenance of shareholders' preferred subscription rights [5][6]. - The company plans to convert part of the IPF debt into shares and settle other creditors according to an agreed repayment schedule [6]. Company Overview - POXEL is a clinical stage biopharmaceutical company focused on innovative treatments for chronic serious diseases with metabolic pathophysiology, including MASH and rare disorders [8]. - The company’s product pipeline includes PXL065, PXL770, and Imeglimin, with Imeglimin already marketed in Japan through a partnership with Sumitomo Pharma [8].