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]