Advicenne has reduced its losses in 2022 thanks to higher sales and lower operating expenses, which had little impact on the share price on the Paris Bourse.

The pharmaceutical company posted operating losses of 10.1 million euros last year, compared with 12.4 million euros in 2021.

The nephrology specialist explains this improvement of almost 20% by a significant reduction in operating expenses, which fell from 16.2 to 13.1 million euros year-on-year.

Overall, net income showed a loss of 11.5 million euros, compared with -12.4 million euros in 2021.

In its press release, Advicenne states that it closed the 2022 financial year with net cash of 8.3 million euros, an amount it considers sufficient to ensure its financing horizon until the first quarter of 2024.

With regard to its outlook, Advicenne explains that this year it plans to accelerate sales growth of its main product, Sibnayal, in Europe, both directly and through signed partnerships.

The company also intends to conclude new commercial agreements for this treatment of distal renal tubular acidosis (dRTA) in other geographical areas.

After climbing more than 6% in the morning following this publication, Advicenne shares erased most of their gains and were only up 1.4% by mid-afternoon Friday on the Paris Bourse.

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