AB Science: stable loss in 2021

(AOF) – AB Science has unveiled a globally stable net loss for its 2021 financial year. It stands at 14.463 million euros against a loss of 15.045 million in 2020. The operating loss reached 13.808 million, against a loss of 14.749 million as of December 31, 2020. Operating income, consisting exclusively of revenue related to the operation of a drug in veterinary medicine, was stable compared to December 31, 2020 and amounted to 1.607 million.

Cash stood at 8.7 million euros at December 31, to which is added the financing of 7.5 million euros concluded in February 2022 and 7.1 million euros in respect of the research tax credit for the years 2020 and 2021.

The group recalls having entered into an agreement last year with some of its historical shareholders for the implementation of a common strategy for the development of masitinib, including funding to secure developments of potentially 12 to 36 months, as well as the search for a license agreement with a partner.

Thanks to this agreement comprising a firm commitment of 25 million euros over 12 months, the company’s financial visibility is extended beyond 24 months, knowing that this financing commitment may be increased by an additional 50 million euros ( 25 million per year from the 1st anniversary date).

As part of this agreement, a commitment to retain certain minority shareholders relating to 1.8 million shares has been established for a period of 3 years (or until the implementation of the valuation strategy if it occurs before the expiry of this 3-year period).

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