Pixium Vision Reports Cash Position as of March 31, 2019
Paris, France. April 19, 2019 – 7.00 AM CET - Pixium Vision (FR0011950641 - PIX), a bioelectronics company developing innovative bionic vision systems to enable patients who have lost their sight to lead more independent lives, announces its cash position is €12.9 million as of March 31st, 2019.
| Q1 revenues (*) | ||
| In K euros | 31/03/2019 | 31/03/2018 |
| Net Sales | 0 | 0 |
| Other revenues (**) | 578.1 | 541.7 |
| Total revenues | 578.1 | 541.7 |
(*): unaudited ; (**) of which Research Tax Credit
| Q1 Cash and Cash Equivalent | ||
| In K euros | 31/03/2019 | 31/03/2018 |
| Cash and Cash equivalent at January 1st | 15,629.4 | 10,531.6 |
| (Decrease) / Increase in Cash position | (2,725.0) | (687.8) |
| Of which cash from operating activities | (3,003.9) | (3,060.3) |
| Of which cash from investing activities | (5.7) | (34.5) |
| Of which cash from financing activities | 284.6 | 2,407.0 |
| Cash and Cash equivalent at March 31st | 12,904.4 | 9,843.8 |
During the first quarter of 2019, total revenues amounted to €0.6 million mainly from Research Tax Credit (CIR) booking. The CIR in Q1 2019 is relatively stable as compared with Q1 2018, highlighting the continuous focus on clinical and technology development of its breakthrough PRIMA bionic vision system. The Company also booked a research grant from the European “Graphene” research project during Q1 2019.
Use of cash flow from operating activities at March 31, 2019 stood at €3.0 million relatively flat as compared with the first 3-month of 2018. Pixium Vision continues to strictly manage its financial resources and focusing its operating expenses on the clinical development of PRIMA, its wireless implantable microchip, as well as the associated hardware and software upgrade.
As of March 31, 2019, net cash flow from financing activities reached €0.3 million. Pixium Vision received net proceeds of €0.9 million from its Equity Line. The cash-in was partially offset by a €0.5 million repayment of the venture loan that was signed in September 2016 with Kreos Capital.
During the first 3 months of 2019, investments were not material.
As at March 31, 2019, the cash and cash equivalent for Pixium Vision amounted to €12.9 million compared to €15.6 million on December 31, 2018.
Next Event: 2019 Half-year Results on July 24th, 2019
Contacts
| Pixium Vision Didier Laurens, CFO 68 | Media Relations Newcap Media Annie-Florence Loyer - 12 / 59 Léa Jacquin - 94 | US Investor Relations ICR David Clair 6 |
ABOUT PIXIUM VISION
Pixium Vision’s mission is to create a world of bionic vision for those who have lost their sight, enabling them to regain partial visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Pixium Vision is in clinical stage with PRIMA, its sub-retinal miniature photovoltaic wireless implant system, designed for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners spanning across the prestigious Vision research institutions including Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.
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| Pixium Vision is listed on Euronext Paris (Compartment C). Pixium Vision shares are eligible for the French tax incentivized PEA-PME and FCPI investment vehicles. Pixium Vision is included in the Euronext CAC All Shares index Euronext ticker: PIX - ISIN: FR0011950641 – Reuters: PIX.PA – Bloomberg: PIX:FP |
Disclaimer:
This press release may expressly or implicitly contain forward-looking statements relating to Pixium Vision and its activity. Such statements are related to known or unknown risks, uncertainties and other factors that could lead actual results, financial conditions, performance or achievements to differ materially from Vision Pixium results, financial conditions, performance or achievements expressed or implied by such forward looking statements.
Pixium Vision provides this press release as of the aforementioned date and does not commit to update forward looking statements contained herein, whether as a result of new information, future events or otherwise.
For a description of risks and uncertainties which could lead to discrepancies between actual results, financial condition, performance or achievements and those contained in the forward-looking statements, please refer to Chapter 4 "Risk Factors" of the company’s Registration Document filed with the AMF under number R16-033 on April 28, 2016 which can be found on the websites of the AMF - AMF () and of Pixium Vision ().
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