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Crossject
Annual / Quarterly Financial Statement • Apr 25, 2024
1237_iss_2024-04-25_ceedbfc2-29da-41aa-b625-e6215dffa78f.pdf
Annual / Quarterly Financial Statement
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Press Release
Crossject reports audited financial results for 2023
Dijon, France April 25, 2024 -- Crossject (ISIN: FR0011716265; Euronext: ALCJ), a specialty pharmaceuticals company developing products for emergency situations harnessing its proprietary needle-free auto-injectors technology platform ZENEO®, reports its audited financial results for the year ending December 31, 2023. These results are now available on the Company's website.
Key financial information as of December 31, 2023
Crossject's financial results for the year ending December 31, 2023 have now been fully audited with a minor change of -0.17 M€ compared to the previous report, released on March 29 and available here.
All reports relating to financials for the year 2023 will be available on the Crossject website from April 30 and are also presented in the appendices below.
The table below summarizes our income statement for the years ending 31 December 2023 and 2022:
| € thousands, as of 31 December | 2023 | 2022 |
|---|---|---|
| Operating income | 12 826 | 9 718 |
| Operating expenses | -24 626 | -23 005 |
| Purchase of raw material and supplies | -1 595 | -498 |
| Other purchases and external expenses | -8 869 | -8 116 |
| Personal expenses | -7 713 | -7 424 |
| Taxes and duties | -267 | -176 |
| Depreciation, amortisation and provision | -5 688 | -6 358 |
| Other expenses | -494 | -433 |
| Operating profit/loss | -11 800 | -13 288 |
| Financial income/expense | -497 | -319 |
| Exceptional income/expense | 791 | 228 |
| Corporate tax | 2 867 | 2 222 |
| Net profit/loss | -8 638 | -11 157 |
About Crossject
Crossject SA (Euronext: ALCJ; www.crossject.com) is an emerging specialty pharma company developing products for emergencies harnessing its proprietary needle-free auto-injector technology ZENEO. It is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, for which it has a \$60 million contract with the U.S. Biomedical Advanced Research and Development Authority (BARDA). ZEPIZURE® is based on the Company's award-winning needle-free autoinjector ZENEO®, designed to enable patients and untrained caregivers to easily and instantly deliver emergency medication via intramuscular injection on bare skin or even through clothing. The Company's other products in development include rescue therapies for allergic shocks, adrenal insufficiencies, opioid overdose and asthma attacks.
For further information, please contact:
| Investors |
|---|
| Natasha Drapeau |
| Cohesion Bureau |
| +41 76 823 75 27 |
| [email protected] |
Media
Sophie Baumont Cohesion Bureau +33 6 27 74 74 49 [email protected]
APPENDICES
| INCOME STATEMENT (in K€) |
31/12/2023 | 31/12/2022 | VARIATION |
|---|---|---|---|
| 145 | 954 | -809 |
|---|---|---|
| 591 | 348 | 243 |
| 3 594 | 6 104 | -2 510 |
| 133 | 5 | 128 |
| 2 632 | 445 | 2 187 |
| 6 231 | 1 861 | 4 370 |
| 13 326 | 9 717 | 3 609 |
| 1 625 | 1 002 | 623 |
| -29 | -505 | 476 |
| 8 869 | 8 115 | 754 |
| 267 | 177 | 90 |
| 7 714 | 7 425 | 289 |
| 4 504 | 5 263 | -759 |
| 1 682 | 1 095 | 587 |
| 494 | 433 | 61 |
| 25 126 | 23 005 | 2 121 |
| -11 800 | -13 288 | 1 488 |
| -497 | -319 | -178 |
| 791 | 228 | 563 |
| 2 867 | 2 222 | 645 |
| -8 638 | -11 157 | 2 519 |
| BALANCE SHEET - LIABILITIES (in k€) |
31/12/2023 | 31/12/2022 | VARIATION |
|---|---|---|---|
| ------------------------------------------- | ------------ | ------------ | ----------- |
CAPITAUX PROPRES
| Capital | 3 676 | 3 652 | 24 |
|---|---|---|---|
| Share premium | 785 | 18 312 | -17 527 |
| Retained earnings | -1 757 | -8 786 | 7 029 |
| Profit/loss for the year | -8 638 | -11 157 | 2 519 |
| Investment subsidies | 665 | 665 | 0 |
| TOTAL SHAREHOLDERS' EUITY | -5 269 | 2 686 | -7 955 |
| Conditional advances | 7 060 | 7 476 | -416 |
| Provision for contingencies and charges |
694 | 1 420 | -726 |
BORROWINGS AND DEBT
| Bonds | 18 | 355 | -337 |
|---|---|---|---|
| Loans | 16 171 | 11 048 | 5 123 |
| Miscellaneous | 2 732 | 2 722 | 10 |
| Debts - Trade payables |
4 323 | 3 523 | 800 |
| Total tax ans social security liabilities | 2 149 | 1 833 | 316 |
| Debts on fixed assets | 82 | 1 764 | -1 682 |
| Deffered income | 681 | 32 | 649 |
| TOTAL DEBT | 26 156 | 21 277 | 4 879 |
| TOTAL EQUITY AND LIABILITIES | 28 641 | 32 859 | -4 218 |
| BALANCE SHEET - ASSETS (in K€) |
31/12/2023 | 31/12/2022 | VARIATION |
|---|---|---|---|
| -------------------------------------- | ------------ | ------------ | ----------- |
FIXED ASSETS
| R&D | 10 730 | 10 691 | 39 |
|---|---|---|---|
| Patent and Trademarks | 0 | 0 | 0 |
| Other intangible assets | 0 | 0 | 0 |
| Land | 14 | 89 | -75 |
| Property, plant and equipment | 2 736 | 5 085 | -2 350 |
| Assets under construction | 2 942 | 2 492 | 450 |
| Financial assets | 1 544 | 672 | 872 |
| TOTAL FIXED ASSETS | 17 966 | 19 029 | -1 064 |
CURRENT ASSETS
| TOTAL ASSETS | 28 641 | 32 859 | -4 219 |
|---|---|---|---|
| TOTAL CURRENT ASSETS | 10 675 | 13 830 | -3 155 |
| Prepaid / deferred expenses | 459 | 536 | -76,6 |
| Available cash | 2 304 | 7 769 | -5465 |
| Marketable securities | 0 | 0 | 0 |
| State and other reveivables | 2 512 | 2 450 | 62 |
| Trade and related receivables | 2 079 | 726 | 1353 |
| Advances ans prepayments received on order in progress |
187 | 345 | -158 |
| Work in process | 1 485 | 588 | 897 |
| Raw materials, other supplies | 1 649 | 1 416 | 232,6 |
| BALANCE SHEET - LIABILITIES (in k€) |
31/12/2023 | 31/12/2022 | VARIATION |
|---|---|---|---|
| ------------------------------------------- | ------------ | ------------ | ----------- |
CAPITAUX PROPRES
| Capital | 3 676 | 3 652 | 24 |
|---|---|---|---|
| Share premium | 785 | 18 312 | -17 527 |
| Regulated reserve | 0 | 0 | 0 |
| Retained earnings | -1 757 | -8 786 | 7 029 |
| Profit/loss for the year | -8 638 | -11 157 | 2 519 |
| Investment subsidies | 665 | 665 | 0 |
| TOTAL SHAREHOLDERS' EUITY | -5 269 | 2 686 | -7 955 |
| Conditional advances | 7 060 | 7 476 | -416 |
| Provision for contingencies and charges |
694 | 1 420 | -726 |
BORROWINGS AND DEBT
| Bonds | 18 | 355 | -337 |
|---|---|---|---|
| Loans | 16 171 | 11 048 | 5 123 |
| Miscellaneous | 2 732 | 2 722 | 10 |
| Debts - Trade payables |
4 323 | 3 523 | 800 |
| Total tax ans social security liabilities | 2 149 | 1 833 | 316 |
| Debts on fixed assets | 82 | 1 764 | -1 682 |
| Deffered income | 681 | 32 | 649 |
| TOTAL DEBT | 26 156 | 21 277 | 4 879 |
| TOTAL EQUITY AND LIABILITIES | 28 641 | 32 859 | -4 218 |
| CASH FLOW STATEMENT (IN K€) | 31/12/2023 | 31/12/2022 | ||
|---|---|---|---|---|
| -- | ----------------------------- | -- | ------------ | ------------ |
| Net profit / loss |
- | 8 638 | - | 11 157 |
|---|---|---|---|---|
| Depreciation, amortisation and provision | 3 091 | 5 705 | ||
| Capital gains on disposal, net of tax | 54 | 1 | ||
| Other income and expenses calculated | - | 28 | - | 28 |
| Cashflow from operations | 5 521 | - | 5 479 | |
| Change in working capital requirements | - | 680 | 399 | |
| (1) Net cash generated by / (used in) operating activities |
- | 6 201 | - | 5 080 |
| Acquisition of fixed assets | - | 6 403 | - | 6 778 |
| Cession d'immobilisation | 3 767 | 0 | ||
| (2) Net cash generated by / (used in) investing activities |
- | 2 636 | - | 6 778 |
| Capital increase | 13 | 4 089 | ||
| Exercice of warrants | 333 | 3 003 | ||
| Loans | 8 090 | 4 000 | ||
| Repayment of borrowings | - | 3 396 | - | 969 |
| Debts on fixed assets | - | 1 682 | - | 483 |
| (3) Net cash generated by / (used in) financing activities |
3 358 | 9 640 | ||
| Change in cash and cash equivalents (1)+(2)+(3) - | 5 479 | - | 2 218 | |
| Opening Cash position | 7 770 | 9 983 | ||
| Closing Cash position |
2 291 | 7 770 |