Valbonne, France, April 25, 2018, 5.45pm CEST
TxCell SA (FR0010127662 – TXCL), a developer of cellular immunotherapies based on regulatory T cells (Tregs) for inflammation, autoimmunity and transplantation, today reports its cash position and its revenue for the first quarter of 2018. In addition, TxCell announces the availability of its 2017 registration document (document de référence) submitted to the French Autorité des Marchés Financiers (AMF) on April 25, 2018.
Cash position and revenues as at March 31, 2018
As at March 31st, 2018, the cash and cash equivalents amounted to €3.6 million , after pre-financing of the 2017 Research Tax Credit for €1.9 million and drawing of the first two monthly tranches of the amended financing program of notes convertible into shares with share subscription warrants (OCABSA) for a nominal amount of €3 million.
As a reminder, this OCABSA program consists of monthly installments for a nominal amount of €1.2 million each at TxCell’s sole discretion, for a total financing of up to €15 million. It should enable the Company to finance its activities until early 2019, including the filing of a clinical trial application (“CTA”) for the start of TxCell’s first-in-man study with a CAR Treg, expected to occur in Q4 2018.
TxCell is actively working towards securing a longer-term financing solution, such as a strategic partnership and/or an equity offering, depending on market conditions. The Company may interrupt these monthly OCABSA issuances at any time.
As expected, TxCell did not generate revenues during the first quarter 2018.
Availability of the 2017 document de référence
TxCell’s 2017 document de référence is available on the AMF’s website (www.amf-france.org), as well as on the Company’s website (www.txcell.fr) in the Investors > Documentation > Annual Reports section.
The 2017 document de référence notably includes the following information:
- the 2017 annual financial report;
- the report on corporate governance;
- the statutory auditors' report and the amount of their fees; and
- the description of the share repurchase program.
Investors are invited to read the “Risk factors” section which has been updated in Chapter 4 of the 2017 document de référence.
In addition, the preparatory documents for the Shareholders' Meeting of April 26, 2018, referred to by Article R.225-83 of the French Commercial Code, have been posted on the Company's website and made available to shareholders free of charge under the conditions and within the deadlines provided for by the applicable regulatory provisions.