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
natasha.drapeau@cohesionbureau.com
*Media*
Sophie Baumont
Cohesion Bureau
+33 6 27 74 74 49
sophie.baumont@cohesionbureau.com
*APPENDICES*
*INCOME STATEMENT (in K€)* *31/12/2023* *31/12/2022* *VARIATION*
Revenue 145 954 -809
Stored production 591 348 243
Capitalised production 3 594 6 104 -2 510
Subsidies 133 5 128
Reversals of provisions and transfers of expenses 2 632 445 2 187
Other income 6 231 1 861 4 370
*Operating income* *13 326* *9 717* *3 609*
Purchases of raw materials and other supplies 1 625 1 002 623
Change in inventory (raw materials and other supplies) -29 -505 476
Other purchases and external expenses 8 869 8 115 754
Taxes and duties 267 177 90
Personnel expenses 7 714 7 425 289
Depreciation, amortisation 4 504 5 263 -759
Other provisions 1 682 1 095 587
Other expenses 494 433 61
Operating expenses 25 126 23 005 2 121
*Operating profit/loss* *-11 800* *-13 288* *1 488*
*Financial income/expense* *-497* *-319* *-178*
*Exceptional income/expense* *791* *228* *563*
Research Tax Credit 2 867 2 222 645
*Net profit/loss* *-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
*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
Other intangible assets
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*
Raw materials, other supplies 1 649 1 416 232,6
Work in process 1 485 588 897
Advances ans prepayments received on order in progress 187 345 -158
Trade and related receivables 2 079 726 1353
State and other reveivables 2 512 2 450 62
Marketable securities
Available cash 2 304 7 769 -5465
Prepaid / deferred expenses 459 536 -76,6
*TOTAL CURRENT ASSETS* *10 675* *13 830* *-3 155*
*TOTAL ASSETS* *28 641* *32 859* *-4 219*
*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
Retained earnings -1 757 -8 786 7 029
Profit/loss for the year -8 638 -11 157 2 519
Investment subsidies 665 665
*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*
*Attachment*
· Press release FY 2023 Full Financials 24042024 EN