Acticor Biotech Reports 2023 Financial Results

Paris, France, July 9, 2024 – ACTICOR BIOTECH, a clinical-stage biopharmaceutical company, has released its annual financial results for the year ending on December 31, 2023. These results were approved by the Board of Directors on July 9, 2024.

The company's research and development costs increased to €11.878 million in 2023, up from €10.454 million in 2022. Operating and administrative expenses also rose, reaching €4.170 million compared to €3.622 million the previous year. Consequently, the operating loss for 2023 was €17.565 million, up from €15.121 million in 2022. The net loss totaled €18.640 million, compared to €12.608 million in 2022.

At the end of 2023, Acticor Biotech reported cash and cash equivalents of €3.9 million, down from €6.6 million the previous year. On March 15, 2024, the company raised an additional €8 million in capital, which is expected to finance operations until September 2024. The company continues to explore various financing options for future development.

An Annual General Meeting to approve the financial statements will be held on September 13, 2024. In June 2024, Acticor Biotech provided an update on the clinical development plan for glenzocimab in treating cardiovascular emergencies.