Theranexus announces its financial results for the first half of 2024

The biopharmaceutical company Theranexus, specializing in rare neurological diseases, has published its half-year results as of June 30, 2024.

Thanks to a rigorous cost-cutting policy, operating expenses have fallen sharply, particularly due to the end of the Batten-1 phase 1/2 clinical trial. Research and development costs have also decreased. The result is a profit of €101k, compared to a loss of €3,646k in the first half of 2023.

Other purchases and external charges decreased by 47%, while salaries and social security contributions decreased by 29%. The 2.2 million euro subsidy and the Research Tax Credit also contributed to this result.

Cash available as of June 30, 2024 amounts to €1,754,000. Theranexus estimates that it will be able to cover its financing needs at least until the first quarter of 2025.