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French Poxel exectedly falls short on revenue in Q4 2016

French drugmaker focused on diabetes treatments Poxel, said it expectedly did not generate meaningful revenues in the fourth quarter of 2016, but it is on track for developing two of its programs. 

Poxel said it is progressing with the development of Imeglimin in Asia with its own resources,  as it expects to kick off the third phase trials in Japan during the fourth quarter 2017 after the phase 2 results arive. For Europe and the United States, it is looking for partner. It’s second program, the development of PXL770, Thomas Kuhn, CEO of Poxel, said: “we anticipate we could be in the position to continue the Phase 1 study during the second half of this year.”

Kuhn said the company plans to show the potential for cardiovascular benefits of Imeglimin. It will take additional clinical studies to confirm the Imeglimin’s possibilities for conducting a larger US and EU cardiovascular outcome program.

“As expected, Poxel did not generate significant revenues in the fourth quarter of 2016, corresponding to the Company’s forecasts and its growth strategy focused on the clinical development of its drug candidates for the treatment of diabetes, which include Imeglimin and PXL770,” the company’s concludes.

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