Medincell announced on Monday that the anticipated ramp-up in royalties and revenues from its partnership with Teva should generate net profits to fuel its sustainable growth.

On the occasion of the publication of its 2023 annual results, the biopharmaceutical company said it had entered "a new era", demonstrating its ability to develop technologies enabling the creation of innovative treatments.

The company describes 2023 as a "pivotal" year, marked by the approval in the USA of Uzedy, its schizophrenia treatment developed with Teva, and the success of its commercial launch.

Olanzapine, its second antipsychotic developed with Teva, has also entered phase 3 clinical trials.

At the end of 2023, Medincell estimated that it had cash of 19.5 million euros, an amount which does not take into account the receipt of 32.5 million euros linked to its collaboration agreement with AbbVie.

In addition, the company claims to have limited its operating cash burn to 11.9 million euros last year, down 43% on the previous year.

The share price, up 100% since the start of the year, dropped more than 4% on Monday morning in the wake of this publication.

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