PHAXIAM Therapeutics (PHXM) Q3 2024 earnings summary

Executive summary

• Cash and cash equivalents reached €5.7 million as of September 30, 2024, following a €7.8 million capital increase in July 2024.

• Clinical strategy execution remains on track, with the GLORIA global Phase II study protocol approved by the U.S. FDA and patient recruitment planned for Q1 2025.

• PHAXIAM is developing phage therapies targeting resistant bacteria responsible for most hospital-acquired infections.

Financial highlights

• Cash position increased from €1.5 million on June 30, 2024, to €5.7 million on September 30, 2024.

• Net proceeds from the July 2024 capital increase amounted to €6.8 million after costs.

• Current cash runway is expected to fund operations until March 2025.

Outlook and guidance

• Patient recruitment for the GLORIA Phase II study is expected to begin in Q1 2025.

• First patient enrollment in the Phase II DFU study anticipated in Q4 2024.

• Preliminary results from the Phase I endocarditis study expected around mid-2025.

• Exploring cost reduction, non-dilutive funding, and strategic investments to extend cash runway.