Theranexus Reports 2023 Full-Year Results and Details Recent Progress

Theranexus, a biopharmaceutical company based in Lyon, France, released its full-year results for 2023, revealing a net operating loss of €7,644K, broadening from €6,257K in 2022. The firm focuses on rare neurological conditions and highlighted substantial advancements in its drug development pipeline.

The company has completed Phase I/II trials of their Batten-1 drug candidate, aimed at treating Batten disease, and received favorable feedback on its Phase III trial design from both the FDA and EMA. Additionally, Theranexus reported it is investigating funding avenues to advance this key project.

Financials indicate a stable net financial income over the year and a continued solid cash position, with funds sufficient to cover operations into the second quarter of 2025. Theranexus also welcomed a new CFO, Christine Placet, expected to strengthen the financial strategy moving forward.

Aside from its key developments on Batten-1, Theranexus is sponsoring the PickASO project to develop an innovative drug targeting the TFEB protein, essential in regulating autophagy, underpinning its focus on pioneering rare disease therapies.