ADOCIA Reports First Quarter 2025 Financial Results and Provides a Business Update
Adocia (Euronext Paris: FR0011184241 – ADOC, the 'Company'), a clinical-stage biopharmaceutical company focused on the research and development of innovative therapeutic solutions for the treatment of diabetes and obesity, reports financial results for the first quarter of 2025 and provides a business update.
' Our strategic priority remains securing partnerships for BioChaperone ® CagriSema and M1Pram. Meanwhile, our teams are fully committed to advancing AdoShell ® Islets toward the clinic and encouraging new preclinical data is being presented at several high-profile scientific conferences, ' says Olivier Soula, CEO of Adocia.
'Thanks to the private placement successfully completed in February 2025, along with the upcoming $10 million milestone payment for BC Lispro, we have secured our cash runway until Q2 2026. This allows us to fully focus on creating value for our shareholders, particularly through the conclusion of strategic partnerships,' adds Mathieu-William Gilbert, CFO-COO. 'In addition, we are now looking ahead to the top-line results from the BC Lispro Phase 3 studies in China, which should pave the way for regulatory authorization – associated with an additional $20 million milestone payment - and subsequently, recurring revenues through royalties.'
First quarter 2025 financial results
Financial highlights for the quarter include the following:
Detail of the revenue
The revenue of €0.4 million is mainly related to the feasibility study on the AdOral ® technology, applied to a novel incretin for an undisclosed partner.
Net Cash Position
The Company's cash position stood at €12.2 million as of March 31, 2025, compared to €7.5 million as of December 31, 2024. This position includes €9.7 million received from the private placement completed in February 2025 (see first quarter 2025 highlights below).
The cash burn related to activities in the first quarter of 2025 amounted to €6.6 million, compared to €5.8 million in the first quarter of 2024 (excluding financing).
Net financial debt (excluding IFRS 16 impacts), consisting exclusively of state-guaranteed loans (PGE), amounted to €3.9 million as of March 31, 2025, down €0.7 million compared to December 31, 2024, following the repayments made during this quarter. The maturity of these loans remains at the end of August 2026.
The cash position as of March 31, 2025, of €12.2 million allows the Company to fund its activities until the second quarter of 2026, taking into account the Tonghua Dongbao $10 million milestone to be received at the end of Q2 2025 and the receipt of the Research Tax Credit of €2.8 million, but without considering other potential revenues generated by existing or future partnerships.
First Quarter 2025 Highlights
End of the equity line (PACEO) entered into with Vester Finance
The PACEO financing agreement signed with Vester Finance on March 21, 2024 1, has now been completed. This agreement has enabled Adocia to raise a total of €11.4 million, via the issuance of 1.65 million shares (corresponding to an average exercise price €6.9 per share).
Successful completion of a €9.7 million Private Placement
On March 28, 2025, Adocia announced the realization of a €9.7 million Private Placement 2, through the issuance of a total number of 2,125,000 new shares, each with one share warrant attached. Gross Proceeds included €0.5 million from Gerard Soula, chairman of the Board and cofounder of the Company, €0.9 million from Vester Finance, an historical investor, €7 million from Armistice Capital and €1.3 million from a limited number of investors.
The Company intends to use 50% of the net proceeds of this Private Placement to step up development work on its AdoShell ® Islets project, including toxicology studies and the preparation of clinical batches for the launch of the clinical trial (FIH) and the balance to finance the Company's general corporate purposes and cash runway to Q2 2026.
BioChaperone ® Lispro – partnered with Tonghua Dongbao
Partner Tonghua Dongbao initiated two Phase 3 studies with Ultra-Rapid Insulin BioChaperone ® Lispro in 509 Type 1 and 978 Type 2 Diabetes people in 2022. The final dosing of the last Type 2 Diabetes patient was announced on December 12, 2024 3, triggering a $10 million payment to be received by Adocia at the end of Q2 2025. The last patient dosed in the Type 1 Diabetes study took place in January 2025, leading to the top-line results in mid-2025. Assuming successful Phase 3 results, Tonghua Dongbao plans on submitting Ultra-Rapid Insulin BioChaperone ® Lispro for Chinese regulatory review in 2025. The granting of Marketing Authorization would lead to an additional milestone payment of $20 million and double-digit royalties on sales to Adocia.
BioChaperone ® GLP-1 – Amylin / BioChaperone ® CagriSema
The preclinical development of BioChaperone ® CagriSema, which offers a stable combination of cagrilintide and semaglutide in the same delivery chamber, continues as planned. Data generated to date are promising regarding its commercial and manufacturing benefits over the combination of cagrilintide and semaglutide currently being developed by Novo Nordisk which requires each peptide to be in separate chambers, of a single-use pen device. BioChaperone ® CagriSema is expected to offer significant manufacturing advantages, such as enabling it to be included in existing multi-use pen platforms.
M1Pram – Ongoing exclusive discussions with Sanofi
M1Pram is a fixed combination of insulin and amylin analogs aimed at addressing the unmet medical need of obesity in insulin-dependent individuals.
A Phase 2b clinical program in the United States, involving 140 patients with Type 1 Diabetes and a BMI 4 >30kg/m², is in preparation.
Adocia has completed the manufacturing of clinical batches. The launch of the clinical trial is conditional on entering an agreement for its financing.
Adocia granted Sanofi an exclusive right to negotiate a partnership on M1Pram for €10 million 5. This exclusive right remains in place with ongoing discussions for a global partnership.
AdoShell ® Islets
The AdoShell ® platform, an immunoprotective biomaterial for cell therapy, continues its preclinical development. Preparatory work to submit a clinical trial application to the regulator remains on track for 2025.
The AdoShell ® Islets program has once again been selected to be featured at several conferences in 2025, including the EPITA Symposium, the H.C. Wainwright 3 rd Annual Cell Therapy Conference, the ATTD 2025 conference, the SFD 2025 congress, the ADA 85 th Scientific Sessions, the IPITA World Congress, EISG 2025, and the ISCT 2025 Annual Meeting.
AdOral ®
Adocia has developed an oral delivery technology for peptides, enabling the transition from injectable to oral forms, and has achieved promising preclinical results on semaglutide (GLP-1). Data on AdOral ® Sema was presented at the ATTD 2025 conference (18 th International Conference on Advanced Technologies & Treatments for Diabetes, 19-22 March, 2025, Amsterdam, The Netherlands).
The only GLP-1 commercially available in oral form to date, Rybelsus ®, achieved $3.4 billion in global sales in 2024 6. Oral delivery is a key factor in increasing patient adherence for those with diabetes and/or obesity.
Following an initial assessment phase, the AdOral ® technology is currently covered by an R&D collaboration agreement for an application to a novel incretin. All costs related to this agreement are covered by the partner and €0.6 million were recognized in revenue in the first quarter of 2025.
AdoGel ®
Designed to enable long-term peptide delivery, AdoGel ® is currently being studied on semaglutide (GLP-1). GLP-1, a market that generated over $53 billion in global revenue in 2024, is almost exclusively formulated for weekly injections 7. AdoGel ® 's unique technology could enable monthly or even quarterly injections. New preclinical results were selected for a poster presentation at the ATTD 2025 conference (18 th International Conference on Advanced Technologies & Treatments for Diabetes, 19-22 March, 2025, Amsterdam, The Netherlands) and for an oral presentation at the SFD 2025 congress (Congress of the Société Francophone du Diabète, April 1-4, 2025, Paris, France).
About Adocia
Adocia is a biotechnology company specializing in the discovery and development of therapeutic solutions in the field of metabolic diseases, primarily diabetes and obesity.
The Company has a broad portfolio of drug candidates based on four proprietary technology platforms: 1) The BioChaperone ® technology for the development of new generation insulins and products combining different hormones; 2) AdOral ®, an oral peptide delivery technology; 3) AdoShell ®, an immunoprotective biomaterial for cell transplantation, with an initial application in pancreatic cells transplantation; and 4) AdoGel ®, a long-acting drug delivery platform.
Adocia holds more than 25 patent families. Based in Lyon, the company has about 80 employees. Adocia is listed on the regulated market of Euronext ™ Paris (Euronext: ADOC; ISIN: FR0011184241).
Disclaimer
This press release contains certain forward-looking statements concerning Adocia and its business. Such forward-looking statements are based on assumptions that Adocia considers as being reasonable. However, there can be no guarantee that the estimates contained in such forward-looking statements will be achieved, as such estimates are subject to numerous risks including those set forth in the 'Risk Factors' section of the universal registration document that was filed with the French Autorité des marchés financiers on April 29, 2025, available at www.adocia.com. Those risks include uncertainties inherent in Adocia's short- or medium-term working capital requirements, in research and development, future clinical data, analyses and the evolution of economic conditions, the financial markets and the markets in which Adocia operates, which could impact the Company's short-term financing requirements and its ability to raise additional funds.
The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or not considered as material by Adocia at this time. The occurrence of all or part of such risks could cause the actual results, financial conditions, performances, or achievements of Adocia be materially different from those mentioned in the forward-looking statements.
_________________________________
1 Press Release, March 21,2024, ADOCIA Announces a €2 Million Fundraising from its two Main Shareholders and a Member of its Management, and the Signature of an Equity Financing Line with Vester Finance
2 For more details on the characteristics of this Private Placement, please refer to the Press Releases, February 26, 2025, ADOCIA Announces the Successful Completion of a €9.7 Million Private Placement, Extending its Cash Runway to Q2 2026; and February 28, 2025, ADOCIA Announces the Settlement-Delivery of its €9.7Million Private Placement
3 Press Release, Dec. 12, 2024, ADOCIA and Tonghua Dongbao Announce the Final Dosing in a Phase 3 Clinical Study of BioChaperone® Lispro, Milestone Associated with a $10 Million Payment
4 BMI stands for Body Mass Index, calculated as the mass of a person in Kg, divided by the square of its height in meters
5 Press Release, July 5, 2023, ADOCIA Grants Sanofi an Exclusive Right to Negotiate a Partnership on M1Pram for 10 Million Euros and Obtains Commitment from Investors to Provide 10 Million Euros in Financing
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Best CD rates today, August 14, 2025 (lock in up to 5.5% APY)
Find out which banks are offering the best CD rates right now. If you're looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about where CD rates stand today and how to find the best rates available. Banks with the best CD rates today CD rates are relatively high compared to historical averages. That said, CD rates have been on the decline since last year when the Federal Reserve began cutting its target rate. The good news is that several financial institutions offer competitive rates of 4% APY and up, particularly online banks. As of August 14, 2025, the highest CD rate is 5.5% APY, offered by Gainbridge® on its 5-year CD. There is a $1000 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. CD rate predictions for 2025 The Federal Reserve recently began decreasing the federal funds rate in light of slowing inflation and an overall improved economic outlook. It cut its target rate three times in late 2024 by a total of one percentage point. The Fed has indicated it will continue cutting its target rate in 2025. However, it now projects a total of three cuts, down from its previous projection of four. The federal funds rate doesn't directly impact deposit interest rates, though they are correlated. When the Fed lowers rates, financial institutions typically follow suit (and vice versa). So now that the Fed has lowered its rate, CD rates are beginning to fall again. That's why now may be a good time to put your money in a CD and lock in today's best rates. How to open a CD The process for opening a CD account varies by financial institution. However, there are a few general steps you can expect to follow: Research CD rates: One of the most important factors to consider when opening a CD is whether the account provides a competitive rate. You can easily compare CD rates online to find the best offers. Choose an account that meets your needs: While a CD's interest rate is a key consideration, it shouldn't be the only one. You should also evaluate the CD's term length, minimum opening deposit requirements, and fees to ensure a particular account fits your financial needs and goals. For example, you want to avoid choosing a CD term that's too long, otherwise you'll be subject to an early withdrawal penalty if you need to pull out your funds before the CD matures. Get your documents ready: When opening a bank account, you will need to provide a few pieces of information, including your Social Security number, address, and driver's license or passport number. Having these documents on hand will help streamline the application process. Complete the application: These days, many financial institutions allow you to apply for an account online, though you might have to visit the branch in some cases. Either way, the application for a new CD should only take a few minutes to complete. And in many cases, you'll get your approval decision instantly. Fund the account: Once your CD application is approved, it's time to fund the account. This can usually be done by transferring money from another account or mailing a check. Read more: Step-by-step instructions for opening a CD This embedded content is not available in your region.
Business Wire
an hour ago
- Business Wire
CIBL, Inc. Reports Second Quarter Operating Results
RENO, Nev.--(BUSINESS WIRE)--CIBL, Inc. ('CIBL' or the 'Company'; OTC Pink ®: CIBY), a holding company with interests in broadband operations in New Hampshire, reported its financial results for the quarter ended June 30, 2025. Revenues increased 4.1% to $529,000 in the second quarter of 2025 from $508,000 in the second quarter 2024 Earnings per share were $5.60 per share in the second quarter of 2025 compared to a loss per share of $5.22 in the second quarter 2024 Cash and investments, net of zero debt, were $20,452 as of June 30, 2025 Christopher Nossokoff joined CIBL as a mergers and acquisitions advisor to provide and accelerate our interest in non-organic growth Results from Operations Three Months Ended June 30, 2025 Revenues increased 4.1% to $529,000 in the second quarter 2025 from $508,000 in the second quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol. EBITDA from operations 1 decreased 21.3% to $118,000 in the second quarter 2025 compared to $150,000 in the second quarter 2024 due to less capitalized labor for plant under construction and switch replacements. Six Months Ended June 30, 2025 Revenues increased 7.9% to $1,053,000 for the six months ended June 30, 2025 from $976,000 for the six months ended June 30, 2024 due to new services, one-time equipment revenues and system upgrades. EBITDA from operations 1 decreased 16.8% to $242,000 for the six months ended June 30, 2025 from $291,000 for the six months ended June 30, 2024 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements. _______________ 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release. Expand Other Highlights Capital expenditures were $45,000 and $164,000 for the six months ended June 30, 2025, and 2024, respectively. During the six months ended June 30, 2025, the Company acquired 725 of its shares at an average price of $1,690 per share. As of June 30, 2025, CIBL has 11,541 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,325 of its shares for $21.8 million, or an average price of $1,420 per share. CIBL's Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value. About CIBL, Inc. CIBL is a holding company with interests in broadband operations. CIBL's operations consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: Cautionary Note Concerning Forward-Looking Statements To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate. CIBL Inc. and Subsidiaries Attachment B Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data) December 31, 2024 (Audited) June 30, 2024 Assets Current assets Cash and cash equivalents $ 1,594 $ 2,341 $ 1,348 Investments in United States Treasury Bills 16,550 16,598 18,841 Investment in available for sale equity securities 44 294 279 Investment in equity method limited partnership 1,706 1,645 1,595 Accounts receivable 253 284 221 Prepaid expenses 94 192 71 Materials and supplies 59 59 59 Income taxes receivable 37 - 43 Total current assets 20,337 21,413 22,457 Telecommunications, property, plant and equipment, net 907 958 771 Goodwill 337 337 337 Other intangibles, net 25 30 35 Other investments 1,708 1,636 700 Deferred income taxes 34 39 50 Other assets 59 59 71 Total assets $ 23,407 $ 24,472 $ 24,421 Liabilities Current liabilities Income taxes payable $ -- $ 14 $ -- Trade accounts payable and accrued expenses 142 138 124 Accrued liabilities 353 284 381 Total current liabilities 495 436 505 Other liabilities 46 46 59 Total liabilities 541 482 564 Equity Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,541, 12,266 and 12,399 outstanding -- -- -- Contributed capital 7,112 7,112 6,212 Retained earnings 37,545 37,416 37,147 Treasury stock, 15,325; 14,600; and 14,017 shares at cost (21,791 ) (20,538 ) (19,502 ) Total equity 22,866 23,990 23,857 Total liabilities and equity $ 23,407 $ 24,472 $ 24,421 Expand CIBL Inc. and Subsidiaries Attachment C EBTIDA Reconciliation (Unaudited) (USD in thousands, except share data) The following table is a reconciliation of EBITDA from operations to Net income (loss): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 65 $ (65 ) $ 129 $ (126 ) Adjustments: Interest income (185 ) (266 ) (377 ) (521 ) Income tax expense (benefit) 20 (31 ) 34 (46 ) Depreciation and amortization 52 34 100 65 Total adjustments (113 ) (263 ) (243 ) (502 ) EBITDA (48 ) (328 ) (114 ) (628 ) Corporate office expenses 273 280 509 523 Equity in earnings of affiliated companies (107 ) 127 (133 ) 283 Unrealized and realized losses on available for sale equity securities - 71 (20 ) 113 EBITDA from operations $ 118 $ 150 $ 242 $ 291 Expand
Yahoo
4 hours ago
- Yahoo
Reejig Brings World-First Task-Level Intelligence to Galileo, Giving Leaders the Clarity to Reinvent Work for AI
Reejig's partnership with The Josh Bersin Company enables leaders to make data-driven AI transformation decisions, with visibility into exactly what work can be automated and how to redesign roles for the AI era. NEW YORK CITY, N.Y., Aug. 15, 2025 /PRNewswire/ -- Reejig, the pioneer of work intelligence and creator of the world's first Work Ontology®, has partnered with The Josh Bersin Company as the Trusted Content Partner for Galileo, the AI-powered HR expert assistant. Already trusted by global enterprises including WPP, Salesforce, Micron and IKEA, Reejig brings its detailed task-level intelligence to Galileo, giving leaders the most validated view of the work available today. Just like Google mapped the internet, Reejig has mapped work by breaking down every industry and role into its component tasks and skills. Built by world-leading workforce design experts, Reejig's Work Ontology® is powered by 23 proprietary industry ontologies, enriched with intelligence from over 130 million real jobs, and validated with billions of live work signals from the world's largest organizations - capturing the full DNA of how work is designed, executed, and evolved. This comprehensive mapping is what enables Reejig to deliver task-level intelligence - giving leaders visibility into exactly what work gets done and how it can be transformed. For Galileo, Reejig has provided its HR domain dataset, enabling leaders to see and understand the AI potential of all tasks in the HR function at a granular level of detail. Organizations looking to apply this same intelligence across finance, operations, technology, and every other function can access the full enterprise Work Ontology® directly through Reejig. The Clarity AI Transformation Has Been Missing As enterprises race to deploy AI, too many are doing so without a clear understanding of the work itself - risking wasted investment, workforce resistance, and misaligned priorities. The integration brings unprecedented task-level visibility into Galileo, enabling IT, HR, and business leaders to orchestrate AI transformation with precision — from identifying automation opportunities to re-engineering roles and reinventing work. With the Work Ontology®, leaders can: Gain complete visibility into every job, task, and process with clear, actionable data. Get the highest validated skill data by using skills based on the work being done, not inference. Plan AI transformation using work-level insights to identify automation opportunities, and work reinvention needs. Activate work intelligence to optimize resource allocation, maximize AI capabilities, and drive workforce efficiency. Siobhan Savage, CEO & Co-Founder of Reejig, said: "You can't lead an AI transformation if you can't see the work itself. Too many organizations are making AI decisions based on incomplete or outdated data, risking wasted investment and misaligned priorities. Our Work Ontology® is the critical infrastructure that makes work visible at the task level - so leaders know exactly what can be automated, what needs to evolve, and how to reinvent their workforces responsibly. By powering Galileo with this intelligence for HR, we're giving leaders the clarity, control, and confidence to redesign work for the AI era and do it at scale." Josh Bersin, CEO of The Josh Bersin Company, added: "Reejig's Work Ontology® turns Galileo into a "job task analysis" Agent instantly, helping HR and leadership teams quickly analyze job roles and find opportunities for AI transformation. We are excited to partner with Reejig, one of the leaders in AI-powered job task and work architecture tools." A New Standard for Work Intelligence Reejig's selection as the Trusted Content Partner for Galileo reinforces its position as the critical infrastructure for the AI-powered workforce. While Galileo now delivers unparalleled intelligence for HR work, the full scope of Reejig's Work Ontology® covers the entire enterprise - enabling organizations to apply the same level of precision to every function, from finance to operations to technology. By combining Reejig's granular, validated work data with Galileo's AI assistant and 25 years of Bersin research, enterprises gain the clarity, confidence, and control to: Scale AI initiatives without guesswork. Redesign roles and workflows with precision. Align talent, technology, and strategy to deliver measurable business impact. See It in Action Reejig and The Josh Bersin Company will be showcasing Galileo and Reejig live in action on September 4, 2025 in an exclusive webinar for enterprise leaders. Attendees will see how leaders can use this combined intelligence to redesign work, accelerate transformation, and unlock capacity. Register here: About Reejig Reejig is a force for workforce transformation in the AI era. Our Work Intelligence platform empowers organizations to boldly reinvent how work gets done, helping businesses thrive, individuals maximize their potential, and societies prosper. Through intelligent work orchestration, we're proving that AI isn't here to replace - it's here to empower. This is what we call Zero Wasted Potential. For more, go to About The Josh Bersin CompanyThe most trusted human capital advisors in the world. More than a million HR and business leaders rely on us to help them overcome their greatest people challenges. Thanks to our understanding of workplace issues, informed by the largest and most up-to-date data sets on workers and employees, we give leaders the confidence to make decisions in line with the latest thinking and evidence about work and the workplace. We're great listeners, too. There's no one like us, who understands this area so comprehensively and without bias. Our offerings include the industry's leading AI-powered HR expert assistant, Galileo®, fueled by 25 years of in-depth Josh Bersin Company research, case studies, benchmarks, and market information. We help CHROs and CEOs be better at delivering their business goals. We do that by helping you to manage people better. We are enablers at our core. We provide strategic advice and counsel supported by in-depth research, thought leadership, and unrivaled professional development, community, and networking opportunities. We empower our clients to run their businesses better. And we empower the market by identifying results-driven practices that make work better for every person on the planet. For more information, press only:Louisa Grundypress@ View original content to download multimedia: SOURCE Reejig
