Latest news with #EUR
Business Wire
7 hours ago
- Business
- Business Wire
Poxel Provides Update on Negotiations with Creditors and Announces Filing of Reorganization Proceedings, Upcoming Change of Corporate Governance and Suspension of Trading
LYON, France--(BUSINESS WIRE)--Regulatory News: POXEL SA (Euronext : POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including metabolic dysfunction-associated steatohepatitis (MASH) and rare metabolic disorders, today provides an update on its ongoing negotiations with its creditors and its agreement with its senior creditor, IPF Partners, to file for insolvency (déclaration de cessation des paiements), to request the opening of reorganization proceedings (redressement judiciaire) and to undertake significant corporate governance changes in a short notice. Context Failure at the Combined Shareholders' Meeting of February 11, 2025 to approve certain financial delegations, and, in particular, on the issuance of new shares in redemption for bonds redeemable into new or existing shares (ORANE) held, or to be potentially issued and held by IRIS, triggered an event of default under the IRIS and IPF Partners bond financing agreements allowing each of them to request mandatory redemption of the bonds they hold (EUR 4.3 million and EUR 14.2 million, respectively, as of June 30, 2025). Since then, Poxel's Board and Management have actively engaged in restructuring discussions with creditors to identify a solution that would allow the Company to continue its operations. At the same time, the Company pursued discussions with several potential partners for the development of its pipeline. In particular, Poxel entered into advanced negotiations with a prospective partner for PXL065. However, given the short cash runway of the Company (which the Company announced on June 30, 2025 to run through the course of July 2025) as well as the foreseeable timeframe required to close this partnership and sale, this plan could not be completed. As a result, Poxel Management and Board of Directors have agreed to proceed with the following significant structural corporate changes at Poxel, following the filing for insolvency (déclaration de cessation des paiements) and requesting the opening of reorganization proceedings (redressement judiciaire) with the Court for Economic Activities of Lyon. Estimated Consolidated Cash and Cash Equivalents Position as of June 30, 2025 The Company estimates that its total consolidated cash and cash equivalents as of June 30, 2025, amounted to approximately EUR 1.3 million (unaudited), including EUR 563 thousand corresponding to cash held in security trusts bank accounts to secure their financing for several years, in accordance with the royalty monetization agreement with OrbiMed. Filing for insolvency (déclaration de cessation des paiements) and for the opening of reorganization proceedings (redressement judiciaire) On July 29, 2025, Poxel filed for insolvency (déclaration de cessation des paiements) and for the opening of reorganization proceedings (redressement judiciaire) with the Court for Economic Activities of Lyon. A decision of the court is expected to occur on or after the hearing scheduled on August 5, 2025. Impact on Governance and Organization Given the inability to secure support from creditors for its strategic development plan, an agreement between the Board of Directors of Poxel and its senior creditor IPF Partners has been reached to implement the following measures: Replacement of all the current Board members following their individual resignation by new directors coopted by the Board of Directors in a short notice after the filing for the opening of reorganization proceedings (redressement judiciaire) in front of the Court for Economic Activities of Lyon. Appointment of a new transition CEO by the new Board of Directors to occur in a short notice after the filing for the opening of reorganization proceedings (redressement judiciaire) in front of the Court for Economic Activities of Lyon. Implementation of a short-term financial and operational transition plan aimed at ensuring the continuity of Poxel's operations. Existing CEO Thomas Kuhn will provide support to the Company during this transition period. The Board of Directors of the Company has approved the agreement with IPF Partners which is summarized herein and on the website of the Company under the related party transactions (conventions réglementées) subsections. Outlook and 2024 annual accounts Implementation of the steps of the proposed transition plan will be announced as soon as effective, including the change of Governance and the decision of the Court for Economic Activities of Lyon regarding the request for the opening of reorganization proceedings (redressement judiciaire). Given the current situation, the Company is unable to provide an effective timeline for the approval and publication of its 2024 annual report or the convening of its next Annual General Meeting, which has been postponed as mentioned below. Suspension of trading Poxel's shares will be suspended from trading starting July 30, 2025, before market opening and will trade again after the decision of the Court for Economic Activities of Lyon expected to occur on August 5, 2025, or shortly after. Poxel will continue to inform the market of the next major steps of its reorganization proceedings. Postponement of Annual General Meeting until December 31, 2025 As already made public on June 30, 2025, the Lyon Court for Economic Activities granted the Company's request to postpone until December 31, 2025, at the latest, the holding of its 2025 Annual General Meeting due to the delay in the approval of its annual statutory and consolidated financial statements for the fiscal year 2024. As a reminder, this delay in the closing and publication of its 2024 annual results resulted from the potential impact of the negotiations with the Company's financial creditors and with potential partners for the development of the Company's pipeline on its financial statements. The holding of the 2025 Annual General Meeting remains subject to the approval by the Board of Directors of the financial statements for the year ended December 31, 2024. About Poxel SA Poxel is a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including metabolic dysfunction-associated steatohepatitis (MASH) and rare disorders. For the treatment of MASH, PXL065 (deuterium-stabilized R -pioglitazone) met its primary endpoint in a streamlined Phase 2 trial (DESTINY-1). In rare diseases, development of PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, is focused on the treatment of adrenoleukodystrophy (ALD) and autosomal dominant polycystic kidney disease (ADPKD). TWYMEEG ® (Imeglimin), Poxel's first-in-class product that targets mitochondrial dysfunction, is now marketed for the treatment of type 2 diabetes in Japan by Sumitomo Pharma and Poxel expects to receive royalties and sales-based payments. Poxel has a strategic partnership with Sumitomo Pharma for Imeglimin in Japan. Listed on Euronext Paris, Poxel is headquartered in Lyon, France, and has subsidiaries in Boston, MA, and Tokyo, Japan. For more information, please visit: All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company's control. These statements may include, without limitation, any statements preceded by, followed by or including words such as 'target,' 'believe,' 'expect,' 'aim,' 'intend,' 'may,' 'anticipate,' 'estimate,' 'plan,' 'project,' 'will,' 'can have,' 'likely,' 'should,' 'would,' 'could' and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company's control that could cause the Company's actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements. The Company does not endorse or is not otherwise responsible for the content of external hyperlinks referred to in this press release.
Yahoo
10 hours ago
- Business
- Yahoo
ASML Slides From Buy to Hold — Analyst Cites Slower Growth Ahead
ASML Holding N.V. (NASDAQ:ASML) is one of the . On July 23, Erste Group analyst Hans Engel downgraded the stock from Buy to Hold due to uncertainty revolving around its revenue growth prospects for 2026. ASML's revenue and profit growth are both expected to be lower than in 2025. The firm believes that ASML maintains 'a monopoly position in state-of-the-art lithography systems,' particularly highlighting the company's leading market position in advanced chipmaking equipment. A close-up of a financial analyst looking intently at an investment portfolio of underlying assets. As per the research note, ASML's third quarter guidance for total net sales is between EUR 7.4 billion and EUR 7.9 billion. The firm added that it also anticipates a slightly lower gross margin of 50% to 52% in the third quarter in comparison to the previous quarter. ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment, including lithography, metrology, and inspection systems for chip manufacturing. While we acknowledge the potential of ASML as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
The Market Online
14 hours ago
- Business
- The Market Online
RENK, Almonty Industries, thyssenkrupp: Three stocks that are benefiting NOW from the new security dividend
Geopolitical turmoil is accelerating growth in key sectors. As defense budgets rise worldwide and supply chains are realigned, specialized players are positioning themselves as indispensable partners. High demand for security-critical technology, strategic raw materials, and innovative industrial solutions is driving this development, giving selected companies extraordinary momentum. We take a look at RENK, Almonty Industries (TSX:AII), and thyssenkrupp to see who is benefiting now. This article is disseminated in partnership with Apaton Finance GmbH. It is intended to inform investors and should not be taken as a recommendation or financial advice. RENK – Strong start to the year with record figures and analyst optimism RENK has made a dynamic start to 2025. The drivetrain technology specialist more than doubled its order intake in the first quarter, posting an impressive increase of 163.5%, resulting in a record order backlog of EUR 5.5 billion. This provides an excellent basis for the years to come. The Company also posted strong growth in revenue and operating profit. Revenue rose by 14.7% to EUR 273 million, while adjusted EBIT increased by over 38% to EUR 38 million. The EBIT margin improved significantly to 14.1%. The defense business is clearly driving this strong start. Management has confirmed its full-year guidance. A closer look at the segments paints a clearer picture. The Vehicle Mobility Solutions (VMS) division is sprinting ahead. Order intake quadrupled, revenue rose by 28%, and EBIT by 47%. Large defense contracts are coming in, such as for US combat vehicles. The Marine & Industry (M&I) business is showing mixed signals. While order intake grew by 25%, revenue declined slightly, primarily due to project postponements. However, profitability improved significantly here. The Plain Bearings segment performed solidly in line with plan, with moderate revenue and EBIT growth, although order intake declined slightly. The positive development has also caught the attention of analysts. Several analysts have recently raised their price targets for RENK significantly, underscoring their confidence in the Company's future prospects. Berenberg, for example, has raised its target to EUR 84, while Kepler Cheuvreux has even raised its target to EUR 85 and upgraded its rating to 'Buy.' Deutsche Bank is also more optimistic and raised its target to EUR 73. It justifies this primarily with the strong operating momentum, the huge order backlog, and the continuing tailwind from global defense spending. These assessments signal further confidence in RENK's growth model. The share is currently available for EUR 68.35. Almonty Industries – Tungsten gem with underestimated strategic value While some competitors, such as MP Materials in the critical minerals sector, are benefiting from political signals and high visibility, Almonty Industries (TSX:AII) still shows a striking valuation gap. The Company is building real infrastructure, reducing Western dependence on China, and dominating the strategic tungsten market. Despite tangible progress and ongoing production in Europe, however, it continues to be valued as a pure exploration company, even though competitors with weaker fundamentals command higher valuations. This gap reflects less of an operational reality and more of a market inefficiency. The key to Almonty's potential lies in the Sangdong project in South Korea. The mine has a life span of over 90 years and contains high-grade tungsten deposits. It is becoming one of the largest tungsten mines outside China, fully approved and with government support. Long-term off-take agreements, including those for the US defense industry, are already in place. Sangdong thus functions not only as a mine, but also as a stabilizing pillar in fragmented supply chains. However, the current valuation still treats the project as a vision for the future, despite commissioning being imminent. According to analysts, the undervaluation is mainly due to low awareness compared to better-marketed players. The recent NASDAQ listing significantly improves visibility. The start of production in Sangdong will be decisive. Once production begins, Almonty will transition from a project story to a cash-flow-generating producer with a unique strategic position. Several research firms see massive catch-up potential here. Sphene Capital and GBC have set price targets in the CAD 8.40-8.50 range. Yesterday, US research firm Alliance Global Partners published its study on Almonty shares, which included a price target of USD 6.75. The analysts point to the striking valuation gap compared to comparable companies such as MP Materials, despite Almonty's significantly stronger growth outlook. The market is likely to correct this discrepancy as soon as the operational performance becomes visible. The share is currently trading at USD 3.66 on the NASDAQ. Lyndsay Malchuk and GBC analyst Matthias Greiffenberger on Almonty vs. MP Materials thyssenkrupp – Between restructuring, marine boom, and steel crisis The Essen-based industrial giant is resolutely pushing ahead with its restructuring. The spin-off of the marine division, TKMS, is progressing particularly dynamically. Following the Supervisory Board's decision, shareholders will vote on the planned IPO at an extraordinary general meeting on August 8. thyssenkrupp will retain a majority stake. TKMS is performing strongly with a record order book of around EUR 18 billion and growing profitability. Instead of a stake, the German government is securing comprehensive rights of co-determination via a 'security agreement.' At the same time, the automotive division is being restructured to make it fit for the capital markets, with four focused business units effective from October. The problem child steel division is showing extreme contrasts. On the one hand, thyssenkrupp Steel is investing EUR 800 million in high-tech facilities, such as the new rolling mill in Duisburg, to enhance quality and efficiency for e-mobility and the energy transition. On the other hand, the weak market environment requires drastic cuts. The restructuring package negotiated with the IG Metall union provides for production capacities to be reduced to 8.7–9 million tons, combined with job cuts of up to 1,600 by 2029. Additional efficiency measures will impact approximately 3,700 jobs. Reduced working hours and cuts in special payments are weighing on the workforce. High energy costs and international punitive tariffs are exacerbating the pressure. The recent share price rally is mainly fueled by hopes of value realization through the TKMS spin-off and portfolio concentration. However, operating performance is lagging. Revenue and operating profit in the steel and automotive businesses are stagnating in the face of lower demand and price pressure. The equity ratio developed positively to a solid 37%. Thanks to special items, the Company as a whole closed with a net profit of EUR 167 million. For investors, thyssenkrupp remains a game with opportunities due to the marine boom, but also faces risks such as the ongoing steel crisis and global trade conflicts. The shareholder decision on TKMS on August 8 will be decisive for the further direction. A share currently costs EUR 10.70. The need for security is driving specialized companies in times of geopolitical tension. RENK is benefiting from record orders and strong defense business, supported by analyst optimism and clear growth momentum. Almonty Industries remains an undervalued gem. The Sangdong tungsten project, which is about to begin production, positions it as a strategic raw material pillar outside China. The current valuation does not yet reflect this potential. thyssenkrupp is balancing between opportunities such as the naval boom with TKMS and legacy issues. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') currently hold or hold shares or other financial instruments of the aforementioned companies and speculate on their price developments. In this respect, they intend to sell or acquire shares or other financial instruments of the companies (hereinafter each referred to as a 'Transaction'). Transactions may thereby influence the respective price of the shares or other financial instruments of the Company. In this respect, there is a concrete conflict of interest in the reporting on the companies. In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual this reason, there is also a concrete conflict of interest. The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies. Risk notice Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such. The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user. The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
Shafaq News
14 hours ago
- Politics
- Shafaq News
EU pledges €1.1M to tackle Basra water crisis
Shafaq News – Baghdad The European Union announced, on Tuesday, the allocation of €1.1M in emergency humanitarian aid to address the worsening water crisis in Basra, southern Iraq. In a statement, the EU mission in Iraq said the funding will support urgent water, sanitation, and hygiene (WASH) needs over the next six months, targeting the most vulnerable communities. An estimated 500,000 people have been severely affected by deteriorating water quality and limited access to clean water. The mission noted that many of those impacted live in informal settlements on the outskirts of Basra, where the crisis is most acute. The funding, channeled through the Norwegian Red Cross in partnership with the Iraqi Red Crescent, aims to deliver rapid and effective assistance to the hardest-hit populations. The EU outlined that the response will focus on restoring and upgrading water supply units in underserved areas, delivering clean water by tanker to remote communities, and improving water treatment systems in locations facing the most severe shortages. The European Union allocates EUR 1.1 million to address urgent water crisis in Basra, Iraq 🇪🇺🇮🇶 — EU in Iraq 🇪🇺🇮🇶 (@EUinIraq) July 29, 2025 Basra's water crisis, the worst since 2018, has been fueled by multiple factors, including reduced flow from the Euphrates before it reaches the city, declining levels of the Tigris due to drought, and extensive upstream water usage.
Pink Villa
15 hours ago
- Business
- Pink Villa
Ravi Shastri reveals the 10-figure incomes of cricket icons MS Dhoni, Virat Kohli and Sachin Tendulkar
In a candid chat with former England players on the Stick to Cricket podcast, Ravi Shastri left the room stunned by pulling back the curtain on what India's cricketing elite truly make off the field. While fans are often aware of match fees and IPL contracts, Shastri brought up the staggering sums that come from brand endorsements. According to the cricket commentator, legends like Virat Kohli, MS Dhoni, and Sachin Tendulkar each pull in over INR 100 crore, approximately EUR 10 million, every year through endorsements alone. 'Upwards of Rs 100 crore' from endorsements Shastri, speaking to Michael Vaughan, Sir Alastair Cook, David Lloyd and Phil Tufnell, emphasized that cricket in India offers commercial opportunities rivaling global football stars. 'They earn a lot. A lot through endorsements,' he said. When pressed for specifics, he broke it down bluntly: 'Upwards of 100 crores. Which would say 10 million pounds.' The calculation—roughly one pound to 100 rupees—sparked audible surprise among the English panel. Shastri then reiterated that this figure could be even higher in some cases, given the sheer scale of the Indian market. No time to do more, even at that rate According to Shastri, Indian cricket's top-tier stars are so busy that their endorsement opportunities are limited not by demand, but by time. 'Someone like an MS, or a Virat, or Sachin in his pomp... they would do over 15-20 ads. And it's per day,' he explained, 'There's no time; they could easily do more.' That intense scheduling pressure, combined with relentless on-field commitments, prevents even more commercial work, despite potentially higher paydays. 'They'll do an ad for a year… and give a day for the shoot, that's all you'll get. And then you play it out as many times as you want,' he stated, explaining just how massive cricket's commercial engine is in India.
