MADRID, 2 Nov. (EUROPA PRESS) -
Oryzon Genomics recorded a net loss amounting to 1.93 million euros during the first nine months of this year, 26% less compared to the 'red numbers' registered in the same period of the previous year, as a result of a reduction of operating costs, as reported this Thursday by the company to the National Securities Market Commission (CNMV).
The company has underlined that this result is consistent with the specificity of the biotechnology business model, in the development phase in which the firm is, with a long-term maturation period for its products, and without recurrences since income perspective.
Between January and September, income related to work carried out for its own fixed assets at the end of the third quarter of 2022 amounted to 11.3 million euros, above the 7.7 million euros of a year earlier.
As of September 30, 2022, Oryzon maintains a financial position with available resources amounting to 27.8 million euros, which allows it to continue with the development of its R&D activities and the development of its clinical studies.
The company has intensified its investments in R&D in the third quarter of 2022, reaching a figure of 12.2 million euros, which represents an increase of 27% compared to the same period of the previous year.
R&D investments of €12.2 million correspond to €11.3 million in development activities and €0.9 million in research activities.