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Press release content from Accesswire. The AP news staff was not involved in its creation.

Pixium Vision (ALPIX): Advancing Towards Sight Restoration in Dry-AMD

October 6, 2021 GMT
LONDON, UK / ACCESSWIRE / October 6, 2021 / Prima, a potentially breakthrough wireless bionic vision system (BVS) that generates electrical impulses at the retinal level, continues to advance through the PRIMAvera pivotal EU study. Prima aims ...
LONDON, UK / ACCESSWIRE / October 6, 2021 / Prima, a potentially breakthrough wireless bionic vision system (BVS) that generates electrical impulses at the retinal level, continues to advance through the PRIMAvera pivotal EU study. Prima aims ...
LONDON, UK / ACCESSWIRE / October 6, 2021 / Prima, a potentially breakthrough wireless bionic vision system (BVS) that generates electrical impulses at the retinal level, continues to advance through the PRIMAvera pivotal EU study. Prima aims ...

LONDON, UK / ACCESSWIRE / October 6, 2021 / Prima, a potentially breakthrough wireless bionic vision system (BVS) that generates electrical impulses at the retinal level, continues to advance through the PRIMAvera pivotal EU study. Prima aims to restore a form of central visual perception in patients with advanced dry age-related macular degeneration (dry-AMD) involving geographic atrophy (GA). While we have pushed back our potential launch forecast to H124 (from H223), after tweaking our market growth assumptions, we now obtain a higher equity valuation of €143.3m (versus €138.0m previously).

Pixium had €10.13m in cash and €9.48m debt at 30 June, and subsequently raised €7.376m (net) in equity through a capital increase and also converted c €1.1m of debt to equity. After adding €9.1m H121 pro forma net cash, we obtain an equity valuation of €143.3m (from €138.0m, previously), largely due to slight increases in our longer-term growth assumptions, or €2.47 per basic share (from €2.41 previously). We believe that Pixium’s current funds on hand should last to end Q422, and assume it will need to raise €29.4m (from €25.4m, previously), modelled as illustrative long-term debt, to bring Prima to commercial launch.

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