Poxel: Twymeeg sales up 32% in Q2, €5.5M bonus conditional on 10 billion yen threshold
Twymeeg net sales in Japan, a drug commercialized by Sumitomo Pharma, increased 32% in the second quarter of 2026, bringing Poxel's consolidated royalties to 1.237 million euros (+23%). Achievement of the 10 billion yen threshold, anticipated by Sumitomo for its fiscal year 2026, would trigger a €5.5 million bonus and raise the royalty rate from 10% to 12%, with these cash flows allocated to repayment of the group's convertible bond.
In parallel, Poxel announces the postponement of its 2025 financial statements publication and general meeting, justified by the complexity of IFRS valuation of its debt.
Twymeeg sales up 32% in Q2 and 34% in H1
Twymeeg net sales in Japan reached 2.9 billion yen (€15.5 million) in the second quarter of 2026, up 32% compared to the second quarter of 2025 (2.2 billion yen). Over the first six months of the year, sales amounted to 5.2 billion yen (€28.2 million), up 34% compared to the first half of 2025.
Poxel's consolidated revenue, comprised of royalties received from Sumitomo Pharma, is also growing. The group recorded revenues of €1.237 million in the second quarter of 2026, compared to €1.003 million in the second quarter of 2025, representing growth of 23%. Over the half-year, revenues reached €2.514 million compared to €2.065 million a year earlier, an increase of 22%.
A threshold triggering bonus and improvement of royalty rate
Sumitomo Pharma anticipates that Twymeeg net sales could exceed 10 billion yen during its fiscal year 2026, which extends from April 2026 to March 2027. Achievement of this threshold would trigger two improvements for Poxel.
First, Poxel would receive a contractual bonus of 1 billion yen (€5.5 million). Next, the royalty rate on Twymeeg net sales would increase from 10% to 12%, increasing its share of future revenues. Concurrently, Poxel pays Merck Serono, under a licensing agreement, a fixed 8% royalty on these same sales. In accordance with the royalty monetization agreement concluded with OrbiMed, positive net royalties will be entirely allocated to repayment of the obligations.
Postponement of 2025 financial statements for accounting valuation reasons
Poxel announces the postponement of its 2025 financial statements publication and general meeting. The company justifies this decision by the complexity of valuing its debt according to IFRS standards as of December 31, 2025, exacerbated by restructuring and financing operations that occurred in the first quarter of 2026: establishment of a share warrant subscription line (BSA) with Iris, restructuring of IPF debt, and sale of PXL770 to Scynexis announced on March 31, 2026.
This sale of PXL770 generated an initial payment of $8 million, with potential additional cash flows of $8 million in the short term and up to $180 million linked to future commercial milestones.
