Biotechnology Molecular Partners now sees itself financed until 2027

The biotechnology company Molecular Partners in Schlieren, Zurich, can continue to operate with its current level of liquidity until 2027. This is somewhat longer than the company had previously communicated.

According to a statement issued on Monday evening, Molecular Partners has used 32.8 million Swiss francs for its business activities in the first half of 2024. At the end of June, the company had cash and cash equivalents of 159.1 million francs. The loss in the first half of the year amounted to 26.4 million francs.

As the company does not yet have its own medicines on the market, it is still "burning" money. Cash and cash equivalents are correspondingly important. The company now sees itself financed until 2027 with these funds. Previously, Molecular Partners had spoken of "well into 2026".

Molecular Partners is now forecasting operating expenses of between CHF 65 and 75 million for the year as a whole at constant exchange rates. Previously, the forecast had been between CHF 70 and 80 million. Around CHF 8 million of this was for non-cash costs for share-based payments, IFRS pension settlements and depreciation and amortization.

Molecular Partners also announced that this forecast did not include potential income from partnerships in the area of research and development.

The company also appointed Philippe Legenne as Chief Medical Officer on the reporting date, the press release added. Legenne joined Molecular Partners at the beginning of 2020.