GlobeNewswire by notified

Pixium Vision announces the availability of its audited financial statements for the financial year 2021


Pixium Vision announces the availability of its
audited financial statements for the financial year2021

Paris, 29April 2022 – 7.00 p.m. CET - Pixium Vision SA (Euronext Growth Paris - FR0011950641), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, announces that its audited financial statements for the year 2021 have been made available on the company’s website. The 2021 financial statements were approved by Pixium Vision’s Board of Directors at its meeting on 6 April 2022, including minor audit differences to the unaudited financial results published on 22 February 2022 as specified below.

2021 annual results (audited) - Excerpts

Income statement summary
In thousands of euros20212020(*)Change
Revenue and other income2,6552,092+26.9%
Operating expenses(12,916)(10,526)+22.7%
Research and Development(7,282)(6,152)+18.4%
General and administrative expenses(5,633)(4,374)+28.8%
Operating income (loss)(10,260)(8,435)+21.6%
Net income (loss)(10,930)(9,134)+19.7%
Net earnings per share(0.23)(0.27)

(*) 2020 restated: impact of change in IAS19 calculation (cf. note IAS19 Retirement Benefits)

Statement of cash flows summary
In thousands of euros20212020(*)
Opening cash and cash equivalents10,5666,791
(Decrease)/Increase in cash position3,9393,774
O/W net cash flows from operating activities(8,829)(6,906)
O/W net cash flows from investment activities(52)197
O/W net cash flows from financing activities12,81810,482
Effect of exchange rate changes on cash2-
Closing cash and cash equivalents14,50510,566

(*) 2020 restated: impact of change in IAS19 calculation (cf. note IAS19 Retirement Benefits)

Analysis of 2021 results (audited)

In financial year 2021, the Group did not generate any sales.

Revenue and other income amounted to €2.7 million, compared to €2.1 million the previous year. In 2021 revenue and other income are comprised essentially of a Research Tax Credit (CIR) in the amount of €1.6 million and €0.8 million for contractual indemnities paid by Second Sight Medical Product Inc. (SSMP). These indemnities were paid following the unilateral termination of the MOU between the two companies concluded on 5 January 2021 by SSMP.

Operating expenses amounted to €12.9 million, compared to €10.5 million in 2020. Operating expenses increased by 22.7% for €2.4 million of which €1.1 million in research and development and €1.3 million in general and administrative expenses.

  • Research and Developmentexpenses totalled €7.3 million, compared to €6.2 million the previous year. In 2021, Pixium Vision strengthened its clinical team and opened several clinical centers in Europe as part of its PRIMAvera pivotal study. In addition, the Group continued to develop and manufacture its Prima bionic vision system to ensure the progress of its ongoing clinical studies.
  • General and administrativeexpenses totaled €5.6 million compared to €4,4 million in 2020. The increase is mainly linked to the costs incurred by the Company for legal services in preparation for its business combination with Second Sight Medical Product.

Operating income (loss) for 2021 was a loss of €10.3 million, compared to a €8.4 million operating loss in 2020.

Net income(loss) was a loss of €10.9 million (compared to a loss of €9.1 million in 2020). In 2021, the Group recognised interest results of €0.7 million (compared €0.7 million in 2020). The Group did not recognize corporate income tax expense for 2021. The loss per share was €0.23 and €0.27 per share in 2021 and 2020, respectively.

Net cash flows from operating activities increased in 2021 to €8.8 million in outflow, compared to €6.9 million in 2020. The increase in net cash outflow reflects the initiation of the PRIMAvera study, the continuation of the US feasibility study, as well as the spending associated with the preparation of the business combination with Second Sight Medical Products, Inc.

Net cash flows from investment activities amounted to €0.1 million and mainly correspond to IT equipment.

Net cash flows from financing activities totalled €12.8 million in inflow in 2021. They reflect mainly a capital increase of approximately €8.0 million in gross proceeds and the drawdown of 5 ORNAN tranches for a total of €6.25 million in gross proceeds under its agreement with ESGO. Following the drawdown of the last tranche on 12 May 2021, there is no longer any outstanding warrants as the entire 10 million financing has been drawn.

Pixium Vision ended 2021 with a net cash position of €14.5 million, compared to €10.5 million at the end of 2020.

Audit differences have been included in the financial statements 2021. Under IAS 32 certain warrants granted to investors in July 2021 (BSA 2021 US) are to be valued at fair market value which created an interest income of €0.1 million for the financial year 2021 leading to a decrease of Net Loss compared to the unaudited report.


Pixium Vision

Offer Nonhoff
Chief Financial Officer
Media Relations

LifeSci Advisors
Sophie Baumont

+33 6 27 74 74 49
Investor Relations
LifeSci Advisors
Guillaume van Renterghem

+41 76 735 01 31


Pixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.

Forward-Looking Statements. This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Company’s 2021 Half-Year Financial Report and other documents the Company files with the AMF, which is available on the AMF website (www.amf- or on the Company’s website.

For more information:

Follow us on @PixiumVision;


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Media Advisory: Bombardier to Host Special Celebration at the European Business Aviation Conference and Exhibition in Geneva20.5.2022 23:30:00 CEST | Press release

GENEVA, May 20, 2022 (GLOBE NEWSWIRE) -- Bombardier will host a special live and virtual event at the European Business Aviation Convention and Exhibition (EBACE) in Geneva on Monday, May 23, 2022. The event, led by Éric Martel, President and CEO, Bombardier, will highlight the continued ingenuity, innovation and leadership that is an integral part of Bombardier’s DNA. Date:Monday, May 23, 2022Time:11:00 a.m. – 11:45 a.m. (Central European Time) 5:00 a.m. – 5:45 a.m. (Eastern Time; North America)Venue:Geneva Palexpo Route François-Peyrot 30, 1218 Le Grand-Saconnex, Switzerland Bombardier Booth Z117 For those unable to attend in person, the event will also be available live on LinkedIn and Facebook at the following links: LinkedIn Event: Facebook Event: YouTube Event: About Bombardier Bombardier is a global leader in aviation, focused on

EVS Q1 2022 Business Update – Continued Strong Momentum20.5.2022 17:45:00 CEST | Press release

EVS Q1 2022 BUSINESS UPDATE – CONTINUED STRONG MOMENTUM Liège, Belgium, May 20, 2022 EVS, global leader in live video technology for broadcast and new media productions, today announces its business update for the first quarter ending 31 March 2022. HIGHLIGHTS The secured revenue* at end of March 2022 is at EUR 91,0 million Secured revenue excluding Big Event Rental is at EUR 81.8 million versus EUR 54.1 million at the same date last year, a growth of +51,2%Secured revenue for Big Event Rental is set at EUR 9.2 millionOrder intake for 2022 demonstrating important wins across the worldMediaInfra performance underlining success of past acquisition (Axon)Gross margin evolves according to expectations and operational expenses remain in line with the full year guidance set forward *secured revenue, formally reported as booked revenue, includes the already recognized revenue as well as open orders on hand that will be recognized as revenue in 2022 COMMENTS Serge Van Herck, CEO comments the b

Cool Company Ltd. – Mandatory Notification Of Trade20.5.2022 16:27:38 CEST | Press release

EPS Ventures Ltd., close associate of Cyril Ducau, Chair of the Board of Cool Company Ltd. (the “Company”), has on 16 May 2022 acquired 15,028 shares and on 19 May 2022 acquired 1,394 shares in the Company at a price of NOK 88.00 per share. Following the transaction, EPS Ventures Ltd. holds a total of 15,054,841 shares in the Company, equivalent to 37.63% of the Company’s shares. Please see attached notification form in accordance with the Market Abuse Regulation article 19. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Attachment Primary insider notification forms


Anbudsförfarande kommuner och regioner, 2022-05-24BondsFixed rate notes issued in SEK by Municipalities or Regions with maturity in: 2025 The following issuers are accepted for delivery: JÖNKÖPINGS KOMMUN SKÅNE LÄNS LANDSTING NACKA KOMMUN VELLINGE KOMMUN VÄSTERÅS KOMMUN HUDDINGE KOMMUN BORÅS KOMMUN HELSINGBORGS KOMMUN STOCKHOLMS LÄNS LANDSTING STOCKHOLMS KOMMUN GÖTEBORGS KOMMUN MALMÖ KOMMUN Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after: 2022-05-13BidsBids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to Bid date2022-05-24Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SEK 500 +/- 500 millionHighest permitted bid volume (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not e


Bid procedure, 2022-05-27BondsSWEDISH GOVERNMENT: 1056. SE0004517290. 2032-06-01 SWEDISH GOVERNMENT: 1059, SE0007125927, 2026-11-12 Bid date2022-05-27Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)1056: 750 mln SEK +/-400 mln SEK 1059: 750 mln SEK +/-400 mln SEK Highest permitted bid volume (corresponding nominal amount)1056: 750 mln SEK per bid 1059: 750 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2022-05-31Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-05-20 This is a translation of the special terms and conditions published on In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions c