Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Risk of liquidity
• Risk of dependence on development programs
• Risks related to the development by the Company of products requiring costly and highly regulated studies, the number, timing and outcome of which are uncertain and which are prerequisites for any marketing authorization (AMM)
• Risks related to the therapeutic approaches chosen by the Company
• Risks related to research and the conclusion of collaboration or licensing agreements for the development and marketing of its drug candidates
• Risks related to historical losses and projected losses
• Risks related to the competitive environment
• Risks related to uncertain protection of patents and other intellectual property rights
• Risks related to the lack of commercial success of products
• Risks related to the health and economic crisis generated by Covid-19
• Risks related to dependence on key personnel
• Risks of subcontracting default (and in particular those related to the outsourcing of clinical studies and product manufacturing)
• Risks related to liability, in particular product liability
• Risks of shortage of raw materials and key materials necessary for its activities
• Risks related to the regulatory environment
• Risks related to obtaining a marketing authorization (AMM)
• Risks related to the evolution of drug reimbursement policies
• Risks related to the need to retain, attract and retain key personnel and scientific advisors
• Interest rate risk
• Off-balance sheet commitments
• Country risk
• Equity risk
• Dilution risk
• Risks related to access to public subsidies and research tax credits

Mitigation Strategies

• Company's cash on hand should allow it to finance its current operating expenses for the next 4 months without raising new funds.
• Intends to obtain financing from financial markets.
• Intends to continue to benefit from existing public aid, such as the Research Tax Credit.
• Intends to finance mainly through the issuance of new shares until profitability conditions allow financing through debt.
• The plurality of developments minimizes the risk of total failure of the Company's development.
• The Company's current economic model does not provide for AMM applications by the Company itself. Once Phase 2 validation is complete, the Company plans to sell development and production licenses to pharmaceutical laboratories, which will themselves be responsible for submitting AMM applications.
• Partnership strategies, growth and acquisition of new candidates are maintained.
• The Company plans to sign partnership agreements earlier depending on the development, results and prospects of its various projects, mainly on future Phase 2 studies.
• The patent and rights management process has been structured and organized.
• The Company has taken out insurance policies.
• The Company has implemented specific measures in its employment contracts with management personnel, such as non-competition, non-solicitation, intellectual property transfer and confidentiality clauses.
• The Company attaches great importance to the relationship and communication with its subcontractors. Subcontractors are evaluated and subjected to strict audits by regulatory agencies and the Company.
• The Company has taken out insurance policies and will take out the necessary insurance as its products progress.
• The Company has a policy of covering the main insurable risks with guarantee amounts that it considers compatible with its cash flow requirements.
• The Company has implemented a regulatory monitoring system to limit the risk of non-compliance with regulations.
• The Company has implemented measures to protect its employees by establishing strict hygiene procedures and budgetary measures given the uncertainties regarding the scale, duration and possible consequences of the crisis.
• Operations related to strategic research and development programs are maintained while other activities have been postponed.
• The Company plans to recruit a Deputy General Manager in 2021 and two project managers to support Mr. Jean-Claude Maurel.

Supply Chain Management

Climate-Related Risks & Opportunities