Brief: GeNeuro FY Net Loss Widens To 9.5 Million Euros

Geneuro SA

07/04/2020 06:50

April 7 (Reuters) - GENEURO SA  GNRO.PA :
    * GENEURO REPORTS 2019 FULL-YEAR RESULTS AND PROVIDES
CORPORATE
UPDATE
    * COMPANY'S OPERATIONS FUNDED UNTIL MID-2022
    * 2019 STRONG FINANCIAL VISIBILITY, WITH CASH POSITION OF
EUR 15
MILLION PRO FORMA, INCLUDING NET PROCEEDS FROM JANUARY 2020
CAPITAL INCREASE
    * BROADENING PIPELINE WITH PRECLINICAL DEVELOPMENT OF NEW
ANTIBODY
AGAINST AMYOTROPHIC LATERAL SCLEROSIS, AIMING TO START CLINICAL
STUDIES IN 2021
    * FY OPERATING LOSS EUR 9.0 MILLION VERSUS LOSS OF EUR 8.1
MILLION
YEAR AGO
    * NO INCOME WAS RECOGNIZED IN 2019 IN ABSENCE OF A NEW
PARTNERSHIP
AGREEMENT
    * FY NET LOSS FOR THE PERIOD EUR 9.5 MILLION VERSUS LOSS OF
EUR
8.3 MILLION YEAR AGO
    * COVID-19 PANDEMIC SITUATION: IMPLEMENTATION OF A BUSINESS
CONTINUITY PLAN AND OF ADAPTED MANAGEMENT MEASURES
    * ON CORONAVIRUS: TO ADVANCE KAROLINSKA TRIAL ONCE COVID-19
SITUATION HAS IMPROVED TO POINT WHERE CLINICAL TRIALS IN MS MAY
BE RESUMED, SEEKING TO COMPLETE RECRUITMENT DURING 2020
    * IT REITERATES RIGOROUS CASH MANAGEMENT, WHICH WILL BE
MAINTAINED
AND STRENGTHENED IN ORDER TO ADAPT TO CURRENT CIRCUMSTANCES
    * FOR FY 2020 SEES CONTINUATION PARTNERSHIP DISCUSSIONS ON
BASIS
OF POSITIVE CHANGE-MS AND ANGEL-MS PHASE 2B CLINICAL TRIAL
RESULTS ON KEY MRI MEASURES OF DISEASE PROGRESSION IN MS
PATIENTS

Source text for Eikon:  ID:nBw9GjtSZa 
Further company coverage:  GNRO.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7785110;))