Brief: Geneuro 2022 Operating Loss Widens To EUR 11.23 Mln

Geneuro SA

05/04/2023 06:50

April 5 (Reuters) - Geneuro Sa  GNRO.PA :
    * 2022 CASH CONSUMPTION WAS EUR 13.1 MILLION IN 2022
COMPARED TO
EUR 6.8 MILLION IN 2021
    * 2022 NET LOSS EUR 12.2 MILLION VERSUS LOSS EUR 6.82
MILLION IN
2021 
    * GENEURO REPORTS 2022 FULL-YEAR RESULTS AND PROVIDES
CORPORATE
UPDATE
    * CASH POSITION OF EUR 5.6M AS OF DECEMBER 31, 2022
    * GNC-501 TRIAL WELL UNDERWAY IN SWITZERLAND AND GENEURO IS
ALREADY VERY PLEASED TO OBSERVE THAT W-ENV POSITIVITY RATE IN
PATIENTS SCREENED IN TRIAL IS WITHIN 25-30% RANGE MEASURED IN
OBSERVATIONAL STUDIES BEFORE TRIAL
    * WITH 7 MILLION EUROS DRAWN DOWN FROM FIRST TRANCHE OF EIB
LOAN
COMPLEMENTING OUR EXISTING CASH BALANCE, GENEURO HAS OPERATING
CAPITAL INTO 3Q 2024 (CFO)
    * GNC-501: COMPANY NOW EXPECTS FIRST RESULTS FROM STUDY TO
BE
AVAILABLE BETWEEN 1Q AND 2Q 2024
    * DUE TO ITS DEVELOPMENT STAGE, COMPANY GENERATED NO INCOME
IN
2021 OR 2022
    * RESEARCH & DEVELOPMENT EXPENSES INCREASED BY EUR 5
MILLION, OR
101%, IN 2022 COMPARED TO 2021
    * GENERAL AND ADMINISTRATIVE EXPENSES INCREASED BY EUR 0.6
MILLION, OR 21%, IN 2022
    * PRIORITIES 2023: COMPLETION OF PATIENT RECRUITMENT FOR
6-MONTH
TREATMENT LONG-COVID TRIAL AND ITS ADVANCEMENT TOWARDS
COMPLETION
    * AS FOR ALS, GENEURO CONTINUES TO SEEK SPECIFIC FUNDING FOR
THIS
PROGRAM, WHICH WOULD ALLOW TO BRING THIS PROJECT TO AN IND
WITHIN 12-18 MONTHS.
    * CASH CONSUMPTION IS EXPECTED TO DECREASE SIGNIFICANTLY
DURING
2023
    * 2022 OPERATING LOSS EUR 11.23 MILLION VERSUS LOSS EUR 6.37
MILLION YEAR AGO

Source text for Eikon:  ID:nBw43tWgCa 
Further company coverage:  GNRO.PA 

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