Brief: GenSight Biologics H1 Operating Income Down At EUR 2.7 Mln

Gensight Biologics SA

15/09/2023 16:51

Sept 15 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * CASH RUNWAY EXTENDED THROUGH OCTOBER 2023 WITH THE 1ST
TRANCHE
OF A €10 MILLION FINANCING IN AUGUST, AND TO DECEMBER 2023 WITH
DRAWING DOWN THE 2ND TRANCHE EXPECTED IN OCTOBER
    * OPERATING EXPENSES SIGNIFICANTLY REDUCED GOING FORWARD,
LIMITING
FINANCING NEEDS IN 2024
    * H1 OPERATING INCOME DECREASED BY 36.1% TO €2.7 MILLION
FROM €4.3
MILLION OVER THE PERIOD
    * H1 THE COMPANY’S OPERATING INCOME DECREASED BY 36.1% TO
€2.7
MILLION
    * LOSS FOR THE FIRST HALF OF 2023 AMOUNTED TO €(12.0)
MILLION
COMPARED TO €(10.7) MILLION IN THE FIRST HALF OF 2022
    * AS OF TODAY, THE COMPANY IS FINANCED THROUGH OCTOBER 2023.
    * IS ADVANCING A NUMBER OF DISCUSSIONS WITH POTENTIAL
PARTNERS ON
STRATEGIC OPPORTUNITIES, INCLUDING A MERGER OR ACQUISITION,
ASSESSED AS ONE OF THE OPTIONS TO MOVE FORWARD.

Source text for Eikon:  ID:nBwc5B6DVa 
Further company coverage:  SIGHT.PA 

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