Brief: Gensight Biologics Cash Runway Confirmed To June 2023

Gensight Biologics SA

24/03/2023 06:41

March 24 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * CASH RUNWAY CONFIRMED TO JUNE 2023
    * EFFORTS TO REDUCE CASH BURN IN 2023 WHILE SECURING LUMEVOQ
MANUFACTURING AND PREPARING FOR COMMERCIAL LAUNCH IN EUROPE IN
H1 2024
    * ADVANCED DISCUSSIONS ON REFINANCING BRIDGE WITH CERTAIN
SHAREHOLDERS ONGOING, TARGETED CLOSING IN COMING WEEKS
    * OPERATING INCOME REDUCED BY 36.9% TO EUR 4.9 MILLION IN
2022
FROM EUR 7.7 MILLION IN 2021
    * CASH AND CASH EQUIVALENTS TOTALED EUR 10.6 MILLION AS OF
DECEMBER 31, 2022
    * COMPANY'S OPERATING LOSS WAS STABLE IN 2022 AMOUNTING TO
EUR
27.8 MILLION COMPARED TO EUR 28.1 MILLION IN 2021
    * FINANCIAL PROFIT IN 2022 AMOUNTED TO EUR 0.2 MILLION
COMPARED TO
A LOSS OF EUR (0.5) MILLION IN 2021
    * COMPANY'S NET LOSS IN 2022 AMOUNTED TO EUR 27.6 MILLION
COMPARED
TO EUR 28.6 MILLION IN 2021
    * COMPANY HAS TAKEN MEASURES AIMED AT REDUCING ITS OPERATING
CASH
BURN IN 2023

Source text for Eikon:  ID:nBw1YH0FZa 
Further company coverage:  SIGHT.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))