Brief: Gensight Biologics End-Dec Cash Position At EUR 10.6 Mln

Gensight Biologics SA

26/01/2023 06:38

Jan 26 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * GENSIGHT BIOLOGICS REPORTS CASH POSITION AS OF DECEMBER
31,
2022, FY 2022 REVENUES AND PROVIDES BUSINESS UPDATE
    * GENSIGHT BIOLOGICS' CASH AND CASH EQUIVALENTS TOTALLED EUR
10.6
MILLION AS OF DECEMBER 31, 2022, COMPARED TO EUR 13.9 MILLION AS
OF SEPTEMBER 30, 2022
    * COMPANY WILL HAVE SUFFICIENT NET WORKING CAPITAL TO MEET
ITS
FINANCIAL OBLIGATIONS UNTIL MAY 2023
    * WITH ADDITION OF EUR 12 MILLION FROM EIB TRANCHE B,
EXPECTED IN
Q2 2023, COMPANY WOULD EXTEND ITS FINANCIAL VISIBILITY TO EARLY
2024
    * COMPANY EXPECTS TO SEEK OTHER SOURCES OF DEBT OR EQUITY
FINANCING STARTING IN 2023 TO SUPPLEMENT ITS WORKING CAPITAL
NEEDS AND FINANCE ITS OPERATING EXPENSES FOR 2024

Source text for Eikon:  ID:nBw8Vy4zla 
Further company coverage:  SIGHT.PA 
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