Brief: Gensight Biologics FY Net Loss Widens To EUR 34.0 Mln

Gensight Biologics SA

10/03/2021 07:11

March 10 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * FY NET LOSS -34 MILLION EUR VERSUS -30.9 MILLION EUR LOSS
YEAR
AGO
    * FY REVENUE 4.4 MILLION EUR VERSUS 700,000 EUR YEAR AGO
    * SUCCESSFUL REFINANCING IN 2020 SECURES END OF 2022 Q1
RUNWAY
    * RAMP UP OF SALES & MARKETING IN PREPARATION OF EXPECTED
COMMERCIAL LAUNCH OF LUMEVOQ IN EUROPE EARLY 2022
    * WE CONTINUE TO PREPARE FOR FILING OF LUMEVOQ BIOLOGICS
LICENSE
APPLICATION WITH U.S. FOOD AND DRUG ADMINISTRATION DURING SECOND
HALF OF 2021, ANTICIPATING DATA FROM REFLECT US PIVOTAL CLINICAL
TRIAL IN Q2 2021
    * COMPANY'S OPERATING INCOME SIGNIFICANTLY INCREASED BY
51.5% TO
EUR 7.4 MILLION IN 2020 FROM EUR 4.9 MILLION IN 2019
    * FY OPERATING LOSS EUR 24.9 MLN VERSUS LOSS OF EUR 30.3
MILLION
YEAR AGO
    * OPERATING LOSS SIGNIFICANTLY IMPROVED BY REDUCING RESEARCH
AND
DEVELOPMENT EXPENSES AND GENERATING REVENUES FROM LUMEVOQ ATU IN
FRANCE
    * REFLECT PHASE III CLINICAL TRIAL OF LUMEVOQ IS EXPECTED TO
READ
OUT AT 78 WEEKS IN Q2 OF 2021.
    * PIONEER PHASE I/II CLINICAL TRIAL OF GS030: EXPECTS TO
REPORT
EARLY FINDINGS IN Q2, MORE PRELIMINARY RESULTS LATER IN H2
    * GENSIGHT BIOLOGICS CONTINUES TO EXPECT LUMEVOQ TO RECEIVE
AN
OPINION FROM EMA IN Q4 2021
    * CASH AND CASH EQUIVALENTS TOTALED EUR 37.9 MILLION AS OF
DECEMBER 31, 2020

Source text for Eikon:  ID:nBw9skHska 
Further company coverage:  SIGHT.PA 

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