Brief: Gensight Biologics In Discussions To Secure Financing From End of April to Q3 2024

Gensight Biologics SA

04/04/2024 18:28

April 4 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * CASH AND CASH EQUIVALENTS TOTALLED €2.2 MILLION AS OF
MARCH 31,
2024, COMPARED TO €2.1 MILLION AS OF DECEMBER 31, 2023
    * DOES NOT HAVE SUFFICIENT NET WORKING CAPITAL TO MEET ITS
OBLIGATIONS OVER THE NEXT 12 MONTHS BUT ONLY UNTIL END OF APRIL
2024
    * IS CURRENTLY ENGAGED IN ACTIVE DISCUSSIONS TO SECURE
FINANCING
FOR ITS ACTIVITIES FROM END OF APRIL 2024 TO Q3 2024
    * ONCE THE AAC/AAP PROGRAM RESUMES, THE COMPANY ESTIMATES
THAT THE
CASH RUNWAY WOULD BE EXTENDED TO THE END OF Q1 2025
    * THE NET FUNDING REQUIREMENT FOR THE NEXT 12 MONTHS IS
ESTIMATED
AT €9 MILLION
    * , IS ALSO ADVANCING ON A NUMBER OF DISCUSSIONS WITH
POTENTIAL
PARTNERS ON STRATEGIC OPPORTUNITIES, INCLUDING A POSSIBLE
MERGER, ACQUISITION OR LICENSING DEAL

Source text: https://tinyurl.com/597k7apd
Further company coverage:  SIGHT.PA 

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