Brief: Gensight Biologics Reports FY Net Loss Up At -26.2 Million euros

Gensight Biologics SA

22/03/2024 17:19

March 22 (Reuters) - Gensight Biologics SA  SIGHT.PA :
Reports Full Year 2023 Consolidated Financial Results
    * EFFORTS TO REDUCE OPERATIONAL EXPENSES CONFIRMING CASH
RUNWAY
UNTIL END OF APRIL 2024
    * ACTIVE DISCUSSIONS REGARDING A NEW FINANCING AND STRATEGIC
OPTIONS, INCLUDING POTENTIAL PARTNERSHIP OPPORTUNITIES
    * OPERATING LOSS AMOUNTED TO EUR (29.7) MILLION IN 2023
COMPARED
TO EUR (27.8) MILLION IN 2022
    * COMPANY DOES NOT HAVE SUFFICIENT NET WORKING CAPITAL
REQUIRED TO
MEET ITS OBLIGATIONS OVER NEXT 12 MONTHS BUT ONLY UNTIL END OF
APRIL 2024
    * WILL REPORT ITS CASH POSITION AS OF MARCH 31, 2024 ON
APRIL 4
2024
    * CASH AND CASH EQUIVALENTS EUR 2.1 MILLION AS OF DEC 31,
2023,
VERSUS EUR 10.6 MILLION AS OF DEC 31, 2022
    * NET FUNDING REQUIREMENT FOR NEXT 12 MONTHS IS ESTIMATED AT
EUR 9
MILLION
    * EPS EUR -0.54
    * NET INCOME EUR -26.2 MILLION

Source text for Eikon:  ID:nBw5rdmZCa 
Further company coverage:  SIGHT.PA 

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