Brief: Sensorion H1 Operating Loss Narrows To 4.7 Million Euros

Sensorion SA

21/10/2020 06:50

Oct 21 (Reuters) - Sensorion SA  ALSEN.PA :
    * H1 NET LOSS -4.7 MILLION EUR
    * FINANCIAL POSITION STRENGTHENED WITH EUR 31M (US$36.5M)
CAPITAL
RAISE IN SEPTEMBER 2020
    * CASH RUNWAY NOW EXTENDED TO H2 2022
    * REGARDING PATIENTS ALREADY IN SENS-401 PHASE 2 STUDY,
THERE IS A
RISK THAT IT MIGHT BE IMPOSSIBLE FOR SOME OF THESE SUBJECTS TO
COMPLETE FOLLOW-UP VISITS AS PLANNED IN STUDY PROTOCOL
    * OPERATING LOSSES ON JUNE 30, 2020 THUS AMOUNTED TO EUR
4.7M,
COMPARED WITH A LOSS OF EUR 5.4M ON JUNE 30, 2019
    * OBSERVED A NEGATIVE IMPACT ON RECRUITMENT FOR SENS-401
PHASE 2
TRIAL IN SSNHL DURING SPREAD OF COVID-19, WHICH STARTED IN Q1
    * LOCAL RESTRICTIONS OF POPULATIONS OR ADDITIONAL
GOVERNMENTAL
MEASURES COULD IMPACT FUTURE RECRUITMENT OF PATIENTS IN SITES
PARTICIPATING IN ONGOING PHASE 2 CLINICAL STUDY
    * OPERATING EXPENSES DECREASED BY 14%, DOWN FROM EUR 6.5M ON
JUNE
30, 2019 TO EUR 5.6M ON JUNE 30, 2020
    * EXPECTS PHASE II READOUT FROM SENS-401 CLINICAL STUDY IN
SSNHL
IN MID-2021
    * INTENDS TO USE NET PROCEEDS FROM RESERVED OFFERING TO
DEVELOP
CURRENT GENE THERAPY PROGRAMS, POTENTIALLY BROADEN ITS GENE
THERAPY PIPELINE
    * PANDEMIC MIGHT ALSO CAUSE DELAYS IN REALIZATION OF
PRECLINICAL
GENE THERAPY STUDIES CARRIED OUT AS PART OF COLLABORATION WITH
INSTITUT PASTEUR

Source text for Eikon:  ID:nBw6QL8vVa 
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