(AOF) – Geneuro announces the launch of a capital increase for an indicative amount of 5 million euros, with elimination of shareholders’ preferential subscription rights through a private placement reserved for qualified investors. This biotech, whose objective is to stop the progression of neurodegenerative and autoimmune diseases such as multiple sclerosis, announces that as of December 31, 2023, it had 1.8 million euros in cash and equivalents. cash.
Geneuro will use the net proceeds from the offering to secure the completion of the Post-Covid study and extend its financial visibility until the start of the third quarter of 2024. It mainly aims to cover net costs amounting to 6.8 million euros for the end of the Phase II clinical trial in the post-Covid in order to complete the financing of the ongoing Phase 2 study, the results of which are expected in June 2024, and to extend the financial visibility of the company, which downsized, before the offering, at the start of the third quarter of 2024.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.