(CercleFinance.com) – Genomic Vision announced on Friday that it had declared cessation of payments to the Nanterre Commercial Court, to which it had also requested the opening of a judicial recovery procedure.
The specialist in genomic analysis explains that it is no longer able to cover its cash flow needs given the fall in its stock price and the liquidity of its shares on the market.
The group adds that it does not have sufficient available resources to meet its liabilities.
The stock fell sharply last month after the presentation of financial resources barely sufficient to allow it to finance its activities until the end of October.
This announcement followed the publication of a net loss of 6.4 million euros at the end of the first half of the year.
In a financial notice, Genomic specifies that the Nanterre Commercial Court must rule on its request during a hearing scheduled for November 15, 2023.
If the courts were to accept his request, the operation of the company would then continue during the observation period, the duration of which will be set by the court.
The court could, however, choose to open judicial liquidation proceedings if it were to consider that the financing of an observation period was not assured.
Consequently, its stock price has been suspended since this morning on the Paris Stock Exchange, until further notice.