(AOF) – GenSight Biologics sees its cash flow horizon extended until October 2023 thanks to the 1st tranche of financing of 10 million euros in August, and until December 2023 with the drawing of the 2nd tranche expected in october. The biotech specialist in innovative gene therapies against retinal neurodegenerative diseases and central nervous system disorders announces cash and cash equivalents of 1 million euros at the end of the first half.
The net loss reached 12 million euros compared to -10.7 million a year ago. Operating income was negative at 17.1 million compared to -12 million a year ago.
“We are encouraged by the confidence of our investors, again reflected in the financing we secured in August,” commented Thomas Gidoin, Chief Financial Officer of GenSight Biologics. “Having overcome the challenges at the start of the year, we are now focused on manufacturing GMP batches of Lumevoq, which will allow us to resume early access programs and progress towards commercialization.”
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