(AOF) – Gensight Biologics posts an operating loss of 29.7 million euros in 2023 compared to 27.8 million euros in 2022. This increase of 1.9 million euros is mainly linked on the one hand to a decrease of 1.9 million euros in operating income. “On the other hand, it is linked to the increase of 4 million euros in non-cash expenses linked to share-based payments, going from a product of 3.4 million euros in 2022 due to the cancellation of certain free share plans at a charge of 0.5 million euros in 2023″, explains the biopharmaceutical company.
The group’s net loss amounted to 27.6 million euros in 2022 compared to a loss of 26.2 million euros in 2023. The weighted average number of shares in circulation increased by 46.3 million in 2022 to 48.3 million in 2023, thus reducing the loss per share by 10% to 0.54 euros in 2023 compared to 0.60 euros in 2022.
In addition, the variation in the company’s operating income, from 4.9 million euros as of December 31, 2022 to 3 million euros as of December 31, 2023, is mainly attributable to the absence of income in 2023 under Temporary Use Authorizations. registered names for Lumevoq granted by the National Medicines Safety Agency (ANSM).
As of December 31, 2023, the company’s available cash flow amounts to €2.1 million.
Including the net proceeds from the capital increase carried out in February 2024 for a gross amount of 5 million euros, it does not have sufficient liquidity to meet its obligations over the next 12 months, but only until at the end of April 2024.
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