(Boursier.com) — GenSight whose cash flow situation was particularly tense, has just completed a capital increase of 5 million euros subscribed by existing shareholders (Sofinnova Partners, Invus, UPMC Enterprises) and Heights Capital.
“Combined with our cost reduction strategy, this funding of 5 million euros, provided for in our plans, makes it possible to secure the resumption of our compassionate use program in the 3rd quarter of 2024 and to continue the preparatory work for the study phase III RECOVER of LUMEVOQ” declared Laurence Rodriguez, General Director of GenSight.
The capital increase takes the form of the issue of 13,061,651 new shares at 0.3828 Euro.
Despite everything, the company does not have sufficient net working capital to meet its obligations over the next 12 months, but only until the end of next April. Consequently, the net working capital requirement for the next 12 months is estimated at €9 million, including the proceeds from the resumption of the AAC/AAP program in France, taking into account the need for the company to finance its activities. underway, including the launch of the new phase III RECOVER clinical trial.
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