(AOF) – Gensight Biologics announces that its cash flow horizon has been extended from mid-January to mid-February 2024. The biotech specializing in innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders emphasizes that it has ” continued the search for measures aimed at preserving its cash flow, in particular additional savings” since the offer of 4.7 million euros announced in November.
Gensight Biologics adds that scientific advice confirms that the UK MHRA “may accept” an application for marketing authorization for Lumevoq based on the most recent clinical data from the studies. The biotech plans to submit an application for marketing authorization in the United Kingdom during the second half of 2024, with the aim of a decision in the second half of 2024.
AOF – LEARN MORE
Learn more about the Pharmacy sector
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.