Business & Finance
GenSight Biologics provides update on cash position and operations
19 January 2021 -

Biopharma company GenSight Biologics (Paris:SIGHT) (Euronext:SIGHT) (ISIN:FR0013183985) on Monday announced its cash and cash equivalents of EUR37.9m as of 31 December 2020 and will report its cash position as of 31 March 2021 on 20 April 2021.

This marks an improvement when compared with cash and cash equivalents of EUR18.1m as of 30 September 2020.

As of 31 December 12020, the company has reported 40,875,965 outstanding ordinary shares.

The company stated that in the fourth quarter of 2020, its operating cash burn reflects the conduct of the REFLECT Phase III clinical trial of LUMEVOQ in the treatment of Leber Hereditary Optic Neuropathy, as well as the PIONEER Phase I/II trial of GS030 in the treatment of Retinitis Pigmentosa. The operating cash burn was more than offset by the net proceeds from the EUR25m private placement in October.

GenSight Biologics generated revenues from the sale of LUMEVOQ under a Temporary Authorization for Use (ATU) in France of EUR2.1m and to a total of EUR5.6m in 2020 despite a very limited access of patients to hospitals due to the COVID-19 crisis.