PARIS--(BUSINESS WIRE)--Regulatory News:
GenSight Biologics (Paris:SIGHT) (Euronext:SIGHT, FR0013183985, PEA-PME eligible), a biopharma company that discovers and develops innovative gene therapies for neurodegenerative retinal diseases and diseases of the central nervous system, today reported its cash position as of September 30, 2016.
Thomas Gidoin, Chief Financial Officer of GenSight Biologics, commented, “The successful €45 million global offering conducted in July this year, in the context of our IPO on Euronext Paris, considerably strengthens our cash position, and allows us to complete the development of GS010, while entering GS030 in the clinic.”
Cash and cash equivalents
GenSight Biologics’ cash and cash equivalents amounted to €57.8 million as of September 30, 2016, compared to €19.1 million as of June 30, 2016.
Number of outstanding shares
As of September 30, 2016, GenSight Biologics’ number of outstanding shares was 19,264,981 ordinary shares.
GenSight Biologics will report its cash position as of December 31, 2016 on January 26, 2017.
About GenSight Biologics
GenSight Biologics S.A. is a clinical-stage biotechnology company discovering and developing novel therapies for neurodegenerative retinal diseases and diseases of the central nervous system. GenSight Biologics’ pipeline leverages two core technology platforms, Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from severe degenerative retinal diseases. GenSight Biologics’ lead product candidate, GS010, is in Phase III trials in Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible vision loss in teens and young adults. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to offer patients a sustainable functional visual recovery with a single treatment to each eye through an intravitreal injection.