PARIS--(BUSINESS WIRE)--Regulatory News:
GenSight Biologics (Paris:SIGHT) (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible), a biopharma company focused on discovering and developing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today reported its cash position as of March 31, 2019.
Cash and cash equivalents
GenSight Biologics’ cash and cash equivalents was €24.0 million as of March 31, 2019, compared to €26.2 million as of December 31, 2018.
The acceleration of cash burn from the last quarter of 2018 onwards principally reflects the final steps of pharmaceutical development for GS010, in preparation for a marketing authorization filing in Europe. The Company expects to be in a position to file at the end of 2019.
The cash burn was partly offset by the net proceeds from the €8 million capital increase subscribed by Sofinnova in February 2019.
Number of outstanding shares
As of March 31, 2019, GenSight Biologics’ number of outstanding shares was 28,724,541 ordinary shares.
GenSight Biologics will report its cash position and interim financial statements as of June 30, 2019 on July 24, 2019.
About GenSight Biologics
GenSight Biologics S.A. is a clinical-stage biopharma company focused on discovering and developing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics’ pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics to help preserve or restore vision in patients suffering from blinding retinal diseases. GenSight Biologics’ lead product candidate, GS010, is in Phase III trials in Leber Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible blindness in teens and young adults. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to be administered in a single treatment to each eye by intravitreal injection to offer patients a sustainable functional visual recovery.