GenSight Biologics (SIGHT) Q2 2024 TU earnings summary

Executive summary

• Cash position reached €6.9 million as of June 30, 2024, up from €2.1 million at year-end 2023, following a €9.2 million capital raise in May 2024.

• Sufficient working capital secured to meet obligations until early Q4 2024, with potential extension to Q3 2025 if early access program revenues materialize.

• LUMEVOQ® drug product manufacturing successfully completed, with over 100 vials expected for the French early access program pending quality control.

Financial highlights

• Cash position increased to €6.9 million as of June 30, 2024, from €2.1 million at December 31, 2023.

• May 2024 capital raise generated €9.2 million in gross proceeds.

• Quarterly amortization payments on 2022 Convertible Bonds resumed via new share issuance.

Outlook and guidance

• Working capital expected to cover obligations until Q3 2025 if early access program resumes and generates revenue as planned.

• Quality control results for LUMEVOQ® vials anticipated in early September; AAC program could resume in late September 2024 if criteria are met.