GenSight Biologics (SIGHT) Q3 2024 TU earnings summary

Executive summary

• Cash position at €3.4 million as of September 30, 2024, down from €6.9 million at June 30, 2024.

• LUMEVOQ® drug product passed all quality control tests; first patient injection expected by end of December 2024.

• Advanced discussions ongoing to secure bridge financing until AAC program resumes.

Financial highlights

• Cash and cash equivalents decreased by €3.5 million quarter-over-quarter.

• Current cash runway only extends to mid-November 2024 without additional financing.

• Expected AAC program payments between late December 2024 and early January 2025 to extend runway to Q4 2026.

Outlook and guidance

• Submission to ANSM for AAC resumption scheduled for mid-November 2024.

• First patient injection and initial AAC payment anticipated by end of December 2024 or early January 2025.

• Company expects to secure short-term financing to bridge the gap until AAC payments begin.