GenSight Biologics (SIGHT) Q4 2024 TU earnings summary

Executive summary

• Cash and cash equivalents stood at €2.5 million as of December 31, 2024, down from €3.4 million on September 30, 2024.

• Recent capital increases in late 2024 raised €2.8 million and €1.5 million, providing operational flexibility until the expected resumption of the early access program in February 2025.

• Regulatory review of LUMEVOQ® by the French ANSM is ongoing, with responses to agency questions submitted in January 2025.

• Preparations for the new Phase III RECOVER trial and a planned submission to the UK's MHRA are underway.

Financial highlights

• Cash position decreased by €0.9 million quarter-over-quarter, reflecting ongoing operational expenses.

• Capital increases in November and December 2024 provided a total of €4.3 million in gross proceeds.

• Outstanding shares totaled 124,774,445 as of December 31, 2024.

Outlook and guidance

• Sufficient working capital is expected until late February 2025, with further liquidity dependent on the resumption of the early access program.

• If AAC indemnities resume as planned, net working capital should cover obligations for the next 12 months.

• Annual rebates on the 2025 AAC program, due in November 2026, may require additional financing or strategic transactions before H2 2026.