GenSight Biologics Extends Cash Runway, Awaits AAC Program Resumption

GenSight Biologics (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, has reported its estimated full-year 2024 consolidated financial results. The company has implemented strategic initiatives to reduce its monthly burn rate and extend its cash runway, with positive outcomes thus far.

GenSight Biologics' financial performance has evolved significantly over the past year, with notable trends in revenue streams and expenses. The company's revenue streams have seen a decrease, primarily due to the absence of revenue from named Patient Temporary Use Authorizations (ATU) for LUMEVOQ®, as the last available doses had been used up by March 2022. Additionally, the company has generated research tax credit (Crédit d'Impôt Recherche) amounting to €0.6 million in the first half of 2024, compared to €1.2 million in the same period in 2023, reflecting a reduction in clinical development expenses for LUMEVOQ®.

To reduce its monthly burn rate and extend its cash runway, GenSight Biologics has implemented several strategic initiatives. These include optimized cash management, renegotiation of financial obligations, reduction in R&D spending, and termination of commercial launch activities. These measures have been effective in reducing the monthly burn rate to €1.2 million, a 60% reduction compared to the same period in 2023, and extending the cash runway to mid-November 2024 based on current operations. There is potential for further extension to Q3 2025 if the Early Access (AAC) Program resumes as expected in the autumn.

The restart of the Early Access (AAC) Program for LUMEVOQ® is expected to generate proceeds for GenSight Biologics from November 2024 onwards. This program is anticipated to resume in the autumn of 2024, which could extend the company's cash runway into Q3 2025. The proceeds from this program are expected to contribute to the company's financial situation, although the exact amount has not been specified in the provided materials.



In conclusion, GenSight Biologics has successfully implemented strategic initiatives to reduce its monthly burn rate and extend its cash runway. The company's financial performance has evolved over the past year, with notable trends in revenue streams and expenses. The restart of the Early Access (AAC) Program is expected to generate proceeds for the company, further contributing to its financial situation. Investors should closely monitor the company's progress and the potential impact of the AAC program on its cash runway.