GenSight Biologics shows a significantly improved operating loss thanks to the reduction in R&D expenses and the turnover generated by LUMEVOQ’s ATUs in France. It came out at -24.9 ME, against -30.3 ME a year earlier. The net loss is -34 ME, against -30.9 ME in 2019.
The Treasury rose from 19.2 to 37.9 ME in one year.
It should be noted that operating income increased by 51.5% to stand at 7.4 million euros in 2020, compared to 4.9 million euros in 2019. This significant growth mainly reflects revenue generated by LUMEVOQ (GS010) as part of the Temporary Authorization for Use (nominative ATU) granted by the National Medicines Safety Agency at a price of 700,000 euros per patient for a bilateral injection. This turnover amounted to 4.4 million euros in 2020, compared to 0.7 million euros in 2019.
“By reducing our operational cash burn by 46%, while successfully preparing the commercial launch of LUMEVOQ in Europe and securing 34 million euros in funding in 2020, we are entering 2021 on a solid financial basis,” commented Thomas Gidoin. , Administrative and Financial Director of GenSight Biologics. “? We are currently funded until the end of the first quarter of 2022, and will continue to be opportunistic in seeking the optimal conditions to finance the commercial launch of LUMEVOQ in 2022.”
GenSight continues to anticipate an EMA opinion on LUMEVOQ in the fourth quarter of 2021.
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