on GENSIGHT BIOLOGICS S.A. (EPA:SIGHT)
GenSight Biologics Renegotiates Financial Obligations and Provides Operational Updates
Paris, France, June 20, 2024, 7:30 am CEST – GenSight Biologics, a biopharma company focused on gene therapies for retinal neurodegenerative diseases, announced the renegotiation of certain financial obligations enhancing its financial position. Additionally, operational updates were provided.
Following two successful capital increases in early 2024, GenSight engaged in discussions with creditors, resulting in new terms and conditions for its obligations. CEO Laurence Rodriguez stated this would provide the company with added operating flexibility.
The firm and its creditor banks agreed to extend the maturity of state-guaranteed loans until December 2024, implementing a gradual payment schedule. Similarly, terms for convertible bonds with Heights Capital were adjusted, resuming payments through new share issues starting June 28, 2024.
Operationally, GenSight remains on track to resume the early access program for LUMEVOQ® in France in Q3 2024. Additionally, the company is advancing feasibility studies for the global Phase III RECOVER study and continuing follow-up on its GS030 treatment for Retinitis Pigmentosa.
R. H.
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