GenSight Biologics Secures €0.9 Million Financing from Existing Investors

GenSight Biologics, a biopharmaceutical company specializing in gene therapies for retinal and central nervous system disorders, has announced a new financing round of approximately €0.9 million. This funding, exclusively from existing investors, involves the issuance of new shares with attached warrants. The subscription price per share is set at €0.2248.

The funding supports GenSight's commitment to resuming its compassionate access program in France, despite delays. As of December 31, 2024, GenSight reported a 11.4% drop in operating income and a net loss of €14 million for the year. However, with this financing and tax credits, the company anticipates sufficient working capital until May 2025, when first payments from the resumed access program are expected.

This strategic move underscores investor confidence in GenSight's potential and paves the way for advancements in their gene therapy initiatives. The financing highlights the market's recognition of the company's innovations, as well as its ongoing financial challenges.