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Sensorion reports its 2019 first half results
Regulatory News:
Sensorion (Paris:ALSEN) (FR0012596468 – ALSEN), a pioneering clinical-stage biopharmaceutical company which specializes in the development of novel therapies to restore, treat and prevent inner ear diseases such as hearing loss, tinnitus and vertigo, today announces its interim annual results at June 30 2019 and its outlook for 2019.
«The signature of a framework agreement with Institut Pasteur in gene therapy marks an inflection point in Sensorion’s expansion trajectory. This partnership reinforces our pipeline, our long-term development potential and confirms the company as a leading platform in the field. We were also pleased to welcome new long term and strategic investors in the two financing operations of June and September. After the capital increase at the end of September, we estimate that cash in hand will carry us through the middle of the first quarter of 2021.
We continue to build up one of the richest pipelines in the inner ear domain, with two programs in phase 2 accompanied by the new portfolio of gene therapies. We expect SENS-111 phase 2 clinical results before year end; Sensorion has a promising pipeline allowing us to develop therapeutic solutions to restore, prevent and treat inner ear disorders» , comments Nawal Ouzren, CEO of Sensorion.
First-half 2019 financial results
The half-year accounts at June 30 2019, drawn up according to IFRS standards and approved by the Board of Directors on October 30 2019, have been duly reviewed by statutory auditors.
The simplified income statement at June 30 2019 is as follows:
|
In Euros –IFRS standards |
31.06.2019 |
31.06.2018 |
|
Operating income |
1,042,407 |
1,299,199 |
|
Research and Development expenses |
5,226,883 |
5,849,636 |
|
General and Administrative expenses |
1,257,185 |
1,542,860 |
|
Total operating expenses |
6,484,068 |
7,392,496 |
|
Operating profit/loss |
-5,441,662 |
-6,093,297 |
|
Financial profit/loss |
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