GeNeuro

Financial Information and Business Update for the Second Quarter 2020

Regulatory News:

GeNeuro (Paris:GNRO) (Euronext Paris: CH0308403085 - GNRO), a biopharmaceutical company developing new treatments for neurodegenerative and autoimmune diseases, such as multiple sclerosis (MS), today reported on its 2020 second quarter cash position and issued a business update.

2020 Second-quarter financial information

At June 30, 2020, GeNeuro had €10.5 million in cash. The available cash resources provide GeNeuro with solid visibility until mid-2022 in terms of financing all its planned activities.

The cash consumption related to GeNeuro’s operating and investing activities in Q2 2020 was

€1.3 million, compared to €3.3 million for the first quarter of 2020 and €3.3 million for the same period of 2019. The Q2 2020 cash consumption was in line with the Company’s expectations; full-year cash consumption remains estimated at approximately €8.0 million, compared to €10.5 million in 2019.

Key developments during the quarter

• On May 1, 2020, Prof. David Leppert, MD and Professor of Neurology, started as Chief Medical Officer of GeNeuro. Dr. Leppert is a recognized expert in the worldwide neurology community, having developed pioneering research and worked for over 20 years in clinical development. He successfully led the development of prominent drugs, such as ocrelizumab (Ocrevus), to treat MS while at Roche, and then led the development of all neurology clinical trials at Novartis. Dr. Leppert is currently Associate Professor in Neurology at University of Basel, and will retain his academic position.

• On June 25, 2020, GeNeuro announced the inclusion of the first patient in its Phase 2 trial of temelimab in MS at the Karolinska Institutet’s Academic Specialist Center (ASC), in Stockholm, Sweden. The start of this Phase 2 trial had been postponed due to the COVID-19 pandemic to safeguard the wellbeing of MS patients and to prioritize treatment of COVID-19 patients. Thanks to the Karolinska Institutet, the trial resumed promptly after the situation allowed. Results remain on track for reporting in the second half of 2021.

Post-period highlights

• On July 21, 2020, GeNeuro announced the publication in Science Advances of data from a translation study, carried out by a pre-eminent consortium of academic institutes, under the auspices of Fondation FondaMental, establishing a clear link between human endogenous retroviral proteins and psychotic disorders. GeNeuro’s contribution to the study consisted of providing new antibodies that neutralize the HERV-Env protein identified by the consortium’s research work. The study is available here.

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