GenSight Biologics Reports Interim Financial Results for the First Half of 2020 and Provides Operational Update - Seite 3

General and administrative expenses amounted to €4.0 million and €3.1 million in the first halves of 2020 and 2019, respectively. The variation was mainly related to an increase in share-based compensation expenses, both social contributions and non-cash IFRS2 expenses, based on share price.

The Company’s net loss for the first half of 2020 amounted to €(14.1) million compared to €(17.3) million in the first half of 2019. The loss per share (based on the weighted average number of shares outstanding over the period) amounted to €(0.43) and €(0.63) for the first halves of 2020 and 2019, respectively.

Net cash flows from operating activities in the first halves of 2020 and 2019 were €(6.7) million and €(19.5) million, respectively. This decrease was primarily driven by the reduction of research and development expenses over the period. It was also driven by a significant net change in working capital over the period, generated by both having received the 2019 Research Tax Credit in May 2020, reimbursed in December the year before, as well as an increase in trade payables at the end of June 2020.

Net cash flows from financing activities amounted to €4.4 million in the first half of 2020, primarily as a result of the State-guaranteed loan (Prêt Garanti par l’Etat or PGE) amounting to €6.75 million of which €4.6 million were received in June, and the remainder in July.

Cash and cash equivalents as of June 30, 2020 amounted to €16.8 million.

GenSight Biologics will report on October 20, 2020 its cash position as of September 30, 2020.

Temporary Authorizations for Use (ATU) of LUMEVOQ

Three patients were treated with LUMEVOQ under a Temporary Authorization for Use (ATU) granted by the French National Drug Safety Agency (Agence Nationale de Sécurité du Médicament or ANSM) in December 2019 and January and July 2020. During the acute phase of the COVID-19 pandemic, patients were unable to access hospitals, and both hospitals and the ANSM were focusing their resources on the COVID situation. For the past few weeks, the lockdown being progressively lifted, patients can now get normal access to treatment sites, and as of today, 11 additional ATUs have been requested by the CHNO of the Quinze-Vingts in Paris. In addition, the Company is currently discussing with the ANSM the possibility to broaden individual named patient ATUs to a cohort ATU as soon as feasible to further facilitate access to LUMEVOQ for patients in Europe.