GeNeuro

Financial Information and Business Update for the Third Quarter 2020

Regulatory News:

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

2020 Third-quarter financial information

At September 30, 2020, GeNeuro had €8.6 million in cash. As announced in the interim financial report for the six months ended June 30, 2020, the available cash resources provide GeNeuro with financial visibility until mid-2022, covering all planned activities.

The cash consumption related to GeNeuro’s operating and investing activities in Q3 2020 was €2.0 million, in line with the average of the first six months and slightly down from €2.2 million for the same period of 2019. The Q3 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 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.
• On September 14, 2020, GeNeuro announced a presentation by Professor Fredrik Piehl of the Karolinska Institutet’s Academic Specialist Center (ASC) at MSVirtual2020 (8th Joint ACTRIMS-ECTRIMS Meeting), which provided the rationale and outline on the Phase 2 ProTEct-MS clinical study of temelimab initiated earlier this year. Long-term clinical study data has shown that temelimab, GeNeuro’s lead compound under clinical development, has a remarkably consistent neuroprotective effect on key MRI measures linked to MS disease progression. As approximately 80% of MS patients are affected by an increase of disability over time despite the availability of highly effective drugs against inflammatory activity and relapses, temelimab may be able to address this critical unmet medical need of blocking disability progression independent of relapse activity.

Next financial events:

MidCap Event: October 20, 2020 – Paris, France
Bryan Garnier Healthcare Conference: November 16-17, Paris, France

About GeNeuro

GeNeuro‘s mission is to develop safe and effective treatments against neurological disorders and autoimmune diseases, such as multiple sclerosis, by neutralizing causal factors encoded by HERVs, which represent 8% of human DNA.

GeNeuro is based in Geneva, Switzerland and has R&D facilities in Lyon, France. It has rights to 17 patent families protecting its technology.

For more information, visit: www.geneuro.com

Disclaimer

This press release contains certain forward - looking statements and estimates concerning GeNeuro’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words, such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of GeNeuro or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and GeNeuro undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.

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