BioSenic postpones its annual general meeting of the shareholders and provides temporary non-audited financial figures for 2023

PRESS RELEASE - PRIVILEGED INFORMATION

In view of the restructuring plan announced on April 11, 2024, BioSenic has decided to postpone the publication of its 2023 annual report as well as its annual general meeting of shareholders, so that the Enterprise Court of Nivelles can make a decision before the completion of the annual formalities. The Company believes that this postponement is preferable to ensure that the financial statements can be prepared on a going concern basis.

Mont-Saint-Guibert, Belgium, 24 April 2024, 7:00 am CET – BioSenic (Euronext Brussels and Paris: BIOS), the clinical-stage company specializing in serious autoimmune and inflammatory diseases, today announces the postponing of the publication of its 2023 annual report, as well as the annual general meeting of its shareholders, so that the Enterprise Court of Nivelles can provide a decision before the closing of the annual formalities.

In light of the above, the publication of the full year results and the 2023 annual report is postponed to Thursday 6 June 2024 and the annual general meeting to Thursday 12 July 2024. The financial calendar on the company's website will be adapted in consequence. BioSenic can however not exclude to postpone further if circumstances oblige.

Regarding the key financial figures in 2023, the total operating income amounted to € 0.54 million, which is a slight increase compared to the same period in 2022 (i.e., € 0.27 million). The operating loss for the 2023 period amounted to € 6.36 million, compared to € 2.32 million in the 2022 period. BioSenic ended 2023 with € 0.12 million in cash and cash equivalents. Net cash used for the 2023 period amounted to € 1.73 million, while the cash position in 2022 increased of € 1.09 million. It should be noted that the financial figures reflected in the present press release are not yet audited.

François Rieger, PhD, President of the Board and CEO of the BioSenic Group, said: "BioSenic is in the process of finalizing the details of its restructuring plan to be submitted to the Enterprise Court of Nivelles. In order to offer a valid continuity perspective to all shareholders, we have agreed to wait for the Court's decision and to publish in due course - as soon as possible - the annual data and analyses necessary to fully inform the market. We should then be able to work most efficiently on the core of our mission, which is to address unmet medical needs in the autoimmune field"