France's GenSight Biologics H1 net loss widens on higher R&D expenses

Overview

• France biopharma firm's H1 2026 IFRS revenue negative on rebates, despite €6.5 mln cash collected

• Net loss for H1 2026 widened to €10.3 mln; loss per share unchanged at €0.05

• Company flagged material uncertainty over going concern due to need for additional funding

Outlook

• Company estimates net funding requirement of about €16 mln for RECOVER Phase III trial and manufacturing

• RECOVER Phase III trial expected to start in H2 2027, subject to securing necessary financing

• Company warns of material uncertainty about ability to continue as going concern if funding not secured

Result Drivers

• EARLY ACCESS REVENUE - Collections from paid early access programs in France and Israel reduced operating cash burn, per CFO Jan Eryk Umiastowski

• ACCOUNTING CHANGES - Negative IFRS revenue driven by accrued rebates and a one-off non-cash change in accounting estimate

• R&D EXPENSES - Higher research and development costs due to expanded teams and manufacturing technology transfer

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Gensight Biologics SA is €0.31, about 156.7% above its September 28 closing price of €0.12

Reuters Recommended Reads

• Sept 29 - France's MaaT Pharma H1 operating loss widens on higher R&D costs

• Sept 28 - France's Genfit H1 revenue falls due to absence of milestone payments

• Sept 28 - UK's Hemogenyx Pharmaceuticals H1 loss widens on share-based payments

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)