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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Loss Per Share

EUR 0.05

H1 Net Loss

EUR 10.30 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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