GeNeuro: Financial Information for the Second Quarter 2023
25 Juli 2023 - 6:00PM
Business Wire
- Strong financial situation and visibility:
- Cash position of €8.0 million at 30 June
2023 - Company’s operations funded into Q3-2024
Regulatory News:
GeNeuro (Euronext Paris: CH0308403085 - GNRO), a
biopharmaceutical company developing treatments for
neurodegenerative and autoimmune diseases, such as multiple
sclerosis (MS), amyotrophic lateral sclerosis (ALS) and the severe
neuropsychiatric consequences of COVID-19 (post-COVID or
Long-COVID), today reported on its 2023 second quarter cash
position.
2023 Second-quarter financial information
At 30 June 2023, GeNeuro had €8.0 million in cash. The available
cash resources provide GeNeuro with good visibility into
Q3-2024.
The cash consumption related to GeNeuro’s operating and
investing activities in Q2 2023, in line with the Company's
expectations, was €1.5 million, compared to €3.0 million for the
first quarter for 2023 and €4.2 million for the same period of
2022. The Company expects its quarterly cash consumption to remain
stable during the second half of 2023 as the post-COVID clinical
trial advances. With the recent opening of a second site in Madrid,
Spain, the clinical trial now counts thirteen sites recruiting
patients in Switzerland, Spain and Italy.
Next financial report:
First half financial results: 29 September 2023.
About GeNeuro
GeNeuro‘s mission is to leverage HERV biology to develop safe
and effective treatments for the benefit of patients, by
neutralizing causal factors encoded by HERVs that 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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version on businesswire.com: https://www.businesswire.com/news/home/20230725403880/en/
GeNeuro Jesús Martin-Garcia Chairman and CEO +41 22 552
4800 investors@geneuro.com
NewCap (France) Louis-Victor Delouvrier / Mathilde Bohin
(investors) +33 1 44 71 94 94 Arthur Rouillé (media) +33 1 44 71 00
15 geneuro@newcap.eu
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