In parallel, preparatory work for the RECOVER Phase III clinical trial is actively progressing, particularly regarding the associated financing component.

In 2025, the operating loss narrowed significantly, falling 30.1% to 11.1 million euros, compared to 15.8 million euros a year earlier, representing an improvement of 4.8 million euros. This trend reflects both fluctuations in operating income and a reduction in expenditures across R&D, commercial, and general and administrative expenses. However, this was partially offset by a decrease in the Research Tax Credit.

The net loss amounted to 12 million euros, compared to 14 million euros the previous year.

The gene therapy LUMEVOQ (GS010) reached several key milestones in France in early 2026 under the compassionate access framework: the first patient authorizations on March 9, the first treatments on March 19, and the first payments on March 24.

The group anticipates that revenue from paid early access programs, notably in France and Israel, should cover its operating expenses in 2026, excluding costs related to the launch of the RECOVER Phase III clinical trial.

However, this revenue will not be sufficient to fund the trial and its associated manufacturing. Consequently, the company will need to secure additional financing by the end of 2026 - through debt, equity issuance, partnerships, or licensing - or expand its international programs to maintain the study schedule, which is expected in the second quarter of 2027.