Geneva, Switzerland - 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), reported on its 2022 first quarter cash position.

2022 First-quarter financial information

At March 31, 2022, GeNeuro had EUR5.9 million in cash. This includes the first instalment of EUR3.0 million from the Swiss Federal Office for Public Health (FOPH) grant for its post-COVID program, which was received in January 2022. The available cash resources provide GeNeuro with good visibility until Q2- 2023 in terms of financing its current activities.

The cash consumption related to GeNeuro's operating and investing activities in Q1 2022 was EUR2.5 million, compared to EUR2.1 million for the same period of 2021. The increase is due to expenses related to the preparation of the Phase 2 clinical trial in post-COVID, primarily for the manufacturing of a new batch of the company's leading drug candidate, temelimab, which will be used in the clinical trial. Accordingly, Q1 2022 cash consumption was in line with the Company's expectations and also included the payment of outstanding invoices from suppliers and accruals at end December 2021. With the Company's ProTEctMS clinical trial at the Karolinska Institutet in Stockholm having been completed during Q1 2022, with the topline results announced on March 21, 2022, the Company expects its cash consumption to continue decreasing during 2022, excluding the effect of the post-COVID clinical trial.

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.

Contact:

Investors

Mathilde Bohin

Chairman and CEO

T: +33 1 44 71 98 52

T: +41 22 552 4800

E: investors@geneuro.com

Media

Arthur Rouille

T: +33 1 44 71 94 98

E: geneuro@newcap.eu

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