GenSight Biologics is trading lower on the Paris Bourse on Friday, with analysts noting the company's continuing lack of cash visibility.

At March 31, the company's net cash position stood at 2.2 million euros, compared with 2.1 million euros at the end of 2023.

In its press release, GenSight points out that it does not have sufficient net working capital to meet its obligations over the next 12 months, but only until the end of April 2024.

This situation 'presupposes very short-term refinancing', according to analysts at Invest Securities.

The company says it is currently engaged in active discussions to secure financing for its activities from the end of April until the third of 2024.

In view of the upcoming resumption of the Early Access Program (EAP) in France, GenSight estimates that its cash horizon could be extended to the end of the first quarter of 2025.

The company, which estimates its financing requirements for the next 12 months at nine million euros, also states that it is engaged in numerous discussions on strategic opportunities.

These talks with potential partners include a possible merger, acquisition or licensing agreement.

The share price lost over 5% on Friday on the Paris Bourse following this update on its cash position and activities.

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