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GenSight Biologics (SIGHT) reported its 2020 financial results, showing a 51.5% increase in operating income to €7.4 million, driven by LUMEVOQ revenues of €4.4 million. The net loss rose to €34.0 million compared to €30.9 million in 2019, influenced by an increase in financial losses to €9.1 million. R&D expenses decreased by 22% to €22.4 million. The company's cash position improved, with cash and equivalents totaling €37.9 million at year-end. GenSight is preparing for the commercial launch of LUMEVOQ in Europe and aims for a U.S. biologics filing in 2021.
GenSight Biologics (SIGHT) reported a cash position of €37.9 million as of December 31, 2020, up from €18.1 million on September 30, 2020, due to a €25 million private placement. The company is preparing for the commercial launch of its gene therapy, LUMEVOQ®, in Europe in early 2022, while also filing a Biologics License Application with the FDA in late 2021. Revenues from LUMEVOQ® sales reached €2.1 million in Q4 2020, totaling €5.6 million for the year, amidst COVID-19 restrictions. The number of outstanding shares stood at 40,875,965.
