- €35.2 million net cash position as of March 31, 2019
PARIS, France, – 23 April 2019, at 7:30am CET – Lysogene (FR0013233475 – LYS), a leading clinical- stage biopharmaceutical company specializing in gene therapy technology applied to central nervous system (CNS), today reports its cash position and revenues as of March 31, 2019.
As of March 31, 2019, cash and cash equivalents amounted to €36.1 million1 (compared to €25 million as of year-end 2018). The amount takes into account the milestone payment made by Sarepta Therapeutics, Inc to Lysogene in March 2019 for $18 million (€16 million), related to the first patient dosed in AAVance, the Phase 2/3 clinical trial of LYS-SAF302 in MPS IIIA.
The net cash position amounted to €35.2 million1 as of March 31, 2019.
According to IFRS15 standard 2, Lysogene achieved €5 million1 revenues in the first quarter of 2019.
Lysogene is a gene therapy company focused on the treatment of orphan diseases of the central nervous system (CNS). The company has built a unique capability to enable a safe and effective delivery of gene therapies to the CNS to treat lysosomal diseases and other genetic disorders of the CNS. A pivotal clinical trial in MPS IIIA in partnership with Sarepta Therapeutics, Inc. is ongoing and a phase 1-2 clinical trial in GM1 Gangliosidosis is in preparation. In accordance with the agreements signed between Lysogene and Sarepta Therapeutics, Inc., Sarepta Therapeutics, Inc. will hold exclusive commercial rights to LYS-SAF302 in the United States and markets outside Europe; and Lysogene will maintain commercial exclusivity of LYS-SAF302 in Europe. Lysogene is also collaborating with an academic partner to define the strategy of development for the treatment of Fragile X syndrome, a genetic disease related to autism. www.lysogene.com.
Mathilde Bohin / Emmanuel Huynh NewCap
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1 Unaudited and not subject to approval by the board of directors
2 In accordance with the IFRS 15 standard “Revenue from customer contracts”, and after analysis with its external auditors, Lysogene is required to recognize revenues relating to the license agreement signed with Sarepta.