GenSight Biologics, a biopharma company that discovers and develops innovative gene therapies for neurodegenerative retinal diseases and diseases of the central nervous system, has reported €22.1 million loss for 2016, which is increase of loss comparing last years €13.7 million.
The main reason for increase in loss is 72% increase in R&D expanses. The copmany explained that the increase reflects a ramp up of research and development activities, both on the preclinical and clinical development fronts, as well as the recruitment of additional research and development-dedicated personnel to support these activities.
To remind, GenSight Biologics’ lead product candidate, GS010, is in Phase III trials in Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible low vision and legal blindness in teens and young adults.