Sensorion takes profits after half-year results

(CercleFinance.com) - Biotech company Sensorion lost ground on the Paris Bourse on Wednesday, despite the publication of half-year results and a cash position deemed reassuring.


The specialist in new therapies to restore, treat and prevent hearing loss disorders reported a net loss of 13.9 million euros for the first half, compared with -12.3 million a year earlier.

As of June 30, its cash and cash equivalents stood at 87.3 million euros, compared with 37 million at the end of 2023.

On the basis of its expenditure forecasts, Sensorion estimates that it will be able to finance its operations until the end of 2025.

'The cash position remains very comfortable to date in view of the cash burn and cash consumption forecasts', say analysts at All Invest Securities.

The teams at Stifel, who have a buy recommendation and a price target of 1.50 euros on the stock, are focusing on the promising news that the biotech is set to benefit from in the near future.

On the operational front, the company plans to present several results at the World Congress of Audiology (WCA), which opens at the end of the week.

In particular, Sensorion will unveil the final results of its Phase IIa study in the preservation of residual hearing after cochlear implantation, and the initial findings of its Phase IIa trial in cisplatin-induced ototoxicity.

Despite this encouraging news, the share lost over 3.2% on Wednesday morning on the Paris market, a victim of profit-taking after having climbed over 37% in the last two weeks.

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