{"id":62853,"date":"2026-03-27T10:02:23","date_gmt":"2026-03-27T09:02:23","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/gensight-biologics-reports-estimated-full-year-consolidated-financial-results-for-2025\/"},"modified":"2026-03-27T10:02:23","modified_gmt":"2026-03-27T09:02:23","slug":"gensight-biologics-reports-estimated-full-year-consolidated-financial-results-for-2025","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/gensight-biologics-reports-estimated-full-year-consolidated-financial-results-for-2025\/","title":{"rendered":"GenSight Biologics Reports Estimated Full-Year Consolidated Financial Results for 2025"},"content":{"rendered":"<div>\n<ul class=\"bwlistdisc\">\n<li>\n2025 was a turning point with key regulatory milestones providing a solid foundation for 2026.<\/li>\n<li>\nCash runway is projected to extend through December 2026.<\/li>\n<li>\nPreparation of the Phase III RECOVER study is ongoing, including financing related to the trial.<\/li>\n<\/ul>\n<p>\n<i>Note: See paragraph on <\/i>Estimated Full-Year 2025 Consolidated Financial Results<i> at the end of this Press Release<\/i><\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20260326262732\/en\/732454\/5\/Logo_Gensight.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260326262732\/en\/732454\/22\/Logo_Gensight.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20260326262732\/en\/732454\/5\/Logo_Gensight.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260326262732\/en\/732454\/21\/Logo_Gensight.jpg\"><\/a><\/p>\n<p>PARIS&#8211;(BUSINESS WIRE)&#8211;Regulatory News:<\/p>\n<p>\nGenSight Biologics (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today reported estimated full-year consolidated financial results for 2025,<sup>1<\/sup> as reviewed by the Audit Committee and the Board of Directors on March 25, 2026. The Board of Directors will approve the final accounts on April 3, 2026, and the certification by the statutory auditors will take place after completion of the required procedures for the filing of the universal registration document with the <i>Autorit\u00e9 des March\u00e9s Financiers (<\/i>AMF<i>)<\/i>.<\/p>\n<p>\n<i>\u201c<\/i><i>2025 <\/i><i>served as a turning point for GenSight Biologics. We achieved key regulatory milestones of pressing importance to patients, namely the authorizations for early access programs in France, Israel and the USA, while also successfully completing multiple financing rounds in a challenging fundraising environment,&#8221; <\/i>commented <b>Jan Eryk Umiastowski<\/b>, CFO of GenSight Biologics.<i> &#8220;Having extended our cash runway into the next phase of the Company\u2019s development, we enter 2026 with a strengthened financial foundation supporting a clear path forward.\u201d<\/i><\/p>\n<p>\n<b>Estimated Annual Consolidated Financial Statements (IFRS) for FY 2025<sup>1<\/sup><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth74\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignl bwcellpmargin\">\nIn million euros<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>As of December 31<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Cash and cash equivalent<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2.4<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2.5<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNon-current assets<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.3<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.4<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther Current assets<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.6<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.9<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total assets<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>8.3<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>10.8<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total shareholders\u2019 equity<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(24.9)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(26.9)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNon-current liabilities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20.5<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n15.1<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCurrent liabilities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.7<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22.6<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl2 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>33.2<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>37.7<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth74\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total Shareholders\u2019 equity and liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>8.3<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>10.8<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n____________________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>1<\/sup> See paragraph on <i>Estimated Full-Year 2025 Consolidated Financial Results<\/i> at the end of this Press Release.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth48\" colspan=\"1\" rowspan=\"1\">In million euros<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>% Change<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>\u20ac Change<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOperating income<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.7<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2.6<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(75.2)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2.0)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nResearch and development expenses<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6.4)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.4)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(47.9)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5.9)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nSales and marketing expenses<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.6)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.7)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18.9)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.1)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nGeneral and administrative expenses<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.7)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5.4)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.5)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.7)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOperating expenses<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(11.7)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18.4)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(36.5)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6.7)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOperating profit (loss)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(11.1)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15.8)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwvertalignb bwpadr0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30.1)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.8)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nFinancial profit (loss)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1.0)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1.8<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nn.m.<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2.8)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet profit (loss)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.0)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14.0)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14.0)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2.0)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nEPS (in \u20ac per share)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.08)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.15)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(46.7)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.1<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet cash flows from operating activities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(9.2)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12.9)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(29.1)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.8<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet cash flows from investing activities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.2<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nn.m.<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.2<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet cash flows from financing activities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8.9<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13.5<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(34.0)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4.6)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIncrease (decrease) in cash and cash equivalents<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(0.1)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>0.6<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl2 bwwidth48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCash and cash equivalents at closing<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2.4<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2.5<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<p>\n<b>Operating income<\/b> decreased to \u20ac0.7 million from \u20ac2.6 million over the period. This \u20ac2.0 million decrease is primarily attributable to the decrease in the research tax credit (<i>Cr\u00e9dit d\u2019imp\u00f4t recherche<\/i>), amounting to \u20ac0.7 million at the end of 2025 from \u20ac1.1 million a year before, reflecting lower clinical development expenses for GS010 (LUMEVOQ<sup>\u00ae<\/sup>). The decrease is also explained by the change in the valuation of the refund liability and the potential rebate obligations arising from the ATU (early access) regulatory framework in 2024.<\/p>\n<p>\n<b>Research and development expenses<\/b> decreased by 47.9%, or \u20ac5.9 million, to \u20ac6.4 million in 2025, compared with \u20ac12.4 million in the prior year. This decrease reflects the Company\u2019s continued focus on prioritizing its activities, with reduced R&amp;D spending primarily related to the GS010 technology transfer to its new manufacturing partner, Catalent, Inc., and to essential activities supporting the preparation of the dose-ranging study requested by the ANSM in the context of the resumption of the AAC (early access program).<\/p>\n<p>\n<b>Sales and marketing expenses<\/b> decreased by 19% in 2025 to \u20ac0.6 million, compared with \u20ac0.7 million in the prior year, reflecting continued cost discipline. These expenses remain limited, consistent with the Company\u2019s current stage of development and its focus on R&amp;D activities rather than commercial operations.<\/p>\n<p>\n<b>General and administrative expenses <\/b>decreased by 12.5% in 2025 to \u20ac4.7 million, compared with \u20ac5.4 million in the prior year, reflecting ongoing cost discipline. The increase in personnel expenses in 2025 is explained by the recruitment of a Chief Financial Officer in September 2024, a break from the previous outsourcing approach. This increase, however, was more than offset by a 45.5% decrease in professional fees, illustrating the Company\u2019s continued focus on cost control.<\/p>\n<p>\n<b>Operating loss<\/b> decreased by 30.1%, or \u20ac4.8 million, in 2025, amounting to \u20ac(11.1) million compared to \u20ac(15.8) million a year earlier. This decrease reflects trends in Operating income, R&amp;D expenses, Sales, medical, marketing and G&amp;A expenses, which, as discussed above, was partially offset by the reduction in the research tax credit.<\/p>\n<p>\n<b>Financial result<\/b> amounted to \u20ac(1.0) million compared to \u20ac1.8 million a year earlier. In 2024, the financial income is essentially explained by the renegotiation of our financial obligations and the change in derivative financial instrument fair value. In 2025, the financial result represents the interest expenses on our debt and the result in connection with our financial instrument.<\/p>\n<p>\n<b>Net loss<\/b> amounted to \u20ac12.0 million in FY 2025 compared to a loss of \u20ac14.0 million in FY 2024, a decrease of \u20ac2.0million or 14.0%. The weighted average number of shares outstanding increased from 95.8 million in FY 2024 to 148.3 million in FY 2025, also contributing to a reduction in loss per share from \u20ac0.15 in FY 2023 to \u20ac0.08 in FY 2025.<\/p>\n<p>\n<b>Net cash flows from operating activities <\/b>amounted to \u20ac(9.2) million in 2025, compared with \u20ac(12.9) million in 2024. The improvement mainly reflects the significant reduction in operating expenses, partially offset by a lower research tax credit (CIR), which was the Company\u2019s sole source of revenue in 2025.<\/p>\n<p>\n<b>Net cash flows from investment activities <\/b>remained limited, amounting to \u20ac0.2 million in 2025 compared with \u20ac0.02 million in 2024, reflecting the activity of the Company\u2019s liquidity contract and, in 2025, the refund of the security deposit related to the U.S. office premises following the termination of the lease in August 2025.<\/p>\n<p>\n<b>Net cash flows from financing activities <\/b>amounted to \u20ac8.9 million in 2025, compared with \u20ac13.5 million in 2024. This change reflects capital increases of \u20ac10.4 million in 2025 versus \u20ac16.7 million in 2024, in line with the Company\u2019s financing strategy and the timing of fundraising activities. In addition, 2025 includes the repayment of the final installment of the French state-guaranteed loan (PGE) in October, whereas 2024 included the partial repayment of the PGE for \u20ac2.2 million.<\/p>\n<p>\n<b>Cash and cash equivalents <\/b>totaled \u20ac2.4 million as of December 31, 2025, compared to \u20ac2.5 million as of December 31, 2024. The Company completed successful offerings in March, July, September, November and December 2025, corresponding to capital increases in gross amounts, excluding the convertible bond amortization rolled in of approximately \u20ac10.4 million in total, limited to specialized investors.<\/p>\n<p>\n<b>Cash runway<\/b><\/p>\n<p>\nIn December 2025, the ANSM granted Compassionate Use Authorization (<i>Autorisation d\u2019Acc\u00e8s Compassionnel<\/i>, or AAC) for the GS010\/LUMEVOQ<sup>\u00ae<\/sup> gene therapy in France. On March 9, 2026, the ANSM approved the first group of individual patient applications submitted under this AAC program. The first patients were treated on March 19, 2026, at 15\u201320 national hospital, with the first payments received on March 24, 2026.<\/p>\n<p>\nAlthough the Group is unable to predict the precise number of treated patients and timing of treatments and related payments under its various paid early access programs (in particular in France and Israel) over the coming year, management currently expects that aggregate revenues from these programs in 2026 should be sufficient to cover the Group\u2019s operating expenses for that period, excluding costs associated with the new Phase III clinical trial including some of the manufacturing costs related to this study.<\/p>\n<p>\nThe revenues from these early access programs are not expected to be sufficient to fully fund the RECOVER Phase III clinical trial and the associated manufacturing costs. As a result, and in order to supplement its working capital and fund ongoing operating expenses, including preparations for and execution of the RECOVER Phase III clinical trial currently expected to start in the second quarter of 2027, the Company will need to obtain additional sources of financing (debt and\/or equity), and\/or expand international paid Early Access Programs beyond France and Israel, and\/or enter into out-licensing deals outside the USA and Europe, and\/or engage in partnering or M&amp;A transactions within the going concern assessment period and, in any case, before the end of 2026, in order to avoid postponing the start of the Phase III study.<\/p>\n<p>\n<b>Accounting Principles for the Preparation of the Estimated Consolidated Financial Information<\/b><\/p>\n<p>\nThe estimated consolidated financial information has been prepared assuming the Company will continue as a going concern. No adjustments have been made to the financial statements relating to the recoverability and classification of asset carrying amounts or classification of liabilities that might be necessary, should the Company not be able to continue as a going concern.<\/p>\n<p>\nThe estimated consolidated financial information has been prepared on a going concern basis as of December 31, 2025, based on the following key assumptions:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe successful execution of the AAC program in France and other paid early access programs, generating aggregate revenues in 2026 sufficient to cover the Group\u2019s operating costs for that period (excluding costs associated with the new Phase III clinical trial including some of the manufacturing costs related to this study);<\/li>\n<li>\nThe Group\u2019s ability to timely initiate manufacturing campaigns with, and provide adequate support to, its contract manufacturing organization (CMO) so as to rebuild and maintain sufficient product inventories for treatments expected to be performed in 2027 and 2028;<\/li>\n<li>\nThe availability, if required, of short\u2011term bridge financing prior to obtaining the structural funding required for the RECOVER Phase III clinical trial;<\/li>\n<li>\nThe Group\u2019s ability to secure additional funds before the end of 2026, with the structural financing required for the RECOVER Phase III clinical trial expected to be obtained from one or more of the following sources: (i) a new equity financing, (ii) the potential drawdown of the \u20ac12 million non\u2011dilutive Tranche B under the existing EIB facility (subject to the satisfaction of milestone\u2011based conditions currently under discussion), (iii) expansion of international paid Early Access Programs beyond France and Israel, and (iii) potential out\u2011licensing or partnering arrangements or M&amp;A transaction(s).<\/li>\n<\/ul>\n<p>\nWhile management believes that it will be able to raise additional funds and\/or realize partnering or M&amp;A opportunities, there can be no assurance that such transactions will be completed on a timely basis, in sufficient amounts or on acceptable terms. Failure to secure adequate funding could require the Group to significantly curtail or delay its operating plans, impair its ability to realize its assets and settle its liabilities in the normal course of business, or could ultimately lead to insolvency proceedings or the cessation of its operations in whole or in part.<\/p>\n<p>\nThese events and conditions, together with the uncertainties above, indicate the existence of a material uncertainty that may cast significant doubt on the company\u2019s ability to continue as a going concern.<\/p>\n<p>\n<b>Financial Agenda<\/b><\/p>\n<p>\nOn April 7, 2026, GenSight Biologics will report its cash position as of March 31, 2026.<\/p>\n<p>\n<b>About GenSight Biologics<\/b><\/p>\n<p>\nGenSight Biologics S.A. is a clinical-stage biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics&#8217; pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from blinding retinal diseases. GenSight Biologics&#8217; lead product candidate, GS010 (lenadogene nolparvovec) is in Phase III in Leber Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible blindness in teens and young adults. GS010 is currently in clinical development, has not to date been granted marketing authorization in France or any other jurisdiction, and is therefore not available commercially. Using its gene therapy-based approach, GenSight Biologics&#8217; product candidates are designed to be administered in a single treatment to each eye by intravitreal injection to offer patients a sustainable functional visual recovery.<\/p>\n<p>\n<b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains forward-looking statements, including statements regarding product development prospects and financial projections. These statements do not constitute guarantees of future performance and involve risks and uncertainties. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in GenSight Biologics\u2019 regulatory filings with the French <i>Autorit\u00e9 des March\u00e9s Financiers<\/i>. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, GenSight Biologics undertakes no obligation to update or revise the information contained in this press release.<\/p>\n<p>\n<b>Estimated Full-Year 2025 Consolidated Financial Results<\/b><\/p>\n<p>\nThe Group\u2019s financial information relating to the financial year ended December 31, 2025 included in this document have been prepared using a process similar to that adopted for the preparation of the Group\u2019s annual consolidated financial statements. The estimated accounting and financial data are currently being audited by the Company\u2019s statutory auditors. Gensight has not yet obtained assurance from its auditors that the financial statements will be certified without qualification. The Board of Directors of Gensight has examined the Group\u2019s estimated financial information for the financial year ended December 31, 2025, at the meeting held on March 25, 2026, and has approved their communication. The Group\u2019s financial statements, which will be approved by the Board of Directors in the meeting to be held on April 3, 2026, shall include any material events previously unknown by the Group and of which it becomes aware or which may occur after March 25, 2026. Therefore, the financial information presented shall be qualified as estimated financial results.<\/p>\n<p>\n<b>Detailed information<\/b><\/p>\n<p>\nDetailed information regarding the Company, including its business, financial information, results, perspectives and related risk factors are contained (i) in the Company\u2019s 2024 Universal Registration Document filed with the AMF on April 8, 2025, under number D.25-0234 (the &#8220;2024 URD&#8221;). This document, as well as other regulated information and all of the Company&#8217;s press releases, can be accessed on the Company&#8217;s website (<a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gensight-biologics.com&amp;esheet=54466728&amp;newsitemid=20260326262732&amp;lan=en-US&amp;anchor=www.gensight-biologics.com&amp;index=1&amp;md5=8e7ad1fd66268a86ff776fbae7aedba8\" rel=\"nofollow\" shape=\"rect\">www.gensight-biologics.com<\/a>) and\/or AMF (<a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.amf-france.org&amp;esheet=54466728&amp;newsitemid=20260326262732&amp;lan=en-US&amp;anchor=www.amf-france.org&amp;index=2&amp;md5=5bbcf898bc8cc4c43b6e0f61c66127ae\" rel=\"nofollow\" shape=\"rect\">www.amf-france.org<\/a>). Your attention is drawn to the risk factors related to the Company and its activities presented in chapter 3 of its 2024 URD, in particular the liquidity risk presented in the chapter 3.1.1.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"4\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>Estimated Full-Year 2025 Consolidated Financial Results<sup>2<\/sup><\/b><\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>BALANCE SHEET<\/b><\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>ASSETS<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNon-current assets<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIntangible assets<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n57<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nProperty, plant and equipment<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n427<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n933<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther non-current financial assets<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,847<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 424<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total non-current assets<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,274<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>5 413<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Current assets<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTrade accounts receivable<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther current assets<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 567<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 878<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCash and cash equivalents<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 415<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 464<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total current assets<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>4 982<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>5 343<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>TOTAL ASSETS<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>8 256<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>10 756<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>LIABILITIES<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Shareholders\u2019 equity<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nShare capital<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5 522<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3 119<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nPremiums related to the share capital<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n217 405<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n206 606<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nReserves<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(235 833)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(222 644)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet income (loss)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12 036)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14 001)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total shareholders\u2019 equity<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(24 942<\/b>)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(26 920)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Non-current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nConvertible bonds\u2014non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 382<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nDerivative liabilities \u2013 non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n656<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3 960<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nBorrowings from Banks\u2014non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 835<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nConditional advances\u2014non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 565<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 700<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nLease liability\u2014non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n514<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther liability \u2013 non-current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 983<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 718<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNon-current provisions<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1 104<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1 166<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total non-current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20 529<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>15 058<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nConvertible bonds\u2014current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3 120<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 973<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nDerivative liabilities \u2013 Current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nBorrowings from Banks\u2014current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n176<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 341<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nConditional advances\u2014current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n396<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nLease liability\u2014current portion<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n346<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n585<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTrade accounts payable<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5 922<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 357<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCurrent provisions<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther current liabilities<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 708<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 362<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total current liabilities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>12 669<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>22 618<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>8 256<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>10 756<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n____________________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>2<\/sup> See paragraph on <i>Estimated Full-Year 2025 Consolidated Financial Results<\/i>.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>Estimated Full-Year 2025 Consolidated Financial Results<sup>3<\/sup><\/b><\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>PROFIT &amp; LOSS 2025<\/b><\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>VAR<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Operating income<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nRevenues<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1 500<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1 499)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(99.9%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther income<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n651<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1 125<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(474)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(42.2%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total operating income<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>652<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2 625<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(1 973)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(75.2%)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Operating expenses<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nResearch and development<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 440<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12 368<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5 928)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>(47.9%)<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nGeneral and administrative<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4 711<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5 386<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(675)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>(12.5%)<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nSales and marketing<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n555<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n685<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(129)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>(18.9%)<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total operating expenses<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>11 706<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>18 438<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(6 732)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>(36.5%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Operating profit (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(11 054)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(15 813)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>4 759<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>(30.1%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Financial income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(987)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>1 833<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(2 820)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>(153.8%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIncome tax<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>5<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(21)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n26<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>&#8211;<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(12 036)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(14 001)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>1 965<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>(14.0%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Basic and diluted earnings (loss) per share<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.08)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(0.15)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>0.07<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>&#8211;<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(12 036<\/b>)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(14 001)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nActuarial gains and losses on employee benefits, net of income tax<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nForeign currency translation differences, net of income tax<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n397<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(184)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth49\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total comprehensive income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(11 631)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(14 172)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n____________________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>3<\/sup> See paragraph on <i>Estimated Full-Year 2025 Consolidated Financial Results<\/i>.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>Estimated Full-Year 2025 Consolidated Financial Results<sup>4<\/sup><\/b><\/i><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>CASHFLOW STATEMENT<\/b><\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2024<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Cash flows from operating activities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet income (loss)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12 036)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14 001)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOperating activities<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAmortization and depreciation<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n465<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1 059<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nRetirement pension obligations<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n27<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nExpenses related to share-based payments<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n391<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n784<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIncome Tax<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther financial items<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n630<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1 674)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl4 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther non-monetary items (incl. change effect)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n364<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b><i>Operating cash flows before change in working capital<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(10 164)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(13 810)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAccounts receivable<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAccounts payable, net of prepayments<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(516)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n155<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther receivables<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n890<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 028<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther current and non-current liabilities<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n620<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1 310)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i>Change in working capital<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n994<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>873<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net cash flows from operating activities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(9 170)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(12 937)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net cash flows from investment activities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>180<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>17<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net cash flows from financing activities<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>8 937<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>13 542<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Increase\/(decrease) in cash and cash equivalents<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(53)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b><i>623<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i>Cash and cash equivalents at the beginning of the period<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2 464<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>2 134<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i>Effect of changes in exchange rates on Cash and cash equivalent<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>5<\/i><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>(293)<\/i><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth75\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Cash and cash equivalents at the close of the period<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2 415<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>2 464<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n____________________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>4<\/sup> See paragraph on <i>Estimated Full-Year 2025 Consolidated Financial Results<\/i>.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwblockalignl bwtablemarginb bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"4\" rowspan=\"1\"><i><b>Estimated Full-Year 2025 Consolidated Financial Results<sup>5<\/sup><\/b><\/i><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i><b>CHANGE IN EQUITY<\/b><\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignr bwcellpmargin\">\n<i>In thousands of Euros, except for number of shares<\/i><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Share capital<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Premium related to share capital<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Reserves<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Net income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Total shareholders\u2019 equity<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Number of<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\">\n<b>shares<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Amount<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>At January 1, 2025<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10 bwnowrap\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>124 774 445<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>3 119<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>206 606<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(222 644)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(14 001)<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(26 920)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet income (loss)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12 036)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12 036)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCumulative translation<br \/>\n<br \/>adjustment<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n397<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n397<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther comprehensive income<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total comprehensive income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n405<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12 036)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(11 631)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAllocation of prior period net income (loss)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(14 001)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14 001<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAllocation to reserves<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCapital increase by issuance of ordinary shares<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n93,253,258<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,331<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5 550<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7 881<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCapital increase transaction costs<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(932)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(932)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nExercise and subscription of equity instruments<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,862,695<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n72<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 181<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6 252<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTreasury shares<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nShare-based payments<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n391<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n391<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>At December 31, 2024<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>220,890,398<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>5 522<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>217 405<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(235 833)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(12 036)<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>(24 942)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n____________________<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>5<\/sup> See paragraph on <i>Estimated Full-Year 2025 Consolidated Financial Results<\/i>.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\n<b>GenSight Biologics<\/b><br \/>Chief Financial Officer<br \/>\n<br \/>Jan Eryk Umiastowski<br \/>\n<br \/><a target=\"_blank\" href=\"m&#97;&#105;&#x6c;&#x74;&#x6f;&#x3a;j&#101;&#117;&#109;&#x69;&#x61;&#x73;to&#119;&#115;&#x6b;&#x69;&#x40;ge&#110;&#115;&#x69;&#x67;&#x68;t-&#98;&#105;&#x6f;&#x6c;&#x6f;gi&#99;&#115;&#x2e;&#x63;&#x6f;m\" rel=\"nofollow\" shape=\"rect\">&#106;&#101;&#x75;m&#105;&#x61;&#x73;t&#111;&#x77;&#x73;k&#105;&#x40;&#x67;e&#110;&#x73;&#x69;g&#104;&#x74;&#x2d;b&#105;&#x6f;l&#111;&#103;&#x69;c&#115;&#x2e;&#x63;o&#109;<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>2025 was a turning point with key regulatory milestones providing a solid foundation for 2026. Cash runway is projected to extend through December 2026. Preparation of the Phase III RECOVER study is ongoing, including financing related to the trial. Note: See paragraph on Estimated Full-Year 2025 Consolidated Financial Results at the end of this Press &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/gensight-biologics-reports-estimated-full-year-consolidated-financial-results-for-2025\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-62853","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GenSight Biologics Reports Estimated Full-Year Consolidated Financial Results for 2025 - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/gensight-biologics-reports-estimated-full-year-consolidated-financial-results-for-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GenSight Biologics Reports Estimated Full-Year Consolidated Financial Results for 2025 - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"2025 was a turning point with key regulatory milestones providing a solid foundation for 2026. 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Cash runway is projected to extend through December 2026. Preparation of the Phase III RECOVER study is ongoing, including financing related to the trial. Note: See paragraph on Estimated Full-Year 2025 Consolidated Financial Results at the end of this Press ... 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