Generation Bio (GBIO) investor relations material

Executive summary

• Announced a strategic restructuring with a 90% workforce reduction and exploration of strategic alternatives, including potential sale or merger, to maximize shareholder value, with TD Cowen as financial advisor.

• Initiated a strategic review process and began phased restructuring, including R&D staff.

• Announced new data showing selective delivery of siRNA to T cells in non-human primates using ctLNP, with potent knockdown of LAT1 and VAV1.

• Regained Nasdaq compliance following a 1-for-10 reverse stock split effective July 21, 2025.

• Entered a $31.0 million settlement in August 2025 to resolve Seyon Lease litigation, with mutual releases and dismissal of litigation.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $141.4 million as of June 30, 2025, down from $185.2 million at year-end 2024.

• Net loss was $20.9 million for Q2 2025 and $35.7 million for the first half of 2025, compared to $20.4 million and $95.0 million, respectively, in 2024.

• R&D expenses were $15.5 million and G&A expenses were $7.7 million for Q2 2025, both down from Q2 2024.

• Working capital was $126.1 million and total assets $179.4 million as of June 30, 2025.

• Total stockholders' equity was $54.1 million as of June 30, 2025.

Outlook and guidance

• Restructuring costs of $12.0–$15.0 million expected, mainly for severance and retention, to be incurred in Q3 and Q4 2025.

• Cash runway expected to fund operations and capital expenditures for at least 12 months from the reporting date.

• Post-litigation settlement and restructuring, cash and equivalents projected at $100 million.

• Actual restructuring costs and savings may differ materially from estimates due to various assumptions.