Sensorion (ALSEN) H1 2026 earnings summary

Executive summary

• Focus shifted to SENS-601 gene therapy for GJB2-related hearing loss after discontinuing SENS-501 due to a changing competitive landscape and greater unmet need in GJB2 indications; SENS-601 advanced with CTAs filed in France and Canada, French approval received in August 2026, and Fast Track status granted.

• SENS-401, a small molecule for hearing preservation, completed proof-of-concept and Phase II studies in three indications; partnering opportunities are being explored.

• Major management changes: Fred Chereau appointed CEO in June 2026, with interim CEO Amit Munshi earlier in the year; organizational restructuring proposed post-period.

Financial highlights

• Cash, cash equivalents, and short-term deposits totaled €88.5 million at June 30, 2026, up from €47.5 million at December 31, 2025.

• Operating expenses rose to €24.1 million from €19.1 million, driven by higher R&D (€16.4 million, up 9% YoY) and G&A (€7.7 million) costs.

• Net loss widened to €20.7 million from €16.0 million year-over-year.

• Equity increased to €81.6 million from €44.5 million at year-end 2025, reflecting a €60 million capital raise.

Outlook and guidance

• Cash runway expected to fund operations through end of 2027, with no liquidity risk anticipated in the next twelve months.

• First patient dosing for SENS-601 targeted by early 2027; US IND and Australia CTA submissions planned by year-end 2026.

• Organizational restructuring under consideration to align resources with GJB2-GT focus; may have future financial impacts.