Sensorion (ALSEN) H2 2024 earnings summary

Executive summary

• Achieved key clinical milestones in gene therapy and small molecule programs for hearing loss, including first cohort enrollment in SENS-501's Phase 1/2 trial and positive Phase 2a results for SENS-401 in cochlear implantation.

• Strengthened financial position with €65.5m capital raised from top-tier healthcare investors, extending cash runway to end of Q1 2026.

• Advanced gene therapy pipeline with SENS-501 and GJB2-GT, and completed patient enrollment in SENS-401 NOTOXIS trial for cisplatin-induced ototoxicity.

• Expanded leadership team with appointments of Dr. Federico Mingozzi to the board and Laurene Danon as CFO.

Financial highlights

• Cash and short-term deposits totaled €77m as of December 31, 2024, up from €37m at end of 2023.

• R&D expenses increased 13% to €25.7m in 2024; G&A expenses rose to €9.4m from €5.3m year-over-year.

• Net loss widened to €26.0m in 2024 from €22.1m in 2023.

• Annual accounts prepared under IFRS and received an unqualified auditor's report.

Outlook and guidance

• Sufficient cash to fund operations through end of Q1 2026.

• Key milestones expected: SENS-501 second cohort enrollment and KOL event in H1 2025, SENS-401 NOTOXIS topline results in H2 2025, and GJB2-GT clinical trial application in Q1 2026.