Oddo maintains its 'outperform' rating on Gensight Biologics shares, with an unchanged target price of 7 euros.

The research firm points out that Gensight announced on Friday that it had signed a 12 ME financing in the form of a convertible bond issue (OCA) with Heights Capital.

In addition, the company announced that it had signed a BSA issuance agreement with the EIB, enabling it, among other things, to fulfill the conditions necessary for the release of the first 8 ME tranche.

Oddo points out that several major catalysts are expected over the next 12 months: clinical data for GS030, GMP production results for Lumevoq in Q1 2023, resumption of ATU for Lumevoq in H1 2023, potential MA for Lumevoq in Europe in H2 2023...

Gensight is one of our favorite biotech stocks (added to our Top Picks Biotech list last June): the company offers an attractive risk/reward profile given the maturity of its pipeline and a discounted valuation', concludes the analyst.

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