GenSight Biologics shares were up on Friday morning after the struggling biopharmaceutical company announced the appointment of Laurence Rodriguez, a former Sanofi Genzyme executive, as its new CEO.

At around 12:30 pm, the stock was up 0.7%, after having gained more than 5% earlier in the morning.

Laurence Rodriguez notably held the position of Director of the Rare Diseases and Rare Hematological Diseases entity at Sanofi Genzyme, where she oversaw the successful launch of numerous treatments.

The executive, who had joined GenSight in 2021 as Director of Operations for France, will replace Bernard Gilly, co-founder of the company in 2012, who will remain a director of the company despite no longer assuming operational responsibilities.

Despite today's small rebound, the share price is down 85% this year, due to the withdrawal in April of its application for marketing authorization in Europe for Lumevoq, its gene therapy.

Three years ago, almost to the day, GenSight announced that it had submitted a marketing authorization application to the European Medicines Agency", analysts at Invest Securities recalled this morning.

"While the outlook was rather optimistic at the time, the regulatory and stock market developments have unfortunately not confirmed our hopes", the brokerage firm emphasized.

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