Genomic Vision announced on Friday that it had declared itself to be in suspension of payments to the Nanterre Commercial Court, to which it has also applied to open a receivership procedure.

The genomic analysis specialist explains that it is no longer in a position to cover its cash requirements, given the fall in its share price and the liquidity of its shares on the market.

The group adds that it does not have sufficient available resources to meet its liabilities.

The share price fell sharply last month after the company announced that it had just enough financial resources to finance its activities until the end of October.

This announcement followed the publication of a net loss of 6.4 million euros for the first half of the year.

In a financial notice, Genomic states that the Nanterre Commercial Court is due to rule on its application at a hearing scheduled for November 15, 2023.

Should the court accept its application, the company will continue to operate during the observation period, the duration of which will be set by the court.

The court may, however, decide to open a judicial liquidation procedure, if it considers that the financing of an observation period is not assured.

As a result, the company's share price has been suspended since this morning on the Paris Bourse, until further notice.

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