Sensorion, a clinical-stage biotechnology company focused on hearing loss therapies, announced on July 29, 2026, that it will implement a reverse share split to streamline its capital structure. The move consolidates 50 existing shares with a par value of €0.10 into one new share with a par value of €5, reducing the total number of outstanding shares from 515,648,600 to approximately 10,312,972. This technical adjustment does not alter the total value of shareholders' holdings or the company's overall share capital but aims to improve marketability and compliance with listing requirements on Euronext Growth Paris.

The reverse share split was authorized by the Board of Directors on July 23, 2026, pursuant to the twelfth extraordinary resolution passed at the General Shareholders’ Meeting on May 11, 2026. The Chief Executive Officer finalized the implementation terms on July 27, 2026, and published the official notice in the Bulletin des Annonces Légales Obligatoires (BALO) on July 29, 2026. The process is governed by Articles L. 228-6-1 and R. 228-12 of the French Commercial Code.

Implementation Timeline

Shareholders must be aware of key dates surrounding the consolidation. The exchange period opens on August 13, 2026, allowing investors to adjust their holdings to avoid fractional shares. Trading in existing shares concludes on September 14, 2026, while the new shares begin trading on September 15, 2026.

Fractional Shares and Treasury Adjustments

Investors holding numbers of existing shares not divisible by 50 must purchase or sell fractional shares before September 14, 2026, to ensure full conversion. Those unable to do so will receive compensation from their financial intermediaries between September 17, 2026, and October 17, 2026, based on market sales of the fractional portions. Non-consolidated shares remaining after the deadline will lose voting rights and dividend entitlements.

To achieve a whole number of new shares, Sensorion waived the consolidation of four treasury shares, which were subsequently cancelled. This reduced the resources under its liquidity agreement with Kepler Cheuvreux, originally established on December 15, 2017, in accordance with AMF Decision No. 2021-01 dated June 22, 2021. As of July 27, 2026, the company holds 334,749 treasury shares with associated resources of €38,345,37.

What the Numbers Show

The reduction in share count from over 515 million to approximately 10.3 million represents a significant contraction in the float, likely aimed at meeting minimum price or liquidity thresholds required by European exchanges. While the par value increases fiftyfold to €5, the proportional ownership and economic value for each investor remain unchanged. The suspension of derivative exercise rights from August 14 to September 17, 2026, ensures no dilution or arbitrage opportunities arise during the transition period.

Sensorion has selected SENS-601, a gene therapy targeting GJB2-related hearing loss, as its lead program following a strategic review of its pipeline. The company filed Clinical Trial Applications in Canada and France to evaluate the safety, tolerability, and efficacy of intra-cochlear administration of SENS-601 in pediatric patients. The French Agency (ANSM) granted a Fast Track procedure, which significantly reduces the assessment period compared to the standard pathway. Sensorion targets an IND submission in the U.S. and a submission in Australia by year-end 2026.

As part of the strategic shift, Sensorion will discontinue the clinical development of SENS-501 for OTOF-related hearing loss and end recruitment in the Audiogene trial. The Board and management determined that concentrating resources on SENS-601, which addresses the most common cause of genetic deafness, is the optimal decision given the larger unmet need and the absence of approved therapies. The scientific and operational platform developed for SENS-501 is directly transferrable to SENS-601, providing a foundational head start.

SENS-601 originated from a gene therapy platform co-developed with the Institut Pasteur. It aims to treat hearing loss linked to mutations in the GJB2 gene, which is responsible for approximately 50% of autosomal recessive non-syndromic hearing loss. The therapy has the potential to address pediatric congenital deafness, progressive hearing loss in children, and early onset presbycusis in adults. The program is partially funded by the French State as part of the France 2030 investment plan.

Fred Chereau, Chief Executive Officer of Sensorion, stated that dedicating gene therapy development resources to SENS-601 is the right strategic decision. He emphasized that GJB2-related hearing loss affects a large patient population and that the foundation built through SENS-501 provides a meaningful head start. Chereau expressed confidence in the regulatory progress and the strength of the partnership with the Institut Pasteur.

Christine Petit, Professor at Institut Pasteur and laureate of the Kavli Prize in Neurosciences, highlighted the robust data demonstrating significant hearing restoration after SENS-601 administration in animal models. She noted that the scientific and clinical advances from the Audiogene trial are directly guiding the development of SENS-601. The collaboration involves multidisciplinary teams from the Institut Pasteur, Necker Enfants-Malades Hospital, and the Fondation Pour l'Audition.

Sensorion has extended its cash runway until the end of 2027 to support the execution of the clinical advancement of SENS-601 and the generation of first-in-human data. The company remains committed to ensuring the long-term follow-up of all patients enrolled in the Audiogene trial in accordance with regulatory requirements.

Key Program Details