Genfit: financing secured until the end of 2025

(CercleFinance.com) - Biopharmaceutical company Genfit ended the third quarter with cash and cash equivalents of €96 million, providing the rare liver disease specialist with financial visibility until the end of 2025.


At September 30, the Company's cash and cash equivalents stood at 96 million euros, compared with 61.6 million euros at June 30, 2024, and 77.8 million euros at December 31, 2023.

The company estimates that this amount should enable it to finance its operating expenses and capital expenditure requirements until at least the beginning of the fourth quarter of 2025.

In a press release, Genfit points out that its cash burn - due to its research and development efforts - has been fuelled by revenues received under its licensing and collaboration agreement with Ipsen.

This cooperation has already resulted in royalties linked to the first sales of Iqirvo (elafibranor) by Ipsen in the United States for the treatment of primary biliary cholangitis (PBC), the company points out.

On the Paris Stock Exchange, Genfit's share price fell by more than 7% on Friday morning following these announcements, but still posted a gain of more than 40% since the start of the year.

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