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Genfit Market Updates on Clinical Progress; Phase 3 on the way to chronic liver disease (PBC)


Genfit ( GNFT) announced on Thursday the full results of 2021, giving a complete update of its clinical program.

Critically, the Franco-American Biotechnology Company has confirmed that its Phase 3 study of its leading candidate, elafibrinor for the treatment of primary biliary cholangitis (PBH) – a chronic disease in which the bile ducts in the liver are slowly destroyed, – returns to its course after a delay at the end of last year due to the massive spread of the omicron variant of COVID-19.

Genfit said in a press release that its “number of recruits increased significantly in the first quarter of 2022” when Omicron returned to normal.

The company said the survey of patients will stop next week and it expects to receive data on key indicators in the second quarter of 2023 according to its previous guidelines.

The company ended 2021 with 258.8 million euros (280.8 million US dollars) in cash and equivalents.

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Investment dissertation

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Genfit’s common stock has been traded on Euronext since 2006, and its ads have been quoted on the Nasdaq since March 2019.

Over the past two years, investors have had little reason to cheer, but we find reasons for optimism, especially at the current level.

  • Thursday’s close of $ 3.92 per ADS gives Genfit a market capitalization of just $ 199 million.
  • At a cash level of $ 281 million at the end of 2021, investors in Genfit, in fact, receive free call option to a company with a promising Phase 3 asset in PBC.
  • 90,000 patients in the US in the EU are destined for second-line treatment in PBC, which has a market potential of $ 1 billion.
  • In December 2021, Genfit and Ipsen ( IPSEY), a French multinational pharmaceutical company worth $ 10 billion, has entered into a strategic licensing deal for elafibranor Genfit for PBC.
  • Genfit has received € 120 million (US $ 130 million) in advance and is eligible for up to € 360 million (US $ 390 million) in additional payments plus multi-level royalties of up to 20%.
  • Ipsen also became an 8% shareholder of Genfit through an investment of 28 million euros ($ 30 million).


Source: Stock news

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