GENFIT: Reports
Full-Year 2018 Financial Results:
cash position of €207.2m as of 12.31.2018
GENFIT achieved
significant development milestones in 2018:
-
Completed enrollment of interim
analysis cohort for phase 3 RESOLVE-IT trial in NASH
-
Announced positive results in
phase 2 trial of elafibranor in PBC
-
Entered into licensing
agreement with LabCorp® for NASH diagnostic
-
Launched a U.S. phase 2
investigator-initiated trial of nitazoxanide in patients with
NASH-induced fibrosis
Cash position of
€207.2 million as of December 31, 2018, compared to €273.8 million
as of December 31, 2017
Lille (France),
Cambridge (Massachusetts, United States), February 4, 2019 -
GENFIT (Euronext: GNFT - ISIN: FR0004163111), a late-stage
biopharmaceutical company dedicated to the discovery and
development of innovative therapeutic and diagnostic solutions in
metabolic and liver related diseases, today announces its annual
financial results for 2018. A summary of the consolidated financial
statements is included below.
Jean-François
Mouney, Chairman & CEO of GENFIT, commented: "The lead programs in our clinical and diagnostic pipeline,
in particular the later-stage ones in NASH and PBC, have moved
forward considerably and met our corporate 2018 milestones. We
completed enrollment for the interim analysis cohort of our phase 3
RESOLVE-IT trial of elafibranor in NASH, achieved positive results
in the phase 2 trial of elafibranor in PBC and accomplished
significant milestones in the regulatory and commercial development
of our biomarker program, leading to the signature of a licensing
agreement with LabCorp® in early January this year. Our objective
with this agreement is, in particular, to expand access to NIS4,
GENFIT's non-invasive in vitro diagnostic test, in order to
identify NASH patients who should be considered for therapeutic
intervention. Our program to reposition nitazoxanide in liver
fibrosis took shape with the launch of a U.S. phase 2 trial in
patients with NASH induced fibrosis. Additional pre-clinical
research results completed in 2018 suggest that elafibranor is
uniquely positioned as a backbone for combination therapies in
NASH, including with our nitazoxanide program.
Finally, we
believe our strong cash position allows GENFIT substantial
flexibility as we prepare for a potential conditional marketing
authorization for elafibranor in NASH in 2020."
Key 2018 R&D
Developments
January
2018
April
2018
-
GENFIT announced completion of the target
recruitment for the interim analysis cohort of the phase 3
RESOLVE-IT trial of elafibranor in NASH.
-
GENFIT also announced the positive outcome from
the 24-month pre-planned safety review by the Data Safety
Monitoring Board (DSMB) in the RESOLVE-IT phase 3 clinical trial
with elafibranor.
June 2018
August
2018
October
2018
December
2018
-
GENFIT announced the initiation of a phase 2
investigator-initiated clinical trial evaluating nitazoxanide) in
patients with NASH-induced fibrosis.
-
GENFIT also announced positive results from its
phase 2 trial of elafibranor in PBC.
-
Elafibranor met the primary endpoint of the
Phase 2 clinical trial, which was the change at week 12 in serum
alkaline phosphatase (ALP) from baseline. Both elafibranor doses
demonstrated significant decrease in mean ALP: -48% for 80 mg
-41% for 120 mg with +3% increase for placebo leading to highly
significant treatment effect versus placebo: -52% for 80 mg
(p<0.001) and -44% for 120 mg (p<0.001).
-
On the composite endpoint of the responder rate
for patients achieving serum ALP <1.67xUpper Limit of Normal
(ULN), an ALP decrease >15%, and total bilirubin (TB) <ULN,
elafibranor achieved the substantially higher response rates of 67%
for 80 mg and 79% for 120 mg as compared to 6.7% for placebo
(p=0.001 and p<0.001, respectively).
-
GENFIT provided an update in December on the
positive outcome from the 30-month pre-planned safety review by the
DSMB in the RESOLVE-IT phase 3 clinical trial with
elafibranor.
January
2019
Other Corporate
Events
-
On June 12, 2018, the Company, through the
endowment fund it founded, The NASH Education
Program(TM), organized the first International NASH Day, which
garnered significant interest from the international scientific and
medical communities, patients and media.
Full-Year 2018
Financial Results (consolidated IFRS accounts) (*)
A summary of the key aspects of
GENFIT's 2018 annual results are:
-
Cash, cash equivalents and other current
financial assets of €207.2 million at December 31, 2018 (€273.8
million at December 31, 2017) in a context of a significant
increase in operating expenses relating to the progression of the
R&D pipeline;
-
Operating income of €7.5 million (€6.9 million
at December 31, 2017) essentially from the Research Tax Credit,
which amounted to €7.3 million for 2018 compared with €6.5 million
in 2017;
-
Operating expenses of €77.0 million (€63.6
million in 2017) of which 87% represented R&D expenses. The
increase in operating expenses is due to:
-
the increase in contracted R&D expenses
resulting from the progression of the R&D program pipeline, of
which the majority related to expenses for the phase 3 elafibranor
trial in NASH, and to a lesser extent, the phase 2 trial of
elafibranor in PBC and the launch of the phase 2 trial of
nitazoxanide;
- an increase in payroll expense,
resulting mainly from changes in employee profiles, salary
increases, and the increase in headcount (from 125 at December 31,
2017 to 148 at December 31, 2018); and
- an increase in other operating
expenses in particular relating to intellectual property expenses
and fees and expenses in the preparation for the commercialization
of elafibranor in NASH.
(*) In the context of the
preparation of its 2018 consolidated financial statements, the
Company adjusted the financial statements previously published for
the 2017 fiscal year under IFRS. These changes do not affect the
cash position or the operating results, and are related to the
application of IFRS to deferred taxes on the OCEANE bonds issued in
October 2017. The corrections lead mainly to a decrease in the
consolidated net loss of €2.9 million. More information is provided
on Appendix 2.
-
Net cash flows from operations in 2018 and 2017
were €(56.1) million and €(49.9) million respectively, mainly due
to the increase in the Group's R&D activities;
-
Net cash flows from investment activities were
€(4.0) million in 2018 compared to €(2.9) million in 2017 ;
this change is mainly due to the additional amount allocated to the
liquidity agreement ;
-
Net cash flows from financing activities in 2018
and 2017 amounted to, €(6.5) million and €174.3 million,
respectively, following the issuance in 2017 of convertible bonds
(OCEANE) due October 16, 2022 in a private placement to
institutional investors for a nominal amount of approximately €180
million.
|
|
Year ended |
(in € millions) |
|
2017/12/31 (*) |
2018/12/31 |
Revenues and other income |
|
6.9 |
7.5 |
Research and development expenses |
|
(54.2) |
(67.0) |
General and administrative expenses |
|
(9.4) |
(9.8) |
Operating loss |
|
(56.7) |
(69.5) |
Net loss |
|
(55.7) |
(79.5) |
Net
cash flows used in operating activities |
|
(49.9) |
(56.1) |
Net
cash flows used in investment activities |
|
(2.9) |
(4.0) |
Net
cash flows provided by / (used in ) financing activities |
|
174.3 |
(6.5) |
Increase / (decrease) in cash and cash equivalents |
|
121.5 |
(66.6) |
Cash, cash equivalents and current financial assets |
|
273.9 |
207.2 |
(*)In the context of the
preparation of its 2018 consolidated financial statements, the
Company adjusted the financial statements previously published for
the 2017 fiscal year under IFRS. More information is
provided on Appendix 2 below.
The summary IFRS consolidated
financial statements for the year ended December 31, 2018 are
presented in the appendix at the end of this press release. The
2018 annual consolidated financial statements are available on the
"Investors" page of the GENFIT website.
Key 2019
Events
-
February 12, 2019: Frankfurt European Midcap
Event (Frankfurt, Germany)
-
February 25-26, 2019: Global NASH Congress
(London, UK)
-
February 27-March 1, 2019: Leerink Annual Global
Heathcare Conference (New York, NY - USA)
-
March 12-14, 2019: Barclays Global Healthcare
Conference (Miami, FL - USA)
APPENDIX 1
Annual
Consolidated
Financial
Results
at December 31,
2018
The Statements of Financial
Position, Statements of Operations and Statements of Cash Flow of
the Company were prepared in accordance International Financial
Reporting Standards (IFRS).
The audit procedures on the
consolidated financial statements have been performed. The
consolidated financial statements for the period ended December 31,
2018 were approved by Board of Directors on February 4, 2019 and
will be submitted to the shareholders at the Shareholders' Meeting
on June 13, 2019.
The full consolidated financial
statements as well as the notes to the consolidated financial
statements for the period ended December 31, 2018 are available on
GENFIT's website under the "Investors" tab. The annual financial
report, included in the registration document, will be available on
GENFIT's website before the end of April 2019.
Consolidated
Statement of Financial Position
ASSETS |
|
As of |
(in € thousands) |
|
2017/12/31 (*) |
2018/12/31 |
Non-current assets |
|
|
|
Intangible assets |
|
636 |
796 |
Property, plant and equipment |
|
6 324 |
7 764 |
Non-current trade and others receivables |
|
1 921 |
1 489 |
Other
non-current financial assets |
|
729 |
1 313 |
Deferred tax assets |
|
0 |
0 |
Total - Non-current assets |
|
9 611 |
11 362 |
Current assets |
|
|
|
Inventories |
|
4 |
4 |
Current trade and others receivables |
|
7 955 |
8 794 |
Other
current financial assets |
|
31 |
0 |
Other
current assets |
|
1 761 |
2 078 |
Cash
and cash equivalents |
|
273 820 |
207 240 |
Total - Current assets |
|
283 572 |
218 116 |
Total - Assets |
|
293 183 |
229 478 |
|
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY AND LIABILITIES |
|
As of |
(in € thousands) |
|
2017/12/31 (*) |
2018/12/31 |
Shareholders' equity |
|
|
|
Share
capital |
|
7 792 |
7 796 |
Share
premium |
|
251 932 |
251 554 |
Accumulated deficit |
|
(102 531) |
(158 897) |
Currency translation adjustment |
|
(8) |
6 |
Net
loss |
|
(55 728) |
(79 521) |
Total shareholders' equity - Group share |
|
101 457 |
20 939 |
Non-controlling interests |
|
0 |
0 |
Total - Shareholders' equity |
|
101 457 |
20 939 |
Non-current liabilities |
|
|
|
Non-current convertible loans |
|
154 539 |
159 176 |
Other
non-current loans and borrowings |
|
6 978 |
7 255 |
Non-current deferred income and revenue |
|
2 |
1 |
Non-current employee benefits |
|
936 |
1 085 |
Deferred tax liabilities |
|
2 165 |
1 773 |
Total - Non-current liabilities |
|
164 620 |
169 291 |
Current liabilities |
|
|
|
Current convertible loans |
|
1 329 |
1 312 |
Other
current loans and borrowings |
|
1 834 |
1 848 |
Current trade and other payables |
|
23 580 |
35 974 |
Current deferred income and revenue |
|
1 |
1 |
Current provisions |
|
361 |
112 |
Total - Current liabilities |
|
27 106 |
39 248 |
Total - Shareholders' equity &
liabilities |
|
293 183 |
229 478 |
(*)In the context of the
preparation of its 2018 consolidated financial statements, the
Company adjusted the financial statements previously published for
the 2017 fiscal year under IFRS. More information is provided on
Appendix 2 below.
Statement of
Operations
|
|
Year ended |
(in € thousands, except earnings per share
data) |
|
2017/12/31(*) |
2018/12/31 |
|
|
|
|
Revenues and other income |
|
|
|
Revenue |
|
118 |
69 |
Other
income |
|
6 737 |
7 425 |
Revenues and other income |
|
6 856 |
7 494 |
|
|
|
|
Operating expenses and other operating income
(expenses) |
|
|
|
Research and development expenses |
|
(54 189) |
(67 024) |
General and administrative expenses |
|
(9 421) |
(9 793) |
Other
operating income (expenses) |
|
60 |
(162) |
|
|
|
|
Operating loss |
|
(56 695) |
(69 484) |
|
|
|
|
Financial income |
|
642 |
728 |
Financial expenses |
|
(3 096) |
(11 118) |
Financial loss |
|
(2 453) |
(10 391) |
|
|
|
|
Net loss before tax |
|
(59 148) |
(79 875) |
|
|
|
|
Income
tax expense |
|
3 420 |
354 |
|
|
|
|
Net loss |
|
(55 728) |
(79 521) |
Attributable to owners of the Company |
|
(55 728) |
(79 521) |
Attributable to non-controlling interests |
|
0 |
0 |
|
|
|
|
Basic and diluted loss per share |
|
|
|
Basic
loss per share (€/share) |
|
(1.79) |
(2.55) |
(*)In the context of the preparation of its 2018
consolidated financial statements, the Company adjusted the
financial statements previously published for the 2017 fiscal year
under IFRS. More information is provided on Appendix 2
below.
Statement of Cash
Flows
|
|
Year ended |
Year ended |
(in € thousands) |
|
31/12/2017 |
31/12/2018 |
|
|
|
|
Cash flows from operating activities |
|
|
|
+ Net loss |
|
(55 728) |
(79 521) |
|
|
|
|
Reconciliation of net loss to net cash used in
operating activities |
|
|
|
Adjustments for: |
|
|
|
+ Amortization |
|
1 226 |
1 819 |
+ Depreciation and impairment charges |
|
186 |
(208) |
+ Expenses related to share-based compensation |
|
278 |
787 |
- Gain / (loss) on disposal of property, plant and
equipment |
|
8 |
(2) |
+ Net finance expenses |
|
2 296 |
10 971 |
+ Income tax expense |
|
(3 420) |
(354) |
+ Other non-cash items |
|
17 |
0 |
|
|
|
|
Operating cash flows before change in working capital |
|
(55 137) |
(66 507) |
|
|
|
|
Change in: |
|
|
|
Decrease / (increase) in inventories |
|
10 |
(0) |
Increase in trade receivables and other assets |
|
(2 106) |
(724) |
Increase in trade payables and other liabilities |
|
7 364 |
11 056 |
Change in working capital |
|
5 268 |
10 332 |
|
|
|
|
Income tax paid |
|
13 |
93 |
|
|
|
|
Net cash flows used in operating
activities |
|
(49 856) |
(56 081) |
|
|
|
|
Cash flows from investment activities |
|
|
|
- Acquisition of property, plant and equipment |
|
(2 800) |
(2 938) |
+ Proceeds from disposal of property, plant and
equipment |
|
15 |
3 |
- Acquisition of financial instruments |
|
(163) |
(1 050) |
+ Proceeds from sale of financial instruments |
|
0 |
0 |
- Acquisition of subsidiary, net of cash acquired |
|
0 |
0 |
Net cash flows used in investment
activities |
|
(2 948) |
(3 986) |
|
|
|
|
Cash flows from financing activities |
|
|
|
+ Proceeds from issue of share capital (net) |
|
0 |
0 |
+ Proceeds from subscription / exercise of share
warrants |
|
37 |
37 |
+ Proceeds from new loans and borrowings net of issue
costs |
|
177 338 |
1 800 |
- Repayments of loans and borrowings |
|
(1 655) |
(2 000) |
- Financial interests paid (including finance
lease) |
|
(1 372) |
(6 351) |
Net cash flows provided by / (used in )
financing activities |
|
174 348 |
(6 514) |
|
|
|
|
Increase / (decrease) in cash and cash
equivalents |
|
121 544 |
(66 580) |
Cash and cash equivalents at the beginning of the
period |
|
152 277 |
273 820 |
Cash and cash equivalents at the end of
the period |
|
273 820 |
207 240 |
APPENDIX 2
Correction for
Technical Errors on the Annual Consolidated
Financial Results
for the year ended December 31, 2017
In the context of the preparation of its 2018
consolidated financial statements, and in accordance with IAS 8,
the Company adjusted the financial statements previously published
for the 2017 fiscal year with respect to the accounting for the
OCEANE issuance.
These changes were approved by the
Board of Directors at its meeting on February 4, 2019.
These changes have no impact on
the operating results or the cash position, and the impacts on the
consolidated statements of operations, consolidated statements of
financial position and the consolidated statements of changes in
equity are presented below.
The following table shows the
impact on the Net Income (Loss) for the 2017 fiscal year, compared
to previously published figures:
|
|
Year ended |
Correction: |
Correction: |
Year ended |
See |
|
|
2017/12/31 |
proper effective |
proper |
2017/12/31 |
explanatory |
|
|
as published |
interest rate of |
accounting |
as corrected |
note below |
(in € thousands, except earnings per share data) |
|
|
convertible loan |
under IAS 12 |
|
|
|
|
|
|
|
|
|
Revenues and other income |
|
|
|
|
|
|
Revenue |
|
118 |
|
|
118 |
|
Other
income |
|
6 737 |
|
|
6 737 |
|
Revenues and other income |
|
6 856 |
0 |
0 |
6 856 |
|
|
|
|
|
|
|
|
Operating expenses and other operating income
(expenses) |
|
|
|
|
|
|
Research and development expenses |
|
(54 189) |
|
|
(54 189) |
|
General and administrative expenses |
|
(9 421) |
|
|
(9 421) |
|
Other
operating income (expenses) |
|
60 |
|
|
60 |
|
|
|
|
|
|
|
|
Operating loss |
|
(56 695) |
0 |
0 |
(56 695) |
|
|
|
|
|
|
|
|
Financial income |
|
642 |
|
|
642 |
|
Financial expenses |
|
(2 168) |
(928) |
|
(3 096) |
A |
Financial loss |
|
(1 526) |
(928) |
0 |
(2 453) |
|
|
|
|
|
|
|
|
Net loss before tax |
|
(58 220) |
(928) |
0 |
(59 148) |
|
|
|
|
|
|
|
|
Income
tax expense |
|
(384) |
|
3 804 |
3 420 |
B |
|
|
|
|
|
|
|
Net loss |
|
(58 604) |
(928) |
3 804 |
(55 728) |
|
The corrections lead to an improvement in the net
income (loss) of €2.9 million, bringing it to €(55.7) million
compared to €(58.6) million in the previously published
accounts.
The accounting changes are related
to:
A |
Financial expenses
|
B |
Recognition of
-
A deferred tax liability related to the
equity component of the OCEANE (€19,960k) for €5,648k, as a
decrease of equity on October 16, 2017;
-
A deferred tax liability as of December
31, 2017 related to the tax deduction of the OCEANE issuance costs
and the difference between the effective interest rate and the
portion of deductible coupon (€120k net), as an increase of the
financial expenses in net result (deferred tax expense);
-
A deferred tax asset arising from the
use of net operating losses (NOLs) carried forward up to the
deferred tax liabilities mentioned above, taking into account the
French tax rule which limits considerations of such NOLs to 50%
(above one million Euros), and the timing of reversal of these
deferred tax liabilities, for an amount of €3,724k at the
transaction date (deferred tax income), the use of NOLs for the
period of €121k (deferred tax expense) and the reversal of the
previously recognized deferred tax expense as of December 31, 2017
for €321k (decrease of deferred tax expense), resulting in an
aggregate amount of €3,924k of reduction of deferred tax expense
(or a net deferred tax income).
|
As a result, the net loss per
share for the 2017 fiscal year decreased from €1.88 to €1.79.
The following table shows the impact of the
corrections of these errors in the consolidated statements of
operations at December 31, 2017:
SHAREHOLDERS' EQUITY AND LIABILITIES |
|
As of |
Correction: |
Correction: |
As of |
See |
|
|
2017/12/31 |
proper effective |
proper |
2017/12/31 |
explanatory |
|
|
as published |
interest rate of |
accounting |
as corrected |
note below |
(in € thousands) |
|
|
convertible loan |
under IAS 12 |
|
|
|
|
|
|
|
|
|
Shareholders' equity |
|
|
|
|
|
|
Share
capital |
|
7 792 |
|
|
7 792 |
|
Share
premium |
|
257 580 |
|
(5 648) |
251 932 |
C |
Accumulated deficit |
|
(102 531) |
|
|
(102 531) |
|
Currency translation adjustment |
|
(8) |
|
|
(8) |
|
Net
loss |
|
(58 604) |
(928) |
3 804 |
(55 728) |
D |
Total shareholders' equity - Group share |
|
104 229 |
(928) |
(1 844) |
101 457 |
|
Non-controlling interests |
|
0 |
|
|
0 |
|
Total - Shareholders' equity |
|
104 229 |
(928) |
(1 844) |
101 457 |
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
Non-current convertible loans |
|
153 611 |
928 |
|
154 539 |
E |
Other
non-current loans and borrowings |
|
6 978 |
|
|
6 978 |
|
Non-current deferred income and revenue |
|
2 |
|
|
2 |
|
Non-current employee benefits |
|
936 |
|
|
936 |
|
Deferred tax liabilities |
|
321 |
|
1 844 |
2 165 |
F, G |
Total - Non-current liabilities |
|
161 848 |
928 |
1 844 |
164 620 |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Current convertible loans |
|
1 329 |
|
|
1 329 |
|
Other
current loans and borrowings |
|
1 834 |
|
|
1 834 |
|
Current trade and other payables |
|
23 580 |
|
|
23 580 |
|
Current deferred income and revenue |
|
1 |
|
|
1 |
|
Current provisions |
|
361 |
|
|
361 |
|
Total - Current liabilities |
|
27 106 |
0 |
0 |
27 106 |
|
|
|
|
|
|
|
|
Total - Shareholders' equity &
liabilities |
|
293 183 |
0 |
(0) |
293 183 |
|
The balance sheet at December 31,
2017 was adjusted due to the following changes, in particular:
The overall impact of these corrections is a
€2,772k decrease in equity and an increase in non-current
liabilities in the same amount.
Additional details are provided in notes 6.2.3 to
the 2018 consolidated financial statements available on GENFIT's
website (www.genfit.com) under the "Investors" tab.
About
elafibranor
Elafibranor is GENFIT's lead
pipeline product. Elafibranor is an oral once-daily treatment, and
a first-in-class drug acting via dual peroxisome
proliferator-activated alpha/delta pathways developed to treat, in
particular, nonalcoholic steatohepatitis (NASH). Elafibranor is
believed to address multiple facets of NASH, including
inflammation, insulin sensitivity, lipid/metabolic profile, and
liver markers. Elafibranor also presents a particularly interesting
profile to potentially treat PBC, a rare liver disease.
About
NASH
Nonalcoholic steatohepatitis, or
NASH, is a liver disease characterized by an accumulation of fat,
inflammation and degeneration of hepatocytes, and may ultimately
lead to life-threatening conditions like cirrhosis, liver failure
or liver cancer requiring liver transplant.
About PBC
Primary biliary cholangitis, or
PBC, is a chronic disease in which bile ducts in the liver are
gradually destroyed. The damage to bile ducts can inhibit the
liver's ability to rid the body of toxins, and can lead to scarring
of liver tissue known as cirrhosis.
About
GENFIT
GENFIT is a late-stage
biopharmaceutical company dedicated to the discovery and
development of innovative therapeutic and diagnostic solutions in
metabolic and liver related diseases where there are considerable
unmet medical needs, corresponding to a lack of approved
treatments. GENFIT is a leader in the field of nuclear
receptor-based drug discovery with a rich history and strong
scientific heritage spanning almost two decades. Its most advanced
drug candidate, elafibranor, is currently evaluated in pivotal
Phase 3 clinical trial ("RESOLVE-IT") as a potential treatment for
nonalcoholic steatohepatitis, or NASH. NASH is considered by
regulatory authorities as a medical emergency because of its
potentially severe consequences, although often asymptomatic until
late stages, and because its prevalence is on the rise. Elafibranor
has also obtained positive preliminary results in a Phase 2
clinical trial in primary biliary cholangitis (PBC), a severe
chronic liver disease. As part of GENFIT's comprehensive approach
to clinical management of NASH patients, the company is also
developing a new, non-invasive and easy-to-access blood-based
in vitro diagnostic, or IVD, test to identify
patients with NASH who may be appropriate candidates for drug
therapy. With facilities in Lille and Paris, France, and Cambridge,
MA, USA, the Company has approximately 150 employees. GENFIT is a
public company listed in compartment B of Euronext's regulated
market in Paris (Euronext: GNFT - ISIN: FR0004163111).
www.genfit.com
FORWARD LOOKING
STATEMENT/DISCLAIMER
This press release contains
certain forward-looking statements. Although the Company believes
its expectations are based on reasonable assumptions, these
forward-looking statements are subject to numerous risks and
uncertainties, which could cause actual results to differ
materially from those expressed in, or implied or projected by, the
forward-looking statements. These risks and uncertainties include,
among other things, the uncertainties inherent in research and
development, including related to safety, biomarkers, progression
of, and results from, its ongoing and planned clinical trials,
including its RESOLVE-IT Phase 3 trial, review and approvals by
regulatory authorities, such as the FDA or the EMA, of its drug and
diagnostic candidates, the success of any in-licensing strategies,
the Company's continued ability to raise capital to fund its
development, as well as those discussed or identified in the
Company's public filings with the AMF, including those listed in
Section 4 "Main Risks and Uncertainties" of the Company's 2017
Registration Document registered with the French Autorité des
Marchés Financiers on April 27, 2018 under n° R.18-032, which is
available on GENFIT's website (www.GENFIT.com) and on the website
of the AMF (www.amf-france.org) and as updated by the 2018 Half
Year Business and Financial Report and available on the Investors
page of GENFIT's website. Other than as required by applicable law,
the Company does not undertake any obligation to update or revise
any forward-looking information or statements. This press release
and the information contained herein do not constitute an offer to
sell or a solicitation of an offer to buy or subscribe to shares in
GENFIT in any country. This press release has been prepared in both
French and English. In the event of any differences between the two
texts, the French language version shall supersede.
CONTACT
GENFIT |
Investors
Naomi EICHENBAUM - Investor
Relations | Tel: +1 (617) 714 5252 | investors@genfit.com
PRESS RELATIONS
| Media
Hélène LAVIN - Press relations |
Tel: +333 2016 4000 | helene.lavin@genfit.com
GENFIT | 885 Avenue Eugène
Avinée, 59120 Loos - FRANCE | +333 2016 4000 |
www.GENFIT.com
2019.02.04 PR GENFIT 2018 Financial
Results
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: GENFIT via Globenewswire
Genfit (EU:GNFT)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Genfit (EU:GNFT)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024