- Topline interim results from Phase 3 clinical trial
RESOLVE-IT expected by the end of May 2020
- Cash position of €277MM as of December 31, 2019 (vs
€207MM as of December 31, 2018)
- Significant milestones achieved in 2019:
- Release of full dataset from the successful Phase 2
clinical trial of elafibranor in PBC, leading to “Breakthrough
Therapy” and “Orphan Drug” designations
- Strategic partnership with Terns Pharmaceuticals for
the development and commercialization of elafibranor in Greater
China, and strategic R&D agreement ($35MM upfront payment, and
up to $193MM in milestones payment)
- Licensing agreement with LabCorp-Covance for NIS4, a
non-invasive diagnostic tool for the identification of NASH
patients with fibrosis
- Global offering and U.S. IPO on Nasdaq, raising gross
proceeds totaling $155MM
- Change in governance and strengthening of US
footprint
- Conference call scheduled for April 9, 2020 at 8:00am
EDT / 14:00 CEST
Lille (France), Cambridge
(Massachusetts, United States), April 8, 2020 – GENFIT
(Nasdaq and Euronext: GNFT), a late-stage biopharmaceutical company
dedicated to the discovery and development of innovative
therapeutic and diagnostic solutions in metabolic and liver related
diseases, today announced its annual financial results for the full
year ended December 31, 2019. A summary of the consolidated
financial statements is included below.
Pascal Prigent, CEO of GENFIT,
commented: “2019 has been a year of significant progress for GENFIT
and, despite the current challenges due to the COVID-19 pandemic,
2020 is starting strong with a critical milestone coming up
shortly.
We are targeting the end of May to communicate
the interim results of RESOLVE-IT, our Phase 3 clinical trial in
patients with non-alcoholic steatohepatitis (NASH). We locked the
study database in February and are now adjusting the study protocol
and statistical analysis plan following recent receipt of FDA
insights. We are working with our CRO (Clinical Research
Organization) partner to better understand the time needed to
incorporate these changes, conduct the analyses, and execute
thorough standard quality checks on both side – a process that
could be impacted by the fast-evolving COVID-19 pandemic. We are
eagerly anticipating these results and are hopeful that they will
support that elafibranor is safe and efficacious for the treatment
of NASH, a disease that is affecting millions of patients globally,
who are currently without any approved treatments.
In 2019, GENFIT also presented positive results
from our Phase 2 trial in patients with primary biliary cholangitis
(PBC) at major international congresses, showing that elafibranor
was significantly better than placebo for both primary and
composite endpoints of the study. Elafibranor was awarded
“breakthrough therapy” and “orphan drug” designations from the FDA
and EMA/FDA, respectively. PBC is a disease where there is still
significant unmet medical need, and thus we are committed to the
development of elafibranor for this indication. GENFIT also
furthered the development of NIS4, our non-invasive diagnostic tool
for use in identifying NASH with fibrosis patients who are at risk
for progression and who may benefit from treatment. This past year,
NIS4 became available for use in clinical research through our
partner Labcorp-Covance and has been selected by several sponsors
to assist with patient identification and recruitment for NASH
clinical trials.
Beyond clinical development, 2019 was a year of
important commercial activity. GENFIT signed two major deals: one
with LabCorp-Covance for the development of NIS4, and secondly with
Terns Pharmaceuticals for both the licensing rights of elafibranor
in Greater China and an ambitious R&D partnership. We also
continued to strengthen our commercial team, through the hiring of
new marketing talents and by partnering with leading consultancies.
Together, we executed several market research and payer research
studies providing valuable insight on needs and expectations of
patients, healthcare professionals and payers.
Earlier in the year, we solidified our foothold
in the U.S. with a successful global offering and Nasdaq initial
public offering (IPO) raising gross proceeds of $155MM. Our balance
sheet was further bolstered with a $35MM upfront payment from Terns
Pharmaceuticals and we finished 2019 with a cash position of
€277MM. In September, I had the pleasure of stepping into a new
role as CEO with co-founder Jean-François Mouney choosing to
transition to full-time leadership as Chairman of the Board, and
GENFIT expanded our Executive Committee with the recruitment of a
new CMO and the promotion of our Head of Diagnostic business unit.
Combined with the relocation of our COO, Dean Hum, to our
Cambridge, Massachusetts office, roughly half of our leadership
team is now based in the U.S.
GENFIT, similar to many biotechnology companies,
is affected by the COVID-19 pandemic. The RESOLVE-IT extension
phase remains on-going with a few adjustments to protect our
patients but, as recently communicated, the remainder of our
clinical programs have been put on hold. It is still too early to
accurately assess the impact these operational delays will have on
our regulatory timelines for NASH, but at this stage, we estimate
the timelines to shift by one to two quarters and expect to file
the NDA for elafibranor in NASH in 1H21.”
Financial results
Key
figures (consolidated) * |
|
|
(€
thousands, except earnings per share data) |
|
|
Dec
31, 2018 |
Dec
31, 2019 |
Revenues and other incomes |
7 494 |
40 961 |
R&D
expenditure |
(67
024) |
(66 170) |
General and
administrative expenses |
(9
076) |
(17
265) |
Commercial and
marketing expenses |
(717) |
(13 708) |
Other
operating expenses |
(162) |
(1
649) |
Operating loss |
(69 484) |
(57 832) |
Financial
income |
728 |
5
221 |
Financial
expenses |
(11 118) |
(13 110) |
Financial loss |
(10 391) |
(7 889) |
Net loss
before tax |
(79 875) |
(65 721) |
Income tax
benefit |
354 |
576 |
Net loss |
(79 521) |
(65 144) |
Basic
and diluted loss per share (€) |
(2.55) |
(1.76) |
Cash and cash equivalents |
207 240 |
276 748 |
* Financial statements are not audited. The audit procedures by
the Statutory Auditors are underway. The Group adopted IFRS 16
Leases for the first time on January 1, 2019
Revenues and other incomes
-
The main contributor to our revenue stream was the $35MM upfront
payment received from Terns Pharmaceuticals for the licensing
rights of elafibranor in NASH and PBC in Greater China.
Operating results and expenses
- R&D expenditures were stable and aligned with our sustained
effort to progress both clinical trials and R&D activities in
the diagnostic field.
- The main driver behind the increased level of expenditures is
the ambitious market access, commercial and marketing plan designed
to support our Launch Excellence program which is currently driven
by an expanding team of internal experts and external
consultants.
Cash position
-
Cash position of €277MM, increased versus last year, thanks to the
global financing and U.S. IPO on Nasdaq in March 2019, and the
upfront payment received by Terns Pharmaceuticals in July 2019.
2020 Outlook
Clinical and regulatory
update
- The announcement of the Phase 3 RESOLVE-IT interim results is
now expected by the end of May. We will disclose topline results on
the primary efficacy endpoint (the resolution of NASH without
worsening of fibrosis), the key secondary endpoints (the
improvement of fibrosis, and the recently elevated metabolic
parameters) and safety. We anticipate presenting these data at one
of the major hepatology congresses in the second part of the year
pending confirmation of dates.
- All other clinical trials have been paused or postponed due to
the COVID-19 pandemic, but will resume as soon as the situation
allows clinical centers to ensure safety for patients and
healthcare providers. All supporting activities pertaining to
continuation of ongoing studies or the initiation of new studies
will continue in order to minimize potential delays when the
pandemic crisis subsides. As the situation evolves, further
guidance will be provided on the following programs currently
on-hold:
- Phase 3 clinical trial evaluating elafibranor in PBC;
- Phase 2 clinical trials evaluating potential synergies between
elafibranor and antidiabetic drugs from the GLP-1 agonist class,
and from the SGLT2 inhibitor class;
- Phase 2 clinical trial evaluating elafibranor in pediatric
patients with NASH;
- Phase 2 clinical trial evaluating elafibranor’s efficacy on
liver fat composition in patients with NAFLD, a known precursor for
NASH;
- Phase 1 clinical trials required for the NASH NDA dossier,
which include pharmacokinetic, food effect and bioequivalence
studies;
- Phase 2 clinical trial evaluating NTZ in fibrosis.
- NIS4 development will continue, aiming for FDA submission of
the IVD (In Vitro Diagnostic) in 1H21.
Commercial
update
- Assuming positive Phase 3 RESOLVE-IT interim results for
elafibranor in NASH, GENFIT will:
- prepare the full dossier for the NDA submission now targeted in
1H21;
- consolidate its global market access and commercial strategy
for elafibranor in NASH, capitalizing on the valuable insights
gained from the extensive market research effort initiated in 2019,
to shape the market and optimize potential sales uptake at the time
of launch;
- NIS4 technology will continue to be deployed in the clinical
research field through our commercial partner LabCorp-Covance, and
expansion plans are underway, with a goal to commercialize this
technology as a Laboratory Developed Test (LDT) beyond the clinical
research environment. This 2H20 expected roll-out is considered as
an essential step aimed at developing the recognition of the NIS4
technology, within the KOL community, and ahead of the IVD FDA
submission.
Financial
update
-
GENFIT does not provide guidance on expected cash burn and
anticipated cash runway. Expenditures in 2020 will strongly depend
on the nature of the topline results from the RESOLVE-IT Phase 3
clinical trial, which remain unknown as of today.
2019 Key Highlights
Clinical and regulatory
milestones
·Investigation of elafibranor
in NASH
- In May and November, GENFIT announced Data and Safety
Monitoring Board (DSMB) recommendations for the continuation of the
Phase 3 RESOLVE-IT study of elafibranor in NASH without
modification following their review at 36- and 42-months,
respectively;
- In May, GENFIT announced the initiation of a combination
therapy clinical program in NASH to investigate elafibranor as a
backbone in combination with a GLP-1 agonist and in combination
with an SGLT-2 inhibitor. The metabolic mechanisms of elafibranor
(a PPAR alpha/delta agonist) and the mechanisms of other therapies
may provide additive or synergistic effects by addressing the
underlying drivers of NASH progression;
- In early June, GENFIT launched a Phase 2 trial to evaluate
elafibranor's activity on hepatic lipid composition for
NAFLD. The study is designed to explore how elafibranor’s
pluripotent PPAR alpha and delta mechanism of action, could be
beneficial by improving quantity and quality of fat in the liver,
specifically targeting the more harmful, lipotoxic fat subtypes
that buildup in NAFLD and drive progression to NASH.
·Investigation of elafibranor
in PBC
- In April, at EASL ILC, GENFIT presented detailed data from the
Phase 2 clinical trial of elafibranor in PBC, showing a reduction
in alkaline phosphatase (ALP) of 52% (80mg) and 44% (120mg) when
compared to placebo (p<0.001). In addition, elafibranor
demonstrated a statistically significant response rate of 67%
(80mg, p=0.002) and 79% (120mg, p<0.001) versus 6.7% (placebo)
on the composite endpoint previously used for regulatory approval
of the current second line treatment. Elafibranor was associated
with significant improvements in cholestatic markers, reduction on
immune/inflammation markers, decrease in bile acid precursors, and
improvement in metabolic markers. Additional data also suggested
potential improvement in pruritus, which will be further evaluated
in a Phase 3 study. The Phase 2 efficacy and safety data are
supportive of longer-term, larger scale studies in patients with
PBC;
- In April, the FDA granted elafibranor “Breakthrough Therapy”
designation for the treatment of PBC in adults with inadequate
response to UDCA, and in July the FDA and EMA granted elafibranor
“Orphan Drug” designation for PBC.
·NIS4
-
At AASLD, in November 2019, GENFIT presented new data suggesting
that NIS4 was able to outperform other non-invasive diagnostics in
identifying NASH with fibrosis in people with type 2 diabetes, a
known risk-factor for NASH.
Commercial
milestones
- In January 2019, GENFIT announced a licensing agreement with
LabCorp-Covance to expand access to its NIS4 technology for the
identification and monitoring of patients with NASH and fibrosis
for the clinical research market. NIS4, a non-invasive blood-based
tool, is now utilized by LabCorp-Covance in their clinical research
setting for the identification of patients with NASH and fibrosis
(NAS>4, F>2), to optimize patient enrollment in clinical
trials;
- In late June, GENFIT announced a $228MM strategic partnership
deal with Terns Pharmaceuticals for the development and
commercialization of elafibranor for the treatment of NASH and PBC
in Greater China. GENFIT received a $35MM upfront payment from
Terns, and is eligible to receive up to $193MM in potential
clinical, regulatory, and commercial milestone payments, as well as
mid-teen percentage royalties on sales in the territory.
Governance and organizational
evolution
·Leadership
- In September, GENFIT announced the appointment of Pascal
Prigent as CEO, and Jean-François Mouney’s decision to transition
to full-time Chairman of the Board. The team also added Dr. Carol
L. Addy as Chief Medical Officer, based in Cambridge,
Massachusetts;
- Later in September, GENFIT announced the appointments of Dr.
Dean Hum as President of GENFIT Corp. and Dr. Suneil Hosmane as
Head of Global Diagnostics, both based at GENFIT’s U.S.
headquarters in Cambridge, Massachusetts.
·Corporate headcount growth
-
In 2019, GENFIT’s global headcount increased from 148 to 194
employees, through new department creation and expansion of
existing teams: market access, commercial, medical affairs,
pharmacovigilance, etc.
Conference Call on April 9, 2020 at 8:00 AM EDT / 14:00
CEST
-
GENFIT will host a Full-Year 2019 Financial Results and Corporate
Update conference call on Thursday, April 9, 2020 at 8:00 AM
EDT/14:00 CEST. The conference call will be accessible on the
investor page of our website, under the events section at
https://ir.genfit.com/ or by calling 877-407-9167 (toll-free U.S.
and Canada), 201-493-6754 (international) or 0 800 912 848 (France)
five minutes prior to the start time (no passcode needed). A replay
will be available shortly after the call.
APPENDICES
Consolidated Statement of Financial
Position*
ASSETS |
|
As of |
(in €
thousands) |
|
2018/12/31 |
2019/12/31 |
|
|
|
|
|
|
|
|
Current
assets |
|
|
|
Cash and cash
equivalents |
|
207 240 |
276 748 |
Current trade
and other receivables |
|
8 794 |
12 033 |
Other current
assets |
|
2 078 |
1 968 |
Inventories |
|
4 |
4 |
Total - Current assets |
|
218 116 |
290 753 |
|
|
|
|
Non-current assets |
|
|
|
Intangible
assets |
|
796 |
920 |
Property, plant
and equipment |
|
7 764 |
16 453 |
Non-current
trade and others receivables |
|
1 489 |
0 |
Other
non-current financial assets |
|
1 313 |
1 727 |
Deferred tax
assets |
|
0 |
0 |
Total - Non-current assets |
|
11 362 |
19 099 |
|
|
|
|
Total - Assets |
|
229 478 |
309 853 |
SHAREHOLDERS' EQUITY AND LIABILITIES |
|
As of |
(in €
thousands) |
|
2018/12/31 |
2019/12/31 |
|
|
|
|
|
|
|
|
Current
liabilities |
|
|
|
Current
convertible loans |
|
1 312 |
1 312 |
Other current
loans and borrowings |
|
1 848 |
3 065 |
Current trade
and other payables |
|
35 974 |
36 917 |
Current
deferred income and revenue |
|
1 |
139 |
Current
provisions |
|
112 |
2 061 |
Total - Current liabilities |
|
39 248 |
43 495 |
|
|
|
|
Non-current liabilities |
|
|
|
Non-current
convertible loans |
|
159 176 |
164 142 |
Other
non-current loans and borrowings |
|
7 255 |
15 100 |
Non-current
trade and other payables |
|
(0) |
450 |
Non-current
employee benefits |
|
1 085 |
1 408 |
Deferred tax
liabilities |
|
1 773 |
1 193 |
Total - Non-current liabilities |
|
169 291 |
182 293 |
|
|
|
|
Shareholders' equity |
|
|
|
Share
capital |
|
7 796 |
9 715 |
Share
premium |
|
251 554 |
377 821 |
Accumulated
deficit |
|
(158 897) |
(238 340) |
Currency
translation adjustment |
|
6 |
14 |
Net loss |
|
(79 521) |
(65 144) |
Total shareholders' equity - Group share |
|
20 939 |
84 065 |
Non-controlling
interests |
|
0 |
0 |
Total - Shareholders' equity |
|
20 939 |
84 065 |
|
|
|
|
Total - Shareholders' equity &
liabilities |
|
229 478 |
309 853 |
* Financial statements are not audited. The audit procedures by
the Statutory Auditors are underway The Group adopted IFRS 16
Leases for the first time on January 1, 2019
Statement of Operations*
|
|
Year ended |
(in €
thousands, except earnings per share data) |
|
2018/12/31 |
2019/12/31 |
|
|
|
|
|
|
|
|
Revenues and other income |
|
|
|
Revenue |
|
69 |
30 839 |
Other
income |
|
7 425 |
10 122 |
Revenues and other income |
|
7 494 |
40 961 |
|
|
|
|
Operating expenses and other operating income
(expenses) |
|
|
|
Research and
development expenses |
|
(67 024) |
(66 170) |
General and
administrative expenses |
|
(9 076) |
(17 265) |
Marketing and
market access expenses |
|
(717) |
(13 708) |
Other operating
income (expenses) |
|
(162) |
(1 649) |
|
|
|
|
Operating loss |
|
(69 484) |
(57 832) |
|
|
|
|
Financial
income |
|
728 |
5 221 |
Financial
expenses |
|
(11 118) |
(13 110) |
Financial loss |
|
(10 391) |
(7 889) |
|
|
|
|
Net loss before tax |
|
(79 875) |
(65 721) |
|
|
|
|
Income tax
benefit |
|
354 |
576 |
|
|
|
|
Net loss |
|
(79 521) |
(65 144) |
* Financial statements are not audited. The audit procedures by
the Statutory Auditors are underway The Group adopted IFRS 16
Leases for the first time on January 1, 2019
Statement of Cash Flows*
|
|
Year ended |
Year ended |
(in €
thousands) |
|
31/12/2018 |
31/12/2019 |
|
|
|
|
|
|
|
|
Cash
flows from operating activities |
|
|
|
+ Net
loss |
|
(79 521) |
(65 144) |
+
Non-controlling interests |
|
0 |
0 |
|
|
|
|
Reconciliation of net loss to net cash used in operating
activities |
|
|
|
Adjustments
for: |
|
|
|
+
Amortization |
|
1 819 |
3 263 |
+
Depreciation and impairment charges |
|
(208) |
2 143 |
+
Expenses related to share-based compensation |
|
787 |
1 657 |
- Gain on
disposal of property, plant and equipment |
|
(2) |
(19) |
+ Net
finance expenses |
|
10 971 |
11 437 |
+ Income
tax expense |
|
(354) |
(576) |
+ Other
non-cash items |
|
0 |
(83) |
|
|
|
|
Operating cash flows before change in working capital |
|
(66 507) |
(47 324) |
|
|
|
|
Change
in: |
|
|
|
Decrease /
(increase) in inventories |
|
(0) |
0 |
Increase in
trade receivables and other assets |
|
(724) |
(1 640) |
Increase in
trade payables and other liabilities |
|
11 056 |
1 284 |
|
|
|
|
Change in working capital |
|
10 332 |
(356) |
|
|
|
|
Income tax
paid |
|
93 |
0 |
|
|
|
|
Net cash flows used in operating activities |
|
(56 081) |
(47 680) |
|
|
|
|
Cash
flows from investment activities |
|
|
|
-
Acquisition of property, plant and equipment |
|
(2 938) |
(2 030) |
+
Proceeds from disposal of property, plant and equipment |
|
3 |
2 517 |
-
Acquisition of financial instruments |
|
(1 050) |
(160) |
+
Proceeds from sale of financial instruments |
|
0 |
0 |
-
Acquisition of subsidiary, net of cash acquired |
|
0 |
0 |
|
|
|
|
Net cash flows provided by / (used in ) investment
activities |
|
(3 986) |
327 |
|
|
|
|
Cash
flows from financing activities |
|
|
|
+
Proceeds from issue of share capital (net) |
|
0 |
126 486 |
+
Proceeds from subscription / exercise of share warrants |
|
37 |
43 |
+
Proceeds from new loans and borrowings net of issue costs |
|
1 800 |
0 |
-
Repayments of loans and borrowings |
|
(2 000) |
(1 884) |
-
Financial interests paid (including finance lease) |
|
(6 351) |
(7 785) |
|
|
|
|
Net cash flows provided by / (used in ) financing
activities |
|
(6 514) |
116 860 |
|
|
|
|
Increase / (decrease) in cash and cash
equivalents |
|
(66 580) |
69 508 |
Cash
and cash equivalents at the beginning of the period |
|
273 820 |
207 240 |
Cash and cash equivalents at the end of the
period |
|
207 240 |
276 748 |
* Financial statements are not audited. The audit procedures by
the Statutory Auditors are underway The Group adopted IFRS 16
Leases for the first time on January 1, 2019
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 more than two
decades. Its most advanced drug candidate, elafibranor, is
currently being evaluated in a pivotal Phase 3 clinical trial
(“RESOLVE-IT”) as a potential treatment for NASH and GENFIT plans
to initiate a Phase 3 clinical trial of elafibranor in patients
with PBC. As part of GENFIT’s comprehensive approach to clinical
management of patients with NASH, the company is also developing a
new, non-invasive blood-based diagnostic test, NIS4, which could
enable easier identification of patients with NASH. With facilities
in Lille and Paris, France, and Cambridge, MA, USA, the Company has
approximately 200 employees. GENFIT is a publicly traded company
listed on the Nasdaq Global Select Market and on compartment B of
Euronext’s regulated market in Paris (Nasdaq and Euronext: GNFT).
www.genfit.com
FORWARD LOOKING
STATEMENT/DISCLAIMER
This press release contains certain
forward-looking statements, including those within the meaning of
the Private Securities Litigation Reform Act of 1995, with respect
to GENFIT, including timing of publication of the top-line interim
results of our Phase 3 RESOLVE-IT clinical trial, timing of
our NDA submission regarding elafibranor in NASH, the impacts of
the COVID-19 pandemic on our business, timing of clinical and
regulatory milestones and our financial perspective, regulatory and
development timelines for our NIS4 technology and its availability
as an LDT beyond the clinical research environment, and
our ability to continue supporting activities and to minimize
potential delays once the COVID-19 pandemic subsides. The use of
certain words, including “believe,” “potential,” “expect” and
“will”, “provisional” and similar expressions, is intended to
identify forward-looking statements. These forward-looking
statements are based on assumptions and estimates by our
management, which, although believed to be reasonable, are subject
to numerous known and unknown 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, review and approvals by
regulatory authorities of its drug and diagnostic candidates and
the Company’s continued ability to raise capital to fund its
development, as well as those risks and uncertainties discussed or
identified in the Company’s public filings with the French Autorité
des marchés financiers (“AMF”), including those listed in Section 4
“Main Risks and Uncertainties” of the Company’s 2018 Registration
Document filed with the AMF on February 27, 2019 under n°
D.19-0078, which is available on GENFIT’s website (www.genfit.com)
and on the website of the AMF (www.amf-france.org) and public
filings and reports filed with the U.S. Securities and Exchange
Commission (“SEC”), including the Company’s final prospectus dated
March 26, 2019, and subsequent filings and reports filed with the
AMF or SEC, or otherwise made public, by the Company. In addition,
even if the Company’s results, performance, financial condition and
liquidity, and the development of the industry in which it operates
are consistent with such forward-looking statements, they may not
be predictive of results or developments in future periods.
These forward-looking statements speak only as of the date of
publication of this document. Other than as required by applicable
law, the Company does not undertake any obligation to update or
revise any forward-looking information or statements, whether as a
result of new information, future events or otherwise.
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
- GENFIT Reports Full-Year 2019 Financial Results and Corporate
Update
Genfit (EU:GNFT)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Genfit (EU:GNFT)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024