Cash and cash equivalents reached 258.8ME on 31/12

(Boursier.com) — Operating profit in 2021 Genfit It reached 85.6 million euros, compared to 7.8 million euros in 2020.
Revenue in 2021 was € 80.1 million, which mainly included recognition of € 80 million in revenue for the initial payment of € 120 million received from Ipsen in the license agreement signed in December 2021. The rest (40 million euros) will be recognized as deferred income. It is recognized as revenue because it is conducted in a double blind as part of the ELATIVE research. Other revenue generated in 2021 is related to a license agreement with Labcorp for the deployment of NIS4 diagnostic technology in the field of NASH.

Sales in 2020 will be 800,000 euros, primarily with revenue generated by the license agreement with Labcorp, temporary revenue generated from the sale of goods and services, especially within the framework of the license agreement, and with Terns Pharmaceuticals. It was due to cooperation. ..
Other operating income was primarily due to the Research Tax Credit (CIR), which was € 5.3 million in 2021. In contrast, the CIR amount for fiscal year 2020 was € 7.9 million minus the corresponding cost of € 1.9 million. Until the end of the 2010, 2011, 2012 and 2014 CIR related proceedings.

Operating expenses in 2021 were € 53.8 million, compared to € 90.7 million in 2020. R & D expenses, general administration expenses, marketing and premarketing and other operating revenues and expenses for 2021 decreased compared to the previous fiscal year. In 2021, it was 53.6 million euros, compared to 85.3 million euros in 2020.
This reduction primarily reflects the impact of the restructuring and restructuring plans that began in the fourth quarter of 2020 and continued in 2021. The impact of restructuring and restructuring costs associated with these treasury measures has been significantly reduced to reach € 100,000 in 2021. It reached € 5.3 million in 2020. This consisted primarily of costs associated with the renegotiation of convertible bonds, but was partially offset by the previously recognized reversal of reserves in 2020. There will be 82.9 million people in 2020.

In 2021, GENFIT recorded a positive financial result of € 37.7 million compared to a loss of € 18.8 million in 2020.
This change was primarily due to a € 35.6 million bonus created by the partial repurchase of bond debt within the framework of OCEANE’s renegotiation and a reduction in financial interest rates of € 11.6 to € 4.8 million in 2021. It is due to. One million euros in 2020.

Forex income in financial transactions showed a net profit of € 6.7 million in 2021 compared to a net loss of € 8.5 million in 2020. This is primarily related to the foreign exchange difference in cash investments in the US dollar, which is maintained in the original currency. Their subscription. In connection with the above, as of December 31, 2021, the portion of foreign exchange resulting from financial transactions that may be considered unrealized was € 5.9 million.

Cash position

As of 31 December 2021, our cash and cash equivalents were € 258.8 million, compared to € 171 million as of December 31, 2020.
This variation specifically includes:
-Euro 24 million will be added to Ibsen’s payment of the first non-refundable payment of € 120 million under the license agreement signed in December 2021.
VAT euro collected.
-Payment of € 28 million for Ipsen’s equity investment in the company’s capital, received in December 2021.
-Repayment of € 7.9 million for the 2020 CIR in October 2021.
-Acquired two state-guaranteed loans and subsidized loans for a total of € 15.2 million in June, July and November 2021.
-Payment of € 47.5 million (excluding transaction costs) mobilized for a partial repurchase of bonds convertible into shares (OCEANE) in January 2021.When
-Impact of cash consumption related to operating activities for the current year.

Note: Given the partial redemption of OCEANE and the conversion to shares that followed the renegotiation of this bond loan that resulted in the creation of 6,941,875 new shares, the remaining convertible bond debt is nominal. € 56.9 million as of April 7, 2022, less than one-third of the original nominal debt of € 180 million. The number of OCEANEs in circulation is 1,923,662, which represents the maximum dilution for the conversion of all convertible bonds of 17.52%.