GENFIT: First Quarter 2022 Financial Information (Unaudited Data Established in accordance with IFRS Standards)

  • TCash and energyCash equivalent : 222.2 In a million euros March 31, 2022

Lille (France), Cambridge (Massachusetts, USA), 11 May 2022 – GENFIT (Nasdaq and Euronext: GNFT)A late-stage clinical biopharmaceutical company working to improve the lives of patients with severe chronic liver disease today announced its cash position as of March 31, 2022 and earnings for the first three months of 2022.

Cash position

Our cash and cash equivalents as of March 31, 2022 were € 222.2 million, € 108.9 million as of March 31, 2021 and € 258.8 million as of December 31, 2021. ..

The increase in cash and cash equivalents from 31 March 2021 to 31 March 2022 grants Ipsen an exclusive license to develop, manufacture and sell experimental drugs, in particular in December 2021. It takes into account the license agreement signed as part of its strategic partnership with Ipsen. GENFIT elafi branor1.. As part of this agreement, GENFIT received the first non-refundable payment of € 120 million by Ipsen in December 2021 with the addition of € 24.0 million in VAT. In addition, to confirm its long-term commitment within the framework of this partnership, Ipsen has become a shareholder of GENFIT, which holds 8% of the capital, through a equity investment of € 28 million.

This increase also takes into account the acquisition of three undiluted loans from the banking partner’s pool and Bpifrance, two state-guaranteed loans, and a subsidized loan from Bpifrance totaling € 15.2. One million received during the period.

The decrease in cash and cash equivalents recorded between 31 December 2021 and 31 March 2022 was € 24.0 million, especially collected on the first payment from Ipsen in January 2022. It takes into account VAT payments. December 2021.

turn over

Revenues for the first three months of 2022 reached € 3,895 thousand compared to € 1,000 for the same period in 2021.

The first payment received from Ipsen in December 2021 will be partially recognized as deferred revenue of € 40.0 million as of December 31, 2021 and will be recognized as revenue over time. ELATIVE double-blind completed ™ survey, IFRS 15 compliant. Revenues for the first three months of 2022 were primarily due to partial recognition of this amount of revenues during the period.

Have About DE-GENFIT

GENFIT is a late-stage clinical biopharmacy company dedicated to improving the lives of patients with chronic and severe liver disease whose medical needs are poorly met. GENFIT is a pioneer in research and development in the field of liver disease, with a rich history of over 20 years and a solid scientific heritage. Thanks to our expertise in developing high potential molecules from early to advanced stages of development and premarketing, GENFIT now has a diverse and rapidly expanding portfolio of innovative therapeutic and diagnostic solutions. ..

Research and development of GENFIT is a cholestasis disease, ACLF (acute Chronic liver Failure Where Acute decompensation for cirrhosis.) And NASH diagnosis. Within the franchise of cholestasis disease, Phase 3 clinical trial ELATIVETMElafibranor rating2 In patients with primary biliary cholangitis (PBC), it is currently underway after the final Phase 2 trial. The first data will be released in the second quarter of 2023. In 2021, GENFIT signed an exclusive license agreement with Ipsen to develop, manufacture and commercialize elafibranol for PBC and other indications.3 GENFIT is also developing compound GNS561FourAfter acquiring the exclusive rights to this indication from Genoscience Pharma in 2021Four.. At ACLF, GENFIT has begun Phase 1 trials to evaluate nitazoxanide, with results expected as early as the third quarter of 2022. As part of the diagnostic solutions franchise, we signed a license agreement with Labcorp in 2021 to commercialize the diagnostic test NASHnext®. Based on GENFIT’s unique diagnostic technology, NIS4®, we identify patients with so-called “risk” NASH.

GENFIT is a company based in Lille, Paris and Cambridge, Massachusetts (USA), listed on the Nasdaq Global Select Market and Compartment B (Nasdak and Euronext: GNFT), the regulated market for Euronext in Paris. In 2021, Ipsen became one of GENFIT’s largest shareholders and owned 8% of the company’s capital. www.genfit.fr

caveat

This press release contains forward-looking statements regarding GENFIT, including the implications of the Private Securities Litigation Reform Act of 1995, especially its R & D program and forward-looking statements regarding the availability of clinical trial results. increase. “Think”, “Imagine”, “Think”, “Aim”, “Expect”, “Intention”, “Must”, “Aim”, “Estimate”, “Believe”, “Wish” Use of certain words such as “may”, “permit”, “aiming”, “encourage”, “confidently”, or, where appropriate, negative of these same terms Formats, or other variations or similar terms, are intended to identify such future prospects. statement. We believe our forecasts are based on reasonable assumptions and expectations of our general management, but these forward-looking statements are a certain number of known or unknown hazards and uncertainties. Gender can be questioned, which can lead to substantially different results. Descriptions, implications, or expectations of such forward-looking statements. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the field of biomarkers, the progress and results of planned and ongoing clinical trials, and regulators of drug candidates and diagnostic solutions. Includes review and approval by. Currency fluctuations, our ability to continue to raise funds for development, and our document submitted to Autorité des marchés lenders developed in Chapter 2 “Risk Factors and Internal Controls” of d’Universal Registration 2021. (“” MFA ”) April 29, 2022, GENFIT (www.genfit.fr) and AMF (www.amf-france.org) websites, and document disclosure and submission, number D.22-0400. Available on the website created in the report with the Securities and Exchange Commission (” dry USA “), including Annual Report Form 20-F submitted to the SEC on April 29, 2022. In addition, the company’s performance, performance, financial position, liquidity, and any developments in the industrial sector in which the company develops are in line with these forward-looking statements, so future results and progress It cannot be predicted. These forward-looking statements are current as of the date of publication of this document. In accordance with applicable regulations, we undertake no obligation to update or revise the information contained in this press release for new information, future events, or any other reason.

contact

GENFIT | Investor

Public Relations for Investors | Phone: +33 3 20 16 40 00 | [email protected]

Press related | Media

Bruno Arabian – Ulysses Communication | Phone: 06 87 88 47 26 | [email protected]

Stephanie Boyer – GENFIT | Tel: 03 20 16 40 00 | [email protected]

GENFIT 885AvenueEugène Avinée, 59120 Loos – France | +333 2016 4000 | www.genfit.com


1 Except for China, Hong Kong and Taiwan Macau Also Tern Pharmaceuticalselafibranor
2 Elafibranor And GNS561 are investigational compounds that have not been reviewed and approved by regulatory agencies.
3 Except for China, Hong Kong and Taiwan Macau Also Tern Pharmaceuticalselafibranor
Four In the contract, marketing Development in the United States, Canada and Europe, including the United Kingdom and Switzerland

  • GENFIT: Financial Information for the First Quarter of 2022


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