(Boursier.com) — Genfit fell by 5.5% to 3.05 euros this Friday, while in 2023, the group’s operating income amounted to 38.2 million euros compared to 26.6 million euros in 2022. turnover amounts to 28.6 million euros, compared to 20.2 million euros in 2022. Other operating income climbs to 9.6 million euros in 2023, compared to 6.4 million euros in 2022.
In 2023, Genfit generated a consolidated operating loss of 26.6 million euros, compared to a consolidated operating loss of 27.3 million euros in 2022.
As of December 31, 2023, the company’s cash and cash equivalents amounted to €77.8 million compared to €136.0 million as of December 31, 2022.
This amount does not include the receipt in February 2024 of a milestone payment of €13.3 million from Ipsen, invoiced in December 2023, triggered by the acceptance of the NDA filing by the FDA and Marketing Authorization by the EMA for the accelerated approval of elafibranor in PBC in December 2023.
As indicated in previous communications, GENFIT expects to receive milestone payments in 2024 totaling approximately €89 million (including the €13.3 million milestone payment already received in February 2024), subject to the approval and marketing of elafibranor in the PBC. The decrease in cash and cash equivalents between September 30, 2023 and December 31, 2023 reflects the sustained research and development efforts undertaken.
Portzamparc speaks of a “very positive” year 2023 with reassuring cash flow probably completed by mid-2024… The analyst also notes that the group’s direct competitor in the PBC was bought for $4.3 billion ( CymaBay Therapeutics/Gilead). Enough to keep the purchase on file!
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