(Boursier.com) — Genfit rises 1.5% to 3.20 euros this Friday, as the advanced clinical stage biopharmaceutical company committed to improving the lives of patients with rare liver diseases that can be life-threatening announced, as of December 31 last, cash and cash equivalents of 77.8 million euros, compared to 140.2 million euros as of December 31, 2022. As of September 30, 2023, cash and cash equivalents totaled 93.9 million euros. ..
This amount does not include the receipt of a milestone payment of €13.3 million in February 2024 fromIpsenbilled in December 2023, triggered by acceptance of the filing of the New Drug Application with the US Food and Drug Administration (FDA) and the marketing authorization application with the European Medicines Agency for accelerated approval of elafibranor in Primary Biliary Cholangitis in December 2023.
Milestone Payments
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 of the approval and marketing of elafibranor in the PBC.
Quoting…
“The decrease in cash and cash equivalents between September 30, 2023 and December 31, 2023 reflects our sustained research and development efforts undertaken,” commented management.
The Company expects its cash and cash equivalents to fund its operating and capital expenditures until, approximately, the fourth quarter of 2025…
The turnover for the 2023 financial year amounted to 28.6 million euros compared to 20.2 million euros for the same period in 2022. Portzamparc insists on the strong point of cash flow, without forgetting the future royalties which should arrive, and remains a buyer on the file…
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