(AOF) – Genfit (-5.69% to 3.06 euros) falls after the presentation of its annual results. The biotech specializing in rare liver diseases that can be life-threatening shows a net loss of 28.89 million euros compared to 23.71 million in 2022. As of December 31, 2023, cash and cash equivalents amounted to 77 .8 million euros compared to 136.0 million euros a year earlier: the financing of its operational and capital expenditure would be ensured until, “approximately”, the fourth quarter of 2025
The operating loss, on the other hand, decreased slightly to 26.58 million euros compared to 27.28 million in 2022. In 2023, operating income amounted to 38.2 million euros compared to 26.6 million euros in 2022.
Operating expenses amount to 64.8 million euros in 2023, compared to 53.9 million euros in 2022, including “research and development costs, general and administrative costs, marketing and pre-processing costs.” – marketing, reorganization and restructuring costs, and other operating income and expenses.
In 2024, Genfit could “see its first internally developed molecule made available to patients,” says CEO Pascal Prigent. “Its approval and commercialization would mean we could receive additional milestone payments and a steady stream of royalties, which will help fund the development of our pipeline.”
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