GenFit SA (GNFT) is a pharmaceutical company developing therapeutics for chronic liver and metabolic disorders. The company develops nuclear receptor-based drugs. One of the candidate drugs of the company is elafibranor, which is a phase III clinical drug for the treatment of primary biliarycholangitis. Another important product is NIS4 technology used in diagnosing fibrosis and nonalcoholic steatohepatitis (NASH).
The price of GNFT stock during the regular trading hours of December 17, 2021, was $5.09 with a notable rise of 53.31%. At last check, the price decreased by 2.55% in the pre-market of December 20, 2021.
Events and Happenings
On December 17, 2021, GNFT reported the attainment of exclusive licensing rights of the development and commercialization of the trial treatment GNS561 in cholangiocarcinoma. The rights were taken from Genoscience Pharma. This announcement is the outcome of the company’s global strategic collaboration.
On December 17, 2021, GNFT and Ipsen agreed upon giving Ipsen an exclusive global license for the development, manufacturing, and commercialization of elafibranor. The collaboration also gives access to Ipsen for the futuristic clinical trials by GENFIT. To highlight this long-term obligation, Ipsen will also purchase currently issued GNFT equity presenting 8% after-issuance through a €28 million direct investment in GENFIT. Through this collaboration, Ipsen became one of the largest shareholders in GNFT.
On November 18, 2021, GNFT reported that the Foundation for the National Institute of Health Biomarkers Consortium’s initiative Non-Invasive Biomarkers of Metabolic Liver Disease (NIMBLE) undertook NIS4 technology utilization and it had been recognized in a Stage 1 study. The study was reported in the patients who are at risk of NASH.
On November 09, 2021, GNFT reported the first patient’s visit for the assessment of NTZ in liver impairment cases, in relation to its acute on chronic liver failure (ACLF) program.
On November 8, 2021, GNFT announced its financial results for the third quarter ended on September 30, 2021. Some of the highlights are as follows
For the third quarter of 2021, GNFT’s cash and cash equivalents amounted to $103 million as opposed to $224.6 million for the same quarter prior year.
On November 02, 2021, GNFT reported that it represented results for the clinical trials for elafibranor at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting 2021, held from November 12-15, 2021. The data showed that the compound is generally well tolerated and safe for use.
The stock price rise for GNFT as the analysts are attributing is the outcome of the attainment of the licensing rights from Genoscience Pharma. The collaboration had been proven as a benefactor cause for the company’s market position. The investors showed their trust in the company’s strategies after the partnership.