Brief: Genfit 2020 Revenues Down At 765,000 Euros

Genfit SA

01/03/2021 06:46

March 1 (Reuters) - GENFIT SA  GNFT.PA :
    * ANNOUNCED ON FRIDAY REVENUES AND CASH POSITION AS OF
DECEMBER
31, 2020
    * CASH AND CASH EQUIVALENTS TOTALED €171 MLN AS OF DECEMBER
31,
2020
    * ANNOUNCED CASH POSITION OMITS THE PARTIAL BUYBACK OF THE
OCEANES
CONVERTIBLE BONDS BY GENFIT, FOR €47.48 MLN, COMPLETED IN
JANUARY 2021
    * REVENUES FOR 2020 AMOUNTED TO €765 THOUSAND COMPARED TO
€31 MLN
FOR 2019
    * COMPANY REITERATES GOAL TO REDUCE CASH BURN RATE FROM €110
MLN
ANNUALLY BEFORE PHASE 3 DATA, TO AROUND €45 MLN ANNUALLY,
BEGINNING IN 2022    
    * 2021 WILL BE A TRANSITION YEAR WITH A CASH BURN OF
APPROXIMATELY
€75 MILLION (EXCLUDING THE PARTIAL OCEANES BUYBACK TRANSACTION
FOR €47.48 MILLION IN CASH) 

    
 Source text: https://bit.ly/3c3k7Zp   
 Further company coverage:  GNFT.PA  
   


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