Brief: Genfit: Cash, Cash Equivalents Of EUR 109 Mln At End-March

Genfit SA

13/05/2021 07:05

May 13 (Reuters) - Genfit SA  GNFT.PA :
    * REPORTED ON WEDNESDAY FIRST QUARTER 2021 FINANCIAL
INFORMATION
    * CASH AND CASH EQUIVALENTS TOTALED EUR 109 MLN AS OF MARCH
31,
2021 VS EUR 252.0 MLN AS OF MARCH 31, 2020 AND EUR 171.0 MLN AS
OF DEC 31, 2020
    * Q1 REVENUES AMOUNTED TO EUR 1 THOUSAND COMPARED TO EUR 102
THOUSAND FOR THE SAME PERIOD IN 2020
    * REITERATES ITS GOAL TO REDUCE CASH BURN RATE FROM EUR 110
MLN
ANNUALLY BEFORE OUR PHASE 3 DATA, TO ABOUT EUR 45 MLN ANNUALLY,
BEGINNING IN 2022
    * 2021 WILL BE TRANSITION YEAR WITH CASH BURN OF ABOUT EUR
75 MLN
(EXCL. PARTIAL OCEANES BUYBACK TRANSACTION FOR EUR 47.48 MLN IN
CASH) MAINLY DUE TO RESIDUAL EXPENSES RELATED TO TERMINATION OF
RESOLVE-IT CLINICAL TRIAL, AND TO COSTS ASSOCIATED WITH
WORKFORCE REDUCTION PLAN

Source text for eikon:  ID:nNDL1Bwcrr 
Further company coverage:  GNFT.PA 

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