Brief: Genfit Provides Initial Update on Corporate Strategy

Genfit SA

23/07/2020 07:31

July 23 (Reuters) - GENFIT SA  GNFT.PA :
    * GENFIT ANNOUNCED ON WEDNESDAY DISCONTINUATION OF
RESOLVE-IT
PHASE 3 CLINICAL TRIAL OF ELAFIBRANOR IN ADULTS WITH
NON-ALCOHOLIC STEATOHEPATITIS NASH) AND FIBROSIS
    * THIS DECISION IS THE FIRST STEP OF THE NEW CORPORATE
STRATEGY
AND ALLOWS GENFIT TO ACCELERATE ITS COST-SAVING PLAN
    * AND TO FOCUS ITS EFFORTS ON DEVELOPING ITS TWO MAJOR
PROGRAMS:
ELAFIBRANOR DEVELOPMENT IN PBC, AND COMMERCIAL GROWTH OF NIS4
    * PBC IS AN EXCITING OPPORTUNITY WITH THE MARKET FOR SECOND
LINE
THERAPY ESTIMATED TO POTENTIALLY REACH $1.5 BILLION BY 2035
    * PRIORITIZATION OF ELAFIBRANOR IN PRIMARY BILIARY
CHOLANGITIS
(PBC) AND OF NIS4™, GENFIT’S NON-INVASIVE TECHNOLOGY TO IDENTIFY
PATIENTS WITH AT-RISK NASH
    * FOLLOWING THE DETAILED REVIEW OF THE FULL RESOLVE-IT
INTERIM
EFFICACY DATASET, WHICH INVOLVED SEVERAL EXPERTS IN THE NASH
FIELD, GENFIT DETERMINED THAT INVESTMENT NEEDED TO CONTINUE THE
TRIAL WAS NOT JUSTIFIED
    * WILL NOW ENGAGE WITH RESOLVE-IT INVESTIGATORS TO EXPEDITE
TRIAL
TERMINATION PROCESS
    * GENFIT IS COMMITTED TO FINALIZING THIS PROCESS,
CONSIDERING THAT
INSIGHTS GAINED FROM SUCH A LARGE INTERNATIONAL PHASE 3 TRIAL
WILL PROVIDE VALUABLE AND BENEFICIAL INFORMATION FOR WHOLE OF
NASH COMMUNITY

Source text for Eikon:  ID:nNDLbqwvwV 
Further company coverage:  GNFT.PA 

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