Genfit: Drops on workforce reduction, bigger loss

Genfit SA

01/10/2020 15:42

** U.S.-listed shares of Biopharmaceutical company  GNFT.O 
down 14.2% at $4.52
    ** Co  GNFT.PA  announces 40% workforce reduction to lower
cash burn by more than 50% https://bit.ly/33hrrx0
    ** Co also reports bigger H1 loss
    ** Co says it plans to create two units by 2021 as part of
its new corporate strategy
    ** Says strategy focused on commercialisation of NIS4 for
NASH diagnosis and licensing agreement with Labcorp
    ** Stock has lost nearly 77% of its value so far this year

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))