Genfit: Sinks after disappointing elafibranor phase 3 results

Genfit SA

12/05/2020 10:13

** Shares in drug developer Genfit  GNFT.PA  slump around
70% after co announced phase 3 results of its drug elafibranor 
    ** The company said late on Monday that elafibranor did not
demonstrate a statistically significant effect on the primary
endpoint of NASH resolution without worsening of fibrosis 
    ** NASH is a liver disease caused by a buildup of fat,
characterized by liver inflammation and damage
    ** Portzamparc says that this is a great disappointment for
this product which had represented 94% of the brokerage's price
target for the stock
    ** It double downgrades to "sell" from "buy" and slashes
target price to EUR 12.2 from EUR 54.7
    
    

 ((pawel.goraj@tr.com))