For more information please contact:
Eric B. Cheng
Co-Head of Healthcare
Co-Head of Healthcare
Equity Capital Markets
Head of Equity
Senior Vice President
Senior Vice President
GENFIT SA (Nasdaq:GNFT), a French biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, has closed its initial public offering of 7,647,500 new ordinary shares, which included an additional 997,500 ADSs pursuant to the full exercise of the over-allotment option granted to the underwriters. The offering was comprised of 7,147,500 ordinary shares in the form of American Depositary Shares, each representing one ordinary share (“ADSs”), at a public offering price of $20.32 per ADS, and a concurrent private placement of 500,000 ordinary shares in Europe (including France) and countries outside of the United States at the corresponding offering price of €18.00 per ordinary share, resulting in the gross proceeds for GENFIT SA of approximately $155.4 million.
GENFIT’s ordinary shares are listed on Euronext Paris and its ADSs are listed on the Nasdaq Global Select Market, each under the symbol “GNFT.” The ADSs began trading on the Nasdaq Global Select Market on March 27, 2019. All of the ADSs and ordinary shares in the offering were offered by GENFIT SA.
ROTH Capital Partners acted as co-manager for the transaction.
About GENFIT SA
GENFIT is a biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, and hepatobiliary diseases. GENFIT concentrates its R&D efforts in areas of high unmet medical needs corresponding to a lack of approved treatments. GENFIT's lead proprietary compound, elafibranor, is a drug candidate currently being evaluated in one of the most advanced Phase 3 studies worldwide (RESOLVE-IT) in NASH, considered by regulatory authorities as a medical emergency because it is silent, with potentially severe consequences, and with a prevalence on the rise. Elafibranor has also obtained positive preliminary results in a Phase 2 clinical trial in PBC, a severe chronic liver disease. As part of its comprehensive approach to clinical management of NASH patients, GENFIT is conducting an ambitious discovery and development program aimed at providing patients and physicians with a blood-based test for the diagnosis of NASH, i.e. non-invasive and easy-to-access. With facilities in Lille and Paris, France, and Cambridge, MA (USA), the Company has approximately 150 employees. GENFIT is a public company listed on the Nasdaq Global Select Market in the United States (Nasdaq: GNFT) and in compartment B of Euronext’s regulated market in Paris (Euronext: GNFT – ISIN: FR0004163111). For more information, please visit
(Source: Company Press
Release | 3/29/19)
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