Genfit raises EUR 21M in private placement

Genfit S.A. (Euronext:GNFT) raised EUR 21 million ($25.8 million) through the sale of 583,433 shares at EUR 35.95 in a private placement with institutional investors, including undisclosed U.S. investors. The price is a 1.5% discount to the company's close of EUR 36.48 on Tuesday.

Genfit is conducting a Phase IIb trial of GFT505 to treat non-alcoholic steatohepatitis (NASH), and is planning a Phase III study. The dual peroxisome proliferation activated receptor (PPAR) alpha and delta agonist has Fast Track designation for NASH in the U.S. The company also plans to begin a Phase IIa trial of GFT505 in Crohn's disease. ...