Genfit raises €180M via bond issue

Genfit S.A. (Euronext:GNFT) raised €180 million ($211.1 million) through the sale of convertible bonds in a private placement. Kepler Chevreux and Natixis were underwriters. The bonds are due Oct. 16, 2022, bear 3.5% interest and convert into stock at €29.60, a 22% premium to its close of €24.30 on Tuesday. Genfit proposed early Wednesday to raise €150 million ($175.9 million).

Genfit expects data in 3Q19 from the Phase III RESOLVE-IT trial of elafibranor (GFT505) to treat non-alcoholic steatohepatitis (NASH). Elafibranor is a dual PPAR alpha and delta agonist...