Genfit files for NASDAQ listing

France’s Genfit S.A. (Euronext:GNFT) proposed a NASDAQ offering that would give the company a dual listing. The company, whose lead molecule elafibranor is in Phase III testing to treat non-alcoholic steatohepatitis (NASH), proposed to raise a total of up to $100 million through the sale of ADSs to public investors and via a concurrent ex-U.S. private placement, primarily with European investors.

After going public via a €15 million ($20.2 million) IPO on Euronext in 2006, Genfit received fairly little investor attention until interest in NASH therapies rose sharply during the past five years. The company has repeatedly raised cash via private placements and other mechanisms, including some with U.S. investors, since its valuation began to rise around late 2013...