- GENFIT secured a **royalty financing agreement** with HCRx for up to **€185 million**, with **€130 million upfront**, which significantly extends its cash runway beyond the end of 2028.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:5]**  Concurrently, the company repurchased **99% of its outstanding OCEANEs** for **€61.7 million**.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:5]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:41]** 
- The company received a **€26.5 million milestone payment** in July 2025 for Iqirvo® (elafibranor) and reported **accelerated sales growth of €59 million** for the drug in the first half of 2025.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:5]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:24]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:31]** 
- GENFIT decided to **discontinue its VS-01 program in ACLF** on September 19, 2025, following a Serious Adverse Event, which will result in a **full impairment of the €45.8 million intangible asset** in the second half of 2025 and is expected to substantially reduce operating expenses.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:24]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:11]** 
- For the first half of 2025, GENFIT reported a **net loss of €9,956 thousand** on **revenue of €33,488 thousand**, compared to a net profit of €30,311 thousand and revenue of €58,973 thousand in the first half of 2024.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:15]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:20]**  Cash and cash equivalents increased to **€107,511 thousand** as of June 30, 2025.  **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:15]** **[1757064_0001757064-25-000010_a12025-rfs6kxgenfit.htm:19]**

Genfit S.A. Reports Q2 2025 Results, Secures Financing, and Discontinues VS-01 Program

- GENFIT reported a **net loss of €10.0 million** for the first half of 2025, compared to a net profit of €30.3 million in the same period of 2024, with revenues and other income totaling **€35.7 million**.  **[1757064_0001171843-25-006004_exh_991.htm:4]** **[1757064_0001171843-25-006004_exh_991.htm:5]** 
- As of June 30, 2025, cash and cash equivalents were **€107.5 million**, excluding a **€26.5 million milestone payment** received in July 2025, and the company's cash runway is now projected to extend **beyond 2028**.  **[1757064_0001171843-25-006004_exh_991.htm:0]** **[1757064_0001171843-25-006004_exh_991.htm:4]** 
- The **VS-01 program in ACLF was discontinued** due to a Serious Adverse Event, with development now reprioritized for Urea Cycle Disorder (UCD).  **[1757064_0001171843-25-006004_exh_991.htm:0]** **[1757064_0001171843-25-006004_exh_991.htm:1]** 
- Ipsen's Iqirvo® (elafibranor) for PBC generated **€6.9 million in royalty revenue** for GENFIT in the first half of 2025, and a key competitor, OCALIVA®, exited the US market in September 2025, which is expected to support Iqirvo® sales.  **[1757064_0001171843-25-006004_exh_991.htm:0]** **[1757064_0001171843-25-006004_exh_991.htm:2]** **[1757064_0001171843-25-006004_exh_991.htm:4]**

Genfit Reports First-Half 2025 Financial Results and Corporate Updates

- **Genfit S.A.** has decided to **discontinue its VS-01 program in Acute-on-Chronic Liver Failure (ACLF)** following a Serious Adverse Event (peritonitis case) reported in the UNVEIL-IT® clinical trial and feedback from the independent Data Monitoring Committee.  **[1757064_0001171843-25-005981_exh_991.htm:0]** 
- The development of **VS-01 will be refocused on Urea Cycle Disorder (UCD)**, with preclinical evaluation continuing in this indication.  **[1757064_0001171843-25-005981_exh_991.htm:0]** 
- This discontinuation is expected to result in a **substantial reduction in operating expenses**, providing strategic flexibility.  **[1757064_0001171843-25-005981_exh_991.htm:0]** 
- The company anticipates this will **extend its projected cash runway by at least a year versus previous guidance, i.e., beyond 2028**.  **[1757064_0001171843-25-005981_exh_991.htm:0]** 
- **Genfit** remains committed to ACLF and plans to accelerate the development of **four other assets** (G1090N, SRT-015, CLM-022, and VS-02-HE) in its pipeline for ACLF.  **[1757064_0001171843-25-005981_exh_991.htm:0]**

Genfit (GNFT)