French biopharmaceutical company GENFIT S.A. (NASDAQ: GNFT) recently closed its initial public offering of 7,647,500 new ordinary shares, including an additional 997,500 ADSs pursuant to the full exercise of the over-allotment option granted to the underwriters. The offering, which resulted in gross proceeds of approximately $155.4 million for GENFIT S.A., was comprised of 7,147,500 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. GENFIT’s ordinary shares are listed on Euronext Paris, while its ADSs are listed on the Nasdaq Global Select Market, where it began trading on March 27, 2019. The company’s shares are listed under ticker symbol ‘GNFT’ on both exchanges. All of the offering’s ADSs and ordinary shares were offered by GENFIT S.A., and ROTH Capital Partners acted as co-manager for the transaction.
To view the full press release, visit http://nnw.fm/7udZU
About GENFIT S.A.
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 www.GENFIT.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]