Genfit prunes nearly half its workforce after NASH exit — but CEO promises a future in PBC, diagnostics
Two months after Genfit’s lead drug, elafibranor, failed a closely-watched Phase III showdown, the French biotech threw in the towel on NASH altogether. Another two months later, top execs are laying off 40% of the workforce — 75 positions in total — as they look to rebuild.
The restructuring is part of a plan to reduce the cash burn by more than half, according to Genfit, from €110 million annually before the Phase III RESOLVE-IT data dropped to around €45 million in 2022. With fewer than 125 staffers between France and the US, the downsized company will focus on pushing elafibranor in primary biliary cholangitis and commercializing a diagnostic tool for NASH.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
