Pascal Prigent (Genfit)

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.

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