Genfit SA (NASDAQ:GNFT) shares are trading higher after the company, and Ipsen, announced an exclusive licensing agreement for elafibranor.
David Loew, Chief Executive Officer, Ipsen, said, "Today's announcement marks an exciting new stage in Ipsen's ambitions to expand our portfolio to support more people living with rare diseases around the world. We are excited by elafibranor's data package, demonstrating the potential benefit of this first-in-class, innovative treatment option to help the PBC community."
"We look forward to the results of the ongoing Phase III program and regulatory submissions around the world to bring this potential new treatment option to patients. Ipsen is pleased to partner with GENFIT, a company that shares our common values and goals of bringing to market first-in-class treatments to improve the lives of people living with rare conditions like PBC," Loew stated.
Genfit SA is a biotechnology company focused on metabolic and inflammatory diseases, with a particular focus on the liver and gastroenterology. The company's research and development activity relies on its expertise in modulating gene expression through nuclear receptors.
Genfit SA has a 52-week high of $7.19 and a 52-week low of $3.01.
