Genfit (GNFT) Q1 2025 earnings summary

Executive summary

• Cash and cash equivalents reached €129.5 million as of March 31, 2025, up from €74.0 million a year earlier and €81.8 million at the end of 2024, mainly due to a €130.0 million royalty financing agreement, partially offset by a €61.7 million repurchase of convertible debt.

• Revenues for Q1 2025 were €2.8 million, up from €1.1 million in Q1 2024, driven by royalties from IqirvoⓇ (elafibranor) sales.

• The cash runway is now projected to extend beyond the end of 2027, assuming milestone revenues from Ipsen, further royalty financing, and reimbursement of remaining convertible debt.

Financial highlights

• Q1 2025 revenues increased to €2.8 million from €1.1 million in Q1 2024, reflecting higher royalty income.

• Cash and cash equivalents rose by €47.7 million sequentially from December 31, 2024, and by €55.5 million year-over-year.

• Convertible debt outstanding as of the press release date is €586 thousand.

Outlook and guidance

• Cash runway is expected to last beyond 2027, contingent on milestone payments, additional royalty financing, and debt reimbursement.

• Future revenues depend on Ipsen's sales performance of IqirvoⓇ and achievement of sales-based thresholds.