IVEVF - Genfit: Beaten Down But Not Dead
Introduction
In March, I wrote an article about Genfit (NASDAQ:GNFT) and the potential of its lead drug candidate Elafibranor in NASH. In my analysis, I underlined the huge upward potential but also underpinned the binary characteristic of the investment case. My recommendation was to wait out positive top line phase 3 results and then buy into the rally. Unfortunately, it never got to that point. In May, Genfit published disappointing top line results and turned biopharma’s read-out of the year into biopharma’s flop of the year. The list of late-stage candidate failures in