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About liver disease

GENFIT Announces the Exercise in Full of the Option Granted to the Underwriters of its Global Offering and Nasdaq Global Select Market Listing to Purchase up to 997,500 Additional ADSs


Gross Proceeds of the Global Offering Increased to Approximately $155.4 million

Lille (France), Cambridge (Massachusetts, United States), March 28, 2019 – GENFIT SA (Euronext: GNFT – ISIN: FR0004163111) (“GENFIT” or the “Company”), a French biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, and hepatobiliary diseases, announces today that the underwriters of its global offering of an aggregate of 6,650,000 new ordinary shares, comprising an offer of 6,150,000 ordinary shares in the form of American Depositary Shares, each representing one ordinary share (“ADSs”) and a concurrent private placement of 500,000 ordinary shares in Europe (including France) and other countries outside of the United States (the “Global Offering”), have exercised in full their option to purchase up to 997,500 additional ADSs. The additional ADSs will be delivered concurrently with the closing of the Global Offering.

As a result, the total number of GENFIT ordinary shares and ADSs issued in the Global Offering amounts to 7 647 500 ordinary shares, including 7 147 500 in the form of ADSs, bringing the gross proceeds of the Global Offering to approximately $155.4 million (€137.6 million[1]).

Barclays Capital Inc., acting as the stabilizing agent on its own behalf and on behalf of the other underwriters, reported that no stabilization activities had been carried out. The period during which stabilization activities could be carried out is now closed.


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This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such


GENFIT is a biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, and hepatobiliary diseases. GENFIT concentrates its R&D efforts in areas of high unmet medical needs corresponding to a lack of approved treatments. GENFIT’s lead proprietary compound, elafibranor, is a drug candidate currently being evaluated in one of the most advanced Phase 3 studies worldwide (RESOLVE-IT) in NASH, considered by regulatory authorities as a medical emergency because it is silent, with potentially severe consequences, and with a prevalence on the rise. Elafibranor has also obtained positive preliminary results in a Phase 2 clinical trial in PBC, a severe chronic liver disease. As part of its comprehensive approach to clinical management of NASH patients, GENFIT is conducting an ambitious discovery and development program aimed at providing patients and physicians with a blood-based test for the diagnosis of NASH, i.e. non-invasive and easy-to-access. With facilities in Lille and Paris, France, and Cambridge, MA (USA), the Company has approximately 150 employees. GENFIT is a public company listed in compartment B of Euronext’s regulated market in Paris (Euronext: GNFT – ISIN: FR0004163111).


This press release contains certain forward-looking statements with respect to the closing of the Global Offering. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, including related to safety, biomarkers, progression of, and results from, its ongoing and planned clinical trials, review and approvals by regulatory authorities of its drug and diagnostic candidates and the Company’s continued ability to raise capital to fund its development, as well as those risks and uncertainties discussed or identified in the Company’s public filings with the AMF, including those listed in Section 4 “Main Risks and Uncertainties” of the Company’s 2018 Registration Document filed with the French Autorité des marchés financiers on February 27, 2019 under n° D.19-0078, which is available on GENFIT’s website (www.genfit.com) and on the website of the AMF (www.amf-france.org). Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements. This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in GENFIT in any country. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.


GENFIT | Investors

Naomi EICHENBAUM – Investor Relations | Tel: +1 (617) 714 5252 | investors@genfit.com


Hélène LAVIN – Press relations | Tel: +333 2016 4000 | helene.lavin@genfit.com

[1]              Assuming an exchange rate of €1.00 = $1.1291, the exchange rate on March 26, 2019 as published by the European Central Bank.offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.


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