Genfit: net loss widens in 2023
(CercleFinance.com) - Genfit has reported a net loss of 28.
9 million euros for the past year, compared with 23.7 million in 2022, with a deterioration in financial income more than offsetting a reduction in operating loss from 27.3 to 26.6 million.
The biopharmaceutical company's revenues rose to 38.2 million euros from 26.6 million in 2022, but its operating expenses increased to 64.8 million due to a 10.7 million increase in R&D costs.
Genfit expects its cash and cash equivalents to be sufficient to finance its operating and capital expenses until approximately the fourth quarter of 2025.
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