France-basd biopharmaceutical company GENFIT plans to raise about $132 million in its stock market listing.
GENFIT will issue and offer 5 million shares of common stock. In addition, the underwriters will be granted a 30-day option to buy extra shares in an aggregate amount of up to 15 of the shares proposes with the listing.
With the projected funds, GENFIT intends to support the phase III trial and planned commercialization of its elafibranor compound for non-alcoholic steatohepatitis (NASH).
Moreso, GenFit will build out its commercial infrastructure to prepare for the potential commercialization of elafibranor for NASH as well as support its general corporate purposes.