GENFIT SA (GNFT) Sees Strong IPO Debut on Nasdaq

GENFIT SA (NASDAQ: GNFT) started trading on the NASDAQ today at $22.00 after pricing of its global offering to specified categories of investors 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”), at an offering price of $20.32 per ADS (the “ADS Offering”) and a concurrent private placement of 500,000 ordinary shares in Europe (including France) and other countries outside of the United States at the corresponding offering price of €18.00 per ordinary share (the “European Private Placement,” and together with the ADS Offering, the “Global Offering”), for aggregate gross proceeds of approximately $135.1 million before deducting underwriting commissions and expenses payable by the Company.

In addition, GENFIT has granted the underwriters for the Global Offering a 30-day option to purchase up to 997,500 additional ADSs and/or ordinary shares on the same terms and conditions, representing 15% of the ADSs and/or ordinary shares to be issued by the Company in the Global Offering (the “Underwriters’ Option”). All of the ADSs and ordinary shares in the Global Offering are being offered by GENFIT.

The 6,650,000 ordinary shares issued in the Global Offering (including ordinary shares in the form of ADSs) will represent 18% of the total issued share capital of the Company of 37,833,921 ordinary shares (including ordinary shares in the form of ADSs) on a non-diluted basis following the closing of the Global Offering. In the event the Underwriters’ Option is exercised in full, the Company will issue a total of 7,647,500 new shares (including ordinary shares in the form of ADSs) in the Global Offering, which would represent 20% of the total issued share capital of the Company on a non-diluted basis.

SVB Leerink and Barclays are acting as joint global coordinators for the Global Offering and joint bookrunners for the ADS Offering. Roth CapitalPartners and H.C. Wainwright & Co. are acting as co- managers of the ADS Offering. Bryan, Garnier & Co. Limited and Natixis are acting as joint bookrunners with respect to the European Private Placement.

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).

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