Shares of biopharmaceutical company Genfit S.A. (NASDAQ:GNFT) are in focus today after its partner Ipsen delivered positive topline results from a Phase 3 trial evaluating elafibranor for the treatment of primary biliary cholangitis (PBC) which is a rare cholestatic liver disease.
The study achieved its primary composite endpoint as well as its first secondary endpoint. The drug demonstrated a statistically significant number of subjects experiencing a clinically meaningful cholestasis response versus a placebo.
Further, the drug was observed to be well tolerated alongside a consistent safety profile. Without proper treatment, PBC can cause liver failure and elafibranor could potentially be an effective treatment to prevent its progression.
Next, Ipsen plans to engage in discussions with healthcare regulators and move toward a regulatory submission in the U.S. as well as the European Union.
Genfit shares have gained nearly 25.8% over the past year and the Street has a $9 consensus price target on the stock alongside a Moderate Buy consensus rating.
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