France's Genfit H1 revenue falls due to absence of milestone payments 

Overview

• France biopharma firm's H1 revenue fell yr/yr due to lower milestone payments

• Net loss widened in H1 2026, reflecting higher financial expenses and lower revenue

• Royalty revenue from Ipsen's Iqirvo more than tripled in H1 2026

Outlook

• Genfit expects cash and cash equivalents to fund operations beyond end-2028

• Ipsen doubles Iqirvo peak annual global sales target in PBC to €1 bln

• IQVIA estimates U.S. peak sales for NIS technology products could exceed $1.5 bln by 2033

Result Drivers

• ROYALTY REVENUE SURGE - Co said royalty revenue from Ipsen's Iqirvo more than tripled in H1 2026, driven by accelerated sales growth and strong launches in the US and Europe

• ABSENCE OF MILESTONE PAYMENTS - Co said revenue fell yr/yr mainly due to no milestone revenue in H1 2026, compared to a large milestone payment in H1 2025

• HIGHER FINANCIAL EXPENSES - Co said financial expenses increased in H1 2026, mainly due to changes in fair value of royalty financing liability

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Genfit SA is €15.00, about 52.4% above its September 28 closing price of €9.84

Reuters Recommended Reads

• Sept 28 - French medical imaging firm Guerbet H1 EBITDA margin falls on Raleigh site costs

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• Sept 25 - US FDA approves Mirum's drug for rare bone disorder

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)