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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Loss Per Share

EUR 0.52

H1 Pretax Loss

EUR 26.12 mln

H1 Net Loss

EUR 26.12 mln

H1 Loss Per Basic Share

EUR 0.52

H1 Operating Income

-EUR 8.72 mln


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

  • Sept 28 - France's Inventiva H1 net loss narrows

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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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