Genfit GNFT on Monday afternoon announced a partnership with Terns Pharmaceuticals to develop and commercialize Elafibranor in Greater China.
Genfit will receive an upfront payment of $35 million and will be eligible to receive up to $193 million in potential clinical, regulatory and commercial payments. Under the agreement, Terns will have the rights to develop and commercialize elafibranor, Genfit’s proprietary compound, in Greater China.
Genfit is a late-stage biopharmaceutical company dedicated to the treatment of metabolic and liver-related diseases.
The stock traded higher by 2.8% to $20.80 in Tuesday's pre-market session. The stock made its market debut on March 27.
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