Genfit Reports Revenues of 65.4 Million Euros in 2025, Driven by the Commercialization of Iqirvo
Biotechnology company Genfit recorded revenues of 65.4 million euros in 2025, slightly down from 67.0 million the previous year. This performance is mainly reflected by the robust sales of Iqirvo, a treatment marketed by its partner Ipsen, which generated 208 million dollars in revenue.
Financial Overview for 2025
Genfit's total revenues for 2025 amounted to 65.4 million euros compared to 67.0 million in 2024. This decrease of 1.6 million is offset by a significant increase in royalty income. Royalties from global sales of Iqirvo reached 21.8 million euros in 2025, up from 2.7 million the previous year, while milestone revenues were 43.6 million euros, down from 48.7 million in 2024. Two major milestones make up this amount: an initial commercial milestone of 17.0 million euros, triggered after Iqirvo sales exceeded 200 million dollars in its first full year, and a milestone of 26.55 million euros following the approval of the treatment's commercialization in Italy.
Cash Position and Investments
Genfit's cash reserves stood at 101.1 million euros as of December 31, 2025, up from 81.8 million recorded a year earlier, but down from 119.0 million as of September 30, 2025. This fluctuation reflects operating and capital expenditures invested in research and development programs, particularly in the portfolio for acute hepatic insufficiency on chronic cirrhosis and in cholangiocarcinoma. These investments are partially offset by commercial milestones received as part of the long-term strategic partnership with Ipsen, signed in December 2021. In January 2026, Genfit activated the second tranche of a royalty financing agreement for an amount of 30.0 million euros. The group notes that this second payment, as well as the first commercial milestone of 17.0 million euros, are not included in its cash position as of December 31, 2025.
Operational Sustainability and Pipeline Developments
Genfit states that its current cash reserves will fund its operational and investment needs beyond the end of 2028, based on current assumptions and the continuation of existing programs. This estimation includes the receipt of significant future commercial milestones under the Ipsen partnership and the optional drawing of the third and final tranche of the royalty financing. In terms of the pipeline, the G1090N program in acute hepatic insufficiency on chronic cirrhosis has delivered preliminary Phase 1 data showing a robust safety profile and anti-inflammatory activity. In cholangiocarcinoma, the GNS561 molecule combined with a MEK inhibitor has produced encouraging results in Phase 1b in KRAS mutated tumors, with a Phase 2 initiation planned for the second half of 2026. Ipsen has confirmed the launch of the first global Phase 3 clinical trial of Iqirvo in primary sclerosing cholangitis.
