View Filing Data

Current trade and others receivables

€ 276,748

€ 207,240

^[1]

€ 273,820

^[1]

12,033

8,794

^[1]

7,955

^[1]

Other current financial assets

^[1]

Other current assets

1,968

2,078

^[1]

1,761

^[1]

Inventories

^[1]

Total - Current assets

290,753

218,116

^[1]

283,572

^[1]

Non-current assets

Intangible assets

920

796

^[1]

636

^[1]

Non-current trade and other receivables

16,453

7,764

^[1]

6,324

^[1]

^[1]

1,489

1,921

Other non-current financial assets

1,727

1,313

^[1]

729

^[1]

Total - Non-current assets

^[1]

19,099

11,362

^[1]

9,611

^[1]

Total - Assets

309,853

229,478

^[1]

293,183

^[1]

Current liabilities

Current convertible loans

1,312

^[1]

1,329

^[1]

Current trade and other payables

3,226

1,848

^[1]

1,834

^[1]

36,917

35,974

^[1]

23,580

^[1]

Current deferred income and revenue

139

^[1]

Current provisions

2,061

112

^[1]

361

^[1]

Total - Current liabilities

43,657

39,248

^[1]

27,106

^[1]

Non-current liabilities

Non-current convertible loans

164,142

159,176

^[1]

154,539

^[1]

Non-current trade and other payables

14,939

7,255

^[1]

6,978

^[1]

450

Non-current deferred income and revenue

^[1]

Non-current employee benefits

1,408

1,085

^[1]

936

^[1]

Total - Non-current liabilities

1,193

1,773

^[1]

2,165

^[1]

182,132

169,291

^[1]

164,620

^[1]

Shareholders' equity

Share capital

9,715

7,796

^[1]

7,792

^[1]

Share premium

377,821

251,554

^[1]

251,932

^[1]

Retained earnings (accumulated deficit)

(238,340)

(158,897)

^[1]

(102,531)

^[1]

Currency translation adjustment

^[1]

(8)

^[1]

Total shareholders' equity - Group share

(65,144)

(79,521)

^[1]

(55,728)

^[1]

84,065

20,939

^[1]

101,457

^[1]

Total - Shareholders' equity

84,065

20,939

^[1]

101,457

^[1]

Total - Shareholders' equity & liabilities

€ 309,853

€ 229,478

^[1]

€ 293,183

^[1]

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Consolidated Statements of Operations - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

^[1]

Revenues and other income

Revenue

€ 30,839

€ 69

€ 118

Revenues and other income

10,122

7,425

6,737

40,961

7,494

6,856

Operating expenses and other operating income (expenses)

(66,170)

(67,024)

(54,189)

(17,265)

(9,076)

(9,421)

(13,708)

(717)

Net profit (loss) before tax

(1,649)

(162)

Operating income (loss)

(57,832)

(69,484)

(56,695)

Financial income

5,221

728

^[2]

642

^[2]

Financial expenses

(13,110)

(11,118)

^[2]

(3,096)

^[2]

Financial profit (loss)

(7,889)

(10,391)

^[2]

(2,453)

^[2]

(65,721)

(79,875)

(59,148)

Income tax benefit (expense)

576

354

3,420

Attributable to owners of the Company

(65,144)

(79,521)

^[3]

(55,728)

^[3]

€ (65,144)

€ (79,521)

€ (55,728)

Basic and diluted earnings (loss) per share

Basic and diluted earnings (loss) per share (€/share)

€ (1.76)

€ (2.55)

€ (1.79)

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7
[2]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.
[3]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of the application is presented in note 4.7

Consolidated Statements of Other Comprehensive Loss - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

^[2]

Dec. 31, 2017

^[2]

Statement Of Comprehensive Income [Abstract]

Actuarial gains and losses net of tax

€ (65,144)

€ (79,521)

^[1]

€ (55,728)

^[1]

(168)

(31)

(210)

Other comprehensive income (loss) that will never be reclassified to profit or loss

(168)

(31)

(210)

Exchange differences on translation of foreign operations

(29)

Other comprehensive income (loss) that are or may be reclassified to profit or loss

(29)

Attributable to owners of the Company

(65,304)

(79,537)

(55,967)

€ (65,304)

€ (79,537)

€ (55,967)

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of the application is presented in note 4.7

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

Cash flows from operating activities

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2019-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2019-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2019-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2019-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2019-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2019-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2019-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2019-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2019-03-27

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2019-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2019-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2019-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_23&doctype=Standard
-URIDate 2019-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2019-03-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2019-03-27

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2019-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2019-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2019-03-27

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2019-03-27

+ Details

Consolidated Statements of Cash Flows - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

+ Depreciation and amortization on tangible and intangible assets

€ (65,144)

€ (79,521)

^[1],[2]

€ (55,728)

^[1],[2]

Adjustments for:

3,263

1,819

+ Impairment and provision for litigation

357

(208)

1,657

787

- Gain on disposal of property, plant and equipment

(19)

(2)

+ Net finance expenses (revenue)

11,437

10,971

+ Income tax expense (benefit)

(576)

(354)

+ Other non-cash items including Research Tax Credit litigation

1,702

Operating cash flows before change in working capital

(47,324)

(66,507)

Change in:

Decrease (increase) in trade receivables and other assets

(1,640)

(724)

(Decrease) increase in trade payables and other liabilities

1,284

11,056

Change in working capital

(356)

10,332

Income tax paid

Net cash flows used in operating activities

(47,680)

(56,081)

Cash flows from investing activities

- Acquisition of property, plant and equipment

(2,030)

(2,938)

+ Proceeds / reimbursement from disposal of property, plant and equipment

2,517

- Acquisition of financial instruments

(160)

(1,050)

Net cash flows provided by (used in ) investment activities

327

(3,986)

Cash flows from financing activities

+ Proceeds from issue of share capital (net)

126,486

+ Proceeds from subscription / exercise of share warrants

+ Proceeds from new loans and borrowings net of issue costs

1,800

- Repayments of loans and borrowings

(1,884)

(2,000)

- Financial interests paid (including finance lease)

(7,785)

(6,351)

Net cash flows provided by (used in ) financing activities

116,860

(6,514)

Increase (decrease) in cash and cash equivalents

69,508

(66,580)

Cash and cash equivalents at the beginning of the period

^[3]

207,240

273,820

Cash and cash equivalents at the end of the period

€ 276,748

207,240

^[3]

273,820

^[3]

Previously stated

Cash flows from operating activities

+ Depreciation and amortization on tangible and intangible assets

(55,728)

Adjustments for:

1,226

+ Impairment and provision for litigation

186

278

- Gain on disposal of property, plant and equipment

+ Net finance expenses (revenue)

2,296

+ Income tax expense (benefit)

(3,420)

+ Other non-cash items including Research Tax Credit litigation

Operating cash flows before change in working capital

(55,137)

Change in:

Decrease (increase) in inventories

Decrease (increase) in trade receivables and other assets

(2,106)

(Decrease) increase in trade payables and other liabilities

7,364

Change in working capital

5,268

Income tax paid

Net cash flows used in operating activities

(49,856)

Cash flows from investing activities

- Acquisition of property, plant and equipment

(2,800)

+ Proceeds / reimbursement from disposal of property, plant and equipment

- Acquisition of financial instruments

(163)

Net cash flows provided by (used in ) investment activities

(2,948)

Cash flows from financing activities

+ Proceeds from subscription / exercise of share warrants

+ Proceeds from new loans and borrowings net of issue costs

177,338

- Repayments of loans and borrowings

(1,655)

- Financial interests paid (including finance lease)

(1,372)

Net cash flows provided by (used in ) financing activities

174,348

Increase (decrease) in cash and cash equivalents

121,544

Cash and cash equivalents at the beginning of the period

€ 273,820

152,277

Cash and cash equivalents at the end of the period

€ 273,820

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of the application is presented in note 4.7
[3]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Consolidated Statements of Changes in Equity - EUR (€)
€ in Thousands

Total

Share Capital

Share Premium

Treasury Shares

Retained Earnings (Accumulated Deficit)

Currency Translation Adjustment

Net Profit (Loss)

Total Shareholders' Equity Group Share

Balance at Dec. 31, 2016

€ 142,797

€ 7,792

€ 237,305

€ (127)

€ (68,527)

€ 21

€ (33,667)

€ 142,797

Balance, shares at Dec. 31, 2016

31,166,437

Other comprehensive income (loss)

(55,728)

^[1],[2]

(55,728)

(239)

(210)

(29)

(239)

Allocation of prior period profit (loss)

(55,967)

^[2]

(210)

(29)

(55,728)

(55,967)

(33,667)

33,667

Equity component of OCEANE net of deferred taxes

14,312

Balance, shares at Dec. 31, 2017

278

Other movements

Balance at Dec. 31, 2017

101,457

^[3]

€ 7,792

251,932

(127)

(102,404)

(8)

(55,728)

101,457

31,166,437

Other comprehensive income (loss)

(79,521)

^[1],[2]

(79,521)

(17)

(31)

(17)

Allocation of prior period profit (loss)

(79,537)

^[2]

(31)

(79,521)

(79,537)

(55,728)

55,728

Capital increase

(1,201)

€ 4

(1,201)

(4)

(1,201)

Capital increase, shares

17,484

Balance, shares at Dec. 31, 2018

787

Treasury shares

(603)

Other movements

Balance at Dec. 31, 2018

20,939

^[3]

€ 7,796

251,554

(730)

(158,167)

(79,521)

20,939

31,183,921

Other comprehensive income (loss)

(65,144)

(160)

(168)

(160)

Allocation of prior period profit (loss)

(65,304)

(168)

(65,144)

(65,304)

(79,521)

79,521

Capital increase

126,479

€ 1,919

124,567

(7)

126,479

Capital increase, shares

7,674,696

Balance, shares at Dec. 31, 2019

1,657

Treasury shares

252

Other movements

Balance at Dec. 31, 2019

€ 84,065

€ 9,715

€ 377,821

€ (478)

€ (237,862)

€ 14

€ (65,144)

€ 84,065

38,858,617

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of the application is presented in note 4.7
[3]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

The Company

12 Months Ended

Dec. 31, 2019

Company Information [Abstract]

The Company

1.	THE COMPANY

Founded in 1999 under the laws of France, GENFIT S.A. (the "Company") is a late-stage biopharmaceutical company dedicated to the discovery and development of innovative drugs and diagnostic tools in therapeutic areas of high unmet need due in particular to the lack of effective treatments or diagnostic solutions and/or the increase in patients worldwide. The Company concentrates its research and development (R&D) efforts in the potential marketing of therapeutic and diagnostic solutions to combat certain metabolic, inflammatory, autoimmune and fibrotic diseases affecting in particular the liver (such as non-steatohepatitis alcoholic - NASH) and more generally gastroenterological diseases.

The consolidated financial statements of the Company include the financial statements of GENFIT S.A. and those of its wholly-owned subsidiaries: GENFIT CORP (U.S. subsidiary) and GENFIT PHARMACEUTICALS SAS (French subsidiary) (together referred to in these notes to the consolidated financial statements as "GENFIT" or the "Group").

Major Events In The Period

12 Months Ended

Dec. 31, 2019

Disclosure Of Major Events In Period [Abstract]

Major Events In The Period

2.	MAJOR EVENTS IN THE PERIOD

2.1	Initial Public Offering on the Nasdaq Global Select Market

On March 29, 2019, Genfit completed a capital increase to a specified categories of investors, without preferential subscription rights, of an aggregate of

•

7,147,500 ordinary shares in the form of American Depositary Shares, each representing one ordinary share (“ADSs”), at a public offering price of $20.32 per ADS (the “ADS Offering”), and

•

500,000 ordinary shares in Europe (including France) and countries outside of the United States at the corresponding offering price of €18.00 per ordinary share (the “European Private Placement,” and together with the ADS Offering, the “Global Offering”).

The number of shares issued in the ADS Offering includes an additional 997,500 ADSs issued upon the full exercise by the underwriters for the Global Offering (the “Underwriters”) of their option to purchase additional ADSs (the “Underwriters’ Option”).

Aggregate gross proceeds of the Global Offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company, were approximately US $155.4 million (or €137.6 million based on the March 26, 2019 exchange rate of 0.88566 dollars to 1 euro). All of the ADSs and ordinary shares in the Global Offering were offered by GENFIT (see the consolidated statements of changes in equity.)

The ADSs have been listed for trading on Nasdaq since March 27, 2019.

The expenses incurred and deducted from the issue premium are broken down as follows:

Expenses related to the global offering
(in € thousands)
Registration, filling, listing fees	(290	)
Underwriting	(9,634	)
Legal fees and expenses	(1,225	)
Accounting fees and expenses	(1,045	)
Printing expenses	(160	)
TOTAL	(12,354	)

A total of €12.3 million of expenses were incurred, of which € 1.2 million were incurred and recorded at December 31, 2018.

2.2.	Licensing Agreements

LabCorp Agreement

On January 2, 2019, the Company signed a licensing agreement with Covance, LabCorp’s drug development business. The licensing agreement will expand access to NIS4, a non-invasive IVD technology developed by Genfit to identify and monitor NASH patients, in the clinical research space. The primary focus of the licensing agreement will be to deploy NIS4 in the clinical research space through Covance’s central laboratories to further validate the test’s use for better identification and characterization of patients. Following commercial launch of NIS4 through Covance’s central laboratories, the Company expects to recognize revenues under this agreement during the course of 2020.

Terns Pharmaceuticals Agreement

On June 24, 2019, the Company signed a of a licensing and collaboration agreement with Terns Pharmaceuticals, an international company based in the United States and China, dedicated to the development of new therapies for the treatment of liver diseases.

Pursuant to the agreement, Terns Pharmaceuticals obtained the exclusive rights to develop and market elafibranor in mainland China, Hong Kong, Macau and Taiwan (“Greater China”) for both NASH and PBC.

The main terms of the agreement include:

•

An exclusive license with the right to sublicense to develop, manufacture, distribute and market elafibranor for the treatment of patients suffering from NASH and PBC in Greater China;

•

The Company’s undertaking to transfer to Terns Pharmaceuticals its know-how and data regarding elafibranor;

•

The Company’s undertaking to provide, or have provided to Terns Pharmaceuticals the drug product it requires for its clinical trials.

As part of the deal, GENFIT and Terns Pharmaceuticals will also undertake joint R&D projects in liver disease, including the development of elafibranor in combination with Terns Pharmaceuticals’ proprietary compounds.

Under the terms of the licensing agreement, GENFIT has received or may receive:

•

A $35 million upfront payment upon the signature of the agreement, received on July 3, 2019;

•

Clinical and regulatory milestone payments;

•

Commercial milestone payments;

•

Mid-teen percentage royalties based on sales in the territory.

The potential clinical, regulatory and commercial milestone payments represent up to USD$193 million.

2.3.	Extension of corporate headquarters

In May 2018, Genfit signed an agreement with the lessor of its corporate headquarters to extend in 2019 the current lease, that was at the time set to expire in 2022, for another ten years and to lease for ten years a new building to be built on the same premises. The new lease agreement is non-cancellable for a nine year period beginning in 2019.

Pursuant to the agreement, Genfit acted as agent of the lessor for the construction of the new building and was responsible for the cost of its construction. The agreement provides that the lessor must reimburse Genfit for costs of construction up to €2.5 million. All costs incurred above €2.5 million will be assumed by Genfit.

Basis of Presentation

12 Months Ended

Dec. 31, 2019

Disclosure Of Basis Of Presentation [Abstract]

Basis of Presentation

3.	BASIS OF PRESENTATION

The Consolidated Financial Statements of GENFIT have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), and as adopted by the European Union at December 31, 2019.

The consolidated financial statements have been prepared using the historical cost measurement basis except for certain assets and liabilities that are measured at fair value in accordance with IFRS.

These consolidated financial statements for the year ended December 31, 2019 were prepared under the responsibility of the Board of Directors that approved such statements on May 20, 2020.

The term IFRS includes International Financial Reporting Standards ("IFRS"), International Accounting Standards (the "IAS"), as well as the Interpretations issued by the Standards Interpretation Committee (the "SIC"), and the International Financial Reporting Interpretations Committee ("IFRIC").

The principal accounting methods used to prepare the condensed Consolidated Financial Statements are described below.

All financial information (unless indicated otherwise) is presented in thousands of euros (€).

3.1.	Changes in accounting policies and new standards or amendments

The Group adopted IFRS 16 Leases on January 1, 2019. The new IFRIC 23 standard “Uncertainty over Tax Treatment”, came into effect on January 1, 2019, but they had no significant effect on Group financial statements.

Other required standards and interpretations, applicable from January 1, 2019, do not have any significant effect on the Group’s financial statements for the year ended December 31, 2019. They concern, principally:

•

Amendment to IFRS9: “Prepayment features with negative compensation”

•

Amendment to IAS 28: “Long-term interests in Associates and Joint Ventures”

•

Amendment to IAS 19 “Plan Amendment, Curtailment or Settlement”

New or amended policies or standards

Effective date

Potential impact on

consolidated financial

statements

IFRS 16

Leases

IFRS 16 aligns the accounting for operating leases with that of finance leases

Applicable for all reporting periods from January 1, 2019

The group adopted IFRS 16 using the modified retrospective method and elected to apply it to contracts that were previously identified as leases under IAS 17 and IFRIC 4. The Group used the exemptions provided for leases whose term is less than 12 months from the date of 1st application and those relating to assets of low value.

See note 4.7 to the consolidated financial statement

3.2.	Standards, interpretations and amendments issued but not yet effective

The Group has not identified any standards or amendments issued but not yet effective as of January 1, 2020 that may have a significant impact on the Group's consolidated financial statements.

However, following publication of the final decision of IFRS IC on December 16, 2019 relating to the duration of leases and its interaction with the amortization period for non-removable fixtures, the Group is in the process of identifying those agreements which may be impacted, collecting the necessary information and performing analyses in order to estimate the possible impacts of this decision.

These analyses mainly relate to the identification of agreements that may be impacted, the collection of relevant information, in particular among existing fixtures, the determination of estimates to define the execution period and the rental period.

As of December 31, 2019, the Group’s analysis of the impact of the IFRS IC decision requires sufficient time and is still ongoing. Its implementation could result in an extension of the rental period initially assumed and lead to a revision of the lease debt and the right of use asset relating to the relevant leases.

However, the Group should not be significantly impacted given the absence of contracts with an automatic renewal / extension of rental period or contracts that may be terminated for an indefinite period, and for which the lease period is likely to be modified following completion of the analyses.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Disclosure Of Voluntary Change In Accounting Policy [Abstract]

Summary of Significant Accounting Policies

4.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

4.1.	Use of estimates and judgments

In preparing these consolidated financial statements, management makes judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, incomes and expenses. Actual amounts may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

The estimates and underlying assumptions mainly relate to research tax credits (see Note 4.19.2, "Research tax credit", employee benefits (see Note 4.18, "Employee benefits"), share-based payments (see Note 20, "Share-based compensation"), accruals related to clinical trials (see Note 19, "Operating expenses") and convertible loans (see Note 12, "Loans and Borrowings").

4.2.	Consolidation

The Group controls an entity when it is exposed to variable returns from its involvement with the entity, and it has the ability to affect those returns through its power over the entity.

The Group controls all the entities included in the scope of consolidation.

4.3.	Foreign currency

4.3.1.

Foreign currency transactions

Transactions in foreign currencies are translated into the respective functional currencies of the entities of the Group at the exchange rates applicable at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the reporting date.

The resulting exchange gains or losses are recognized in the statements of operations.

4.3.2.

Translation of foreign subsidiary financial statements

The assets and liabilities of foreign operations having a functional currency different from the euro are translated into euros at the closing exchange rate. The income and expenses of foreign operations are translated into euros at the exchange rates effective at the transaction dates or using the average exchange rate for the reporting period, unless this method cannot be applied due to significant exchange rate fluctuations.

Gains and losses arising from foreign operations are recognized in the statement of other comprehensive loss. When a foreign operation is partly or fully divested, the associated share of gains and losses recognized in the currency translation reserve is transferred to the statements of operations.

The Group’s presentation currency is the euro, which is also the functional currency of GENFIT S.A. The functional currency of GENFIT CORP is the U.S. dollar. The applicable exchange rates used to translate the financial statements of this entity for each of the periods are as follows:

	Year ended		Year ended		Year ended
Ratio : 1 US dollars (USD) = x euros (EUR)	2017/12/31		2018/12/31		2019/12/31
Exchange rate at period end		0.83382		0.87336		0.89015
Average exchange rate for the period		0.88704		0.84758		0.89341

4.4	Revenues from ongoing activities under client agreements

The Group signed an agreement with Terns Pharmaceuticals on June 24, 2019. The Group’s accounting policies associated with revenue are as follows:

4.4.1.

IFRS 15

Under IFRS 15, revenue is recognized when the Company fulfills a performance obligation by providing separate goods or services to a customer, i.e., when the customer obtains control of those goods or services. An asset is transferred when the customer obtains control of that asset or service.

Under this standard, each contract must be analyzed, on a case-by-case basis, in order to verify whether it contains performance obligations towards third parties, and, if applicable, to identify their nature in order to determine the appropriate accounting of amounts that the Company has received or is entitled to receive from third parties, for example:

•

The transfer of control over the intellectual property, via a license granted by the Company, as it exists at the time of the sale, the date of which will determine that of the revenue recognition;

•

If the license is considered as a right of access to the intellectual property of the Company over the life of the license, the revenue would be recognized over this lifetime;

•

The supply of products whose revenues would be recognized at the time of transfer of control of the delivered products,

•

Potential revenue from milestones, or from royalties or royalties based on sales, would not be recognized until the achievement of the milestone or completion of the sale.

4.4.2

Application to the Terns Pharmaceuticals license agreement

The Company identified three performance obligations under the license agreement with Terns:

•

An exclusive license, with the right to sub-license, to develop, manufacture, distribute and promote elafibranor in NASH and PBC in Greater China;

•

A transfer to Terns Pharmaceuticals of the Company’s Licensed Know-How and data regarding elafibranor and related support until the Marketing Authorization Application by Terns Pharmaceuticals; and

•

Supply by the Company to Terns Pharmaceuticals of drug product to carry out its clinical trials in Greater China. The supply of drug product following the market authorization would be subject to a separate agreement if applicable.

Under the terms of the licensing agreement, the Company has received or could potentially receive:

•

A $35 million non-refundable Upfront Payment payable within 10 business days from June 24, 2019 upon the transfer of the existing Company’s Licensed Know-How. This Upfront Payment was received on July 3, 2019;

•

Development Milestone Payments upon the achievement of the development milestones for the licensed product;

•

Commercial Milestone Payments upon the achievement of commercial milestones depending on reaching certain aggregate thresholds;

•

Mid-teen percentage Royalties based on sales by Terns Pharmaceuticals in Greater China; and

•

Compensation for the supply of drug product for the clinical trials on a cost-plus basis.

The potential Development and Commercial Milestone payments may represent up to $193 million.

Under IFRS 15, the allocation and recognition of revenue was determined as follows based on the fair value of each of the performance obligations:

•

The $35 million upfront payment was allocated to the license and the transfer of the existing know-how and related support to Terns Pharmaceuticals based on an estimate of the latter measured as the maximum estimated value to be incurred by the Company’s employees and management for the support given to Terns Pharmaceuticals. On this basis, $34.9 million was recognized as revenue in 2019 and $0.1 million was deferred to future periods.

•

Development and Commercial Milestones Payments whose payment depends on the achievement of certain scientific, regulatory or commercial objectives, as provided in the contract, are variable compensation that will be recognized as revenue when the milestones are met. No amounts were recognized in 2019.

•

Royalties on commercial sales by Terns Pharmaceuticals will be recognized as revenue pursuant to information given to the Company by Terns Pharmaceuticals, under the terms and timeframes set out in the agreement. No amounts were recognized in 2019.

•

Revenue on Supply for drug product will be recognized based on the delivery of drug product to Terns Pharmaceuticals. No amounts were recognized in 2019.

As part of this agreement, Genfit and Terns Pharmaceuticals will also undertake joint research and development projects in liver disease, including the development of elafibranor in combination with Terns Pharmaceuticals’ proprietary compounds. This collaboration agreement is only potential at the date of signing the license agreement and does not yet constitute a reciprocal commitment at December 31, 2019. It therefore has no accounting impact at this time.

This contract contains several delivery obligations. As a result, the Company has ensured, as required by IFRS 15, that the revenue allocation of the transaction corresponds to the fair value of each obligation.

4.5.	Intangible assets

Intangible assets mainly consist of software and operating licenses acquired by the Group. They are recognized at cost less accumulated amortization and impairment. Amortization expense is recorded on a straight-line basis over the estimated useful lives of the intangible assets. The estimated useful lives of both software and license agreements are between 1 and 8 years.

4.6.	Property, plant and equipment

Property, plant and equipment are initially recognized at cost. Cost includes expenditures that are directly attributable to the acquisition of the asset. Routine maintenance costs are expensed as incurred.

Subsequently, depreciation expense is recognized on a straight-line basis over the estimated useful lives of the assets. If components of property, plant and equipment have different useful lives, they are accounted for separately. Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.

Estimated useful lives are as follows:


Building on non-freehold land		10 years
Fittings and fixtures		Between 9 and 25 years
Scientific equipment		Between 2 and 12 years
Computer equipment		Between 2 and 5 years
Furniture		Between 4 and 10 years
Vehicles		Between 4 and 6 years

Any gain or loss on disposal of an item of property, plant and equipment is determined by comparing the proceeds from disposal with the carrying amount of the item. The net amount is recognized in the consolidated statements of operations under the line item "Other operating income (expenses)."

4.7.

Leases

4.7.1

IFRS 16 and IAS 17

The Group has applied IFRS 16 in accordance with the modified retrospective method, under which the cumulative effect of the adoption of IFRS 16 is recorded as an adjustment to the balance of accumulated deficit as at January 1, 2019. As a result, comparative information presented for 2018 has not been restated and is therefore presented, as before, in accordance with the principles of IAS 17 and its interpretations. The resulting changes in accounting policies are explained in detail below.

Significant accounting policies of IAS 17

Finance leases

When substantially all of the risks and rewards of ownership are transferred from the lessor to the lessee, the leases are classified as finance leases, resulting in the initial recognition of an asset equal to the fair value of the relevant property or the present value of the minimum future payments due under the contract, whichever is lower. They are subsequently amortized or depreciated, as the case may be. The resulting financial liabilities are recorded in current and non current “other loans and borrowings”.

Operating leases

A lease agreement is qualified as an operating lease when substantially all of the risks and rewards of ownership are not transferred to the lessee. Payments under operating leases are recognized as an expense on a straight-line basis over the term of the lease. Benefits received from the lessor such as rent suspensions or variable payments are allocated on a straight-line basis over the term of the lease.

Significant accounting policies under IFRS 16

IFRS 16 introduces for the lessee a single model of accounting on the balance sheet for leases. The lessee recognizes a "right of use" asset which represents its right to use the underlying asset, and a lease liability for its obligation to pay the rent.

The Group recognizes a "right of use" asset and a lease liability at the start of the lease term. The "right of use" asset is initially measured at cost and then at cost less any amortization and accumulated impairment losses. The amount can be adjusted based on certain revaluations of the lease liability.

The lease liability is initially measured at the discounted value of the rents owed and not yet paid at the start date of the contract. The discount rate used is the implicit interest rate of the contract or, if it cannot be easily determined, the Company’s incremental borrowing rate. The Group generally uses the latter as the discount rate.

The lease liability is then adjusted by the interest expense minus the amounts of rent paid. It is revalued in the event of a change in future rents following a change in the index or rate, a new estimate of the amount to be paid under a residual value guarantee or, where applicable, a revaluation of the exercise of an option to purchase or to extend, or the non-exercise of an option to terminate (which then becomes reasonably certain).

The Group has exercised its judgment in determining the term of the lease agreements that provide for extension options. The fact that the Group has determined that it is reasonably certain to exercise such options has an impact on the lease term used and has a significant impact on the amount of lease debt and the "right of use" asset in the accounts.

4.7.2

Application of the new IFRS 16 standard

IFRS 16 “Leases”, adopted by the European Union on October 31, 2017, is mandatorily applicable for the reporting periods starting on or after January 1, 2019. It replaces IAS 17 “Leases” and its interpretations.

This new standard removes the concepts of finance lease and operating lease for the lessee and requires all leases to be recognized on the lessee's balance sheet in the form of a "right of use" asset with the corresponding entry for a financial debt. The Group's leases, formerly classified as operating leases in accordance with IAS 17, concern real estate assets, including the Group's corporate headquarters.

Contracts formerly classified as finance leases include, in particular, scientific equipment.

As part of the transition, the Group adopted the "modified retrospective" method and chose to apply some of the practical expedients offered by IFRS 16, namely:

•

The exclusion of contracts of less than 12 months duration;

•

Exclusion of low value contracts;

•

Carryforward of contracts previously accounted for as finance lease contracts under IAS 17 "Leases".

The new standard is implemented as follows:

•

The lease term for a contract corresponds to its non-cancellable period, extended, as the case may be, based on the Group's assessment of the reasonably certain nature of the exercise of contractual renewal or cancellation options;

•

The discount rate applied is the incremental borrowing rate corresponding to the duration of the contract, in the absence of an implicit rate in the contract. To determine the incremental borrowing rate, the Group determined the remaining term of the contracts as from January 1, 2019. The weighted average incremental borrowing rate at January 1, 2019 was 1.26%. Duration is the average life of financial flows weighted by their discounted value.

"Right of use" assets and lease liabilities were recognized in the Group's balance sheet as at January 1, 2019 for € 9,227 and € 8,947, respectively.

In accordance with IFRS 16, the Group has chosen to present the “right of use” assets in the same line item as property, plant and equipment as the assets of the same type.

As of December 31, 2018, the differences between the commitments related to operating leases presented in application of IAS 17 and the lease liability estimated in accordance with IFRS 16 can be explained as follows:

In € thousands	12/31/2018
Operating lease commitments as a lessee, as of 12/31/2018 as published	4,791
Differences related to extension options for which the exercise is reasonably certain	5,264
Differences in the amounts retained for the calculation of commitments and lease liability	(396)
Expenses not included in the lease liability but included in the commitments	(190)
Undiscounted lease liability estimated under IFRS 16 at 1/1/2019	9,469
Impact of discount	(522)
Lease liability estimated under IFRS 16 at 1/1/2019	8,947

The impact of the duration is entirely attributable to the Group's headquarters, where an agreement to extend the building led to a revision of the commitment period for Genfit and the lessor under this lease.

The lease expense that would have been recognized in 2019 if IAS 17 had applied would have amounted to € 1,480. Under IFRS 16, expenses recognized in 2019 amounted to € 1,241 in depreciation for right of use assets and € 128 in interest expense.

4.8.	Impairment of tangible assets, intangible assets and goodwill

If indicators of impairment are identified, amortizable intangible assets and depreciable tangible assets are subject to an impairment test under the provisions of IAS 36, Impairment of Assets .

The Company does not have any goodwill.

4.9.Financial instruments

IFRS 9 “Financial Instruments” replaces IAS39 “ Financial Instruments: Recognition and Measurement” starting from the 2018 financial year and takes into account three aspects of booking financial instruments:

•

Classification and measurement;

•

Impairment;

•

Hedge accounting.

As was the case in the previous periods, application of IFRS 9 does not have an impact on the Group’s financial statements.

Loans and borrowings are initially measured at fair value and subsequently recorded at amortized cost.

4.10.

Inventories

The Company recognizes inventories of laboratory consumables in connection with its former co-research agreements.

These inventories are measured at the lower of cost and net realizable value. Cost is determined using the weighted average cost method.

4.11.

Trade and other receivables

Trade and other receivables are recognized at fair value, which is the nominal value of invoices unless payment terms require a material adjustment for the time value discounting effect at market interest rates. Trade receivables are subsequently measured at amortized cost. A valuation allowance for trade receivables is recognized if their recoverable amount is less than their carrying amount.

Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date.

4.12.

Other financial assets

Loans and receivables are financial assets with fixed or determinable payments that are not listed on an active market and are valued using the amortized cost method.

A gain or loss arising from a change in the fair value of an available-for-sale financial asset is recognized in other comprehensive income (loss) except for impairment losses and foreign exchange gains and losses, until the financial asset is derecognized. At that time the cumulative gain or loss previously recognized in other comprehensive income (loss) is reclassified from equity to profit or loss as a reclassification adjustment.

4.13.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand, bank accounts and term deposits, together with short-term deposits and highly liquid investments. They are readily convertible to a known amount of cash and thus present a negligible risk of a change in value. They also include Undertakings for Collective Investments in Transferable Securities (UCITs) whose characteristics allow them to be classified as cash and cash equivalents.

Initially recognized at their purchase cost at the transaction date, investments are subsequently measured at fair value. Changes in fair value are recognized in net financial income (expenses).

4.14.

Equity

Share capital comprises ordinary shares and ordinary shares with double voting rights classified in equity. Costs directly attributable to the issue of ordinary shares or share options are recognized as a reduction in the share premium.

The liquidity agreement consists of a share buyback program contracted to an investment service provider. Purchases and sales of the Company's shares carried out under the contract are recognized directly in shareholders’ equity under treasury shares. See note 10 “Other financial income”.

4.15.

Loans and borrowings

Financial liabilities are initially recognized at fair value, net of directly attributable transaction costs, and are subsequently measured at amortized cost using the effective interest rate method.

The Group derecognizes financial liabilities when the contractual obligations are discharged, cancelled or expire.

The bonds convertible or exchangeable into new or existing shares (OCEANE—see Section 12.1, "Breakdown of convertible loan") are recognized as follows: in accordance with IAS 32, Financial Instruments—Presentation , if a financial instrument has different components the characteristics of which are that some could be classified as liabilities and others as equity, the issuer must recognize the different components separately.

The liability component is measured, at the date of issuance, at its fair value on the basis of future contractual cash flows discounted at market rates (taking into consideration the issuer's credit risk) of a debt having similar characteristics but without having the conversion option.

The value of the conversion option is measured by the difference between the bond's issue price and the fair value of the liability component. After deduction of the pro rata portion of expenses related to the transaction, this amount is recognized in the line item "Share premium" under shareholders' equity and is subject to a calculation of deferred tax according to IAS 12.28.

The liability component (after deduction of the portion of the expenses related to the transaction pro rata portion to the respective parts attributed to liability and the conversion option) is measured at amortized cost. A non-monetary interest expense, recorded in net loss is calculated using an effective interest rate to progressively bring the debt component up to the amount which will be repaid (or converted) at maturity. A deferred tax liability is calculated on the basis of this amount. The shareholders' equity component is not remeasured.

4.16.

Trade and other payables

Trade and other payables are initially recognized at the fair value of the amount due. This value is usually the nominal value, due to the relatively short period of time between the recognition of the instrument and its repayment.

4.17.

Provisions

Provisions are recognized when the Group has a present obligation (legal, regulatory, contractual or constructive) as a result of a past event, for which it is probable that an outflow of resources will be required to settle the obligation, and of which the amount can be estimated reliably.

The amount recognized as a provision is the best estimate at the reporting date of the expenditure required to settle the present obligation.

Provisions are discounted when the time value effect is material.

4.18.

Employee benefits

The Group's pension schemes and other post-employment benefits consist of defined benefit plans and defined contribution plans.

4.18.1.

Defined benefit plans

Defined benefit plans relate to French retirement benefit plans under which the Group is committed to guaranteeing a specific amount or level of contractually defined benefits. The obligation arising from these plans is measured on an actuarial basis using the projected unit credit method. The method consists of measuring the obligation based on a projected end-of-career salary and vested rights at the measurement date, according to the provisions of the collective bargaining agreement, corporate agreements and applicable law.

Actuarial assumptions are used to determine the benefit obligations. The amount of future payments is determined on the basis of demographic and financial assumptions such as mortality, staff turnover, pay increases and age at retirement, and then discounted to their present value. The discount rate used is the yield at the reporting date on AA credit-rated bonds with maturity dates that approximate the expected payments for the Group's obligations.

Re-measurements of the net defined benefit liability which comprise actuarial gains and losses are recognized in the statements of other comprehensive loss.

The Group determines the net interest expense on the net defined benefit liability for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability, taking into account any changes in the net defined benefit liability during the period as a result of contributions and benefit payments.

4.18.2.

Defined contribution plans

Under defined contribution plans, the management of plans is performed by an external organization, to which the Group pays regular contributions. Payments made by the Group in respect of these plans are recognized as an expense for the period in the statements of operations.

4.18.3.

Short-term employee benefits

A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay the amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

4.19.

Other income

4.19.1.

Government grants

The Group received until 2016 various forms of government grants. This government aid is provided for and managed by French state-owned entities, and specifically "BPI France" (" Banque Publique d'Investissement "), formerly named "OSEO Innovation".

Subsidies received are non-refundable. Conditional advances received are interest-free or are subject to low interest rates depending on contractual provisions.

Grants related to assets

Grants related to assets are intended to finance the purchase of long-term assets. They are presented in the statements of financial position as deferred income and recognized in the line item "Other income" in the statements of operations on a systematic basis over the useful life of the related asset.

Grants related to income

Grants related to income are intended to finance research programs.

They are presented in the statements of financial position as deferred income and recognized in the line item "Other income" in the statements of operations as and when costs related to the research programs are incurred.

Conditional advances related to research programs

Conditional advances that are interest-free or subject to low interest rates are intended to finance research program’s needs.

In accordance with IAS 20, Accounting for Government Grants and Disclosure of Government Assistance , the advantage resulting from interest-free or low interest rates as compared to a market interest rate is considered and accounted for as a government grant. A financial liability is recognized for proceeds received from the advance less the grant, and interest expense is subsequently recorded under the effective interest rate method using a market interest rate.

The grant portion of conditional advances is treated as a grant related to income.

For advances granted by BPI France, repayment is required in the event of commercial success. In addition, if the Group decides to stop the research program, the conditional advance may be required to be repaid. If a program is unsuccessful, a pre-determined amount may be repayable. If a program is unsuccessful, a predetermined amount may be repayable The remaining amount, if any, is then considered as a grant and written off in the line item "Other income" in the statements of operations.

4.19.2.

Research tax credit

The Research Tax Credit (" Crédit d'Impôt Recherche ", or "CIR") is granted to entities by the French tax authorities in order to encourage them to conduct technical and scientific research. Entities that demonstrate that their research expenditures meet the required CIR criteria receive a tax credit that may be used for the payment of their income tax due for the fiscal year in which the expenditures were incurred, as well as in the next three years. If taxes due are not sufficient to cover the full amount of tax credit at the end of the three-year period, the difference is paid in cash to the entity by the tax authorities. If a company meets certain criteria in terms of sales, headcount or assets to be considered a small/mid-size company, immediate payment of the Research Tax Credit can be requested. The Group meets such criteria.

The Group applies for CIR for research expenditures incurred in each fiscal year and recognizes the amount claimed in the line item "Other income" in the statements of operations in the same fiscal year. In the notes to the financial statements, the amount claimed is recognized under the heading "Research tax credit" (see Note 9, "Trade and other receivables" and Note 18, "Revenue and other income"). The CIR for fiscal years 2010, 2011, 2012 and 2014 was under audit by the tax authorities and a provision was made in the accounts. (see Note 24, "Litigation and contingent liabilities").

4.20.

Research and development expenses

Research expenses are recorded in the financial statements as expenses (see Note 19, "Operating expense").

In accordance with IAS 38, Intangible Assets , development expenses are recognized as intangible assets only if all the following criteria are met:

•

Technical feasibility necessary for the completion of the development project;

•

Intention on the Group's part to complete the project and to utilize it;

•

Capacity to utilize the intangible asset;

•

Proof of the probability of future economic benefits associated with the asset;

•

Availability of the technical, financial, and other resources for completing the project; and

•

Reliable evaluation of the expenses attributed to the intangible asset during its development.

4.21.

Classification of operating expenses

Research and development expenses include:

•

employee-related costs;

•

costs related to external employees seconded to the Company (such as clinical development, biometrics and IT…);

•

lab supplies and facility costs;

•

donations to The NASH Epidemiology Institute endowment fund, in particular to fund the creation of patient registry;

•

fees paid to scientific advisers and contracted research and development activities conducted by third parties;

•

intellectual property fees corresponding to the filing of the Group's patents and,

•

provision in relation to the Research Tax Credit dispute (see note 24 to our financial consolidated statements )

Contracted research and development activities conducted by third parties include services subcontracted to research partners for technical and/or regulatory reasons. In particular, this includes the production of active ingredients and therapeutic units, all or a part of clinical trials and pre-clinical trials that are necessary to the development of GENFIT's drug candidates and biomarker candidates.

General and administrative expenses include:

•

employee-related costs for executive, business development, intellectual property, finance, legal and human resources and communications functions;

•

facility-related costs;

•

marketing, legal, audit and accounting fees;

•

press relations and communications firm fees;

•

the cost of external employees seconded to the Company (such as security, reception, and accounting..);

•

other service costs (recruitment, etc.);

•

grants to the endowment fund, The NASH Epidemiology Institute^TM, earmarked in particular to finance the International NASH Day; and

•

intellectual property fees corresponding to the maintenance of the Group's patents.

Marketing and market access expenses include:

•

employee-related costs for marketing and business development, functions;

•

facility-related costs;

•

marketing, and market access firm fees;

•

the cost of external employees seconded to the Company (market access..) and

•

other service costs (recruitment, etc);

4.22.

Share-based compensation

The fair value of equity-settled share-based compensation granted to employees, officers, board members and consultants as determined on the grant date is recognized as a compensation expense with a corresponding increase in equity, over the vesting period. The amount recognized as an expense is adjusted to reflect the actual number of awards for which the related service and non-market performance conditions are expected to be met.

The fair values of equity-settled share-based compensation granted to employees are measured using the Black-Scholes model with respect to the share warrants (BSA) and redeemable share warrants (BSAAR) and using the Monte Carlo model for the stock options (SO) and free shares (AGA). Measurement inputs include share price on the measurement date, the exercise price of the instrument, expected volatility, expected maturity of the instruments, expected dividends, and the risk-free interest rate (based on government bonds). With respect to the redeemable share warrants, service and non-market performance conditions attached to the transactions are not taken into consideration in determining fair value but are taken into consideration related to recognition of expense. Regarding the stock options and free shares, market conditions are taken into account in the determination of the fair value of the plans award. For share-based compensation awards with non-vesting conditions, the grant date fair value of the share-based compensation is measured to reflect such conditions and there is no adjustment for differences between expected and actual outcomes.

GENFIT may also grant equity-settled share-based compensation in exchange for services to consultants who are not considered employees. In such cases, the value of the services is measured when they are rendered by the consultants and the share-based compensation exchanged for the services is measured at an equal amount. If the value of the services cannot be measured reliably, then such value is measured with reference to the fair value of the equity instruments granted.

Share-based compensation granted to consultants consists of share warrants, some of which may be redeemed at GENFIT's discretion.

Share-based compensation granted to employees consists of redeemable share warrants, stock options and free shares.

4.23.

Income tax

Income tax expense (or benefit) comprises current tax expense (or benefit) and deferred tax expense (or benefit), as applicable.

Deferred taxes are recognized for all the temporary differences arising from the difference between the tax basis and the accounting basis of assets and liabilities.

Deferred tax assets are recognized for unused tax losses, unused tax credits and temporary deductible differences to the extent that:

•

it is probable that future taxable profit will be available against which they can be used; or

•

if there are deferred tax liabilities for the same entity in the same tax jurisdiction on which they can be applied.

4.24.

Earnings (loss) per share

Basic earnings (loss) per share are calculated by dividing profit or loss attributable to the Company's ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.

Diluted earnings (loss) per share are calculated by adjusting profit attributable to ordinary shareholders and the average number of ordinary shares outstanding weighted for the effects of all potentially dilutive instruments (share warrants, redeemable share warrants, free shares, stock options and bonds convertible into new and/or existing shares).

4.25.

Operating segments

The Board of Directors and Chief Executive Officer are the chief operating decision makers.

The Board of Directors and the Chief Executive Officer oversee the operations and manage the business as one segment with a single activity; namely, the research and development of innovative medicines, the marketing of which depends on the success of the clinical development phase.

Financial Risks Management

12 Months Ended

Dec. 31, 2019

Foreign Exchange Rates [Abstract]

Financial Risks Management

5.	FINANCIAL RISKS MANAGEMENT

The Group may be exposed to the following risks arising from financial instruments: foreign exchange risk, interest rate risk, liquidity risk and credit risk.

5.1.	Foreign exchange risk

The nature and exposure of the Group to currency risk has evolved due to a growing portion of its operations being denominated in US dollars, and because the Group decided not to convert into euros the US dollar denominated cash it raised in March 2019 IPO. The Company expects to use cash held in US dollars to meet expenses denominated in this currency over the next few years.

In the future, and in particular with respect to its clinical trials and pre-marketing activities, the Group will manage an increasing number of transactions denominated in foreign currencies or indirectly exposed to currency risk.

The increase in the overall exposure of the Company to this risk will depend, in particular, on:

•

the currencies in which the Group receives its revenues;

•

the currencies chosen when agreements are entered into, such as licensing agreements, or co-marketing or co-development agreements;

•

the location of clinical trials on drug or biomarker candidates;

•

the ability, for its co-contracting parties to indirectly transfer foreign exchange risk to the Company; and

•

the Group’s foreign exchange risk policy.

During the 2017 fiscal year, the Group used specific hedging arrangements (e.g., purchase of U.S. dollars and of UCITS in U.S. dollars, as well as currency forwards in U.S. dollars). In 2018, the Group considered the implementation of appropriate certain hedging arrangements without ultimately using any such arrangements. During 2019, the Company did not use any specific hedging arrangements in light of the Company’s decision to leave a significant part of its cash and cash equivalents in US dollars.

5.	FINANCIAL RISKS MANAGEMENT (Continued)

The following table shows the sensitivity of the Group's cash and cash equivalent and expenses in U.S. dollars to a variation of 10% of the U.S. dollar against the euro in 2017, 2018 and 2019:

Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10% of the US dollar against the euro	As of
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
Cash and cash equivalents denominated in US dollars		3,611		1,188		153,438
Equivalent in euros, on the basis of the exchange rate described below		3,011		1,038		136,582
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		3,345		1,153		151,758
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		2,737		944		124,166

Sensitivity of the Group's expenses to a variation of +/- 10% of the US dollar against the euro	Year ended
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
Expenses denominated in US dollars		5,993		9,613		40,355
Equivalent in euros, on the basis of the exchange rate described below		4,997		8,396		35,922
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		5,552		9,328		39,914
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		4,543		7,632		32,657

2019/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.1234 US dollar ratio
2018/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.145 US dollar ratio
2017/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.1993 US dollar ratio

Cash, cash equivalents and financial assets	As of
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
At origin, denominated in EUR
Cash and cash equivalents		270,210		206,199		139,863
Current and non current financial assets		729		1,303		1,614
Total		270,939		207,502		141,477
At origin, denominated in USD
Cash and cash equivalents		3,611		1,041		136,884
Current and non current financial assets		31		10		113
Total		3,642		1,051		136,997
Total, in EUR
Cash and cash equivalents		273,820		207,240		276,748
Current and non current financial assets		760		1,313		1,727
Total		274,581		208,553		278,474

5.	FINANCIAL RISKS MANAGEMENT (Continued)

5.2.	Interest rate risk

As of December 31, 2019, the Group was only liable for governmental advances or conditional advances with no interest or interest at a fixed rate, generally below market rate, and for fixed-rate bank loans (the only variable-rate loan was repaid in 2017).

As of December 31, 2017, 2018, and 2019 the Group's financial liabilities totaled €164,680, €169,593 (net of the equity component of the convertible loan and debt issue costs), and €183,617 respectively. Current borrowings are at a fixed rate. The Group's exposure to interest rate risk through its financial assets is also insignificant due to low market rates and since these assets are mainly euro-denominated Undertakings for the Collective Investment of Transferable Securities (UCITs), medium-term negotiable notes or term deposits with progressive rates denominated in euros or US dollars..

5.3.	Liquidity risk

The Group's loans and borrowings mainly consist of bonds convertible or exchangeable into new or existing shares (OCEANE), government advances for research projects and bank loans. For conditional advances, reimbursement of the principal is subject to the commercial success of the related research project.

The Company has conducted a specific review of its liquidity risk and considers that it is able to meet its future maturities. On December 31, 2017, 2018 and 2019, the Group had €274,581, €208,553, and €278,474 respectively, in cash and cash equivalents and other financial assets. The Company does not believe it is exposed to short-term liquidity risk. The Company believes that the Group's cash and cash equivalents and current financial instruments are sufficient to ensure its financing, in light of its current projects and obligations, for at least the next twelve months.

If the Group's funds are insufficient to cover any additional financing needs, the Group would require additional financing. The conditions and arrangements for any such new financing would depend, among other factors, on economic and market conditions that are beyond the Group's control.

5.4.	Credit risk

Credit risk is the risk of financial loss if a customer or counterparty to a financial asset defaults on their contractual commitments. The Group is exposed to credit risk due to trade receivables and other financial assets.

The Group's policy is to manage this risk by transacting with third parties with good credit standards.

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2019

Cash And Cash Equivalents [Abstract]

Cash and Cash Equivalents

6.	CASH AND CASH EQUIVALENTS

The main components of cash equivalents were:

•

UCITS and interest-bearing current accounts, available immediately;

•

Term accounts, available within the contractual maturities or by the way of early exit; and

•

Negotiable medium-term notes, available with a quarterly maturity or by the way of early exit.

These investments, summarized in the tables below, are short-term, highly liquid and subject to insignificant risk of changes in value.

Cash and cash equivalents	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Short-term deposits		244,279		201,522		263,147
Cash on hand and bank accounts		29,541		5,718		13,601
TOTAL		273,820		207,240		276,748

Short-term deposits	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
UCITS		38,052		29,189		3,096
TERM ACCOUNTS		138,967		124,316		215,018
NEGOTIABLE MEDIUM-TERM NOTES		4,150		—		—
INTEREST-BEARING CURRENT ACCOUNT		63,110		48,017		45,033
TOTAL		244,279		201,522		263,147

Intangible Assets

12 Months Ended

Dec. 31, 2019

Disclosure Of Intangible Assets [Abstract]

Intangible Assets

7.	INTANGIBLE ASSETS

Intangible assets consist mainly of office and administrative software as well as scientific software purchased by the Group.

The following tables show the variations in intangible assets for the years ended December 31, 2017, 2018 and 2019:

	As of									As of
Intangible assets—Variations	January 1,									December 31,
(in thousands of euros)	2017			Increase			Decrease			2017
Gross
Software		1,688			268			(56	)		1,900
Patents		21			—			—			21
TOTAL – Gross		1,709			268			(56	)		1,921
Accumulated depreciation and impairment
Software		(1,020	)		(298	)		54			(1,264	)
Patents		(21	)		—			—			(21	)
TOTAL - Accumulated depreciation and impairment		(1,042	)		(298	)		54			(1,285	)
TOTAL – Net		668			(29	)		(2	)		636

	As of									As of
Intangible assets—Variations	January 1,									December 31,
(in thousands of euros)	2018			Increase			Decrease			2018
Gross
Software		1,900			216			(67	)		2,049
Patents		21			—			—			21
Other intangibles		—			313			—			313
TOTAL—Gross		1,921			529			(67	)		2,384
Accumulated depreciation and impairment
Software		(1,264	)		(370	)		67			(1,567	)
Patents		(21	)		—			—			(21	)
Other intangibles		—			—			—			—
TOTAL - Accumulated depreciation and impairment		(1,285	)		(370	)		67			(1,588	)
TOTAL – Net		636			159			—			796

7.	INTANGIBLE ASSETS (continued)

Intangible assets – Variations	As of									Translation					As of
(in € thousands)	2018/12/31			Increase			Decrease			adjustments		Reclassification			2019/12/31
Gross
Software		2,049			340			(29	)		—		378			2,739
Patents		21			70			—			—		—			91
Other intangibles		313			65			—			—		(378	)		—
TOTAL – Gross		2,384			475			(29	)		—		—			2,830
Accumulated depreciation and impairment
Software		(1,567	)		(350	)		29			—		—			(1,888	)
Patents		(21	)		—			—			—		—			(21	)
Other intangibles		—			—			—			—		—			—
TOTAL - Accumulated depreciation and impairment		(1,588	)		(350	)		29			—		—			(1,910	)
TOTAL – Net		796			125			—			—		—			920

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Disclosure Of Property Plant And Equipment [Abstract]

Trade And Other Receivables [Abstract]

8.	PROPERTY, PLANT AND EQUIPMENT

The following tables show the variations in tangible assets for the years ended December 31, 2017,2018 and 2019:

Property, plant & equipment—Variations (in thousands of euros)	As of January 1, 2017			Increase			Decrease			Reclassification			As of December 31, 2017
Gross
Buildings on non-freehold land		—			11			—			—			11
Scientific equipment		6,078			3,546			(49	)		—			9,576
Fittings		988			138			—			—			1,126
Vehicles		82			61			(44	)		—			99
Computer equipment		1,475			211			(12	)		281			1,954
Furniture		317			40			—			—			357
In progress		—			281						(281	)		—
TOTAL - Gross		8,940			4,287			(105	)		—			13,123
Accumulated depreciation and impairment
Scientific equipment		(4,438	)		(673	)		48			—			(5,063	)
Fittings		(657	)		(65	)		—			—			(722	)
Vehicles		(29	)		(17	)		22			—			(24	)
Computer equipment		(530	)		(184	)		11			—			(703	)
Furniture		(276	)		(9	)		—			—			(285	)
In progress		—			—			—			—			—
TOTAL - Depreciation and impairment		(5,930	)		(949	)		81			—			(6,798	)
TOTAL - Net		3,010			3,338			(24	)		—			6,324

8.	PROPERTY, PLANT AND EQUIPMENT (continued)

Property, plant and equipment—Variations (in thousands of euros)	As of January 1, 2018			Increase			Decrease			Reclassification			As of December 31, 2018
Gross
Buildings on non-freehold land		11			—			—			1,447			1,458
Scientific equipment		9,576			1,484			(235	)		54			10,879
Fittings		1,126			443			(43	)		5			1,531
Vehicles		99			—			—			—			99
Computer equipment		1,954			200			(5	)		(702	)		1,446
Furniture		357			8			(4	)		—			361
In progress		—			805			—			(804	)		—
TOTAL - Gross		13,123			2,939			(288	)		—			15,774
Accumulated depreciation and impairment
Buildings on non-freehold land		—			(1	)		—			—			(1	)
Scientific equipment		(5,063	)		(1,142	)		218			—			(5,988	)
Fittings		(722	)		(91	)		43			—			(769	)
Vehicles		(24	)		(21	)		0			—			(45	)
Computer equipment		(703	)		(216	)		4			—			(915	)
Furniture		(285	)		(11	)		4			—			(292	)
In progress		—			—			—			—			—
TOTAL - Depreciation and impairment		(6,798	)		(1,481	)	270				—			(8,010	)
TOTAL - Net		6,324			1,459			(18	)		—			7,764

8.	PROPERTY, PLANT AND EQUIPMENT (continued)

Property, plant and equipment - Variations	As of									Translation					As of
(in € thousands)	2018/12/31			Increase			Decrease			adjustments		Reclassification			2019/12/31
Gross
Buildings on non-freehold land		1,458			12,218			—			—		(1,447	)		12,229
Scientific equipment		10,879			556			(120	)		—		(54	)		11,260
Fittings		1,531			66			—			—		(5	)		1,592
Vehicles		99			—			—			—		—			99
Computer equipment		1,446			227			(15	)		—		11			1,669
Furniture		361			31			(3	)		—		—			389
In progress		0			241			(1,737	)		—		1,496			—
TOTAL - Gross		15,774			13,339			(1,875	)		—		—			27,238
Accumulated depreciation and impairment
Buildings on non-freehold land		(1	)		(1,215	)		—			—		—			(1,216	)
Scientific equipment		(5,988	)		(1,303	)		119			—		—			(7,172	)
Fittings		(769	)		(105	)		—			—		—			(875	)
Vehicles		(45	)		(21	)		—			—		—			(66	)
Computer equipment		(915	)		(252	)		12			—		—			(1,155	)
Furniture		(292	)		(13	)		3			—		—			(303	)
In progress		—			—			—			—		—			—
TOTAL - Depreciation and impairment		(8,010	)		(2,909	)		133			—		—			(10,785	)
TOTAL - Net		7,764			10,429			(1,741	)		—		—			16,453

Assets related to contracts that were classified as finance leases under IAS 17 are scientific equipment. As mentioned above, these contracts are accounted for in the same manner under IFRS 16. Their net carrying value as of December 31, 2017, 2018 and 2019 amounted to €1,895, €1,889, and €1,413 respectively.

In May 2018, Genfit signed an agreement with the lessor of its corporate headquarters to extend in 2019 the current lease, that was set to expire in 2022, for another ten years and to lease for ten years a new building to be built on the same premises. The new lease agreement is non-cancellable for a nine year period beginning in 2019.

Pursuant to the agreement, Genfit acted as agent of the lessor for the construction of the new building and is responsible for the cost of its construction. The agreement provides that the lessor must reimburse Genfit for costs of construction up to €2.5 million. All costs incurred above €2.5 million will be assumed by Genfit.

As of December 31, 2018, the costs incurred to date by Genfit for the construction were €1.4 million and classified as property, plant and equipment in progress. In 2019, Genfit incurred additional costs of €1.3 million. The extension of the corporate headquarters was delivered on April 30, 2019 and the lessor reimbursed Genfit for €2.5 million for the construction costs incurred. The resulting difference of €0.3 million euros is classified as leasehold improvements and will be amortized over 10 years.

On January 1, 2019, upon adoption of IFRS 16, the right of use asset and lease liability related to the existing headquarters were recognized for an amount of €7.8 million.

In May 2019, the right of use asset and lease liability related to the new building were recognized for an amount of €2.2 million.

8.	PROPERTY, PLANT AND EQUIPMENT (continued)

GENFIT CORP signed a new lease agreement, starting from July 1, 2019, in order to accompany the growth of its activities and workforce.

In accordance with IFRS 16, the Group has chosen not to present the “right of use” separately from other assets and added them to assets of the same type as the underlying leased assets.

The right of use asset and depreciation as of December 31, 2019 in the table above are related to :

•

The line item “Building on non freehold land”, of € 11,974 and € 1,196, respectively;

•

The line item "Scientific equipment", at € 4,346 and € 2,933, respectively.

Trade and Other Receivables

12 Months Ended

Dec. 31, 2019

Trade and Other Receivables

9.	TRADE AND OTHER RECEIVABLES

Trade and other receivables consisted of the following:

Trade and other receivables - Total	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		61		25			207
Research tax credit		8,466		8,785			9,585
Social security costs receivables		3		10			5
VAT receivables		994		1,103			1,814
Grants receivables		13		(0	)		3
Other receivables		340		361			420
TOTAL		9,876		10,284			12,033

Trade and other receivables - Current	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		61		25			207
Research tax credit		6,545		7,295			9,585
Social security costs receivables		3		10			5
VAT receivables		994		1,103			1,814
Grants receivables		13		(1	)		3
Other receivables		340		361			420
TOTAL		7,955		8,794			12,033

Trade and other receivables - Non-current	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		—		—			—
Research tax credit		1,921		1,489			—
Social security costs receivables		—		—			—
VAT receivables		—		—			—
Grants receivables		—		—			—
Other receivables		—		—			—
TOTAL		1,921		1,489			—

Research tax credit

The research tax credit due for 2018 was received on November 18, 2019.

The research tax credit receivable of €9,585 as of December 31, 2019 includes:

•

a partial payment of the assessment (€333 ) due to an ongoing tax audit

•

the balance of the amount due for the 2014 fiscal year (€1,140 )

•

the balance of the amount due for the 2016 fiscal year (€447), the two amounts are used as partial compensation with the assessment notices and the tax notice related to the 2014 CIR, as described in Note 24, "Litigation and contingent liabilities";

•

the amount received following the favorable decision of the Montreuil court (€432) and (€29) having been deducted and

•

in addition to the amount related to the dispute with the French tax authorities discussed in note 24 “Litigation and contingent liabilities” should be added to the amount of the 2019 research tax credit of €8.125 million.

A provision of €1,892 was recognized at the closing, including an allocation of €1,785 during the first half of 2019 and appears as a liability in the consolidated statement of financial position in relation to the Research Tax Credit dispute (see note 19 herein).

Other receivables

•

The line item “other receivables” primarily consists of credit notes from suppliers for €408, €235 and €174 respectively as of December 31, 2019, as of December 31,2018 and as of December 31,2017.

Other Financial Assets

12 Months Ended

Dec. 31, 2019

Disclosure Of Other Financial Assets [Abstract]

Other Financial Assets

10.	OTHER FINANCIAL ASSETS

Other financial assets consisted of the following:

Financial assets - Total	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		219			259		307
Loan related security deposit		—			—		—
Deposits and guarantees		274			284		396
Liquidity contract		267			770		1,023
TOTAL		760			1,313		1,727

Financial assets - Current	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		—			—		—
Loan related security deposit		0			—		—
Deposits and guarantees		31			—		—
Liquidity contract		—			—		—
TOTAL		31			—		—

Financial assets - Non current	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		219			259		307
Loan related security deposit		(0	)		—		(0	)
Deposits and guarantees		243			284		396
Liquidity contract		267			770		1,023
TOTAL		729			1,313		1,727

The liquidity contract consists of a share buyback program contracted to an investment service provider in order to facilitate the listing of the Group's shares.

As of December 31, 2019, the liquidity account had a cash balance of €1,023.

As of December 31, 2018, the liquidity account had a cash balance of €770

As of December 31, 2019, CMC-CIC Market Solutions holds on behalf of Genfit 18,132 shares, recorded as a deduction from equity.

As of December 31, 2018, CMC-CIC Market Solutions holds on behalf of Genfit 27,911 shares, recorded as a deduction from equity. During the period, Genfit made an additional contribution of €1.0 million to the liquidity agreement with CMC-CIC Market Solution.

Other Assets

12 Months Ended

Dec. 31, 2019

Miscellaneous Assets [Abstract]

Other Assets

11.	OTHER ASSETS

Other assets of €1,761, €2,078 and €1,968 at December 31, 2017, 2018 and 2019, respectively, consisted of prepaid expenses related to current operating expenses.

Loans and Borrowings

12 Months Ended

Dec. 31, 2019

Borrowing Costs [Abstract]

Loans and Borrowings

12.	LOANS AND BORROWINGS

12.1.

Breakdown of convertible loan

On October 16, 2017, the Company issued 6,081,081 OCEANEs at par with a nominal unit value of €29.60 per bond for an aggregate nominal amount of €180 million. The exchange or conversion premium is 30% of the reference share price of €22.77. Annual nominal interest rate is a fixed 3.5% payable semi-annually in arrears. The effective interest rate is 7.2%. The OCEANEs are due October 16, 2022. Redemption prior to maturity is at the option of the Company from November 6, 2020 if the arithmetic volume-weighted average price of the Company's share price and the then-prevailing conversion ratio (over a 20-day trading period) exceeds 150% of the nominal value of the OCEANEs.

As of December 31, 2017, 2018 and 2019, the Group recorded a liability of €155,868, €160,489 and €165,454 respectively, related to the OCEANEs net of the equity portion and debt issue costs. Of this amount, €1,329, €1,312 and €1,312 respectively, was classified as current and €154,539, €159,176 and €164,142 respectively, was classified as non-current.

The conversion of all of the convertible bonds would result in a dilution of 15.6% (expressed as a percentage of share capital at December 31, 2019).

12.	LOANS AND BORROWINGS (continued)

12.2.

Breakdown of other loans and borrowings

Other loans and borrowings consisted of the following:

Other loans and borrowings - Total	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		3,407		3,229		3,229
Bank loans		3,488		3,964		2,645
Development loans with participation feature				—		—
Renewable credit facility		—		—		—
Obligations under leases		1,890		1,900		12,281
Accrued interests		3		3		1
Other financial loans and borrowings		24		7		7
Bank overdrafts		—		—		—
TOTAL		8,812		9,104		18,165

Other loans and borrowings - Current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		178		—		—
Bank loans		1,209		1,319		1,105
Development loans with participation feature		—		—		—
Renewable credit facility		—		—		—
Obligations under leases		420		520		2,112
Accrued interests		3		3		1
Other financial loans and borrowings		24		7		7
Bank overdrafts		—		—		—
TOTAL		1,834		1,848		3,226

Other loans and borrowings - Non current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		3,229		3,229		3,229
Bank loans		2,279		2,645		1,540
Development loans with participation feature		—		—		—
Renewable credit facility		—		—		—
Obligations under leases		1,469		1,381		10,169
Accrued interests		—		—		—
Other financial loans and borrowings		—		—		—
Bank overdrafts		—		—		—
TOTAL		6,978		7,255		14,939

12.	LOANS AND BORROWINGS (continued)

The line item “obligations and leases” is impacted by the adoption of IFRS 16. See Note 4.7 “Leases”.

12.2.1.

Refundable and conditional advances

General overview

From 2006 to 2010, the Company received conditional advances from BPI France. Advances are subject to no or low interest rates and are intended to finance research programs described in Note 3.19.1, "Government grants". The following table summarizes advances outstanding at December 31, 2019, 2018 and 2017

Total

Net book

Refundable and conditional advances - general overview

Grant

amount

Effects of

value

(in € thousands)

date

allocated

Receipts

Repayments

discounting

12/31/2019

BPI FRANCE - IT-DIAB

12/23/2008

3,229

—

3,229

Development of a global strategy for the prevention and management of type 2 diabetes

TOTAL

3,229

Net book

Total

value as of

Refundable and conditional advances—general overview

amount

Effects of

December 31,

(in thousands of euros)

Grant date

allocated

Receipts

Repayments

discounting

2018

BPI FRANCE—IT-DIAB

12/23/2008

3,229

—

3,229

Development of a global strategy for the prevention and management of type 2 diabetes

TOTAL

3,229

12.	LOANS AND BORROWINGS (continued)

												Net book
Refundable and conditional		Total										value as of
advances—general overview		amount							Effects of			December 31,
(in € thousands)	Grant date	allocated		Receipts		Repayments			discounting			2017
BPI FRANCE—IT-DIAB	12/23/2008		3,229		3,229	—			—				3,229
Development of a global strategy for the prevention and management of type 2 diabetes
BPI FRANCE—ADVANCE N°1—OLNORME II—1	11/24/2010	250		200			(134	)		(2	)	64
BPI FRANCE—ADVANCE N°2—OLNORME II—2	11/24/2010	250		200			(134	)		(2	)	64
BPI FRANCE—ADVANCE N°3—OLNORME II—3	11/24/2010	200		160			(108	)		(2	)	51
Research of pharmaceutical entities in plant extracts for the treatment of inflammatory diseases
TOTAL													3,407

Receipts and repayments of refundable and conditional advances

During the years ended December 31, 2017 and 2018, the Group repaid €166 and €183, respectively, of refundable and conditional advances.

12.	LOANS AND BORROWINGS (continued)

Main terms of the contracts

BPI FRANCE IT-DIAB		On December 23, 2008, the Group received an advance from BPI France (the BPI France IT-DIAB) as part of a framework innovation aid agreement involving several scientific partners and for which the Group was the lead partner. The contribution expected at each stage by each of the partners in respect of work carried out and results achieved is defined in the framework agreement. With respect to the Group, the aid consisted of a €3,229 conditional advance and a €3,947 non-repayable government grant.

		The conditional advance is not refundable except in the event of success. The program ended on December 31, 2014. In the event of success, defined as the commercial spin-offs of the IT-Diab program which involves products for the treatment or diagnosis of type 2 diabetes, in that case, the financial returns generated will be used initially to repay the €3,229 conditional advance and the agreement stipulates that the conditional advance will be regarded as repaid in full when the total payments made in this regards by the recipient, discounted at the rate of 5.19%, equal the total amount, discounted at the same rate, of the aid paid. Any further amounts will be classified as additional payments, up to a maximum amount of €14,800.

BPI FRANCE ADVANCE N°1— OLNORME II—1		These non-interest bearing advances are repayable in full (at 100% of their nominal amount) in the event of technical and/or commercial success.

		The balance of these advances (in an amount of €66) were reimbursed during 2018.

BPI FRANCE ADVANCE N°2— OLNORME II—2		These non-interest bearing advances are repayable in full (at 100% of their nominal amount) in the event of technical and/or commercial success.

		The balance of these advances (in an amount of €66) were reimbursed during 2018.

BPI FRANCE ADVANCE N°3— OLNORME II—3		These non-interest bearing advances are repayable in full (at 100% of their nominal amount) in the event of technical and/or commercial success.

		The balance of these advances (in an amount of €52) were reimbursed during 2018.

12.	LOANS AND BORROWINGS (continued)

12.2.2.

Bank loans

Bank loans are primarily used to finance research and laboratory equipment. Bank loans consisted of the following as of December 31, 2017:

							Available			Outstanding
							as of			as of
Bank loans	Loan	Facility		Interest			December 31,			December 31,
(in € thousands)	date	size		rate			2017		Installments	2017
CIC 5	July 2017		1,000		0.69	%		500	60 monthly		451
CDN 4	June 2017	600			0.36	%	—		48 monthly	525
BNP 4	April 2017	800			0.87	%	800		60 monthly	—
CIC 4	December 2016	264.6			0.69	%	—		60 monthly	217
BNP 3	October 2016		1,050		0.80	%	—		20 quarterly	945
NEUFLIZE 2	June 2016	500			1.10	%	—		12 quarterly	252
BNP 2	June 2016	500			0.80	%	—		20 quarterly	377
CDN 3	April 2016	500			0.72	%	—		60 monthly	335
CIC 3	March 2015	500			0.85	%	—		16 quarterly	158
BNP	December 2014	500			2.00	%	—		20 quarterly	205
Other										23
TOTAL											3,488

Bank loans consisted of the following as of December 31, 2018:

							Available			Outstanding
Bank loans	Loan	Facility		Interest			As of			As of
(in € thousands)	date	size		rate			2018/12/31		Installments	2018/12/31
CDN 5	November 2018		500		0.46	%		—	48 monthly		490
CIC 5	July 2017	1000			0.69	%	0		60 monthly		753
CDN 4	June 2017	600			0.36	%	0		48 monthly		376
BNP 4	April 2017	800			0.87	%	0		60 monthly		695
CIC 4	December 2016		265		0.69	%		—	60 monthly		164
BNP 3	October 2016	1050			0.80	%	0		20 quarterly		735
NEUFLIZE 2	June 2016	500			1.10	%	0		12 quarterly		84
BNP 2	June 2016	500			0.80	%	0		20 quarterly		277
CDN 3	April 2016		500		0.72	%		—	60 monthly		236
CIC 3	March 2015	500			0.85	%	0		16 quarterly		32
BNP	December 2014	500			2.00	%	0		20 quarterly		103
Other											19
TOTAL											3,964

12.	LOANS AND BORROWINGS (continued)

Bank loans consisted of the following as of December 31, 2019:

							Available			Outstanding
Bank loans	Loan	Facility		Interest			As of			As of
(in € thousands)	date	size		rate			2019/12/31		Installments	2019/12/31
CDN 5	November 2018		500		0.46	%		—	48 monthly		365
CIC 5	July 2017	1000			0.69	%	0		60 monthly		554
CDN 4	June 2017	600			0.36	%	0		48 monthly		226
BNP 4	April 2017	800			0.87	%	0		60 monthly		537
CIC 4	December 2016		265		0.69	%		—	60 monthly		111
BNP 3	October 2016	1050			0.80	%	0		20 quarterly		525
NEUFLIZE 2	June 2016	500			1.10	%	0		12 quarterly		0
BNP 2	June 2016	500			0.80	%	0		20 quarterly		177
CDN 3	April 2016		500		0.72	%		—	60 monthly		135
CIC 3	March 2015	500			0.85	%	0		16 quarterly		0
BNP	December 2014	500			2.00	%	0		20 quarterly		0
Other											14
TOTAL											2,645

12.3.

Development agreements with participation feature

In June 2010, BPI France granted the Company a development agreement with participation feature amounting to €2.3 million over a 7-year period with a fixed interest rate of 4.46%. No repayment of principal was scheduled during the first two years.

The loan agreement has a provision applicable during the reimbursement period which provides for additional remuneration to BPI France depending on whether the Company had industrial income. This additional remuneration amounts to 0.2294% of sales. However, this loan was repaid in its entirety in June 2017.

12.	LOANS AND BORROWINGS (continued)

12.4.

Maturities of financial liabilities

Maturity of financial liabilities	As of		Less than		Less than		Less than		Less than		Less than		More than
(in € thousands)	2019/12/31		1 year		2 years		3 years		4 years		5 years		5 years
BPI FRANCE - IT-DIAB		3,229		—		—		—		—		—		3,229
TOTAL - Refundable and conditional advances		3,229		—		—		—		—		—		3,229
Convertible loans		165,454		1,312		—		164,142		—		—		—
Bank loans		2,645		1,105		942		544		54		—		—
Development loans with participation feature		—		—		—		—		—		—		—
Renewable credit facility		—		—		—		—		—		—		—
Leases		12,281		2,112		2,118		1,575		1,151		1,103		4,223
Accrued interests		1		1		—		—		—		—		—
Other financial loans and borrowings		7		7		—		—		—		—		—
Bank overdrafts		—		—		—		—		—		—		—
TOTAL - Other loans and borrowings		180,390		4,539		3,060		166,260		1,205		1,103		4,223
TOTAL		183,619		4,539		3,060		166,260		1,205		1,103		7,452

The convertible bond results in the payment of yearly interest of €6,300 and a reimbursement at par in October 2022. The nominal amount of the convertible loan of €180 million is due in less than 3 years.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2019

Disclosure Of Financial Instruments [Abstract]

Fair Value of Financial Instruments

13.	FAIR VALUE OF FINANCIAL INSTRUMENTS

The following tables provide the financial assets and liabilities carrying values by category and fair values as of December 31, 2017, 2018 and 2019:

	As of December 31, 2017
	Carrying value							Fair value
(in thousands of euros)	As per statement of financial position		Assets at fair value through profit & loss		Loans & receivables	Debt at amortized cost		Level 1		Level 2		Level 3
Assets
Loans	219		—		219	—		—		219		—
Deposits and guarantees	274		—		274	—		—		274		—
Trade receivables	61		—		61	—		—		61		—
Cash and cash equivalents		273,820		273,820	—	—			273,820	—		—
TOTAL—Assets		274,375		273,820	555	—			273,820	555		—
Liabilities
Conditional advances		3,407	—		—		3,407	—		—			3,407
Convertible loans		155,868	—		—		155,868	—			155,868	—
Bank loans		3,488	—		—		3,488	—			3,488	—
Obligations under finance leases		1,890	—		—		1,890	—			1,890	—
Accrued interests	3		—		—	3		—		3		—
Other financial loans and borrowings	24		—		—	24		—		24		—
Trade payables		19,053	—		—		19,053	—			19,053	—
Other payables	34		—		—	34		—		34		—
TOTAL—Liabilities		183,766	—		—		183,766	—			180,359		3,407

13.	FAIR VALUE OF FINANCIAL INSTRUMENTS (continued)

	As of December 31, 2018
	Carrying value								Fair value
	As per		Assets at
	statement of		fair value
	financial		through		Loans and		Debt at
(in € thousands)	position		profit and loss		receivables		amortized cost		Level 1		Level 2		Level 3
Assets
Financial investments		—		—						—
Loans		259				259						259
Loan related security deposit		—				—						—
Deposits and guarantees		284				284						284
Trade receivables		25				25						25
Cash and cash equivalents		207,240		207,240						207,240
TOTAL - Assets		207,808		207,240		568		—		207,240		568		—
Liabilities		—
Conditional advances		3,229						3,229						3,229
Convertible loans		160,489						160,489				160,489
Bank loans		3,964						3,964				3,964
Participating development loan		—						—				—
Renewable credit facility		—						—				—
Obligations under finance leases		1,900						1,900				1,900
Accrued interests		3						3				3
Other financial loans and borrowings		7						7				7
Bank overdrafts		—						—				—
Trade payables		32,649						32,649				32,649
Other payables		71						71				71
TOTAL - Liabilities		202,313		—		—		202,313		—		199,084		3,229

13.	FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

	As of December 31, 2019
	Carrying value								Fair value
	As per		Assets at
	statement of		fair value
	financial		through		Loans and		Debt at
(in € thousands)	position		profit and loss		receivables		amortized cost		Level 1		Level 2		Level 3
Assets
Financial investments		—		—						—
Loans		307				307						307
Loan related security deposit		—				—						—
Deposits and guarantees		396				396						396
Trade receivables		207				207						207
Cash and cash equivalents		276,748		276,748						276,748
TOTAL - Assets		277,658		276,748		911		—		276,748		911		—
Liabilities		—
Conditional advances		3,229						3,229						3,229
Convertible loans		165,454						165,454				165,454
Bank loans		2,645						2,645				2,645
Participating development loan		—						—				—
Renewable credit facility		—						—				—
Obligations under finance leases		12,281						12,281				12,281
Accrued interests		1						1				1
Other financial loans and borrowings		7						7				7
Bank overdrafts		—						—				—
Trade payables		32,753						32,753				32,753
Other payables		527						527				527
TOTAL - Liabilities		216,898		—		—		216,898		—		213,669		3,229

Trade and Other Payables

12 Months Ended

Dec. 31, 2019

Disclosure Of Trade And Other Payables [Abstract]

Trade and Other Payables

14.	TRADE AND OTHER PAYABLES

Trade and other payables consisted of the following:

Trade and other payables - Total	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		19,053		32,649		32,753
Social security costs payables		4,217		2,949		3,581
Employee profit sharing		17		17		17
VAT payables		19		1		2
Taxes payables		241		286		487
Other payables		34		71		527
TOTAL		23,580		35,974		37,368

Trade and other payables - Current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		19,053		32,649		32,753
Social security costs payables		4,217		2,949		3,581
Employee profit sharing		17		17		17
VAT payables		19		1		2
Taxes payables		241		286		487
Other payables		34		71		76
TOTAL		23,580		35,974		36,917

Trade and other payables - Non current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		—		—		—
Social security costs payables		—		—		—
Employee profit sharing		—		—		—
VAT payables		—		—		—
Taxes payables		—		—		—
Other payables		—		−−		450
TOTAL		—				450

Provisions

12 Months Ended

Dec. 31, 2019

Provisions [Abstract]

Provisions

15.	PROVISIONS

At December 31, 2017, 2018 and 2019, this line item amounted to €361, €112, and €2,061 respectively.

The accruals recorded are mainly related to the research tax credit. See Note 24, "Litigation and contingent liabilities".

Employee Benefits

12 Months Ended

Dec. 31, 2019

Disclosure Of Information About Defined Benefit Plans [Abstract]

Employee Benefits

16.	EMPLOYEE BENEFITS

In France, pension funds are generally financed by employer and employee contributions and are accounted for as a defined contribution plan with the employer contributions recognized as expense as incurred. The Group has no actuarial liabilities in connection with these plans. Expenses recorded for the years ended December 31, 2017, 2018 and 2019 amounted to €543, €765, and €927 respectively.

French law also requires payment of a lump sum retirement indemnity to employees based on years of service and annual compensation at retirement, which are accounted for as a defined benefit plan. Benefits do not vest prior to retirement. The liability is calculated as the present value of estimated future benefits to be paid, applying the projected unit credit method whereby each period of service is seen as giving rise to an additional unit of benefit entitlement, each unit being measured separately to build up the final. At December 31, 2017, 2018 and 2019 pension provisions recorded were €936, €1,085 and €1,408, respectively.

As part of the measurement of the retirement indemnity to employees, the following assumptions were used for all categories of employees:

Population	Permanent staff
Retirement age		65
Terms of retirement	Initiated by the employee
Life expectancy	On the basis of the INSEE table
Probability of continued presence in the company at retirement age	On the basis of the DARES table

(1)	INSEE is the French National Institute of Statistics; DARES is the French Bureau of Studies and Statistics

Rate	As of
(in € thousands)	2017/12/31	2018/12/31			2019/12/31
Salary growth rate - in 2020	5.8%		5.80	%		5.80	%
Salary growth rate - beyond	3.0%		3.00	%		3.00	%
Discount rate	1.5%		1.53	%		0.75	%

The discount rates are based on the market yield at December 31, 2017, 2018 and 2019 on high quality corporate bonds.

The following table presents the changes in the present value of the defined benefit obligation:

Changes in the present value of the defined benefit obligation
(in € thousands)
Defined benefit obligation as of January 1, 2017	849
Current service cost	76
Interest cost on benefit obligation	13
Actuarial losses on obligation	210
Past service costs	(211	)
Defined benefit obligation as of December 31, 2017	936
Current service cost	104
Interest cost on benefit obligation	14
Actuarial losses on obligation	31
Past service costs	—
Defined benefit obligation as of December 31, 2018	1,085
Current service cost	138
Interest cost on benefit obligation	17
Actuarial losses / (gains) on obligation	168
Past service costs	—
Defined benefit obligation as of December 31, 2019	1,408

The actuarial differences are mainly explained by the changes in personnel observed against the hypothesis used in the actuarial calculation.

Sensitivity of the Group’s retirement and post-employment benefits to a variation of the discount rate :

	Retirement and post-employment benefits
in thousands of euros	Changes in assumptions/discount rate	Impact/present value of the undertaking
	+0.25%	-51
	-0.25%	53

Equity

12 Months Ended

Dec. 31, 2019

Disclosure Of Classes Of Share Capital [Abstract]

Equity

17.

EQUITY

Ordinary shares are classified under shareholders' equity. Any shareholder, regardless of nationality, whose shares are fully paid-in and registered for at least two years, is entitled to double voting rights under the conditions prescribed by law (Article 32 of the Company's bylaws)

At December 31, 2019, 2,311,439 shares have been held for more than two years and entitle their holders to double voting rights (5.95% of the issued share capital).

Changes in share capital in 2017

On October 16, 2017, the Company issued bonds convertible or exchangeable into new or existing shares (OCEANEs) due October 16, 2022 for a nominal amount of €180 million. This transaction is recorded as a liability component and an equity component; the latter is measured at €14,312 net of deferred taxes (see Note 12.2, "Breakdown of other loans and borrowings").

Changes in share capital in 2018

On December 27, 2018, the Board of Directors of the Company determined that some of the performance conditions for the AGA D 2016-1 and all of the performance conditions for the AGA S 2016-1 were met, and therefore 17,484 ordinary shares were definitively acquired by their beneficiaries, and the share capital was increased by the nominal amount.

Changes in share capital in 2019

The Chairman and CEO, acting on a decision and delegation from the Board of Directors on March 13, 2019, decided on March 26, 2019, in accordance with the 17th and 18th resolutions of the Shareholders Meeting of June 15, 2018, to proceed with a capital increase by offering ordinary shares in the form of American Depositary Shares in the United States and a private placement of ordinary shares in Europe and other countries outside the United States. This transaction led to the issuance of 7,647,500 new shares representing a subscription of a gross amount of €137.6 million. Settlement-delivery took place on March 29, 2019 and the share capital has been increased accordingly. See note 2.1 “ “Initial Public Offering on the Nasdaq Global Select Market”.

In addition, the Chief Executive Officer, acting on a decision and delegation from the Board of Directors on November 27, 2019, determined on December 16, 2019, with retroactive effect to December 15, 2019, that some of the performance and attendance conditions of the AGA D 2016-1 and AGA D 2016-2 and all of the AGA S 2016-2 free shares had been satisfied. 7,796 free shares were thus definitively vested and the same number of new shares were created. The share capital was increased accordingly.

Finally, the Chief Executive Officer, acting on a decision and delegation from the Board of Directors on November 21, 2017, determined on January 2, 2020, with retroactive effect to December 31, 2019, that some of the performance and attendance conditions of the AGA D 2017-1 and all of the AGA S 2017-1 free shares has been satisfied. As a result, 19,400 free shares definitively vested and the same number of new shares were created and the share capital was increased accordingly.

At December 31, 2019, the total number of shares comprising the share capital, taking into account the above, was 38,858,617 shares.

Other Income

12 Months Ended

Dec. 31, 2019

Disclosure Of Other Income [Abstract]

Other Income

18.	OTHER INCOME

Other income consisted of the following:

Other income	Year ended
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
CIR tax credit		6,545		7,295		8,125
Other operating income (including CICE tax credit )-		171		130		1,992
Government grants and subsidies		21		—		5
TOTAL		6,737		7,425		10,122

During 2019, the Group recognized in “Other operating income” €1,985 for exchange gains on trade receivables linked to services denominated in US dollars (€38 were recognized as financial income in 2018).

During the 2017 and 2018 fiscal years, the Group recognized in other operating income €170 and €122, respectively, relating to the CICE ( Crédit d'impôt pour la compétitivité et l'emploi ), which is a tax credit implemented to enhance the competitiveness of businesses through the promotion of certain activities and employment. In 2017 and 2018, the tax credit was equal to 7% and 6%, respectively, of all wages paid to employees during the year in respect of salaries that do not exceed 2.5 times the French minimum wage.

During the year ended December 31, 2019 we had foreign exchange gains related to trade receivables linked to services denominated in U.S dollars, which amount to €1,985 which is recorded as other operating income.

The CICE was discontinued on January 1, 2019.

Operating Expense

12 Months Ended

Dec. 31, 2019

Operating Expense [Abstract]

Operating Expense

19.	OPERATING EXPENSE

Year Ended December 31, 2017

							Contracted
							research &												Gain /
Operating expenses and other operating				Raw			development activities						Other expenses			Depreciation,			(loss) on disposal of
income (expenses) (in thousands of	Year ended			materials& consumables			conducted by third			Employee			(maintenance, fees, travel,			amortization & impairment			plant & property,
euros)	2017/12/31			used			parties			expenses			taxes)			charges			equipment
Research and development expenses		(54,189	)		(2,117	)		(35,088	)		(7,915	)		(7,973	)		(1,095	)		—
General and administrative expenses		(9,421	)		(112	)		(7	)		(5,491	)		(3,374	)		(437	)		—
Other operating income (expenses)	60			—			—			—				68		—				(8	)
TOTAL		(63,550	)		(2,229	)		(35,095	)		(13,406	)		(11,280	)		(1,532	)		(8	)

19.	OPERATING EXPENSE (Continued)

Year Ended December 31, 2018

	Of which:
							Contracted												Gain /
				Raw			research and						Other			Depreciation,			(loss) on
				materials			development						expenses			amortization			disposal of
				and			activities						(maintenance,			and			property,
Operating expenses and other operating income (expenses)	Year ended			consumables			conducted by			Employee			fees, travel,			impairment			plant and
(in € thousands)	2018/12/31			used			third parties			expenses			taxes…)			charges			equipment
Research and development expenses		(67,024	)		(1,724	)		(47,659	)		(9,431	)		(6,502	)		(1,707	)		—
General and administrative expenses		(9,076	)		(126	)		(2	)		(3,778	)		(5,451	)		283			—
Marketing and market access expenses		(717	)		(4	)		—			(416	)		(287	)		(11	)		—
Other operating income and (expenses)		(162	)		—			—			—			(164	)		—			2
TOTAL		(76,979	)		(1,855	)		(47,662	)		(13,625	)		(12,403	)		(1,435	)		2

	Of which:
							Contracted												Gain /
				Raw			research and						Other			Depreciation,			(loss) on
				materials			development						expenses			amortization			disposal of
				and			activities						(maintenance,			and			property,
Operating expenses and other operating income (expenses)	Year ended			consumables			conducted by			Employee			fees, travel,			impairment			plant and
(in € thousands)	2019/12/31			used			third parties			expenses			taxes…)			charges			equipment
Research and development expenses		(66,170	)		(2,017	)		(41,509	)		(11,740	)		(6,188	)		(4,716	)		—
General and administrative expenses		(17,265	)		(177	)		(59	)		(7,598	)		(8,972	)		(458	)		—
Marketing and market access expenses		(13,708	)		(8	)		(0	)		(1,645	)		(11,979	)		(76	)		—
Other operating income (expenses)		(1,649	)		—			—			—			(1,668	)		—			19
TOTAL		(98,793	)		(2,202	)		(41,568	)		(20,984	)		(28,807	)		(5,251	)		19

19.	OPERATING EXPENSE (Continued)

Research and development expenses at each reporting date take into account estimates for ongoing activities subcontracted as part of the clinical trials and not yet invoiced, on the basis of detailed information provided by subcontractors and reviewed by the Group’s internal departments. The accuracy of these estimates for some types of expenses improves with the progression of the trials and the review of their determination methods. In 2019, the CRO (Clinical Research Organization) commissioned as part of the RESOLVE- IT trial updated its investigator cost estimation model by refining certain assumptions on the basis of historical data. These changes constitute a change in accounting estimate within the meaning of IAS 8 and have led to a reduction in the amount recognized for invoices not received related to these specific costs in an amount of €6,994 compared to the previous model.

The subcontracting costs in 2019 are mainly due to the start of new satellite studies in the RESOLVE-IT Phase 3 study, the work required to prepare the marketing authorization dossier for elafibranor in NASH, and the increase in the production volume of the active ingredient necessary for the realization of the various clinical trials. The impact of the changes in estimation of investigator costs for the RESOLVE-IT study led to a stabilization in R&D expenses in 2019.

The increase in employee-related costs results mainly from the increase in headcount (194 at December 31, 2019 versus 148 as of December 2018), the change in employee profiles and the associated increase in compensation, and the bonuses that were awarded to employees in 2019 for their involvement in the development of the Group.

The change in other expenses in 2019 is related in particular to the costs related to the preparation of commercialization of elafibranor in NASH and NIS4, costs related to the purchase of two civil liability insurance policies in connection with the listing of shares on the NASDAQ, fees of financial advisors and statutory auditors, and intellectual property expenses.

In 2017, the donation to The NASH Education Program (€1,808) was classified as a research & development expense because the 2017 donation was primarily related to the creation of a NASH patient registry in particular to increase understanding of the prevalence and natural history of NASH/

NAFLD, and the development of co-morbidities historically linked to NASH/NAFLD, which information is to be used as part of the efforts to collect RWE (Real World Evidence) data to better address the needs of the patients, which information could be utilized by the Company in its research & development efforts.

The increase in contracted research and development activities conducted by third parties in the 2018 period was primarily the result of the progression of the research and development pipeline; and mainly operational outsourcing costs related to the Phase 3 RESOLVE-IT clinical trial of elafibranor for the treatment of NASH and, to a lesser extent, those related to the Phase 2 trial of elafibranor in PBC and the launch of the Phase 2 trial in NTZ.

The increase in employee expenses in 2018 is mainly due to the evolution of employee profiles (specialized and more experienced), the increase in compensation, and the increase in the number of employees.

Other operating expenses include costs related to facilities and their maintenance, intellectual property costs, and expenses related to the preparation of marketing of elafibranor in NASH. In 2018, the Company's donation to The Nash Education Program endowment fund (€959) was dedicated mainly to the organization of the first international NASH Day. In this context, in 2018, the Company has classified this charge as general and administrative expenses.

19.	OPERATING EXPENSE (Continued)

19.1.

Employee expenses

Employee expenses and number of employees were as follows:

Employee expenses	Year ended
(in € thousands)	2017/12/31			2018/12/31			2019/12/31
Wages and salaries		(9,267	)		(9,012	)		(14,018	)
Social security costs		(3,996	)		(3,722	)		(5,171	)
Changes in pension provision		135			(104	)		(138	)
Individual training entitlement		—			—			—
Share-based compensation		(278	)		(787	)		(1,657	)
TOTAL		(13,406	)		(13,625	)		(20,984	)

	Year ended
Number of employees at year-end - detail	2017/12/31		2018/12/31		2019/12/31
Average number of employees		123		135		175
Average age of employees	38 years 4 months		38 years 11 months		37 years 1 month
Number of employees
Research and development		77		84		108
Services related to research and development		15		16		19
Administration and management		33		48		60
Marketing and commercial		—		—		7
TOTAL		125		148		194
Number of employees
Senior staff		92		115		144
Staff		29		30		45
Others (apprentices)		4		3		5
TOTAL		125		148		194
Number of employees
Male		45		57		78
Female		80		91		116
TOTAL		125		148		194

Share-Based Compensation

12 Months Ended

Dec. 31, 2019

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]

Share-Based Compensation

20.	SHARE-BASED COMPENSATION

Share-based compensation is granted by the Group to employees, executive officers, board members and consultants.

Share-based compensation granted to employees and executive officers in 2014 through 2019 corresponds to redeemable share warrants (" Bons de Souscriptions et/ou d'Acquisition d'Actions " or "BSAAR"), stock options ("SO") and free shares (" actions gratuites " or "AGA")

Share-based compensation granted to board members and consultants in 2014, 2015, 2017 and 2019 corresponds to share warrants (" Bons de Souscriptions d'Actions " or "BSA").

For the measurement of this share-based compensation, the Group has determined that under IFRS its consultants were not equivalent to employees.

Under these programs, holders of vested instruments are entitled to subscribe to shares of the Company at a pre-determined exercise price. All of the plans are equity settled.

No instruments were exercised during 2017, 2018 and 2019.

New plans were put in place in 2019 under the terms and conditions discussed below.

The expense recognized pursuant to IFRS 2 was €1,645 in 2019, €787 in 2018 and €278 in 2017.

The Group has revised its estimate of the number of equity instruments expected to be vested taking into account the number of lapsed instruments noted after 4 years of successive plans. As a result, Genfit revised the turnover rate assumption, which was estimated at 15%, to a rate of 0%, taking into account recent observations and the actual number of lapsed instruments at each closing.

The table below shows the share-based compensation under each plan according to the change in estimate mentioned above .

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2014-A		—		—		—		945		—
Of which : expense related to non-executive officers		—		—		—		365		—
Of which : expense related to consultants		—		—		—		581		—
BSA 2014-B		—		—		—		1,045		—
Of which : expense related to non-executive officers		—		—		—		365		—
Of which : expense related to consultants		—		—		—		680		—
BSAAR 2014-A		—		—		—		43		—
Of which : expense related to non-executive officers		—		—		—		9		—
Of which : expense related to consultants		—		—		—		34		—
BSAAR 2014-B		—		—		—		191		0
Of which : expense related to non-executive officers		—		—		—		35		0
Of which : expense related to consultants		—		—		—		156		—
BSAAR 2014-C		—		—		—		189		0
Of which : expense related to non-executive officers		—		—		—		35		—
Of which : expense related to consultants		—		—		—		154		0

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2015-A		—		—		—		335		—
Of which : expense related to non-executive officers		—		—		—		178		—
Of which : expense related to consultants		—		—		—		157		—
BSA 2015-B		—		—		—		315		—
Of which : expense related to non-executive officers		—		—		—		178		—
Of which : expense related to consultants		—		—		—		138		—

	Year ended							Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31			calculated		remaining
BSAAR 2016-A		—		—		—			—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		—			—		—
BSAAR 2016-B		—		—		—			—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		—			—		—
AGA D 2016-1		38		127		—			166		0
Of which : expense related to executive officers		7		25		—			32		0
Of which : expense related to employees		31		101		—			133		0
AGA D 2016-2		17		17		39			74		—
Of which : expense related to executive officers		3		3		8			14		—
Of which : expense related to employees		14		14		31			59		—
AGA S 2016-1		44		151		—			197		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		44		151		—			197		—
AGA S 2016-2		22		22		44			88		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		22		22		44			88		—
SO 2016-1		83		83		213			383		—
Of which : expense related to executive officers		13		13		36			63		—
Of which : expense related to employees		70		70		176			319		—
SO 2016-2		38		38		93			170		—
Of which : expense related to executive officers		6		6		16			28		—
Of which : expense related to employees		32		32		77			142		—
SO US 2016-1		12		12		(24	)		—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		12		12		(24	)		—		—
SO US 2016-2		5		5		(11	)		—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		5		5		(11	)		—		—

	Year ended							Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31			calculated		remaining
BSA 2017-A		6		63		—			69		—
Of which : expense related to non-executive officers		4		43		—			47		—
Of which : expense related to employees		2		20		—			22		—
BSA 2017-B		3		66		—			70		0
Of which : expense related to non-executive officers		2		46		—			48		0
Of which : expense related to employees		1		21		—			22		0
AGA D 2017-1		1		17		199			217		—
Of which : expense related to executive officers		0		2		28			30		—
Of which : expense related to employees		1		15		171			187		—
AGA D 2017-2		2		29		56			131		44
Of which : expense related to executive officers		0		3		8			18		6
Of which : expense related to employees		2		26		48			113		37
AGA S 2017-1		—		—		209			209		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		209			209		—
AGA S 2017-2		2		24		45			104		34
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		2		24		45			104		34
SO 2017-1		2		28		27			61		4
Of which : expense related to executive officers		0		5		5			11		1
Of which : expense related to employees		2		23		22			50		4
SO 2017-2		3		48		2			81		28
Of which : expense related to executive officers		1		8		0			15		5
Of which : expense related to employees		3		39		2			66		23
SO US 2017-1		0		3		(4	)		—		0
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		0		3		(4	)		—		0
SO US 2017-2		0		5		(6	)		—		0
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		0		5		(6	)		—		0

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
AGA D 2018		—		10		135		277		132
Of which : expense related to executive officers		—		2		21		43		21
Of which : expense related to employees		—		9		114		234		111
AGA S 2018		—		12		148		305		145
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		12		148		305		145
SO 2018		—		24		285		849		539
Of which : expense related to executive officers		—		3		40		118		75
Of which : expense related to employees		—		21		245		730		464
SO US 2018		—		3		25		76		48
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		3		25		76		48

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2019		—		—		7		26		20
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		7		26		20
AGA D 2019		—		—		35		242		207
Of which : expense related to executive officers		—		—		5		38		33
Of which : expense related to employees		—		—		29		204		175
AGA S 2019		—		—		41		288		246
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		41		288		246
SO 2019		—		—		86		599		513
Of which : expense related to executive officers		—		—		10		68		58
Of which : expense related to employees		—		—		76		531		455
SO US 2019		—		—		1		43		42
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		1		43		42

Year ended

Total

expense

Total

expense

Share-based compensation - Annual expense

2017/12/31

2018/12/31

2019/12/31

calculated

remaining

TOTAL

278

787

1,645

7,787

2,004

20.1.

Share warrants ( bons de souscription d'actions or BSA)

The key terms and conditions related to each program are detailed in the following tables:

Share-base compensation	2019	2017		2015		2014
Share warrants ( BSA )
		BSA 2017-A	BSA 2017-B	BSA 2015-A	BSA 2015-B	BSA 2014-A	BSA 2014-B

Date of the Shareholders meeting	06/15/2018	06/16/2017		04/02/2014		04/02/2014
Date of the Management Board meeting				01/09/2015		07/24/2014
Date of the decision and delegation of the Board of Directors to the CEO	10/18/2019	11/21/2017
Date of the CEO decision	10/31/2019	12/06/2017
Beneficiaries	Consultants	Consultants and officers		Consultants and officers		Consultants and officers
Total number of BSAAR subscribed	35,070	18,345	18,345	12,860	12,860	46,765	46,765
Total number of BSAAR voided	0	0	0	12,860	12,860	46,765	46,765
Total number of BSAAR remaining	35,070	18,345	18,345	0	0	0	0
Issue Price	€1.23	€2.00		€0.01		€0.01
Excercise price	€12.32	€19.97		€35.95		€23.50
Estimated fair value - according to IFRS 2	€0.75	€3.78	€3.81	€25.33 /€26.89	€25.33 /€26.31	€15.61 /€24.84	€15.61 /€24.85
End of exercise period	05/31/2024	06/30/2022	07/15/2022	05/31/2019	11/30/2019	09/30/2018	02/28/2019
Valuation method used	Black & Scholes
Expected dividends	0%	0%		0%		0%
Expected volatility	40.0%	36.4%	35.7%	74.9%		74.9%
Risk-free interest rate	0%	0.0%		0.4%		0.4%
Expected life	0.7 years	6 years		4 years		4 years

The services performed by the consultants are mainly:

•

to evaluate product development plans and propose, if necessary, changes to strategic or technical approaches;

•

to advise the Company's management and the Scientific Board in identifying strategies and selecting drug candidates, based in particular on the scientific results obtained by the Group (new therapeutic targets, new compounds); and

•

to assist and advise the Group in its alliance strategies, such as external growth-supporting synergies (acquisition of new competencies and the purchase of operating rights, drug candidates and innovative technologies, etc.).

20.2.

Redeemable warrants ( bons de souscription et/ou d'acquisition d'actions remboursables or BSAAR)

Share-Based compensation	2 016	2 014
Redeemable share subscription warrants ( BSAAR )	BSAAR 2016-A and B	BSAAR 2014-A - B and C
	Employees	Employees and Officers

Date of the Shareholders' meeting	02/24/2015	04/02/2014
Date of the Management Board Meeting	07/22/2016	09/16/2014
Date of the decision and delegation of the Board of Directors to the CEO
Date of the CEO decision
Total number of BSAAR subscribed	10,800	62,717
Total number of BSAAR voided	0	61,484
Total number of BSAAR exercised	0	1,233
Total number of BSAAR remaining	10,800	0
Issue Price	€23.5	€23.5
Exercise period	From 01/01/2018 to 27/07/2020	voided on 09.2018 - 05.2019 and 07.2019
Estimated fair value - valued by expert opinion	€4.60	from €8.44 to €11.29
Valuation method used	Black & Scholes	Black & Scholes
Expected dividends	0%	0%
Expected volatility	75.4%	75.4%
Risk-free interest rate	0.0%	0.4%
Expected life	4 years	4 years

The exercise of the BSAAR 2016-A is subject to the following performance condition: the Group will have, at the date it receives the exercise notice accompanied by the payment of the exercise price, the financial means to carry out its research and development programs, and at a minimum its development program for elafibranor in NASH until at least the end of 2018.

The exercise of the BSAAR 2016-B is subject to the following performance condition: the Group will have published, on the date it receives the exercise notice accompanied by the exercise price, the main results of the RESOLVE-IT clinical trial for which it is the sponsor.

20.3.

Free shares ( actions gratuites attribuées or AGA)

The key terms and conditions related to each program are detailed in the following tables:


Share-based compensation	2 019				2 019					2 018		2 017		2 016
Free shares (AGA)	AGA D				AGA S
	Officers(1)		Employees		Officers(1)		Employees		AGA D and S		AGA D and S 2017-1 and 2017-2		AGA D and S 2016-1 and 2016-2

Date of the Shareholders meeting	06/15/2018								06/15/2018		06/16/2017		06/21/2016
Date of the Management Board meeting													12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO	07/18/2019								11/07/2018		11/22/2017
Date of the Executive Board Meeting	07/18/2019								11/22/2018		12/06/2017
Total number of AGA subscribed		3,000		16,070		0		17,556		35,800		41,196		30,709
Total number of AGA voided		0		450		0		702		1,872		9,846		5,429
Total number of AGA definitively vested		0		0		0		0		0		19,403		25,280
Total number of AGA remaining		3,000		15,620		0		16,854		33,928		11,947		0
Acquisition period	From 07/18/2019 to 09/16/2022								From 11/22/2018 to 12/31/2020		From 12/06/2017 to 12/31/2020		From 12/15/2016 to 12/15/2019
Valuation method used	Monte Carlo
Price of the share at the time of allocation	€17.06								€	20.02	€	21.95	€	20.78
Expected dividends	0%								0%		0%		0%
Expected volatility	40.16%								38.0%		53.7%		63.0%
Risk-free interest rate	0.0%								0.0%		0.0%		0.0%
Turnover rate	0.00%								15.00%		15.00%		15.00%
(1) : Chairman and CEO
The terms and conditions of the 2016 to 2018 allocations to the Chairman and CEO are provided in the Universal Registration Document or the financial statements for the relevant periods.
(1) : Chief executive officer

The final allocation of free shares is subject to continued employment with the Group and performance conditions. These performance conditions are described in item 6 B

20.4.

Stock options ( options de souscription d'actions or SO)

The key terms and conditions related to each program are detailed in the following tables:


Share-based compensation	2 019				2 018		2 017		2 016
Stock-options (SO)	SO		SO US 1	SO US 2	SO 2018	SO US 2018	SO 1 et 2 2017	SO US 2017	SO 1 et 2 2016	SO US 2016
	Officers(1)	Employees	Employees	Employees	Employees and Offices	Employees	Employees and Offices	Employees	Employees and Offices	Employees

Date of the Shareholders meeting	06/15/2018			11/27/2019	06/15/2018		06/16/2017		06/21/2016
Date of the Management Board meeting									12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO	07/18/2019			11/27/2019	11/07/2018		11/21/2017
Date of the CEO decision	07/18/2019			11/27/2019	11/07/2018		12/06/2017
Total number of SO subscribed	15,130	92,750	30,620	13,350	122,000	17,500	96,250	13,000	62,875	10,500
Total number of SO voided	0	1,780	0	0	2,000	3,000	21,577	13,000	13,169	10,500
Total number of SO definitively vested	0	0	0	0	0	0	0	0	49,706	0
Total number of SO remaining	15,130	90,970	30,620	13,350	120,000	14,500	74,673	0	0	0
Excercise price	€13.99		€16.9	€14.31	€16.00	€21.65	€17.91	€22.54	€15.79	€21.12
Vesting period	From 07/18/2019 to 09/16/2022			From 11/27/2019 to 01/16/2023	From 11/07/2018 to 12/31/2021		From 12/06/2017 to 12/31/2020		From 12/15/2016 to 12/15/2019
Exercise period	From 09/17/2022 to 09/17/2029			From 01/17/2023 to 01/17/2030	From 01/01/2022 to 12/31/2028		From 01/01/2021to 12/31/2027		From 12/16/2019 to 12/16/2026
Fair value	€4.59		€3.67	€3.23	€9.32	€6.9	€9.32		€10.3	€8.52
Valuation method used	Monte Carlo
Price of the share at the time of allocation	€17.06			€14.5	€22.12		€21.95		€20.79
Expected dividends	0%			0%	0%		0%		0%
Expected volatility	40.16%			40.0%	44.07%		53.7%		63.0%
Risk-free interest rate	0.0%			0.0%	0.0%		0.0%		0.0%
Turnover rate	0.00%			0.00%	15.00%		15.00%		15.00%

Volatility assumptions in the above tables are determined by reference to the Company's historical share price observed on the grant date over a two- and 3-years period prior to the grant date, adjusted for extreme variations, if any. See note 4.22 share based compensation.

Definitive vesting is subject to continued employment with the Group and performance conditions. These performance conditions are described in item 6 B

20.5.

Performance conditions

The SO and SO US stock option plans as well as certain free share plans (AGA "D") implemented in 2016, 2017, 2018 and 2019 are subject to internal performance conditions related to the progress of the Group's research and development programs, and to external performance conditions related to the evolution of the Company's stock price.

The other free share plans (AGA "S") are subject only to internal performance conditions.

20.5.1.

Performance conditions of the 2019 plans


Plans	Evaluation date for performance conditions	Nature of internal conditions
SO 2019 SO US 2019 AGA D 2019	07/31/2022	66 2/3% of the instruments will be exercisable or definitively vested, and 100% of the free shares for the AGA S 2019 will be vested, regardless of the variation of the stock market price of the Company’s shares, if at least one of the three following conditions is fulfilled: (i) if a marketing authorization is granted or an application for marketing authorization is examined: • by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) for elafibranor for NASH; or: • by the U.S. Food and Drug Administration (FDA)/the competent European authorities in the field of IVD for NIS4 for NASH; or: (ii) if at least two of the four clinical trial among the following trials have delivered their principal results or are ongoing: • Phase III clinical trials for elafibranor for PBC; or • clinical trial evaluating elafibranor’s efficacy in NASH pediatric patients; or • Phase IIb clinical trial or clinical trial aimed at registration for NTZ in fibrosis; or • Clinical trial evaluating elafibranor or NTZ in combination therapy for NASH or for hepatic fibrosis; or: (iii) if at least a new licensing agreement, on one or another of Genfit’s products in one or several territories, is entered into by the Company.
		Nature of external conditions
		33 1/3 % of the instruments will be exercisable or definitively vested, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated
SO US 2019-2	01/09/2023	Nature of internal conditions
		66 2/3 % of the instruments will be exercisable if at least if at least one of the three following conditions is fulfilled: (i) if elafibranor has been granted marketing authorization by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) in NASH or PBC or NIS4 has been authorized by FDA or received CE marking from the EMA; (ii) a licensing agreement pertaining to elafibranor or NTZ has been signed for the U.S. market and/or for at least two of the five major European markets (Germany, France, Italy, United Kingdom, Spain) and/or Japan; (iii) at least two clinical trials for drug registration are underway. Nature of external conditions
		33 1/3 % of the instruments will be exercisable, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated.
		Nature of internal conditions
AGA S 2019	07/31/2022	The free shares will definitively vest upon the same internal performance conditions as the SO 2019, SO US 2019 and AGA D 2019 plans

Financial Income and Expenses

12 Months Ended

Dec. 31, 2019

Financial Income And Expenses [Abstract]

Financial Income and Expenses

21.	FINANCIAL INCOME AND EXPENSES

Financial income and expenses	Year ended
(in € thousands)	2017/12/31			2018/12/31			2019/12/31
	(*)				(*)
Financial income
Interest income		389			202			2,626
Foreign exchange gain		59			101			2,272
Other financial income		195			425			324
TOTAL - Financial income		642			728			5,221
Financial expenses
Interest expenses		(2,309	)		(10,955	)		(11,289	)
Interest expenses for leases		(10	)		(21	)		(148	)
Foreign exchange losses		(764	)		(127	)		(1,657	)
Other financial expenses		(13	)		(14	)		(17	)
TOTAL - Financial expenses		(3,096	)		(11,118	)		(13,110	)
FINANCIAL GAIN (LOSS)		(2,453	)		(10,391	)		(7,889	)

•

* The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Financial expenses for loans and borrowings are due to the interest on the OCEANEs, mainly due to interest payments at a rate of 3.5% and the discounting of the bond debt at an effective interest rate of 7.2%. The discounting of bond debt consists of bringing the amount of the debt component of the bond issue to the amount that will be repaid (or converted) at maturity, by the recognition of a theoretical annual interest expense resulting from the accretion over the period of an amount equivalent to the equity component at an effective interest rate.

The increase in financial income is due to the increase in interest on term accounts. GENFIT has decided to keep some of its cash in US dollars. See note 6.6 “Cash and cash equivalents”.

Income Tax

12 Months Ended

Dec. 31, 2019

Deferred Tax Expense Income [Abstract]

Income Tax

22.	INCOME TAX

22.1.

Losses available for offsetting against future taxable income

At December 31, 2017, 2018 and 2019, the tax loss carry forwards for the Company amounted to €226,708, €305,530 and €384,471, respectively.

Such carry forwards can be offset against future taxable profit within a limit of €1.0 million per year plus 50% of the profit exceeding this limit. Remaining unused losses will continue to be carried forward indefinitely.

22.2	Deferred tax assets and liabilities

The Group's main sources of deferred tax assets and liabilities as of December 31, 2017 and 2018 related to:

Tax loss carry forwards: €226,708 and €305,530, respectively;

•

Temporary differences:

•

related to the OCEANE: a net deferred tax liability for €2,165 and €1,773 as of December 31, 2017 and 2018, respectively and

•

related to post-employment benefits: €936 and €1,085, respectively, or an impact on deferred tax assets of €262 and €304, respectively.

The Group’s main sources of deferred tax assets and liabilities as of December 31, 2019 related to:

•

Tax losses carry forwards: €384,471 (compared to €305,530 as of December 31, 2018);

•

Temporary differences related to:

the OCEANE: a deferred tax liability of €3,182 and an asset of €1,989, i.e., a net deferred tax liability of €1,193; and

post-employment benefits: a deferred tax liability of €352 offset by an asset of the same amount;

The Company offsets its deferred tax assets and liabilities (€1,988 and €3,182, respectively), as permitted by IAS 12, resulting in a net deferred tax liability of €1,193.

The income tax benefit for the period is mainly due to the decrease in the net deferred tax liability over the period.

Oher than as it relates to deferred tax assets recognized based on the available deferred tax liabilities, no other deferred tax asset has been recognized as it is not probable that taxable profit will be available to offset deductible temporary differences and tax loss carry forwards.

Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

23.	EARNINGS (LOSS) PER SHARE

The components of the earnings (loss) per share computation are as follows:

Basic loss per share is equal to diluted loss per share.

	Year ended
	2017			2018/12/31			2019/12/31
Earnings per share	(*)				(*)
Profit (loss) for the period (in € thousands)		(55,728	)		(79,521	)		(65,144	)
Weighted average number of ordinary shares for the period		31,166,437			31,167,203			36,987,982
Profit (loss) per share (in €)		(1.79	)		(2.55	)		(1.76	)
Weighted average number of ordinary shares used in the above calculation		31,166,437			31,167,203			36,987,982

•

Litigation and Contingent Liabilities

12 Months Ended

Dec. 31, 2019

Disclosure Of Contingent Liabilities [Abstract]

Litigation and Contingent Liabilities

24.	LITIGATION AND CONTINGENT LIABILITIES

Dispute over research tax credit calculation

Context

In 2014, the Company was under a tax audit at the end of which the French tax authorities questioned part of the Research Tax Credit (CIR) received by the Company for the 2010 fiscal year. The tax audit was extended to the CIR for the 2011 and 2012 fiscal years.

This tax audit was also extended to the 2014 CIR as part of a documentary audit the purpose of which was to apply the rules described below.

Subject matter of the dispute

The dispute with the French tax authorities pertained mainly to collaborative research alliances with partners in the pharmaceutical industry. The tax authorities contended that, in these alliances, the Company was acting as a sub-contractor, which should reduce the basis on which the CIR was computed by deducting amounts billed by the Company to the other party. The Company maintained that the contracts governing the collaborative research alliances included reciprocal provisions concerning intellectual property, the shared governance of the research programs, risk sharing, conditions governing the termination of the agreements and the terms of compensation, which demonstrated that they were not sub-contracting agreements.

On April 5, 2018, the Administrative Court of Montreuil partially accepted the Company’s claims on the CIR for 2010, 2011 and 2012, in particular, on the qualification of collaborative research. On June 28, 2018, the Administrative Court of Montreuil accepted the Company’s claim on the CIR for 2014. On September 11, 2018, following the judgment, the Company was repaid €432.

On July 25, 2018, and then on October 28, 2018, the Company was informed that the Ministry of Action and Public Accounts, appealed the aforementioned judgments.

On June 18, 2019, the Court of Appeals of Montreuil delivered its judgment on the first judgment and gave the Company the right to take into account the depreciation of certain assets eligible for the CIR but reversed the decision of the Administrative Court as it relates to the collaboration research for the CIRs received in connection with the 2010, 2011 and 2012 fiscal years. The Company will have to reduce the basis of its CIR claims by the amounts invoiced to its partners.

Provision

The Company has decided not to appeal the Court of Appeals decision, and therefore has recognized a provision totaling €1,892, which includes adjustments to the 2014 CIR, and for which it did not seek to continue before the court of appeals during a hearing in March 2020. The provision replaces in full the potential debts mentioned in the 2018 annual financial statements.

Related Parties

12 Months Ended

Dec. 31, 2019

Disclosure Of Transactions Between Related Parties [Abstract]

Related Parties

25.	RELATED PARTIES

Biotech Avenir SAS and The NASH Epidemiology Institute^TM , an endowment fund set up by the Company, are related parties within the meaning of IAS 24.9.

The registered office of Biotech Avenir SAS and that of The NASH Epidemiology Institute^TM are located at the same address as the Company. These domiciliations are provided without charge.

Biotech Avenir

Biotech Avenir SAS is a holding company incorporated in 2001 by the Company's founders. Most of its share capital is currently held by individuals, i.e., the four co-founders of the Company and approximately thirteen Company employees.

Jean-François Mouney, the Chairman of the Company, is also the Chairman of Biotech Avenir SAS.

At December 31, 2019, Biotech Avenir SAS held 4.86% of the share capital of the Company.

The Company did not carry out any transactions with Biotech Avenir in 2017, 2018 or 2019, with the exception of the domiciliation without charge.

The NASH Epidemiology Institute^TM

The NASH Education Program ^TM (which became The NASH Epidemiology Institute^TM ) endowment fund was created in November 2016 at the initiative of the Group to develop and finance disease awareness activities targeting medical professionals and the general public.

The transactions carried out in 2017, 2018 and 2019 between the Group and The NASH Education Program ^TM (now The NASH Epidemiology Institute^TM) and the Group's obligations with respect to The NASH Epidemiology Institute^TM are described in Note 27, "Commitments".

Frédéric Desdouits

Mr. Frédéric Desdouits, member of the Genfit Board of Directors since June 2014 , was appointed CEO of PCAS Group in March 2019. Elafibranor’s active principal ingredient has been made by a PCAS Group production unit since 2013, and since Mr. Frédéric Desdouits became PCAS Group’s CEO, has become a related party as defined by IAS 24.9 since March 2019. In 2019, we paid PCAS Group a total of €1.7 million (tax included).

In January 2020, the Company signed a Memorandum of Understanding with PCAS settings out the conditions under which the PCAS Group will:

•

set up a second manufacturing source for the active ingredient used in the composition of elafibranor, as part of initiatives to secure Genfit’s supply chain;

•

carry out technology transfers between the current manufacturing unit and the second source; and

•

undertake the necessary investments to carry out this goal and to increase the production capacity of the active ingredient in view of a potential future marketing authorization for elafibranor.

Compensation of Corporate Officers

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Of Corporate Officers [Abstract]

Disclosure of Compensation of Corporate Officers Explanatory

26.	COMPENSATION OF CORPORATE OFFICERS

By resolution of the General Shareholders Meeting on June 16, 2017, the shareholders adopted the change in mode of administration and management of the Company and elected to change from a historical two-tiered board structure (Executive Board and Supervisory Board) to a single board (Board of Directors).

As a result, the table below provides details of the compensation paid to the Chairman and CEO, as well as that paid to the members of the Executive Board during the first half of 2017 (prior to the change in mode of governance) and for the financial years in which the relevant amounts were recognized in the statements of operations.

On September 2, 2019, the Board of Directors accepted the resignation of the Chairman and Chief Executive Officer of the Company and decided to separate the roles of Chairman of the Board of Directors and Chief Executive Officer of Genfit SA with effect from September 16, 2019.

At the same meeting, the Board of Directors appointed the Chief Executive Officer of the Company and confirmed the former Chairman and Chief Executive Officer in his functions as Chairman of the Board of Directors and member of certain committees of the Company's Board of Directors.

Under these conditions, the following table details the compensation paid to the Chairman and Chief Executive Officer in 2017, 2018 and during the period from January 1, 2019 to September 16, 2019, and the compensation paid to the Chief Executive Officer during the period from September 16 to December 31, 2019 (after the change in governance) and the years in which the amounts were recognized in the statement of operations.

Compensation paid to the Chairman and Chief Executive Officer	Year ended
in 2017 and 2018 and during the period from January 1, 2019 to September 16, 2019	2017/12/31		2018/12/31		2019/12/31 (1)
Short-term employee benefits (gross + employer's social contributions, paid)		1,476		1,569		1,338
Post-employment pension & medical benefits		199		—		—
Attendance fees				—		—
Share-based payment transactions		51		104		109
Director fees Genfit Corp (net)		37		30		22
TOTAL		1,763		1,703		1,469

Compensation paid to the Chief Executive Officer	Year ended
in 2018 and during the period from September 16, 2019 to December 31, 2019	2017/12/31		2018/12/31		2019/12/31
Short-term employee benefits (gross + employer's social contributions, paid)		—		—		140
Post-employment pension & medical benefits		—		—		—
Attendance fees		—		—		—
Share-based payment transactions		—		—		—
Director fees Genfit Corp (net)		—		—		—
TOTAL		—		—		140

⁽¹⁾

Within this total, only the portion of the amounts paid in 2019 to the Chairman and Chief Executive Officer pursuant to the 13th resolution of the Annual General Meeting of June 13, 2019, for the part of the Incentive Plan corresponding to that portion of work on the initial public offering of the Company on the Nasdaq Global Select Market carried out in 2018, i.e., ¾ of the amount due, i.e. a gross amount of €562,893. The balance, i.e. a gross sum of €187,631 related to the work in 2019 was to be paid subject to the approval by the shareholders of the General Meeting to approve the accounts for the financial year ended on December 31, 2019. It is therefore not shown in this table but was provisioned in the accounts for the year ended December 31, 2019. However, in May 2020, the Chairman of the Board of Directors decided to forgo this amount; as a result, as noted by the Board of Directors, the balance of €187,631 will not be paid.

26.	COMPENSATION OF CORPORATE OFFICERS (continued)

The Chairman of the Board of Directors, Jean-François Mouney, receives a fixed compensation. He also has use of a company vehicle and the Group’s insurance and disability plan. These benefits are totaled in the table above in the "Other compensation" line. The Chairman of the Board of Directors also receives attendance fees granted for his participation in the work of some of the committees of the Board of Directors.

The Chief Executive Officer’s corporate contract contains a clause whereby, in the event of termination, he would receive a non-compete indemnity equal to:

(i)

twelve (12) months of fixed compensation, calculated on the basis of the gross amounts due for the past twelve months ended and

(ii)

increased, where applicable, by the amount of the annual variable compensation due for the previous year. This compensation is intended to compensate the prohibition made to the Chief Executive Officer, for a period of 12 months following the termination of his functions, for whatever reason, to work in any way whatsoever with certain companies carrying out a directly competitive activity of the Company.

In addition, the Chief Executive Officer, except in the event of gross negligence within the meaning of labor law, shall receive severance pay equal to:

(i)

twelve (12) months of fixed compensation, calculated on the basis of the gross amounts due for the twelve past completed months and

(ii)

increased, where applicable, by the amount of annual variable compensation due for the previous year. This compensation will be paid one month after his effective termination of activity within the Group. The compensation will not be paid if, on his initiative, the Chief Executive Officer leaves the Company to exercise new functions or changes functions within the Group, or even if he has the possibility of asserting in the short term his retirement rights. It is also specified that any sum paid under the non-competition clause will be deducted from the sums due under the severance pay and vice versa. The total and maximum commitment represented by this indemnity (gross, employer charges and payroll tax) as of December 31, 2019 would amount to €341.

26.	COMPENSATION OF CORPORATE OFFICERS (continued)

The directors' fees and other compensation due and paid to the non executive directors are as follows:

	Amounts due*		Amounts paid*		Amounts due*		Amounts paid*		Amounts due*		Amounts paid*
	During the year ended December 31,
Attendance fees and other forms of remuneration payable to each of the non executive officer (in euros)	2017(4)				2018				2019
Jean-François MOUNEY(1)
Attendance fees		—		—		—		—		14,791		633
Other remuneration (except his compensation as CEO between January 1, and September 16, 2019)(5)		—		—		—		—		88,874		88,874
Total		—		—		—		—		103,665		89,507
Xavier GUILLE DES BUTTES
Attendance fees		30,218		24,688		53,330		41,311		68,016		67,580
Other remuneration		—		—		—		—		—		—
Total		30,218		24,688		53,330		41,311		68,016		67,580
Charles WOLER(2)
Attendance fees		5,925		5,925		—		—		—		—
Other remuneration		—		—		—		—		—		—
Total		5,925		5,925		—		—		—		—
Frédéric DESDOUITS
Attendance fees		13,627		11,258		21,174		17,113		33,136		30,302
Other remuneration		—		—		—		—		—		—
Total		13,627		11,258		21,174		17,113		33,136		30,302
BIOTECH AVENIR
Represented by Florence Séjourné
Attendance fees		—		—		—		—		—		—
Other remuneration		—		—		—		—		—		—
Total		—		—		—		—		—		—
Philippe MOONS
Attendance fees		18,763		14,023		29,704		22,345		36,188		41,202
Other remuneration		—		—		—		—		—		—
Total		18,763		14,023		29,704		22,345		36,188		41,202
Anne-Hélène MONSELLATO(3)
Attendance fees		14,813		10,468		37,075		24,307		44,472		53,410
Other remuneration		—		—		—		—		—		—
Total		14,813		10,468		37,075		24,307		44,472		53,410
Catherine LARUE(3)
Attendance fees		11,258		8,098		21,256		17,985		33,136		28,122
Other remuneration		—		—		—		—		—		—
Total		11,258		8,098		21,256		17,985		33,136		28,122
TOTAL		94,602		74,458		162,539		123,061		318,613		310,123

26.	COMPENSATION OF CORPORATE OFFICERS (continued)

		2017(4)		2018		2018
IFRS 2 valuation of share warrants granted during the financial year		94,875		—		—

*	After applying a required 21% withholding

(1)	Jean-François MOUNEY joined the Board of Directors on June 16, 2017 as Chairman.

(2)	Since the Shareholders' Meeting on June 16, 2017, Charles WOLER is no longer a board member.

(3)	Anne-Hélène MONSELLATO and Catherine LARUE were appointed to the Board of Directors by the shareholders at the June 16, 2017 Shareholders' Meeting.

(4)	The remuneration received by Xavier GUILLE DES BUTTES, Frédéric DESDOUITS, Biotech Avenir and Philippe MOONS until June 16, 2017 was in their capacities as members of the Supervisory Board.

(5)	The attendance fees and other remuneration for Jean-François Mouney above correspond to amounts due for the period from September 16, 2019 to December 31, 2019.

In addition, the Company has provided corporate officers, directors and members of the Executive Committee a “directors and officers” insurance against claims relating to certain actions they may take in the performance of their duties. For the 12-month period starting in March 2019, the insurance premium including the IPO insurance policy premium for the implementation of this insurance coverage amounted to €3,146 and is being amortized over the coverage period.

Commitments

12 Months Ended

Dec. 31, 2019

Disclosure Of Commitments [Abstract]

Commitments

27.	COMMITMENTS

Subcontracting agreements

The Group enters into contracts in the normal course of business with clinical research organizations (CROs) for clinical trials, as well as with Contract Manufacturing Organizations (CMOs) for clinical and commercial supply manufacturing, commercial and pre-commercial activities, research and development activities and other services and products for operating purposes. The Group’s agreements generally provide for termination with specified periods of advance notice. Such agreements are generally cancelable contracts and not included in the description of the Group’s contractual obligations and commitments.

In 2019, the Company signed a Memorandum of Understanding –(MoU) with one of its CMOs to be followed by an implementation contract with the CMO to set up a second supply and manufacture source of elafibranor.

The costs related to the transfer of technology required for the establishment of the second source of supply and manufacturing, as well as the costs of manufacturing the registration lots are borne by the CMO and serve as a basis for calculating the penalties that would be payable by the Group in certain cases of early termination of the MoU or its implementation contract. The amount of these penalties could reach a maximum of €1,360.

Deposits and guarantees

The Company has guaranteed its rental payment obligation under the lease agreement for the headquarters in Loos, France in the amount of€542 at December 31, 2019 and €455 at December 31, 2018 and €455 at December 31,2017.

Obligations in respect of the co-ownership of intellectual property rights

To date, the Company has not been required to license any third-party intellectual property to develop drug candidates and biomarker candidates that comprise its portfolio of proprietary programs and products.

The Company ensures, with regard to these programs, that the collaboration or subcontracting agreements that it is required to enter into, systematically stipulate that the results of the research are the Company's property. This is particularly the case for research consortia, in which the Group is associated with university laboratories and other biotechnology companies. It therefore holds all the intellectual property rights over its portfolio of proprietary programs and products.

27.	COMMITMENTS (continued)

On the other hand, the agreements signed in the framework of the Company's historical co-research alliances with partners in the pharmaceutical industry provided that the intellectual property rights of the drug candidates developed under these alliances belonged to the partners. These agreements also provided that the Company had intellectual property rights over the innovative technologies discovered on this occasion, even if it had to grant a royalty free and non-exclusive license to the industrial partner for the purpose of developing drug candidates discovered under the co-research programs.

To date, Sanofi remains the only industrial partner likely to still have exploitation rights on a drug candidate developed as part of its historical co-research alliance with the Company and therefore able to use on a royalty-free basis, but not exclusively, technologies developed by the Company under this program. The other historic partners have informed the Company of their decision not to exploit or stop exploiting the results of joint research. Nevertheless, to date, Sanofi has not communicated to the Company its desire to continue the development of this program despite the last research phase shared with the Company's teams having ended in May 2015.

Other liabilities

Pursuant to an agreement with effect from July 1, 2016, the Company decided to finance the creation by Pinnacle Clinical Research of a registry of NAFLD/NASH patients, which diseases are targeted by certain of the Company's drug and biomarker candidates. This donation, for a maximum amount of USD $1,582 is being paid over the course of the creation of the registry on the basis of reporting periods.

The Company's goal in supporting the creation of this registry was to contribute to the improvement of scientific and medical knowledge around NAFLD and NASH. As a result, the Company decided on December 22, 2016, with effect from December 31, 2016, to assign the benefit and obligations of this agreement to its endowment fund, The NASH Education Program ^TM . The NASH Education Program ^TM was created on November 3, 2016 with Genfit as its sole founding member to educate the medical community and patients on the lessons that can be learned from these patients, in accordance with its objectives.

In 2017, 2018 and 2019, the Company granted to The NASH Education Program ^TM endowment fund a donation of €1,808 and €959 and €45, respectively, so that The NASH Education Program ^TM could honor its obligations under the transfer of registry donation and carry out the other planned disease awareness activities to patients and doctors and the organization of the first International NASH Day, which took place in June 2018. In 2019, the organization of this event was transferred to a patients’ organization.

Events after the Reporting Period

12 Months Ended

Dec. 31, 2019

Disclosure Of Nonadjusting Events After Reporting Period [Abstract]

Events after the Reporting Period

28.	EVENTS AFTER THE REPORTING PERIOD

In May 2020, the Company published the top-line results of the interim analysis of the RESOLVE-IT Phase 3 trial of elafibranor in NASH. Elafibranor did not demonstrate a statistically significant effect on the primary endpoint of NASH resolution without worsening of fibrosis or on the key secondary endpoints. GENFIT continues to review the data and will be conducting additional analyses. The Company will share its conclusions with regulatory authorities and with their guidance, determine a final decision regarding the continuation of the RESOLVE-IT trial. In parallel, we continue as planned with our NIS4 and Phase 3 PBC programs, which are independent of our NASH program with elafibranor.

On May 14, 2020, following our announcement that elafibranor had not achieved the primary or key secondary endpoints of the RESOLVE-IT trial, a purported shareholder class action complaint, captioned Schwartz v. Genfit S.A. et al., was filed in state court in the Commonwealth of Massachusetts, naming us, our board of directors and certain members of our senior management as defendants. The complaint alleges that we made materially misleading statements about the development of elafibranor in connection with our U.S. initial public offering in violation of U.S. federal securities laws. The complaint seeks unspecified compensatory damages. We and the defendants intend to defend the matter vigorously.

The financial impact of this class action complaint cannot be quantified at this time.

28.	EVENTS AFTER THE REPORTING PERIOD (Continued)

A new coronavirus strain, COVID-19, was identified in Wuhan, China in December 2019. Since then and particularly since the closing date, the COVID-19 coronavirus has spread to several countries, including the United States and several European countries, including countries in which the Company has clinical trials in progress, in countries where it plans to conduct clinical trials and in countries in which major subcontractors for carrying out its clinical trials and the production units of the active ingredient suppliers and therapeutic units of elafibranor, its most advanced drug candidate, are located. In March 2020, the Company published a press release outlining the main impacts of this unprecedented spread of COVID-19 on its activities:

•

RESOLVE-IT Phase 3 trial of elafibranor in NASH with fibrosis continues ; Working with our contract research organization, we have implemented appropriate measures to ensure the safety of patients who are already participating in the study: virtual clinic visits, local laboratory assessment, home delivery of study drug, and halting the screening of new patients.

•

All phase 1 trials – which include pharmacokinetic, food effect and bioequivalence studies – have been put on hold. These studies are necessary to support the elafibranor NDA submission for NASH.

•

Enrollment of patients in the PK/PD trial in pediatric patients with NASH as well as the Phase 2 study addressing liver fat have also been paused.

•

The initiation of the Phase 2 combination study, as well as that of the Phase 3 study in patients with PBC, have been put on hold.

•

NIS4 continues to be deployed in the clinical research field through our commercial partner Labcorp/Covance. There may be some limits in test utilization due to delays potentially experienced by some NIS4 clients as the result of the current COVID-19 situation. GENFIT teams are progressing the in-vitro diagnostic (IVD) aspect of the program in parallel.

•

Although the COVID-19 pandemic is rapidly evolving, and our plans may change accordingly, at this stage we do not anticipate any supply disruption for any of our current or planned studies.

•

All supporting activities pertaining to continuation of ongoing studies or the initiation of new studies will continue in order to minimize potential delays when the pandemic crisis subsides.

The financial impact of COVID-19 cannot be quantified at this time.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Disclosure Of Voluntary Change In Accounting Policy [Abstract]

Use of estimates and judgments

4.1.	Use of estimates and judgments

Consolidation

4.2.	Consolidation

The Group controls an entity when it is exposed to variable returns from its involvement with the entity, and it has the ability to affect those returns through its power over the entity.

The Group controls all the entities included in the scope of consolidation.

Foreign currency

4.3.	Foreign currency

4.3.1.

Foreign currency transactions

The resulting exchange gains or losses are recognized in the statements of operations.

4.3.2.

Translation of foreign subsidiary financial statements

	Year ended		Year ended		Year ended
Ratio : 1 US dollars (USD) = x euros (EUR)	2017/12/31		2018/12/31		2019/12/31
Exchange rate at period end		0.83382		0.87336		0.89015
Average exchange rate for the period		0.88704		0.84758		0.89341

Revenues

4.4	Revenues from ongoing activities under client agreements

The Group signed an agreement with Terns Pharmaceuticals on June 24, 2019. The Group’s accounting policies associated with revenue are as follows:

4.4.1.

IFRS 15

•

The transfer of control over the intellectual property, via a license granted by the Company, as it exists at the time of the sale, the date of which will determine that of the revenue recognition;

•

If the license is considered as a right of access to the intellectual property of the Company over the life of the license, the revenue would be recognized over this lifetime;

•

The supply of products whose revenues would be recognized at the time of transfer of control of the delivered products,

•

Potential revenue from milestones, or from royalties or royalties based on sales, would not be recognized until the achievement of the milestone or completion of the sale.

4.4.2

Application to the Terns Pharmaceuticals license agreement

The Company identified three performance obligations under the license agreement with Terns:

•

An exclusive license, with the right to sub-license, to develop, manufacture, distribute and promote elafibranor in NASH and PBC in Greater China;

•

A transfer to Terns Pharmaceuticals of the Company’s Licensed Know-How and data regarding elafibranor and related support until the Marketing Authorization Application by Terns Pharmaceuticals; and

•

Under the terms of the licensing agreement, the Company has received or could potentially receive:

•

Development Milestone Payments upon the achievement of the development milestones for the licensed product;

•

Commercial Milestone Payments upon the achievement of commercial milestones depending on reaching certain aggregate thresholds;

•

Mid-teen percentage Royalties based on sales by Terns Pharmaceuticals in Greater China; and

•

Compensation for the supply of drug product for the clinical trials on a cost-plus basis.

The potential Development and Commercial Milestone payments may represent up to $193 million.

Under IFRS 15, the allocation and recognition of revenue was determined as follows based on the fair value of each of the performance obligations:

•

Revenue on Supply for drug product will be recognized based on the delivery of drug product to Terns Pharmaceuticals. No amounts were recognized in 2019.

Intangible assets

4.5.	Intangible assets

Impairment of tangible assets, intangible assets and goodwill

4.6.	Property, plant and equipment

Estimated useful lives are as follows:


Building on non-freehold land		10 years
Fittings and fixtures		Between 9 and 25 years
Scientific equipment		Between 2 and 12 years
Computer equipment		Between 2 and 5 years
Furniture		Between 4 and 10 years
Vehicles		Between 4 and 6 years

Leases

4.7.

Leases

4.7.1

IFRS 16 and IAS 17

Significant accounting policies of IAS 17

Finance leases

Operating leases

Significant accounting policies under IFRS 16

4.7.2

Application of the new IFRS 16 standard

Contracts formerly classified as finance leases include, in particular, scientific equipment.

As part of the transition, the Group adopted the "modified retrospective" method and chose to apply some of the practical expedients offered by IFRS 16, namely:

•

The exclusion of contracts of less than 12 months duration;

•

Exclusion of low value contracts;

•

Carryforward of contracts previously accounted for as finance lease contracts under IAS 17 "Leases".

The new standard is implemented as follows:

•

"Right of use" assets and lease liabilities were recognized in the Group's balance sheet as at January 1, 2019 for € 9,227 and € 8,947, respectively.

In accordance with IFRS 16, the Group has chosen to present the “right of use” assets in the same line item as property, plant and equipment as the assets of the same type.

In € thousands	12/31/2018
Operating lease commitments as a lessee, as of 12/31/2018 as published	4,791
Differences related to extension options for which the exercise is reasonably certain	5,264
Differences in the amounts retained for the calculation of commitments and lease liability	(396)
Expenses not included in the lease liability but included in the commitments	(190)
Undiscounted lease liability estimated under IFRS 16 at 1/1/2019	9,469
Impact of discount	(522)
Lease liability estimated under IFRS 16 at 1/1/2019	8,947

4.8.	Impairment of tangible assets, intangible assets and goodwill

If indicators of impairment are identified, amortizable intangible assets and depreciable tangible assets are subject to an impairment test under the provisions of IAS 36, Impairment of Assets .

The Company does not have any goodwill.

Financial instruments

4.9.Financial instruments

•

Classification and measurement;

•

Impairment;

•

Hedge accounting.

As was the case in the previous periods, application of IFRS 9 does not have an impact on the Group’s financial statements.

Loans and borrowings are initially measured at fair value and subsequently recorded at amortized cost.

Inventories

4.10.

Inventories

The Company recognizes inventories of laboratory consumables in connection with its former co-research agreements.

These inventories are measured at the lower of cost and net realizable value. Cost is determined using the weighted average cost method.

Trade and other receivables

4.11.

Trade and other receivables

Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date.

Other financial assets

4.12.

Other financial assets

Loans and receivables are financial assets with fixed or determinable payments that are not listed on an active market and are valued using the amortized cost method.

4.13.

Cash and cash equivalents

Initially recognized at their purchase cost at the transaction date, investments are subsequently measured at fair value. Changes in fair value are recognized in net financial income (expenses).

Equity

4.14.

Equity

Loans and borrowings

4.15.

Loans and borrowings

Financial liabilities are initially recognized at fair value, net of directly attributable transaction costs, and are subsequently measured at amortized cost using the effective interest rate method.

The Group derecognizes financial liabilities when the contractual obligations are discharged, cancelled or expire.

Trade and other payables

4.16.

Trade and other payables

Provisions

4.17.

Provisions

The amount recognized as a provision is the best estimate at the reporting date of the expenditure required to settle the present obligation.

Provisions are discounted when the time value effect is material.

Employee benefits

4.18.

Employee benefits

The Group's pension schemes and other post-employment benefits consist of defined benefit plans and defined contribution plans.

4.18.1.

Defined benefit plans

Re-measurements of the net defined benefit liability which comprise actuarial gains and losses are recognized in the statements of other comprehensive loss.

4.18.2.

Defined contribution plans

4.18.3.

Short-term employee benefits

4.19.

Other income

4.19.1.

Government grants

Subsidies received are non-refundable. Conditional advances received are interest-free or are subject to low interest rates depending on contractual provisions.

Grants related to assets

Grants related to income

Grants related to income are intended to finance research programs.

Conditional advances related to research programs

Conditional advances that are interest-free or subject to low interest rates are intended to finance research program’s needs.

The grant portion of conditional advances is treated as a grant related to income.

4.19.2.

Research tax credit

Classification of operating expenses

4.20.

Research and development expenses

Research expenses are recorded in the financial statements as expenses (see Note 19, "Operating expense").

In accordance with IAS 38, Intangible Assets , development expenses are recognized as intangible assets only if all the following criteria are met:

•

Technical feasibility necessary for the completion of the development project;

•

Intention on the Group's part to complete the project and to utilize it;

•

Capacity to utilize the intangible asset;

•

Proof of the probability of future economic benefits associated with the asset;

•

Availability of the technical, financial, and other resources for completing the project; and

•

Reliable evaluation of the expenses attributed to the intangible asset during its development.

4.21.

Classification of operating expenses

Research and development expenses include:

•

employee-related costs;

•

costs related to external employees seconded to the Company (such as clinical development, biometrics and IT…);

•

lab supplies and facility costs;

•

donations to The NASH Epidemiology Institute endowment fund, in particular to fund the creation of patient registry;

•

fees paid to scientific advisers and contracted research and development activities conducted by third parties;

•

intellectual property fees corresponding to the filing of the Group's patents and,

•

provision in relation to the Research Tax Credit dispute (see note 24 to our financial consolidated statements )

General and administrative expenses include:

•

employee-related costs for executive, business development, intellectual property, finance, legal and human resources and communications functions;

•

facility-related costs;

•

marketing, legal, audit and accounting fees;

•

press relations and communications firm fees;

•

the cost of external employees seconded to the Company (such as security, reception, and accounting..);

•

other service costs (recruitment, etc.);

•

grants to the endowment fund, The NASH Epidemiology Institute^TM, earmarked in particular to finance the International NASH Day; and

•

intellectual property fees corresponding to the maintenance of the Group's patents.

Marketing and market access expenses include:

•

employee-related costs for marketing and business development, functions;

•

facility-related costs;

•

marketing, and market access firm fees;

•

the cost of external employees seconded to the Company (market access..) and

•

other service costs (recruitment, etc);

Earnings (loss) per share

4.22.

Share-based compensation

Share-based compensation granted to consultants consists of share warrants, some of which may be redeemed at GENFIT's discretion.

Share-based compensation granted to employees consists of redeemable share warrants, stock options and free shares.

Income tax

4.23.

Income tax

Income tax expense (or benefit) comprises current tax expense (or benefit) and deferred tax expense (or benefit), as applicable.

Deferred taxes are recognized for all the temporary differences arising from the difference between the tax basis and the accounting basis of assets and liabilities.

Deferred tax assets are recognized for unused tax losses, unused tax credits and temporary deductible differences to the extent that:

•

it is probable that future taxable profit will be available against which they can be used; or

•

if there are deferred tax liabilities for the same entity in the same tax jurisdiction on which they can be applied.

4.24.

Earnings (loss) per share

Operating segments

4.25.

Operating segments

The Board of Directors and Chief Executive Officer are the chief operating decision makers.

Major Events In The Period (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Major Events In Period [Abstract]

Schedule of Expenses Incurred and Deducted from Issue Premium by Break Down

The expenses incurred and deducted from the issue premium are broken down as follows:

Expenses related to the global offering
(in € thousands)
Registration, filling, listing fees	(290	)
Underwriting	(9,634	)
Legal fees and expenses	(1,225	)
Accounting fees and expenses	(1,045	)
Printing expenses	(160	)
TOTAL	(12,354	)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Voluntary Change In Accounting Policy [Abstract]

Summary of Functional Currency

	Year ended		Year ended		Year ended
Ratio : 1 US dollars (USD) = x euros (EUR)	2017/12/31		2018/12/31		2019/12/31
Exchange rate at period end		0.83382		0.87336		0.89015
Average exchange rate for the period		0.88704		0.84758		0.89341

Summary of Estimated Useful Lives

Estimated useful lives are as follows:


Building on non-freehold land		10 years
Fittings and fixtures		Between 9 and 25 years
Scientific equipment		Between 2 and 12 years
Computer equipment		Between 2 and 5 years
Furniture		Between 4 and 10 years
Vehicles		Between 4 and 6 years

Summary of Commitments Related to Operating and Lease Liability Estimated

In € thousands	12/31/2018
Operating lease commitments as a lessee, as of 12/31/2018 as published	4,791
Differences related to extension options for which the exercise is reasonably certain	5,264
Differences in the amounts retained for the calculation of commitments and lease liability	(396)
Expenses not included in the lease liability but included in the commitments	(190)
Undiscounted lease liability estimated under IFRS 16 at 1/1/2019	9,469
Impact of discount	(522)
Lease liability estimated under IFRS 16 at 1/1/2019	8,947

Financial Risks Management (Tables)

12 Months Ended

Dec. 31, 2019

Foreign Exchange Rates [Abstract]

Summary of Sensitivity of Cash and Cash Equivalents and Expenses to Variation of Ten Percent of the US Dollars Against the Euro

5.	FINANCIAL RISKS MANAGEMENT (Continued)

The following table shows the sensitivity of the Group's cash and cash equivalent and expenses in U.S. dollars to a variation of 10% of the U.S. dollar against the euro in 2017, 2018 and 2019:

Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10% of the US dollar against the euro	As of
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
Cash and cash equivalents denominated in US dollars		3,611		1,188		153,438
Equivalent in euros, on the basis of the exchange rate described below		3,011		1,038		136,582
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		3,345		1,153		151,758
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		2,737		944		124,166

Sensitivity of the Group's expenses to a variation of +/- 10% of the US dollar against the euro	Year ended
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
Expenses denominated in US dollars		5,993		9,613		40,355
Equivalent in euros, on the basis of the exchange rate described below		4,997		8,396		35,922
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		5,552		9,328		39,914
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		4,543		7,632		32,657

2019/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.1234 US dollar ratio
2018/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.145 US dollar ratio
2017/12/31 : Equivalent in euros, on the basis of a 1 euro = 1.1993 US dollar ratio

Summary of Cash, Cash Equivalents and Financial Assets

Cash, cash equivalents and financial assets	As of
(in € thousands or in US dollar thousands, as applicable)	2017/12/31		2018/12/31		2019/12/31
At origin, denominated in EUR
Cash and cash equivalents		270,210		206,199		139,863
Current and non current financial assets		729		1,303		1,614
Total		270,939		207,502		141,477
At origin, denominated in USD
Cash and cash equivalents		3,611		1,041		136,884
Current and non current financial assets		31		10		113
Total		3,642		1,051		136,997
Total, in EUR
Cash and cash equivalents		273,820		207,240		276,748
Current and non current financial assets		760		1,313		1,727
Total		274,581		208,553		278,474

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2019

Cash And Cash Equivalents [Abstract]

Summary of Cash and Cash Equivalents

These investments, summarized in the tables below, are short-term, highly liquid and subject to insignificant risk of changes in value.

Cash and cash equivalents	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Short-term deposits		244,279		201,522		263,147
Cash on hand and bank accounts		29,541		5,718		13,601
TOTAL		273,820		207,240		276,748

Short-term deposits	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
UCITS		38,052		29,189		3,096
TERM ACCOUNTS		138,967		124,316		215,018
NEGOTIABLE MEDIUM-TERM NOTES		4,150		—		—
INTEREST-BEARING CURRENT ACCOUNT		63,110		48,017		45,033
TOTAL		244,279		201,522		263,147

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Intangible Assets [Abstract]

Schedule of Variations in Intangible Assets

The following tables show the variations in intangible assets for the years ended December 31, 2017, 2018 and 2019:

	As of									As of
Intangible assets—Variations	January 1,									December 31,
(in thousands of euros)	2017			Increase			Decrease			2017
Gross
Software		1,688			268			(56	)		1,900
Patents		21			—			—			21
TOTAL – Gross		1,709			268			(56	)		1,921
Accumulated depreciation and impairment
Software		(1,020	)		(298	)		54			(1,264	)
Patents		(21	)		—			—			(21	)
TOTAL - Accumulated depreciation and impairment		(1,042	)		(298	)		54			(1,285	)
TOTAL – Net		668			(29	)		(2	)		636

	As of									As of
Intangible assets—Variations	January 1,									December 31,
(in thousands of euros)	2018			Increase			Decrease			2018
Gross
Software		1,900			216			(67	)		2,049
Patents		21			—			—			21
Other intangibles		—			313			—			313
TOTAL—Gross		1,921			529			(67	)		2,384
Accumulated depreciation and impairment
Software		(1,264	)		(370	)		67			(1,567	)
Patents		(21	)		—			—			(21	)
Other intangibles		—			—			—			—
TOTAL - Accumulated depreciation and impairment		(1,285	)		(370	)		67			(1,588	)
TOTAL – Net		636			159			—			796

7.	INTANGIBLE ASSETS (continued)

Intangible assets – Variations	As of									Translation					As of
(in € thousands)	2018/12/31			Increase			Decrease			adjustments		Reclassification			2019/12/31
Gross
Software		2,049			340			(29	)		—		378			2,739
Patents		21			70			—			—		—			91
Other intangibles		313			65			—			—		(378	)		—
TOTAL – Gross		2,384			475			(29	)		—		—			2,830
Accumulated depreciation and impairment
Software		(1,567	)		(350	)		29			—		—			(1,888	)
Patents		(21	)		—			—			—		—			(21	)
Other intangibles		—			—			—			—		—			—
TOTAL - Accumulated depreciation and impairment		(1,588	)		(350	)		29			—		—			(1,910	)
TOTAL – Net		796			125			—			—		—			920

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Property Plant And Equipment [Abstract]

Summary of Variations in Tangible Assets

The following tables show the variations in tangible assets for the years ended December 31, 2017,2018 and 2019:

Property, plant & equipment—Variations (in thousands of euros)	As of January 1, 2017			Increase			Decrease			Reclassification			As of December 31, 2017
Gross
Buildings on non-freehold land		—			11			—			—			11
Scientific equipment		6,078			3,546			(49	)		—			9,576
Fittings		988			138			—			—			1,126
Vehicles		82			61			(44	)		—			99
Computer equipment		1,475			211			(12	)		281			1,954
Furniture		317			40			—			—			357
In progress		—			281						(281	)		—
TOTAL - Gross		8,940			4,287			(105	)		—			13,123
Accumulated depreciation and impairment
Scientific equipment		(4,438	)		(673	)		48			—			(5,063	)
Fittings		(657	)		(65	)		—			—			(722	)
Vehicles		(29	)		(17	)		22			—			(24	)
Computer equipment		(530	)		(184	)		11			—			(703	)
Furniture		(276	)		(9	)		—			—			(285	)
In progress		—			—			—			—			—
TOTAL - Depreciation and impairment		(5,930	)		(949	)		81			—			(6,798	)
TOTAL - Net		3,010			3,338			(24	)		—			6,324

8.	PROPERTY, PLANT AND EQUIPMENT (continued)

Property, plant and equipment—Variations (in thousands of euros)	As of January 1, 2018			Increase			Decrease			Reclassification			As of December 31, 2018
Gross
Buildings on non-freehold land		11			—			—			1,447			1,458
Scientific equipment		9,576			1,484			(235	)		54			10,879
Fittings		1,126			443			(43	)		5			1,531
Vehicles		99			—			—			—			99
Computer equipment		1,954			200			(5	)		(702	)		1,446
Furniture		357			8			(4	)		—			361
In progress		—			805			—			(804	)		—
TOTAL - Gross		13,123			2,939			(288	)		—			15,774
Accumulated depreciation and impairment
Buildings on non-freehold land		—			(1	)		—			—			(1	)
Scientific equipment		(5,063	)		(1,142	)		218			—			(5,988	)
Fittings		(722	)		(91	)		43			—			(769	)
Vehicles		(24	)		(21	)		0			—			(45	)
Computer equipment		(703	)		(216	)		4			—			(915	)
Furniture		(285	)		(11	)		4			—			(292	)
In progress		—			—			—			—			—
TOTAL - Depreciation and impairment		(6,798	)		(1,481	)	270				—			(8,010	)
TOTAL - Net		6,324			1,459			(18	)		—			7,764

8.	PROPERTY, PLANT AND EQUIPMENT (continued)

Property, plant and equipment - Variations	As of									Translation					As of
(in € thousands)	2018/12/31			Increase			Decrease			adjustments		Reclassification			2019/12/31
Gross
Buildings on non-freehold land		1,458			12,218			—			—		(1,447	)		12,229
Scientific equipment		10,879			556			(120	)		—		(54	)		11,260
Fittings		1,531			66			—			—		(5	)		1,592
Vehicles		99			—			—			—		—			99
Computer equipment		1,446			227			(15	)		—		11			1,669
Furniture		361			31			(3	)		—		—			389
In progress		0			241			(1,737	)		—		1,496			—
TOTAL - Gross		15,774			13,339			(1,875	)		—		—			27,238
Accumulated depreciation and impairment
Buildings on non-freehold land		(1	)		(1,215	)		—			—		—			(1,216	)
Scientific equipment		(5,988	)		(1,303	)		119			—		—			(7,172	)
Fittings		(769	)		(105	)		—			—		—			(875	)
Vehicles		(45	)		(21	)		—			—		—			(66	)
Computer equipment		(915	)		(252	)		12			—		—			(1,155	)
Furniture		(292	)		(13	)		3			—		—			(303	)
In progress		—			—			—			—		—			—
TOTAL - Depreciation and impairment		(8,010	)		(2,909	)		133			—		—			(10,785	)
TOTAL - Net		7,764			10,429			(1,741	)		—		—			16,453

Trade and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Trade And Other Receivables [Abstract]

Summary of Trade and Other Receivables

Trade and other receivables consisted of the following:

Trade and other receivables - Total	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		61		25			207
Research tax credit		8,466		8,785			9,585
Social security costs receivables		3		10			5
VAT receivables		994		1,103			1,814
Grants receivables		13		(0	)		3
Other receivables		340		361			420
TOTAL		9,876		10,284			12,033

Trade and other receivables - Current	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		61		25			207
Research tax credit		6,545		7,295			9,585
Social security costs receivables		3		10			5
VAT receivables		994		1,103			1,814
Grants receivables		13		(1	)		3
Other receivables		340		361			420
TOTAL		7,955		8,794			12,033

Trade and other receivables - Non-current	As of December 31,
(in € thousands)	2017/12/31		2018/12/31			2019/12/31
Trade receivables, net		—		—			—
Research tax credit		1,921		1,489			—
Social security costs receivables		—		—			—
VAT receivables		—		—			—
Grants receivables		—		—			—
Other receivables		—		—			—
TOTAL		1,921		1,489			—

Other Financial Assets (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Other Financial Assets [Abstract]

Summary of Other Financial Assets

Other financial assets consisted of the following:

Financial assets - Total	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		219			259		307
Loan related security deposit		—			—		—
Deposits and guarantees		274			284		396
Liquidity contract		267			770		1,023
TOTAL		760			1,313		1,727

Financial assets - Current	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		—			—		—
Loan related security deposit		0			—		—
Deposits and guarantees		31			—		—
Liquidity contract		—			—		—
TOTAL		31			—		—

Financial assets - Non current	As of
(in € thousands)	2017/12/31			2018/12/31		2019/12/31
Financial investments		—			—		—
Loans		219			259		307
Loan related security deposit		(0	)		—		(0	)
Deposits and guarantees		243			284		396
Liquidity contract		267			770		1,023
TOTAL		729			1,313		1,727

Loans and Borrowings (Tables)

12 Months Ended

Dec. 31, 2019

Borrowing Costs [Abstract]

Summary of Other Loans and Borrowings

Other loans and borrowings consisted of the following:

Other loans and borrowings - Total	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		3,407		3,229		3,229
Bank loans		3,488		3,964		2,645
Development loans with participation feature				—		—
Renewable credit facility		—		—		—
Obligations under leases		1,890		1,900		12,281
Accrued interests		3		3		1
Other financial loans and borrowings		24		7		7
Bank overdrafts		—		—		—
TOTAL		8,812		9,104		18,165

Other loans and borrowings - Current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		178		—		—
Bank loans		1,209		1,319		1,105
Development loans with participation feature		—		—		—
Renewable credit facility		—		—		—
Obligations under leases		420		520		2,112
Accrued interests		3		3		1
Other financial loans and borrowings		24		7		7
Bank overdrafts		—		—		—
TOTAL		1,834		1,848		3,226

Other loans and borrowings - Non current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Refundable and conditional advances		3,229		3,229		3,229
Bank loans		2,279		2,645		1,540
Development loans with participation feature		—		—		—
Renewable credit facility		—		—		—
Obligations under leases		1,469		1,381		10,169
Accrued interests		—		—		—
Other financial loans and borrowings		—		—		—
Bank overdrafts		—		—		—
TOTAL		6,978		7,255		14,939

Summary of Refundable and Conditional Advances

The following table summarizes advances outstanding at December 31, 2019, 2018 and 2017

Total

Net book

Refundable and conditional advances - general overview

Grant

amount

Effects of

value

(in € thousands)

date

allocated

Receipts

Repayments

discounting

12/31/2019

BPI FRANCE - IT-DIAB

12/23/2008

3,229

—

3,229

Development of a global strategy for the prevention and management of type 2 diabetes

TOTAL

3,229

Net book

Total

value as of

Refundable and conditional advances—general overview

amount

Effects of

December 31,

(in thousands of euros)

Grant date

allocated

Receipts

Repayments

discounting

2018

BPI FRANCE—IT-DIAB

12/23/2008

3,229

—

3,229

Development of a global strategy for the prevention and management of type 2 diabetes

TOTAL

3,229

12.	LOANS AND BORROWINGS (continued)

												Net book
Refundable and conditional		Total										value as of
advances—general overview		amount							Effects of			December 31,
(in € thousands)	Grant date	allocated		Receipts		Repayments			discounting			2017
BPI FRANCE—IT-DIAB	12/23/2008		3,229		3,229	—			—				3,229
Development of a global strategy for the prevention and management of type 2 diabetes
BPI FRANCE—ADVANCE N°1—OLNORME II—1	11/24/2010	250		200			(134	)		(2	)	64
BPI FRANCE—ADVANCE N°2—OLNORME II—2	11/24/2010	250		200			(134	)		(2	)	64
BPI FRANCE—ADVANCE N°3—OLNORME II—3	11/24/2010	200		160			(108	)		(2	)	51
Research of pharmaceutical entities in plant extracts for the treatment of inflammatory diseases
TOTAL													3,407

Summary of Bank Loans

Bank loans are primarily used to finance research and laboratory equipment. Bank loans consisted of the following as of December 31, 2017:

							Available			Outstanding
							as of			as of
Bank loans	Loan	Facility		Interest			December 31,			December 31,
(in € thousands)	date	size		rate			2017		Installments	2017
CIC 5	July 2017		1,000		0.69	%		500	60 monthly		451
CDN 4	June 2017	600			0.36	%	—		48 monthly	525
BNP 4	April 2017	800			0.87	%	800		60 monthly	—
CIC 4	December 2016	264.6			0.69	%	—		60 monthly	217
BNP 3	October 2016		1,050		0.80	%	—		20 quarterly	945
NEUFLIZE 2	June 2016	500			1.10	%	—		12 quarterly	252
BNP 2	June 2016	500			0.80	%	—		20 quarterly	377
CDN 3	April 2016	500			0.72	%	—		60 monthly	335
CIC 3	March 2015	500			0.85	%	—		16 quarterly	158
BNP	December 2014	500			2.00	%	—		20 quarterly	205
Other										23
TOTAL											3,488

Bank loans consisted of the following as of December 31, 2018:

							Available			Outstanding
Bank loans	Loan	Facility		Interest			As of			As of
(in € thousands)	date	size		rate			2018/12/31		Installments	2018/12/31
CDN 5	November 2018		500		0.46	%		—	48 monthly		490
CIC 5	July 2017	1000			0.69	%	0		60 monthly		753
CDN 4	June 2017	600			0.36	%	0		48 monthly		376
BNP 4	April 2017	800			0.87	%	0		60 monthly		695
CIC 4	December 2016		265		0.69	%		—	60 monthly		164
BNP 3	October 2016	1050			0.80	%	0		20 quarterly		735
NEUFLIZE 2	June 2016	500			1.10	%	0		12 quarterly		84
BNP 2	June 2016	500			0.80	%	0		20 quarterly		277
CDN 3	April 2016		500		0.72	%		—	60 monthly		236
CIC 3	March 2015	500			0.85	%	0		16 quarterly		32
BNP	December 2014	500			2.00	%	0		20 quarterly		103
Other											19
TOTAL											3,964

12.	LOANS AND BORROWINGS (continued)

Bank loans consisted of the following as of December 31, 2019:

							Available			Outstanding
Bank loans	Loan	Facility		Interest			As of			As of
(in € thousands)	date	size		rate			2019/12/31		Installments	2019/12/31
CDN 5	November 2018		500		0.46	%		—	48 monthly		365
CIC 5	July 2017	1000			0.69	%	0		60 monthly		554
CDN 4	June 2017	600			0.36	%	0		48 monthly		226
BNP 4	April 2017	800			0.87	%	0		60 monthly		537
CIC 4	December 2016		265		0.69	%		—	60 monthly		111
BNP 3	October 2016	1050			0.80	%	0		20 quarterly		525
NEUFLIZE 2	June 2016	500			1.10	%	0		12 quarterly		0
BNP 2	June 2016	500			0.80	%	0		20 quarterly		177
CDN 3	April 2016		500		0.72	%		—	60 monthly		135
CIC 3	March 2015	500			0.85	%	0		16 quarterly		0
BNP	December 2014	500			2.00	%	0		20 quarterly		0
Other											14
TOTAL											2,645

Summary of Maturities of Financial Liabilities

Maturity of financial liabilities	As of		Less than		Less than		Less than		Less than		Less than		More than
(in € thousands)	2019/12/31		1 year		2 years		3 years		4 years		5 years		5 years
BPI FRANCE - IT-DIAB		3,229		—		—		—		—		—		3,229
TOTAL - Refundable and conditional advances		3,229		—		—		—		—		—		3,229
Convertible loans		165,454		1,312		—		164,142		—		—		—
Bank loans		2,645		1,105		942		544		54		—		—
Development loans with participation feature		—		—		—		—		—		—		—
Renewable credit facility		—		—		—		—		—		—		—
Leases		12,281		2,112		2,118		1,575		1,151		1,103		4,223
Accrued interests		1		1		—		—		—		—		—
Other financial loans and borrowings		7		7		—		—		—		—		—
Bank overdrafts		—		—		—		—		—		—		—
TOTAL - Other loans and borrowings		180,390		4,539		3,060		166,260		1,205		1,103		4,223
TOTAL		183,619		4,539		3,060		166,260		1,205		1,103		7,452

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Financial Instruments [Abstract]

Summary of Financial Assets And Liabilities Carrying Values By Category And Fair Values

The following tables provide the financial assets and liabilities carrying values by category and fair values as of December 31, 2017, 2018 and 2019:

	As of December 31, 2017
	Carrying value							Fair value
(in thousands of euros)	As per statement of financial position		Assets at fair value through profit & loss		Loans & receivables	Debt at amortized cost		Level 1		Level 2		Level 3
Assets
Loans	219		—		219	—		—		219		—
Deposits and guarantees	274		—		274	—		—		274		—
Trade receivables	61		—		61	—		—		61		—
Cash and cash equivalents		273,820		273,820	—	—			273,820	—		—
TOTAL—Assets		274,375		273,820	555	—			273,820	555		—
Liabilities
Conditional advances		3,407	—		—		3,407	—		—			3,407
Convertible loans		155,868	—		—		155,868	—			155,868	—
Bank loans		3,488	—		—		3,488	—			3,488	—
Obligations under finance leases		1,890	—		—		1,890	—			1,890	—
Accrued interests	3		—		—	3		—		3		—
Other financial loans and borrowings	24		—		—	24		—		24		—
Trade payables		19,053	—		—		19,053	—			19,053	—
Other payables	34		—		—	34		—		34		—
TOTAL—Liabilities		183,766	—		—		183,766	—			180,359		3,407

13.	FAIR VALUE OF FINANCIAL INSTRUMENTS (continued)

	As of December 31, 2018
	Carrying value								Fair value
	As per		Assets at
	statement of		fair value
	financial		through		Loans and		Debt at
(in € thousands)	position		profit and loss		receivables		amortized cost		Level 1		Level 2		Level 3
Assets
Financial investments		—		—						—
Loans		259				259						259
Loan related security deposit		—				—						—
Deposits and guarantees		284				284						284
Trade receivables		25				25						25
Cash and cash equivalents		207,240		207,240						207,240
TOTAL - Assets		207,808		207,240		568		—		207,240		568		—
Liabilities		—
Conditional advances		3,229						3,229						3,229
Convertible loans		160,489						160,489				160,489
Bank loans		3,964						3,964				3,964
Participating development loan		—						—				—
Renewable credit facility		—						—				—
Obligations under finance leases		1,900						1,900				1,900
Accrued interests		3						3				3
Other financial loans and borrowings		7						7				7
Bank overdrafts		—						—				—
Trade payables		32,649						32,649				32,649
Other payables		71						71				71
TOTAL - Liabilities		202,313		—		—		202,313		—		199,084		3,229

13.	FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

	As of December 31, 2019
	Carrying value								Fair value
	As per		Assets at
	statement of		fair value
	financial		through		Loans and		Debt at
(in € thousands)	position		profit and loss		receivables		amortized cost		Level 1		Level 2		Level 3
Assets
Financial investments		—		—						—
Loans		307				307						307
Loan related security deposit		—				—						—
Deposits and guarantees		396				396						396
Trade receivables		207				207						207
Cash and cash equivalents		276,748		276,748						276,748
TOTAL - Assets		277,658		276,748		911		—		276,748		911		—
Liabilities		—
Conditional advances		3,229						3,229						3,229
Convertible loans		165,454						165,454				165,454
Bank loans		2,645						2,645				2,645
Participating development loan		—						—				—
Renewable credit facility		—						—				—
Obligations under finance leases		12,281						12,281				12,281
Accrued interests		1						1				1
Other financial loans and borrowings		7						7				7
Bank overdrafts		—						—				—
Trade payables		32,753						32,753				32,753
Other payables		527						527				527
TOTAL - Liabilities		216,898		—		—		216,898		—		213,669		3,229

Trade and Other Payables (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Trade And Other Payables [Abstract]

Schedule of Trade and Other Payables

Trade and other payables consisted of the following:

Trade and other payables - Total	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		19,053		32,649		32,753
Social security costs payables		4,217		2,949		3,581
Employee profit sharing		17		17		17
VAT payables		19		1		2
Taxes payables		241		286		487
Other payables		34		71		527
TOTAL		23,580		35,974		37,368

Trade and other payables - Current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		19,053		32,649		32,753
Social security costs payables		4,217		2,949		3,581
Employee profit sharing		17		17		17
VAT payables		19		1		2
Taxes payables		241		286		487
Other payables		34		71		76
TOTAL		23,580		35,974		36,917

Trade and other payables - Non current	As of
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
Trade payables		—		—		—
Social security costs payables		—		—		—
Employee profit sharing		—		—		—
VAT payables		—		—		—
Taxes payables		—		—		—
Other payables		—		−−		450
TOTAL		—				450

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Information About Defined Benefit Plans [Abstract]

Summary of Assumptions Used for Employees for the Measurement of Retirement Indemnity to Employees

As part of the measurement of the retirement indemnity to employees, the following assumptions were used for all categories of employees:

Population	Permanent staff
Retirement age		65
Terms of retirement	Initiated by the employee
Life expectancy	On the basis of the INSEE table
Probability of continued presence in the company at retirement age	On the basis of the DARES table

(1)	INSEE is the French National Institute of Statistics; DARES is the French Bureau of Studies and Statistics

Rate	As of
(in € thousands)	2017/12/31	2018/12/31			2019/12/31
Salary growth rate - in 2020	5.8%		5.80	%		5.80	%
Salary growth rate - beyond	3.0%		3.00	%		3.00	%
Discount rate	1.5%		1.53	%		0.75	%

Summary of Changes in Present Value of Defined Benefit Obligation

The following table presents the changes in the present value of the defined benefit obligation:

Changes in the present value of the defined benefit obligation
(in € thousands)
Defined benefit obligation as of January 1, 2017	849
Current service cost	76
Interest cost on benefit obligation	13
Actuarial losses on obligation	210
Past service costs	(211	)
Defined benefit obligation as of December 31, 2017	936
Current service cost	104
Interest cost on benefit obligation	14
Actuarial losses on obligation	31
Past service costs	—
Defined benefit obligation as of December 31, 2018	1,085
Current service cost	138
Interest cost on benefit obligation	17
Actuarial losses / (gains) on obligation	168
Past service costs	—
Defined benefit obligation as of December 31, 2019	1,408

Summary of Sensitivity of the Retirement and Post-Employment Benefits to a Variation of the Discount Rate

	Retirement and post-employment benefits
in thousands of euros	Changes in assumptions/discount rate	Impact/present value of the undertaking
	+0.25%	-51
	-0.25%	53

Other Income (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Other Income [Abstract]

Schedule of Other Income

Other income consisted of the following:

Other income	Year ended
(in € thousands)	2017/12/31		2018/12/31		2019/12/31
CIR tax credit		6,545		7,295		8,125
Other operating income (including CICE tax credit )-		171		130		1,992
Government grants and subsidies		21		—		5
TOTAL		6,737		7,425		10,122

Operating Expense (Tables)

12 Months Ended

Dec. 31, 2019

Operating Expense [Abstract]

Summary of Operating Expenses and Other Operating Income

							Contracted
							research &												Gain /
Operating expenses and other operating				Raw			development activities						Other expenses			Depreciation,			(loss) on disposal of
income (expenses) (in thousands of	Year ended			materials& consumables			conducted by third			Employee			(maintenance, fees, travel,			amortization & impairment			plant & property,
euros)	2017/12/31			used			parties			expenses			taxes)			charges			equipment
Research and development expenses		(54,189	)		(2,117	)		(35,088	)		(7,915	)		(7,973	)		(1,095	)		—
General and administrative expenses		(9,421	)		(112	)		(7	)		(5,491	)		(3,374	)		(437	)		—
Other operating income (expenses)	60			—			—			—				68		—				(8	)
TOTAL		(63,550	)		(2,229	)		(35,095	)		(13,406	)		(11,280	)		(1,532	)		(8	)

	Of which:
							Contracted												Gain /
				Raw			research and						Other			Depreciation,			(loss) on
				materials			development						expenses			amortization			disposal of
				and			activities						(maintenance,			and			property,
Operating expenses and other operating income (expenses)	Year ended			consumables			conducted by			Employee			fees, travel,			impairment			plant and
(in € thousands)	2018/12/31			used			third parties			expenses			taxes…)			charges			equipment
Research and development expenses		(67,024	)		(1,724	)		(47,659	)		(9,431	)		(6,502	)		(1,707	)		—
General and administrative expenses		(9,076	)		(126	)		(2	)		(3,778	)		(5,451	)		283			—
Marketing and market access expenses		(717	)		(4	)		—			(416	)		(287	)		(11	)		—
Other operating income and (expenses)		(162	)		—			—			—			(164	)		—			2
TOTAL		(76,979	)		(1,855	)		(47,662	)		(13,625	)		(12,403	)		(1,435	)		2

	Of which:
							Contracted												Gain /
				Raw			research and						Other			Depreciation,			(loss) on
				materials			development						expenses			amortization			disposal of
				and			activities						(maintenance,			and			property,
Operating expenses and other operating income (expenses)	Year ended			consumables			conducted by			Employee			fees, travel,			impairment			plant and
(in € thousands)	2019/12/31			used			third parties			expenses			taxes…)			charges			equipment
Research and development expenses		(66,170	)		(2,017	)		(41,509	)		(11,740	)		(6,188	)		(4,716	)		—
General and administrative expenses		(17,265	)		(177	)		(59	)		(7,598	)		(8,972	)		(458	)		—
Marketing and market access expenses		(13,708	)		(8	)		(0	)		(1,645	)		(11,979	)		(76	)		—
Other operating income (expenses)		(1,649	)		—			—			—			(1,668	)		—			19
TOTAL		(98,793	)		(2,202	)		(41,568	)		(20,984	)		(28,807	)		(5,251	)		19

Summary of Employee Expenses and Number of Employees

Employee expenses and number of employees were as follows:

Employee expenses	Year ended
(in € thousands)	2017/12/31			2018/12/31			2019/12/31
Wages and salaries		(9,267	)		(9,012	)		(14,018	)
Social security costs		(3,996	)		(3,722	)		(5,171	)
Changes in pension provision		135			(104	)		(138	)
Individual training entitlement		—			—			—
Share-based compensation		(278	)		(787	)		(1,657	)
TOTAL		(13,406	)		(13,625	)		(20,984	)

	Year ended
Number of employees at year-end - detail	2017/12/31		2018/12/31		2019/12/31
Average number of employees		123		135		175
Average age of employees	38 years 4 months		38 years 11 months		37 years 1 month
Number of employees
Research and development		77		84		108
Services related to research and development		15		16		19
Administration and management		33		48		60
Marketing and commercial		—		—		7
TOTAL		125		148		194
Number of employees
Senior staff		92		115		144
Staff		29		30		45
Others (apprentices)		4		3		5
TOTAL		125		148		194
Number of employees
Male		45		57		78
Female		80		91		116
TOTAL		125		148		194

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Share-based Compensation Under Each Plan According to Change in Estimate

The table below shows the share-based compensation under each plan according to the change in estimate mentioned above .

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2014-A		—		—		—		945		—
Of which : expense related to non-executive officers		—		—		—		365		—
Of which : expense related to consultants		—		—		—		581		—
BSA 2014-B		—		—		—		1,045		—
Of which : expense related to non-executive officers		—		—		—		365		—
Of which : expense related to consultants		—		—		—		680		—
BSAAR 2014-A		—		—		—		43		—
Of which : expense related to non-executive officers		—		—		—		9		—
Of which : expense related to consultants		—		—		—		34		—
BSAAR 2014-B		—		—		—		191		0
Of which : expense related to non-executive officers		—		—		—		35		0
Of which : expense related to consultants		—		—		—		156		—
BSAAR 2014-C		—		—		—		189		0
Of which : expense related to non-executive officers		—		—		—		35		—
Of which : expense related to consultants		—		—		—		154		0

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2015-A		—		—		—		335		—
Of which : expense related to non-executive officers		—		—		—		178		—
Of which : expense related to consultants		—		—		—		157		—
BSA 2015-B		—		—		—		315		—
Of which : expense related to non-executive officers		—		—		—		178		—
Of which : expense related to consultants		—		—		—		138		—

	Year ended							Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31			calculated		remaining
BSAAR 2016-A		—		—		—			—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		—			—		—
BSAAR 2016-B		—		—		—			—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		—			—		—
AGA D 2016-1		38		127		—			166		0
Of which : expense related to executive officers		7		25		—			32		0
Of which : expense related to employees		31		101		—			133		0
AGA D 2016-2		17		17		39			74		—
Of which : expense related to executive officers		3		3		8			14		—
Of which : expense related to employees		14		14		31			59		—
AGA S 2016-1		44		151		—			197		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		44		151		—			197		—
AGA S 2016-2		22		22		44			88		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		22		22		44			88		—
SO 2016-1		83		83		213			383		—
Of which : expense related to executive officers		13		13		36			63		—
Of which : expense related to employees		70		70		176			319		—
SO 2016-2		38		38		93			170		—
Of which : expense related to executive officers		6		6		16			28		—
Of which : expense related to employees		32		32		77			142		—
SO US 2016-1		12		12		(24	)		—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		12		12		(24	)		—		—
SO US 2016-2		5		5		(11	)		—		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		5		5		(11	)		—		—

	Year ended							Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31			calculated		remaining
BSA 2017-A		6		63		—			69		—
Of which : expense related to non-executive officers		4		43		—			47		—
Of which : expense related to employees		2		20		—			22		—
BSA 2017-B		3		66		—			70		0
Of which : expense related to non-executive officers		2		46		—			48		0
Of which : expense related to employees		1		21		—			22		0
AGA D 2017-1		1		17		199			217		—
Of which : expense related to executive officers		0		2		28			30		—
Of which : expense related to employees		1		15		171			187		—
AGA D 2017-2		2		29		56			131		44
Of which : expense related to executive officers		0		3		8			18		6
Of which : expense related to employees		2		26		48			113		37
AGA S 2017-1		—		—		209			209		—
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		—		—		209			209		—
AGA S 2017-2		2		24		45			104		34
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		2		24		45			104		34
SO 2017-1		2		28		27			61		4
Of which : expense related to executive officers		0		5		5			11		1
Of which : expense related to employees		2		23		22			50		4
SO 2017-2		3		48		2			81		28
Of which : expense related to executive officers		1		8		0			15		5
Of which : expense related to employees		3		39		2			66		23
SO US 2017-1		0		3		(4	)		—		0
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		0		3		(4	)		—		0
SO US 2017-2		0		5		(6	)		—		0
Of which : expense related to executive officers		—		—		—			—		—
Of which : expense related to employees		0		5		(6	)		—		0

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
AGA D 2018		—		10		135		277		132
Of which : expense related to executive officers		—		2		21		43		21
Of which : expense related to employees		—		9		114		234		111
AGA S 2018		—		12		148		305		145
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		12		148		305		145
SO 2018		—		24		285		849		539
Of which : expense related to executive officers		—		3		40		118		75
Of which : expense related to employees		—		21		245		730		464
SO US 2018		—		3		25		76		48
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		3		25		76		48

	Year ended						Total expense		Total expense
Share-based compensation - Annual expense	2017/12/31		2018/12/31		2019/12/31		calculated		remaining
BSA 2019		—		—		7		26		20
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		7		26		20
AGA D 2019		—		—		35		242		207
Of which : expense related to executive officers		—		—		5		38		33
Of which : expense related to employees		—		—		29		204		175
AGA S 2019		—		—		41		288		246
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		41		288		246
SO 2019		—		—		86		599		513
Of which : expense related to executive officers		—		—		10		68		58
Of which : expense related to employees		—		—		76		531		455
SO US 2019		—		—		1		43		42
Of which : expense related to executive officers		—		—		—		—		—
Of which : expense related to employees		—		—		1		43		42

Year ended

Total

expense

Total

expense

Share-based compensation - Annual expense

2017/12/31

2018/12/31

2019/12/31

calculated

remaining

TOTAL

278

787

1,645

7,787

2,004

Share Warrants

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Key Terms and Conditions of Share-Based Compensation Based

The key terms and conditions related to each program are detailed in the following tables:

Share-base compensation	2019	2017		2015		2014
Share warrants ( BSA )
		BSA 2017-A	BSA 2017-B	BSA 2015-A	BSA 2015-B	BSA 2014-A	BSA 2014-B

Date of the Shareholders meeting	06/15/2018	06/16/2017		04/02/2014		04/02/2014
Date of the Management Board meeting				01/09/2015		07/24/2014
Date of the decision and delegation of the Board of Directors to the CEO	10/18/2019	11/21/2017
Date of the CEO decision	10/31/2019	12/06/2017
Beneficiaries	Consultants	Consultants and officers		Consultants and officers		Consultants and officers
Total number of BSAAR subscribed	35,070	18,345	18,345	12,860	12,860	46,765	46,765
Total number of BSAAR voided	0	0	0	12,860	12,860	46,765	46,765
Total number of BSAAR remaining	35,070	18,345	18,345	0	0	0	0
Issue Price	€1.23	€2.00		€0.01		€0.01
Excercise price	€12.32	€19.97		€35.95		€23.50
Estimated fair value - according to IFRS 2	€0.75	€3.78	€3.81	€25.33 /€26.89	€25.33 /€26.31	€15.61 /€24.84	€15.61 /€24.85
End of exercise period	05/31/2024	06/30/2022	07/15/2022	05/31/2019	11/30/2019	09/30/2018	02/28/2019
Valuation method used	Black & Scholes
Expected dividends	0%	0%		0%		0%
Expected volatility	40.0%	36.4%	35.7%	74.9%		74.9%
Risk-free interest rate	0%	0.0%		0.4%		0.4%
Expected life	0.7 years	6 years		4 years		4 years

Redeemable Warrants

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Key Terms and Conditions of Share-Based Compensation Based

Share-Based compensation	2 016	2 014
Redeemable share subscription warrants ( BSAAR )	BSAAR 2016-A and B	BSAAR 2014-A - B and C
	Employees	Employees and Officers

Date of the Shareholders' meeting	02/24/2015	04/02/2014
Date of the Management Board Meeting	07/22/2016	09/16/2014
Date of the decision and delegation of the Board of Directors to the CEO
Date of the CEO decision
Total number of BSAAR subscribed	10,800	62,717
Total number of BSAAR voided	0	61,484
Total number of BSAAR exercised	0	1,233
Total number of BSAAR remaining	10,800	0
Issue Price	€23.5	€23.5
Exercise period	From 01/01/2018 to 27/07/2020	voided on 09.2018 - 05.2019 and 07.2019
Estimated fair value - valued by expert opinion	€4.60	from €8.44 to €11.29
Valuation method used	Black & Scholes	Black & Scholes
Expected dividends	0%	0%
Expected volatility	75.4%	75.4%
Risk-free interest rate	0.0%	0.4%
Expected life	4 years	4 years

Free Shares

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Key Terms and Conditions of Share-Based Compensation Based

The key terms and conditions related to each program are detailed in the following tables:


Share-based compensation	2 019				2 019					2 018		2 017		2 016
Free shares (AGA)	AGA D				AGA S
	Officers(1)		Employees		Officers(1)		Employees		AGA D and S		AGA D and S 2017-1 and 2017-2		AGA D and S 2016-1 and 2016-2

Date of the Shareholders meeting	06/15/2018								06/15/2018		06/16/2017		06/21/2016
Date of the Management Board meeting													12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO	07/18/2019								11/07/2018		11/22/2017
Date of the Executive Board Meeting	07/18/2019								11/22/2018		12/06/2017
Total number of AGA subscribed		3,000		16,070		0		17,556		35,800		41,196		30,709
Total number of AGA voided		0		450		0		702		1,872		9,846		5,429
Total number of AGA definitively vested		0		0		0		0		0		19,403		25,280
Total number of AGA remaining		3,000		15,620		0		16,854		33,928		11,947		0
Acquisition period	From 07/18/2019 to 09/16/2022								From 11/22/2018 to 12/31/2020		From 12/06/2017 to 12/31/2020		From 12/15/2016 to 12/15/2019
Valuation method used	Monte Carlo
Price of the share at the time of allocation	€17.06								€	20.02	€	21.95	€	20.78
Expected dividends	0%								0%		0%		0%
Expected volatility	40.16%								38.0%		53.7%		63.0%
Risk-free interest rate	0.0%								0.0%		0.0%		0.0%
Turnover rate	0.00%								15.00%		15.00%		15.00%
(1) : Chairman and CEO
The terms and conditions of the 2016 to 2018 allocations to the Chairman and CEO are provided in the Universal Registration Document or the financial statements for the relevant periods.
(1) : Chief executive officer

Stock Options

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Key Terms and Conditions of Share-Based Compensation Based

The key terms and conditions related to each program are detailed in the following tables:


Share-based compensation	2 019				2 018		2 017		2 016
Stock-options (SO)	SO		SO US 1	SO US 2	SO 2018	SO US 2018	SO 1 et 2 2017	SO US 2017	SO 1 et 2 2016	SO US 2016
	Officers(1)	Employees	Employees	Employees	Employees and Offices	Employees	Employees and Offices	Employees	Employees and Offices	Employees

Date of the Shareholders meeting	06/15/2018			11/27/2019	06/15/2018		06/16/2017		06/21/2016
Date of the Management Board meeting									12/15/2016
Date of the decision and delegation of the Board of Directors to the CEO	07/18/2019			11/27/2019	11/07/2018		11/21/2017
Date of the CEO decision	07/18/2019			11/27/2019	11/07/2018		12/06/2017
Total number of SO subscribed	15,130	92,750	30,620	13,350	122,000	17,500	96,250	13,000	62,875	10,500
Total number of SO voided	0	1,780	0	0	2,000	3,000	21,577	13,000	13,169	10,500
Total number of SO definitively vested	0	0	0	0	0	0	0	0	49,706	0
Total number of SO remaining	15,130	90,970	30,620	13,350	120,000	14,500	74,673	0	0	0
Excercise price	€13.99		€16.9	€14.31	€16.00	€21.65	€17.91	€22.54	€15.79	€21.12
Vesting period	From 07/18/2019 to 09/16/2022			From 11/27/2019 to 01/16/2023	From 11/07/2018 to 12/31/2021		From 12/06/2017 to 12/31/2020		From 12/15/2016 to 12/15/2019
Exercise period	From 09/17/2022 to 09/17/2029			From 01/17/2023 to 01/17/2030	From 01/01/2022 to 12/31/2028		From 01/01/2021to 12/31/2027		From 12/16/2019 to 12/16/2026
Fair value	€4.59		€3.67	€3.23	€9.32	€6.9	€9.32		€10.3	€8.52
Valuation method used	Monte Carlo
Price of the share at the time of allocation	€17.06			€14.5	€22.12		€21.95		€20.79
Expected dividends	0%			0%	0%		0%		0%
Expected volatility	40.16%			40.0%	44.07%		53.7%		63.0%
Risk-free interest rate	0.0%			0.0%	0.0%		0.0%		0.0%
Turnover rate	0.00%			0.00%	15.00%		15.00%		15.00%

Performance Conditions

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Key Terms and Conditions of Share-Based Compensation Based

The other free share plans (AGA "S") are subject only to internal performance conditions.

20.5.1.

Performance conditions of the 2019 plans


Plans	Evaluation date for performance conditions	Nature of internal conditions
SO 2019 SO US 2019 AGA D 2019	07/31/2022	66 2/3% of the instruments will be exercisable or definitively vested, and 100% of the free shares for the AGA S 2019 will be vested, regardless of the variation of the stock market price of the Company’s shares, if at least one of the three following conditions is fulfilled: (i) if a marketing authorization is granted or an application for marketing authorization is examined: • by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) for elafibranor for NASH; or: • by the U.S. Food and Drug Administration (FDA)/the competent European authorities in the field of IVD for NIS4 for NASH; or: (ii) if at least two of the four clinical trial among the following trials have delivered their principal results or are ongoing: • Phase III clinical trials for elafibranor for PBC; or • clinical trial evaluating elafibranor’s efficacy in NASH pediatric patients; or • Phase IIb clinical trial or clinical trial aimed at registration for NTZ in fibrosis; or • Clinical trial evaluating elafibranor or NTZ in combination therapy for NASH or for hepatic fibrosis; or: (iii) if at least a new licensing agreement, on one or another of Genfit’s products in one or several territories, is entered into by the Company.
		Nature of external conditions
		33 1/3 % of the instruments will be exercisable or definitively vested, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated
SO US 2019-2	01/09/2023	Nature of internal conditions
		66 2/3 % of the instruments will be exercisable if at least if at least one of the three following conditions is fulfilled: (i) if elafibranor has been granted marketing authorization by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) in NASH or PBC or NIS4 has been authorized by FDA or received CE marking from the EMA; (ii) a licensing agreement pertaining to elafibranor or NTZ has been signed for the U.S. market and/or for at least two of the five major European markets (Germany, France, Italy, United Kingdom, Spain) and/or Japan; (iii) at least two clinical trials for drug registration are underway. Nature of external conditions
		33 1/3 % of the instruments will be exercisable, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated.
		Nature of internal conditions
AGA S 2019	07/31/2022	The free shares will definitively vest upon the same internal performance conditions as the SO 2019, SO US 2019 and AGA D 2019 plans

Financial Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Financial Income And Expenses [Abstract]

Summary of Financial Income and Expenses

Financial income and expenses	Year ended
(in € thousands)	2017/12/31			2018/12/31			2019/12/31
	(*)				(*)
Financial income
Interest income		389			202			2,626
Foreign exchange gain		59			101			2,272
Other financial income		195			425			324
TOTAL - Financial income		642			728			5,221
Financial expenses
Interest expenses		(2,309	)		(10,955	)		(11,289	)
Interest expenses for leases		(10	)		(21	)		(148	)
Foreign exchange losses		(764	)		(127	)		(1,657	)
Other financial expenses		(13	)		(14	)		(17	)
TOTAL - Financial expenses		(3,096	)		(11,118	)		(13,110	)
FINANCIAL GAIN (LOSS)		(2,453	)		(10,391	)		(7,889	)

Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Summary of Earnings (Loss) Per Share

The components of the earnings (loss) per share computation are as follows:

Basic loss per share is equal to diluted loss per share.

	Year ended
	2017			2018/12/31			2019/12/31
Earnings per share	(*)				(*)
Profit (loss) for the period (in € thousands)		(55,728	)		(79,521	)		(65,144	)
Weighted average number of ordinary shares for the period		31,166,437			31,167,203			36,987,982
Profit (loss) per share (in €)		(1.79	)		(2.55	)		(1.76	)
Weighted average number of ordinary shares used in the above calculation		31,166,437			31,167,203			36,987,982

Compensation of Corporate Officers (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Of Corporate Officers [Abstract]

Summary of Compensation Paid to Officers

Compensation paid to the Chairman and Chief Executive Officer	Year ended
in 2017 and 2018 and during the period from January 1, 2019 to September 16, 2019	2017/12/31		2018/12/31		2019/12/31 (1)
Short-term employee benefits (gross + employer's social contributions, paid)		1,476		1,569		1,338
Post-employment pension & medical benefits		199		—		—
Attendance fees				—		—
Share-based payment transactions		51		104		109
Director fees Genfit Corp (net)		37		30		22
TOTAL		1,763		1,703		1,469

Compensation paid to the Chief Executive Officer	Year ended
in 2018 and during the period from September 16, 2019 to December 31, 2019	2017/12/31		2018/12/31		2019/12/31
Short-term employee benefits (gross + employer's social contributions, paid)		—		—		140
Post-employment pension & medical benefits		—		—		—
Attendance fees		—		—		—
Share-based payment transactions		—		—		—
Director fees Genfit Corp (net)		—		—		—
TOTAL		—		—		140

Schedule of Director's Fees and Other Compensation Due and Paid to Non Executive Directors

26.	COMPENSATION OF CORPORATE OFFICERS (continued)

The directors' fees and other compensation due and paid to the non executive directors are as follows:

	Amounts due*		Amounts paid*		Amounts due*		Amounts paid*		Amounts due*		Amounts paid*
	During the year ended December 31,
Attendance fees and other forms of remuneration payable to each of the non executive officer (in euros)	2017(4)				2018				2019
Jean-François MOUNEY(1)
Attendance fees		—		—		—		—		14,791		633
Other remuneration (except his compensation as CEO between January 1, and September 16, 2019)(5)		—		—		—		—		88,874		88,874
Total		—		—		—		—		103,665		89,507
Xavier GUILLE DES BUTTES
Attendance fees		30,218		24,688		53,330		41,311		68,016		67,580
Other remuneration		—		—		—		—		—		—
Total		30,218		24,688		53,330		41,311		68,016		67,580
Charles WOLER(2)
Attendance fees		5,925		5,925		—		—		—		—
Other remuneration		—		—		—		—		—		—
Total		5,925		5,925		—		—		—		—
Frédéric DESDOUITS
Attendance fees		13,627		11,258		21,174		17,113		33,136		30,302
Other remuneration		—		—		—		—		—		—
Total		13,627		11,258		21,174		17,113		33,136		30,302
BIOTECH AVENIR
Represented by Florence Séjourné
Attendance fees		—		—		—		—		—		—
Other remuneration		—		—		—		—		—		—
Total		—		—		—		—		—		—
Philippe MOONS
Attendance fees		18,763		14,023		29,704		22,345		36,188		41,202
Other remuneration		—		—		—		—		—		—
Total		18,763		14,023		29,704		22,345		36,188		41,202
Anne-Hélène MONSELLATO(3)
Attendance fees		14,813		10,468		37,075		24,307		44,472		53,410
Other remuneration		—		—		—		—		—		—
Total		14,813		10,468		37,075		24,307		44,472		53,410
Catherine LARUE(3)
Attendance fees		11,258		8,098		21,256		17,985		33,136		28,122
Other remuneration		—		—		—		—		—		—
Total		11,258		8,098		21,256		17,985		33,136		28,122
TOTAL		94,602		74,458		162,539		123,061		318,613		310,123

26.	COMPENSATION OF CORPORATE OFFICERS (continued)

		2017(4)		2018		2018
IFRS 2 valuation of share warrants granted during the financial year		94,875		—		—

*	After applying a required 21% withholding

(1)	Jean-François MOUNEY joined the Board of Directors on June 16, 2017 as Chairman.

(2)	Since the Shareholders' Meeting on June 16, 2017, Charles WOLER is no longer a board member.

(3)	Anne-Hélène MONSELLATO and Catherine LARUE were appointed to the Board of Directors by the shareholders at the June 16, 2017 Shareholders' Meeting.

(4)	The remuneration received by Xavier GUILLE DES BUTTES, Frédéric DESDOUITS, Biotech Avenir and Philippe MOONS until June 16, 2017 was in their capacities as members of the Supervisory Board.

(5)	The attendance fees and other remuneration for Jean-François Mouney above correspond to amounts due for the period from September 16, 2019 to December 31, 2019.

Major Events in the Period - Additional Information (Details)				1 Months Ended	9 Months Ended	12 Months Ended			24 Months Ended
	Jul. 03, 2019 USD ($)	Mar. 29, 2019 EUR (€) € / shares shares	Mar. 29, 2019 USD ($) $ / shares shares	May 31, 2018	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 USD ($) EUR (€)	Dec. 31, 2018 EUR (€)	Dec. 31, 2019 EUR (€)	Mar. 26, 2019 USD ($)	Dec. 31, 2017 EUR (€)
Disclosure Of Major Events In Period [Line Items]
exchange rate					0.89015	0.89015	0.89015	0.87336	0.89015	0.88566	0.83382
Total expenses related to share issuance \| €					€ 12,354,000			€ 1,200,000	€ 12,300,000
Upfront payment received \| $	$ 35,000,000						$ 35,000,000
Clinical, regulatory and commercial milestone payments \| $							$ 193,000,000
Lessee operating lease term of contract						9 years	9 years
Lessee operating lease renewal term				10 years
Construction Costs \| €						€ 2,500,000
American Depositary Shares
Disclosure Of Major Events In Period [Line Items]
Public offering price per share \| $ / shares			$ 20.32
American Depositary Shares \| Global Offering
Disclosure Of Major Events In Period [Line Items]
Number of shares issued		997,500	997,500
Aggregate proceeds before deducting underwriting discounts commissions and offering expenses		€ 137,600,000	$ 155,400,000
American Depositary Shares \| Ordinary Shares
Disclosure Of Major Events In Period [Line Items]
Number of shares issued		7,147,500	7,147,500
European Private Placement \| Ordinary Shares
Disclosure Of Major Events In Period [Line Items]
Number of shares issued		500,000	500,000
Public offering price per share \| € / shares		€ 18.00

Major Events in the Period - Schedule of Expenses Incurred and Deducted from Issue Premium by Break Down (Details) - EUR (€) € in Thousands	9 Months Ended	12 Months Ended	24 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Disclosure Of Major Events In Period [Abstract]
Registration, filling, listing fees	€ (290)
Underwriting	(9,634)
Legal fees and expenses	(1,225)
Accounting fees and expenses	(1,045)
Printing expenses	(160)
TOTAL	€ (12,354)	€ (1,200)	€ (12,300)

Summary of Significant Accounting Policies - Summary of Applicable Exchange Rates Used to Translate Financial Statements (Details)	12 Months Ended
	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 EUR (€) USD ($)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 EUR (€) USD ($)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 EUR (€) USD ($)	Mar. 26, 2019 USD ($)
Foreign Exchange Rates [Abstract]
Exchange rate at period end	0.89015	0.89015	0.87336	0.87336	0.83382	0.83382	0.88566
Average exchange rate for the period	0.89341	11,234	0.84758	1,145	0.88704	11,993

Summary of Significant Accounting Policies - Additional Information (Details) € in Thousands, $ in Millions		12 Months Ended
	Jul. 03, 2019 USD ($)	Dec. 31, 2019 USD ($) Segment	Jan. 01, 2019 EUR (€)	Dec. 31, 2018 EUR (€)
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Non-refundable upfront payment		$ 35.0
Clinical, regulatory and commercial milestone payments		193.0
Upfront payment received	$ 35.0	35.0
Revenue from upfront upfront payment		34.9
Deferred upfront payment		$ 0.1
Weighted average incremental borrowing rate		1.26%
Right of use assets \| €			€ 9,227
Right of use lease liabilities \| €			€ 8,947	€ 4,791
Number of segment \| Segment		1
Software and License Agreements \| Bottom of Range
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Estimated useful lives of software and license agreements		1 year
Software and License Agreements \| Top of Range
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Estimated useful lives of software and license agreements		8 years

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2019
Building on Non-Freehold Land
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	10 years
Fittings and Fixtures \| Bottom of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	9 years
Fittings and Fixtures \| Top of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	25 years
Scientific Equipment \| Bottom of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	2 years
Scientific Equipment \| Top of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	12 years
Computer Equipment \| Bottom of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	2 years
Computer Equipment \| Top of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	5 years
Furniture \| Bottom of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	4 years
Furniture \| Top of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	10 years
Vehicles \| Bottom of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	4 years
Vehicles \| Top of Range
Disclosure Of Intangible Assets With Indefinite Useful Life [Line Items]
Estimated useful lives for property, plant and equipment	6 years

Summary of Significant Accounting Policies - Summary of Commitments Related to Operating and Lease Liability Estimated (Details) - EUR (€) € in Thousands	Jan. 01, 2019	Dec. 31, 2018
Disclosure Of Voluntary Change In Accounting Policy [Abstract]
Right of use lease liabilities	€ 8,947	€ 4,791
Differences related to extension options for which the exercise is reasonably certain		5,264
Differences in the amounts retained for the calculation of commitments and lease liability		(396)
Expenses not included in the lease liability but included in the commitments		€ (190)
Undiscounted lease liability estimated under IFRS 16 at 1/1/2019	9,469
Impact of discount	€ (522)

Financial Risks Management - Sensitivity of Group's Cash and Cash Equivalents and Expenses to Variation 10% of US Dollar against Euro (Details)

12 Months Ended

Dec. 31, 2019

EUR (€)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

EUR (€)

Dec. 31, 2018

USD ($)

Dec. 31, 2017

EUR (€)

Dec. 31, 2017

USD ($)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Euros equivalent to US dollar

€ 276,748,000

€ 207,240,000

^[1]

€ 273,820,000

^[1]

0.89341

11,234

0.84758

1,145

0.88704

11,993

10% Increase Decrease in US Dollar vs Euro

10% Increase of US Dollar vs Euro

€ 136,582,000

€ 1,038,000

€ 3,011,000

$ 153,438,000

$ 1,188,000

$ 3,611,000

Expenses

35,922,000

$ 40,355,000

8,396,000

$ 9,613,000

4,997,000

$ 5,993,000

10% Decrease of US Dollar vs Euro

151,758,000

1,153,000

3,345,000

Expenses

39,914,000

9,328,000

5,552,000

Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]

124,166,000

944,000

2,737,000

Expenses

€ 32,657,000

€ 7,632,000

€ 4,543,000

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Financial Risks Management - Summary of Cash, Cash Equivalents and Financial Assets (Details)
€ in Thousands, $ in Thousands

Dec. 31, 2019

EUR (€)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

EUR (€)

Dec. 31, 2018

USD ($)

Dec. 31, 2017

EUR (€)

Dec. 31, 2017

USD ($)

Current and non current financial assets

€ 276,748

€ 207,240

^[1]

€ 273,820

^[1]

1,727

1,313

760

Total

278,474

208,553

274,581

Denominated in EUR

Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]

Current and non current financial assets

139,863

206,199

270,210

1,614

1,303

729

Total

€ 141,477

€ 207,502

€ 270,939

Denominated in USD

Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]

Cash and cash equivalents | $

$ 136,884

$ 1,041

$ 3,611

Current and non current financial assets | $

113

Total | $

$ 136,997

$ 1,051

$ 3,642

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

Financial Risks Management - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Foreign Exchange Rates [Line Items]
Cash and cash equivalents and other financial assets	€ 278,474	€ 208,553	€ 274,581
Interest Rate Risk
Foreign Exchange Rates [Line Items]
Financial liabilities	€ 183,617	€ 169,593	€ 164,680

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + Details

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Cash on hand and bank accounts

€ 263,147

€ 201,522

€ 244,279

13,601

5,718

29,541

276,748

207,240

^[1]

273,820

^[1]

UCITS

3,096

29,189

38,052

TERM ACCOUNTS

NEGOTIABLE MEDIUM-TERM NOTES

215,018

124,316

138,967

INTEREST-BEARING CURRENT ACCOUNT

4,150

€ 45,033

€ 48,017

€ 63,110

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Intangible Assets - Schedule of Variations in Intangible Assets (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

€ 796

^[1]

€ 636

^[1]

€ 668

125

159

(29)

(2)

920

796

^[1]

636

^[1]

Gross

2,384

1,921

1,709

475

529

268

(29)

(67)

(56)

2,830

2,384

1,921

Gross | Software

2,049

1,900

1,688

340

216

268

(29)

(67)

(56)

378

2,739

2,049

1,900

Gross | Patents

Gross | Other Intangibles

Accumulated Depreciation and Impairment

313

313

(378)

313

(1,588)

(1,285)

(1,042)

(350)

(370)

(298)

Accumulated Depreciation and Impairment | Software

(1,910)

(1,588)

(1,285)

(1,567)

(1,264)

(1,020)

(350)

(370)

(298)

Accumulated Depreciation and Impairment | Patents

(1,888)

(1,567)

(1,264)

(21)

Disclosure Of Property Plant And Equipment [Line Items]

€ (21)

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Property, Plant and Equipment - Summary of Variations in Tangible Assets (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

€ 7,764

^[1]

€ 6,324

^[1]

€ 3,010

10,429

1,459

3,338

(1,741)

(18)

(24)

Disclosure Of Property Plant And Equipment [Line Items]

16,453

7,764

^[1]

6,324

^[1]

Gross

15,774

13,123

8,940

13,339

2,939

4,287

(1,875)

(288)

(105)

Gross | Buildings on Non-freehold Land

27,238

15,774

13,123

Disclosure Of Property Plant And Equipment [Line Items]

1,458

12,218

(1,447)

1,447

Gross | Scientific Equipment

12,229

1,458

Disclosure Of Property Plant And Equipment [Line Items]

10,879

9,576

6,078

556

1,484

3,546

(120)

(235)

(49)

(54)

Gross | Fittings and Fixtures

11,260

10,879

9,576

Disclosure Of Property Plant And Equipment [Line Items]

1,531

1,126

988

443

138

(43)

(5)

Disclosure Of Property Plant And Equipment [Line Items]

1,592

1,531

1,126

Gross | Vehicles

(44)

Gross | Computer Equipment

Disclosure Of Property Plant And Equipment [Line Items]

1,446

1,954

1,475

227

200

211

(15)

(5)

(12)

(702)

281

Disclosure Of Property Plant And Equipment [Line Items]

1,669

1,446

1,954

Gross | Furniture

361

357

317

(3)

(4)

Disclosure Of Property Plant And Equipment [Line Items]

389

361

357

Gross | In progress

241

805

281

(1,737)

1,496

(804)

(281)

Accumulated Depreciation and Impairment

Disclosure Of Property Plant And Equipment [Line Items]

(8,010)

(6,798)

(5,930)

(2,909)

(1,481)

(949)

133

270

Accumulated Depreciation and Impairment | Buildings on Non-freehold Land

(10,785)

(8,010)

(6,798)

Disclosure Of Property Plant And Equipment [Line Items]

(1)

(1,215)

(1)

Accumulated Depreciation and Impairment | Scientific Equipment

(1,216)

(1)

Disclosure Of Property Plant And Equipment [Line Items]

(5,988)

(5,063)

(4,438)

(1,303)

(1,142)

(673)

119

218

Accumulated Depreciation and Impairment | Fittings and Fixtures

(7,172)

(5,988)

(5,063)

Disclosure Of Property Plant And Equipment [Line Items]

(769)

(722)

(657)

(105)

(91)

(65)

Accumulated Depreciation and Impairment | Vehicles

(875)

(769)

(722)

Disclosure Of Property Plant And Equipment [Line Items]

(45)

(24)

(29)

(21)

(17)

Accumulated Depreciation and Impairment | Computer Equipment

(66)

(45)

(24)

Disclosure Of Property Plant And Equipment [Line Items]

(915)

(703)

(530)

(252)

(216)

(184)

Accumulated Depreciation and Impairment | Furniture

(1,155)

(915)

(703)

Disclosure Of Property Plant And Equipment [Line Items]

(292)

(285)

(276)

(13)

(11)

(9)

Disclosure Of Property Plant And Equipment [Line Items]

€ (303)

€ (292)

€ (285)

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Property, Plant and Equipment - Additional Information (Details)
€ in Thousands

12 Months Ended

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

May 31, 2020

EUR (€)

Jan. 01, 2019

EUR (€)

Dec. 31, 2017

EUR (€)

Dec. 31, 2016

EUR (€)

Reimbursement of construction cost

€ 16,453

€ 7,764

^[1]

€ 6,324

^[1]

€ 3,010

2,500

Cost incurred

2,500

Equipment in progress

1,400

Additional cost incurred

1,300

Construction cost incurred

2,500

Leasehold improvements

€ 300

Amortized leasehold improvements

10 years

Right of use assets

€ 9,227

Lease liabilities

€ 4,791

8,947

Major purchases of assets [member]

Disclosure Of Property Plant And Equipment [Line Items]

Right of use assets

€ 2,200

Lease liabilities

€ 2,200

IFRS 16

Disclosure Of Property Plant And Equipment [Line Items]

Right of use assets

7,800

Lease liabilities

€ 7,800

Scientific Equipment

Disclosure Of Property Plant And Equipment [Line Items]

Depreciation, right-of-use assets

4,346

2,933

Building on Non-Freehold Land

Disclosure Of Property Plant And Equipment [Line Items]

Depreciation, right-of-use assets

11,974

1,196

Assets Under Finance Lease Contracts | Scientific Equipment

Disclosure Of Property Plant And Equipment [Line Items]

Trade And Other Receivables [Abstract]

€ 1,413

€ 1,889

€ 1,895

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Trade and Other Receivables - Summary of Trade and Other Receivables (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Trade receivables, net

€ 207

€ 25

€ 61

Research tax credit

9,585

8,785

8,466

Social security costs receivables

VAT receivables

1,814

1,103

994

Grants receivables

Other receivables

420

361

340

Social security costs receivables

12,033

10,284

9,876

Trade receivables, net

207

Research tax credit

9,585

7,295

6,545

VAT receivables

1,814

1,103

994

Grants receivables

(1)

Other receivables

420

361

340

€ 12,033

8,794

^[1]

7,955

^[1]

Research tax credit

1,489

1,921

Disclosure Of Other Financial Assets [Abstract]

^[1]

€ 1,489

€ 1,921

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Trade and Other Receivables - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2014	Jun. 30, 2019	Dec. 31, 2017
Trade And Other Receivables [Line Items]
Research tax credit	€ 9,585	€ 8,785				€ 8,466
Partial payment of assessment due to ongoing tax audit	(333)
Due amount of research tax credit			€ (447)	€ (1,140)
Litigation settlement amount	432	29
Credit notes from suppliers	408	€ 235				€ 174
French Tax Authorities
Trade And Other Receivables [Line Items]
Research tax credit	€ 8,125
Research Tax Credit
Trade And Other Receivables [Line Items]
Provision for tax liability					€ 1,892
Tax allocation					€ 1,785

Other Financial Assets - Summary of Other Financial Assets (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Loans

€ 307

€ 259

€ 219

Deposits and guarantees

396

284

274

Liquidity contract

1,023

770

267

Other financial assets

1,727

1,313

760

Loan related security deposit

Deposits and guarantees

Other current financial assets

^[1]

Loans

307

259

219

Loan related security deposit

Deposits and guarantees

396

284

243

Other non-current financial assets

€ 1,727

€ 1,313

^[1]

€ 729

^[1]

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Other Financial Assets - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Other Financial Assets [Abstract]
Liquidity account, cash balance	€ 1,023	€ 770	€ 267
Number of shares recorded as deduction from equity	18,132	27,911
Additional contribution to liquidity agreement		€ 1,000

Other Assets - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Miscellaneous Assets [Abstract]
Other assets	€ 1,968	€ 2,078	€ 1,761

Loans and Borrowings - Additional Information (Details)

1 Months Ended

12 Months Ended

Oct. 16, 2017

EUR (€)

DebtInstrument

€ / shares

Dec. 31, 2014

EUR (€)

Jun. 30, 2010

EUR (€)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

Dec. 31, 2017

EUR (€)

Dec. 23, 2008

EUR (€)

Disclosure Of Detailed Information About Borrowings [Line Items]

€ 18,165,000

€ 9,104,000

€ 8,812,000

Amount for development agreement with participating feature

14,939,000

7,255,000

^[1]

6,978,000

^[1]

66,170,000

67,024,000

^[2]

54,189,000

^[2]

Convertible Loans

Disclosure Of Detailed Information About Borrowings [Line Items]

Convertible bond, yearly interest

6,300,000

Convertible loan nominal amount

€ 180,000,000

Group

Disclosure Of Detailed Information About Borrowings [Line Items]

Disclosure Of Detailed Information About Borrowings [Line Items]

183,000

166,000

BPI FRANCE - IT-DIAB

Discounted rate

5.19%

BPI FRANCE - IT-DIAB | Conditional

Disclosure Of Detailed Information About Borrowings [Line Items]

Advances received

€ 3,229,000

BPI FRANCE - IT-DIAB | Non-repayable

Disclosure Of Detailed Information About Borrowings [Line Items]

Government grants

€ 3,947,000

BPI FRANCE - ADVANCE N°1 - OLNORME II - 1

Disclosure Of Detailed Information About Borrowings [Line Items]

BPI FRANCE - ADVANCE N°1 - OLNORME II - 1 | Technical and/or Commercial Success

(134,000)

Reimbursed advances

66,000

Disclosure Of Detailed Information About Borrowings [Line Items]

Percentage of non-interest bearing advances repayable to nominal amount

100.00%

BPI FRANCE - ADVANCE N°2 - OLNORME II - 2

Disclosure Of Detailed Information About Borrowings [Line Items]

Percentage of non-interest bearing advances repayable to nominal amount

(134,000)

100.00%

Reimbursed advances

66,000

BPI FRANCE - ADVANCE N°3 - OLNORME II - 3

Disclosure Of Detailed Information About Borrowings [Line Items]

Percentage of non-interest bearing advances repayable to nominal amount

(108,000)

100.00%

Reimbursed advances

52,000

BPI France | Development Agreement with Participation Feature

Disclosure Of Detailed Information About Borrowings [Line Items]

Amount for development agreement with participating feature

€ 2,300,000

Period allocated for development agreement with participation feature

7 years

Percentage of interest rate to be paid for development agreement

4.46%

Additional remuneration description

Additional remuneration amounts percentage

0.2294%

Loan repayment maturity

June 2017

BPI France | Development Agreement with Participation Feature | First Two Years

Disclosure Of Detailed Information About Borrowings [Line Items]

Repayment of principal

€ 0

OCEANEs

Disclosure Of Detailed Information About Borrowings [Line Items]

Number of debt instruments issued | DebtInstrument

6,081,081

Nominal unit value per bond

29.60

Aggregate nominal amount

€ 180,000,000

180,000,000

Exchange or conversion premium

30.00%

Reference share price | € / shares

€ 22.77

Interest rate

7.20%

Debt maturity date

October 16, 2022

Trading period

20 days

Redemption prior to maturity terms

Redemption prior to maturity is at the option of the Company from November 6, 2020 if the arithmetic volume-weighted average price of the Company's share price and the then-prevailing conversion ratio (over a 20-day trading period) exceeds 150% of the nominal value of the OCEANEs.

€ 165,454,000

160,489,000

155,868,000

Liability, current

1,312,000

1,329,000

Dilutive effect of the convertible bonds expressed as a percentage of share capital

€ 164,142,000

€ 159,176,000

€ 154,539,000

15.60%

OCEANEs | Annual Nominal Interest Rate

Disclosure Of Detailed Information About Borrowings [Line Items]

Interest rate

3.50%

Conditional Advances | BPI FRANCE - IT-DIAB | Additional Payments

Disclosure Of Detailed Information About Borrowings [Line Items]

Maximum amount to be paid if any further amounts to be paid as conditional advance

€ 14,800,000

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7

Loans and Borrowings - Summary of Other Loans and Borrowings (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Disclosure Of Detailed Information About Borrowings [Line Items]

€ 18,165

€ 9,104

€ 8,812

3,226

1,848

^[1]

1,834

^[1]

Refundable and Conditional advances

14,939

7,255

^[1]

6,978

^[1]

Disclosure Of Detailed Information About Borrowings [Line Items]

3,229

3,407

178

Disclosure Of Detailed Information About Borrowings [Line Items]

3,229

Bank Loans

2,645

3,964

3,488

1,105

1,319

1,209

Disclosure Of Detailed Information About Borrowings [Line Items]

1,540

2,645

2,279

Obligations Under Leases

12,281

1,900

1,890

2,112

520

420

Disclosure Of Detailed Information About Borrowings [Line Items]

10,169

1,381

1,469

Accrued Interests

Other Financial Loans and Borrowings

Disclosure Of Detailed Information About Borrowings [Line Items]

Social security costs payables

€ 7

€ 24

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Loans and Borrowings - Summary of Refundable and Conditional Advances (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Detailed Information About Borrowings [Line Items]
Refundable and conditional advances, Net book value	€ 3,229	€ 3,229	€ 3,407
BPI FRANCE - IT-DIAB
Disclosure Of Detailed Information About Borrowings [Line Items]
Refundable and conditional advances, Grant date	Dec. 23, 2008	Dec. 23, 2008	Dec. 23, 2008
Refundable and conditional advances, Total amount allocated	€ 3,229	€ 3,229	€ 3,229
Refundable and conditional advances, Receipts	3,229	3,229	3,229
Refundable and conditional advances, Net book value	€ 3,229	€ 3,229	€ 3,229
BPI FRANCE - ADVANCE N°1 - OLNORME II - 1
Disclosure Of Detailed Information About Borrowings [Line Items]
Refundable and conditional advances, Grant date			Nov. 24, 2010
Refundable and conditional advances, Total amount allocated			€ 250
Refundable and conditional advances, Receipts			200
Refundable and conditional advances, Repayments			(134)
Refundable and conditional advances, Effects of discounting			(2)
Refundable and conditional advances, Net book value			€ 64
BPI FRANCE - ADVANCE N°2 - OLNORME II - 2
Disclosure Of Detailed Information About Borrowings [Line Items]
Refundable and conditional advances, Grant date			Nov. 24, 2010
Refundable and conditional advances, Total amount allocated			€ 250
Refundable and conditional advances, Receipts			200
Refundable and conditional advances, Repayments			(134)
Refundable and conditional advances, Effects of discounting			(2)
Refundable and conditional advances, Net book value			€ 64
BPI FRANCE - ADVANCE N°3 - OLNORME II - 3
Disclosure Of Detailed Information About Borrowings [Line Items]
Refundable and conditional advances, Grant date			Nov. 24, 2010
Refundable and conditional advances, Total amount allocated			€ 200
Refundable and conditional advances, Receipts			160
Refundable and conditional advances, Repayments			(108)
Refundable and conditional advances, Effects of discounting			(2)
Refundable and conditional advances, Net book value			€ 51

Loans and Borrowings - Summary of Bank Loans (Details) € in Thousands	12 Months Ended
	Dec. 31, 2019 EUR (€) Facility Size	Dec. 31, 2018 EUR (€) Facility Size	Dec. 31, 2017 EUR (€) Facility Size
Disclosure Of Detailed Information About Borrowings [Line Items]
Liability	€ 18,165	€ 9,104	€ 8,812
Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Liability	2,645	3,964	3,488
Bank Loan Outstanding	€ 2,645	€ 3,964
Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Bank Loan Outstanding			€ 3,488
CDN 4 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	June 2017	June 2017
Facility Size \| Facility Size	600	600
Interest rate	0.36%	0.36%
Liability	€ 0	€ 0
Installments	48 monthly	48 monthly
Bank Loan Outstanding	€ 226	€ 376
CDN 4 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			June 2017
Facility Size \| Facility Size			600
Interest rate			0.36%
Installments			48 monthly
Bank Loan Outstanding			€ 525
CDN 3 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	April 2016	April 2016
Facility Size \| Facility Size	500	500
Interest rate	0.72%	0.72%
Installments	60 monthly	60 monthly
Bank Loan Outstanding	€ 135	€ 236
CDN 3 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			April 2016
Facility Size \| Facility Size			500
Interest rate			0.72%
Installments			60 monthly
Bank Loan Outstanding			€ 335
CIC 5 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	July 2017	July 2017
Facility Size \| Facility Size	1,000	1,000
Interest rate	0.69%	0.69%
Liability	€ 0	€ 0
Installments	60 monthly	60 monthly
Bank Loan Outstanding	€ 554	€ 753
CIC 5 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			July 2017
Facility Size \| Facility Size			1,000
Interest rate			0.69%
Liability			€ 500
Installments			60 monthly
Bank Loan Outstanding			€ 451
CIC 4 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	December 2016	December 2016
Facility Size \| Facility Size	265	265
Interest rate	0.69%	0.69%
Installments	60 monthly	60 monthly
Bank Loan Outstanding	€ 111	€ 164
CIC 4 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			December 2016
Interest rate			0.69%
Installments			60 monthly
Bank Loan Outstanding			€ 217
CIC 3 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	March 2015	March 2015
Facility Size \| Facility Size	500	500
Interest rate	0.85%	0.85%
Liability	€ 0	€ 0
Installments	16 quarterly	16 quarterly
Bank Loan Outstanding	€ 0	€ 32
CIC 3 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			March 2015
Facility Size \| Facility Size			500
Interest rate			0.85%
Installments			16 quarterly
Bank Loan Outstanding			€ 158
BNP 3 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	October 2016	October 2016
Facility Size \| Facility Size	1,050	1,050
Interest rate	0.80%	0.80%
Liability	€ 0	€ 0
Installments	20 quarterly	20 quarterly
Bank Loan Outstanding	€ 525	€ 735
BNP 3 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			October 2016
Facility Size \| Facility Size			1,050
Interest rate			0.80%
Installments			20 quarterly
Bank Loan Outstanding			€ 945
Other \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Bank Loan Outstanding	€ 14	€ 19
Other \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Bank Loan Outstanding			€ 23
BNP 2 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	June 2016	June 2016
Facility Size \| Facility Size	500	500
Interest rate	0.80%	0.80%
Liability	€ 0	€ 0
Installments	20 quarterly	20 quarterly
Bank Loan Outstanding	€ 177	€ 277
BNP 2 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			June 2016
Facility Size \| Facility Size			500
Interest rate			0.80%
Installments			20 quarterly
Bank Loan Outstanding			€ 377
BNP \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	December 2014	December 2014
Facility Size \| Facility Size	500	500
Interest rate	2.00%	2.00%
Liability	€ 0	€ 0
Installments	20 quarterly	20 quarterly
Bank Loan Outstanding	€ 0	€ 103
BNP \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			December 2014
Facility Size \| Facility Size			500
Interest rate			2.00%
Installments			20 quarterly
Bank Loan Outstanding			€ 205
BNP 4 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	April 2017	April 2017
Facility Size \| Facility Size	800	800
Interest rate	0.87%	0.87%
Liability	€ 0	€ 0
Installments	60 monthly	60 monthly
Bank Loan Outstanding	€ 537	€ 695
BNP 4 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			April 2017
Facility Size \| Facility Size			800
Interest rate			0.87%
Liability			€ 800
Installments			60 monthly
NEUFLIZE 2 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	June 2016
Facility Size \| Facility Size	500
Interest rate	1.10%
Liability	€ 0
Installments	12 quarterly
Bank Loan Outstanding	€ 0
NEUFLIZE 2 \| Bank Loans \| Research and Laboratory Equipment
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date			June 2016
Facility Size \| Facility Size			500
Interest rate			1.10%
Installments			12 quarterly
Bank Loan Outstanding			€ 252
CDN 5 \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date	November 2018	November 2018
Facility Size \| Facility Size	500	500
Interest rate	0.46%	0.46%
Installments	48 monthly	48 monthly
Bank Loan Outstanding	€ 365	€ 490
NEUFLIZE \| Bank Loans
Disclosure Of Detailed Information About Borrowings [Line Items]
Debt maturity date		June 2016
Facility Size \| Facility Size		500
Interest rate		1.10%
Liability		€ 0
Installments		12 quarterly
Bank Loan Outstanding		€ 84

Fair Value of Financial Instruments - Summary of Financial Assets And Liabilities Carrying Values By Category And Fair Values (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	€ 1,727	€ 1,313	€ 760
Level 1 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	276,748	207,240	273,820
Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	911	568	555
Fair value	213,669	199,084	180,359
Level 3 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	3,229	3,229	3,407
Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	277,658	207,808	274,375
Carrying value of Assets at fair value through profit and loss	276,748	207,240	273,820
Carrying value loans and receivables	911	568	555
Financial liabilities	216,898	202,313	183,766
Aggregate nominal amount	216,898	202,313	183,766
Loans \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	307	259	219
Loans \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	307	259	219
Carrying value loans and receivables	307	259	219
Deposits and guarantees \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	396	284	274
Deposits and guarantees \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	396	284	274
Carrying value loans and receivables	396	284	274
Trade receivables \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	207	25	61
Trade receivables \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	207	25	61
Carrying value loans and receivables	207	25	61
Cash and cash equivalents \| Level 1 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	276,748	207,240	273,820
Cash and cash equivalents \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Carrying value as per statement of financial position	276,748	207,240	273,820
Carrying value of Assets at fair value through profit and loss	276,748	207,240	273,820
Conditional Advances \| Level 3 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	3,229	3,229	3,407
Conditional Advances \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	3,229	3,229	3,407
Aggregate nominal amount	3,229	3,229	3,407
Convertible Loans \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	165,454	160,489	155,868
Convertible Loans \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	165,454	160,489	155,868
Aggregate nominal amount	165,454	160,489	155,868
Bank Loans \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	2,645	3,964	3,488
Bank Loans \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	2,645	3,964	3,488
Aggregate nominal amount	2,645	3,964	3,488
Obligations under finance leases \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	12,281	1,900	1,890
Obligations under finance leases \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	12,281	1,900	1,890
Aggregate nominal amount	12,281	1,900	1,890
Accrued Interests \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	1	3	3
Accrued Interests \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	1	3	3
Aggregate nominal amount	1	3	3
Other Financial Loans and Borrowings \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	7	7	24
Other Financial Loans and Borrowings \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	7	7	24
Aggregate nominal amount	7	7	24
Trade payables \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	32,753	32,649	19,053
Trade payables \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	32,753	32,649	19,053
Aggregate nominal amount	32,753	32,649	19,053
Other payables \| Level 2 \| Fair value
Disclosure Of Detailed Information About Borrowings [Line Items]
Fair value	527	71	34
Other payables \| Gross
Disclosure Of Detailed Information About Borrowings [Line Items]
Financial liabilities	527	71	34
Aggregate nominal amount	€ 527	€ 71	€ 34

Trade and Other Payables - Schedule of Trade and Other Payables (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Trade and other payables - Total

Trade payables

€ 32,753

€ 32,649

€ 19,053

3,581

2,949

4,217

Employee profit sharing

VAT payables

Taxes payables

487

286

241

Other payables

527

Social security costs payables

37,368

35,974

23,580

Trade and other payables - Current

Trade payables

32,753

32,649

19,053

3,581

2,949

4,217

Employee profit sharing

VAT payables

Taxes payables

487

286

241

Other payables

Trade and other payables - Non current

36,917

€ 35,974

^[1]

€ 23,580

^[1]

Other payables

450

Disclosure Of Information About Defined Benefit Plans [Abstract]

€ 450

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Provisions - Additional Information (Details) - EUR (€)
€ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Provisions [Abstract]

Current provisions

€ 2,061

€ 112

^[1]

€ 361

^[1]

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Employee Benefits - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Defined contribution plan expense

€ 927

€ 765

€ 543

Pension provisions

€ 1,408

€ 1,085

^[1]

€ 936

^[1]

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Employee Benefits - Summary of Assumptions Used for Employees for the Measurement of Retirement Indemnity to Employees (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Defined Benefit Plans [Line Items]
Population	Permanent staff
Retirement age	65 years
Terms of retirement	Initiated by the employee
Life expectancy	On the basis of the INSEE table
Probability of continued presence in the company at retirement age	On the basis of the DARES table
Discount rate	0.75%	1.53%	1.50%
Within 1 Year
Disclosure Of Defined Benefit Plans [Line Items]
Salary growth rate	5.80%	5.80%	5.80%
Beyond
Disclosure Of Defined Benefit Plans [Line Items]
Salary growth rate	3.00%	3.00%	3.00%

Employee Benefits - Summary of Changes in Present Value of Defined Benefit Obligation (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Information About Defined Benefit Plans [Abstract]
Defined benefit obligation, beginning balance	€ 1,085	€ 936	€ 849
Current service cost	138	104	76
Interest cost on benefit obligation	17	14	13
Actuarial losses / (gains) on obligation	168	31	210
Past service costs			(211)
Defined benefit obligation, ending balance	€ 1,408	€ 1,085	€ 936

Employee Benefits - Summary of Sensitivity of the Retirement and Post-Employment Benefits to a Variation of the Discount Rate (Details) € in Thousands	Dec. 31, 2019 EUR (€)
Disclosure Of Information About Defined Benefit Plans [Abstract]
Changes in assumptions/discount rate	0.25%
Impact/present value of the undertaking	€ (51)
Changes in assumptions/discount rate	(0.25%)
Impact/present value of the undertaking	€ 53

Equity - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 27, 2018

Dec. 31, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

Oct. 16, 2017

Disclosure Of Classes Of Share Capital [Line Items]

Number of shares in entity held to entitle double voting rights

2,311,439

Percentage of double voting rights

5.95%

Number of shares issued upon performance condition change on compensation

€ 1,193

€ 1,773

€ 2,165

^[1]

17,484

Total number of shares comprising the share capital

38,858,617

AGA S 2016-2

Disclosure Of Classes Of Share Capital [Line Items]

Number of shares vested

7,796

AGA S 2017-1

Disclosure Of Classes Of Share Capital [Line Items]

Number of shares vested

19,400

Initial Public Offering

Disclosure Of Classes Of Share Capital [Line Items]

Issuance of new shares

7,647,500

Gross amount received from issuance of shares

€ 137,600

OCEANEs

Disclosure Of Classes Of Share Capital [Line Items]

Debt maturity date

October 16, 2022

Nominal amount

180,000

€ 180,000

Disclosure Of Other Income [Line Items]

€ 14,312

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Other Income - Schedule of Other Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Other Income [Line Items]
Other income	€ 10,122	€ 7,425	€ 6,737
CIR Tax Credit
Disclosure Of Other Income [Line Items]
Other income	8,125	7,295	6,545
CICE Tax Credit
Disclosure Of Other Income [Line Items]
Other income	1,992	€ 130	171
Government Grants and Subsidies
Disclosure Of Other Income [Line Items]
Other income	€ 5		€ 21

Other Income - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Exchange gains on trade receivables

€ 1,985

Other operating income recognized as financial income

€ 38

Percentage of employment tax credit

€ 10,122

€ 7,425

^[1]

€ 6,737

^[1]

6.00%

7.00%

Maximum percentage of employment tax credit to French minimum wage.

250.00%

CICE Employment Tax Credit

Disclosure Of Other Income [Line Items]

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

€ 122

€ 170

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7

Operating Expense - Summary of Operating Expenses and Other Operating Income (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

€ (66,170)

€ (67,024)

^[1]

€ (54,189)

^[1]

(17,265)

(9,076)

^[1]

(9,421)

^[1]

(13,708)

(717)

^[1]

(1,649)

(162)

^[1]

Raw materials & consumables used

(98,793)

(76,979)

(63,550)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(2,017)

(1,724)

(2,117)

(177)

(126)

(112)

(8)

(4)

Contracted research & development activities conducted by third parties

(2,202)

(1,855)

(2,229)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(41,509)

(47,659)

(35,088)

(59)

(2)

(7)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(41,568)

(47,662)

(35,095)

Employee expenses

(11,740)

(9,431)

(7,915)

(7,598)

(3,778)

(5,491)

(1,645)

(416)

Other expenses (maintenance, fees, travel, taxes)

(20,984)

(13,625)

(13,406)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(6,188)

(6,502)

(7,973)

(8,972)

(5,451)

(3,374)

(11,979)

(287)

(1,668)

(164)

Depreciation, amortization & impairment charges

(28,807)

(12,403)

(11,280)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(4,716)

(1,707)

(1,095)

(458)

283

(437)

(76)

(11)

Gain / (loss) on disposal of property, plant & equipment

(5,251)

(1,435)

(1,532)

Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]

(8)

Disclosure Of Operating Expense [Line Items]

€ 19

€ 2

€ (8)

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7

Operating Expense - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Reduction in the amount recognized for invoices not received

€ 6,994

(66,170)

€ (67,024)

^[1]

€ (54,189)

^[1]

Disclosure Of Operating Expense [Line Items]

€ (17,265)

(9,076)

^[1]

(9,421)

^[1]

NASH Education Program

€ (1,808)

Financial Income And Expenses [Abstract]

€ (959)

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7

Operating Expense - Summary of Employee Expenses and Number of Employees (Details) € in Thousands	12 Months Ended
	Dec. 31, 2019 EUR (€) Employee	Dec. 31, 2018 EUR (€) Employee	Dec. 31, 2017 EUR (€) Employee
Disclosure Of Operating Expense [Line Items]
Wages and salaries \| €	€ (14,018)	€ (9,012)	€ (9,267)
Social security costs \| €	(5,171)	(3,722)	(3,996)
Changes in pension provision \| €	(138)	(104)	135
Share-based compensation \| €	(1,657)	(787)	(278)
TOTAL \| €	€ (20,984)	€ (13,625)	€ (13,406)
Average number of employees	175	135	123
Average age of employees	37 years 1 month	38 years 11 months	38 years 4 months
Number of employees	194	148	125
Research and Development
Disclosure Of Operating Expense [Line Items]
Number of employees	108	84	77
Services Related to Research and Development
Disclosure Of Operating Expense [Line Items]
Number of employees	19	16	15
Administration and Management
Disclosure Of Operating Expense [Line Items]
Number of employees	60	48	33
Marketing and Commercial
Disclosure Of Operating Expense [Line Items]
Number of employees	7
Senior Staff
Disclosure Of Operating Expense [Line Items]
Number of employees	144	115	92
Staff
Disclosure Of Operating Expense [Line Items]
Number of employees	45	30	29
Apprentices
Disclosure Of Operating Expense [Line Items]
Number of employees	5	3	4
Male
Disclosure Of Operating Expense [Line Items]
Number of employees	78	57	45
Female
Disclosure Of Operating Expense [Line Items]
Number of employees	116	91	80

Share-Based Compensation - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of years of successive plan	4 years
Existing turnover rate	15.00%
Revised turnover rate	0.00%
Share Price Period To Determine Volatility Assumptions Prior to Grant Date	3 years
IFRS 2
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Expenses recognized	€ 1,645	€ 787	€ 278

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Share Warrants (Details)	12 Months Ended
	Dec. 31, 2019 shares € / shares	Dec. 31, 2017 shares € / shares	Dec. 31, 2015 shares € / shares	Dec. 31, 2014 shares € / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Oct. 18, 2019
Date of the CEO decision	Oct. 31, 2019
Beneficiaries	Consultants
Total number of BSAAR subscribed	35,070
Total number of BSAAR voided	0
Total number of BSAAR remaining	35,070
Issue Price \| € / shares	€ 1.23
Excercise price \| € / shares	12.32
Estimated fair value - according to IFRS 2 \| € / shares	€ 0.75
End of exercise period	05/31/2024
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	40.00%
Risk-free interest rate	0.00%
Expected life	8 months 12 days
BSA 2017-A
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting		Jun. 16, 2017
Date of the decision and delegation of the Board of Directors to the CEO		Nov. 21, 2017
Date of the CEO decision		Dec. 06, 2017
Beneficiaries		Consultants and officers
Total number of BSAAR subscribed		18,345
Total number of BSAAR voided		0
Total number of BSAAR remaining		18,345
Issue Price \| € / shares		€ 2.00
Excercise price \| € / shares		19.97
Estimated fair value - according to IFRS 2 \| € / shares		€ 3.78
End of exercise period		06/30/2022
Valuation method used		Black & Scholes
Expected dividends		0.00%
Expected volatility		36.40%
Risk-free interest rate		0.00%
Expected life		6 years
BSA 2017-B
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting		Jun. 16, 2017
Date of the decision and delegation of the Board of Directors to the CEO		Nov. 21, 2017
Date of the CEO decision		Dec. 06, 2017
Beneficiaries		Consultants and officers
Total number of BSAAR subscribed		18,345
Total number of BSAAR voided		0
Total number of BSAAR remaining		18,345
Issue Price \| € / shares		€ 2.00
Excercise price \| € / shares		19.97
Estimated fair value - according to IFRS 2 \| € / shares		€ 3.81
End of exercise period		07/15/2022
Valuation method used		Black & Scholes
Expected dividends		0.00%
Expected volatility		35.70%
Risk-free interest rate		0.00%
Expected life		6 years
BSA 2015-A
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting			Apr. 02, 2014
Date of the Management Board meeting			Jan. 09, 2015
Beneficiaries			Consultants and officers
Total number of BSAAR subscribed			12,860
Total number of BSAAR voided			12,860
Total number of BSAAR remaining			0
Issue Price \| € / shares			€ 0.01
Excercise price \| € / shares			€ 35.95
End of exercise period			05/31/2019
Valuation method used			Black & Scholes
Expected dividends			0.00%
Expected volatility			74.90%
Risk-free interest rate			0.40%
Expected life			4 years
BSA 2015-B
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting			Apr. 02, 2014
Date of the Management Board meeting			Jan. 09, 2015
Beneficiaries			Consultants and officers
Total number of BSAAR subscribed			12,860
Total number of BSAAR voided			12,860
Total number of BSAAR remaining			0
Issue Price \| € / shares			€ 0.01
Excercise price \| € / shares			€ 35.95
End of exercise period			11/30/2019
Valuation method used			Black & Scholes
Expected dividends			0.00%
Expected volatility			74.90%
Risk-free interest rate			0.40%
Expected life			4 years
BSA 2014-A
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting				Apr. 02, 2014
Date of the Management Board meeting				Jul. 24, 2014
Beneficiaries				Consultants and officers
Total number of BSAAR subscribed				46,765
Total number of BSAAR voided				46,765
Total number of BSAAR remaining				0
Issue Price \| € / shares				€ 0.01
Excercise price \| € / shares				€ 23.50
End of exercise period				09/30/2018
Valuation method used				Black & Scholes
Expected dividends				0.00%
Expected volatility				74.90%
Risk-free interest rate				0.40%
Expected life				4 years
BSA 2014-B
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting				Apr. 02, 2014
Date of the Management Board meeting				Jul. 24, 2014
Beneficiaries				Consultants and officers
Total number of BSAAR subscribed				46,765
Total number of BSAAR voided				46,765
Total number of BSAAR remaining				0
Issue Price \| € / shares				€ 0.01
Excercise price \| € / shares				€ 23.50
End of exercise period				02/28/2019
Valuation method used				Black & Scholes
Expected dividends				0.00%
Expected volatility				74.90%
Risk-free interest rate				0.40%
Expected life				4 years

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Redeemable Warrants (Details)	12 Months Ended
	Dec. 31, 2019 shares € / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Oct. 18, 2019
Date of the CEO decision	Oct. 31, 2019
Total number of BSAAR voided	0
Total number of BSAAR remaining	35,070
Issue Price \| € / shares	€ 1.23
Exercise period	05/31/2024
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	40.00%
Risk-free interest rate	0.00%
Expected life	8 months 12 days
BSAAR 2014-A - B and C \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Feb. 24, 2015
Date of the Management Board meeting	Jul. 22, 2016
Total number of BSAAR subscribed	10,800
Total number of BSAAR voided	0
Total number of BSAAR exercised	0
Total number of BSAAR remaining	10,800
Issue Price \| € / shares	€ 23.5
Exercise period	From 01/01/2018 to 27/07/2020
Estimated fair value—valued by expert opinion \| € / shares	€ 4.60
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	75.40%
Risk-free interest rate	0.00%
Expected life	4 years
BSAAR 2014-A - B and C \| Employees and Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Apr. 02, 2014
Date of the Management Board meeting	Sep. 16, 2014
Total number of BSAAR subscribed	62,717
Total number of BSAAR voided	61,484
Total number of BSAAR exercised	1,233
Total number of BSAAR remaining	0
Issue Price \| € / shares	€ 23.5
Exercise period	voided on 09.2018 - 05.2019 and 07.2019
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	75.40%
Risk-free interest rate	0.40%
Expected life	4 years
BSAAR 2014-A - B and C \| Employees and Officers \| Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Estimated fair value—valued by expert opinion \| € / shares	€ 8.44
BSAAR 2014-A - B and C \| Employees and Officers \| Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Estimated fair value—valued by expert opinion \| € / shares	€ 11.29

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Free Shares (Details)	12 Months Ended
	Dec. 31, 2019 shares € / shares	Dec. 31, 2018 shares € / shares	Dec. 31, 2017 shares € / shares	Dec. 31, 2016 shares € / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Oct. 18, 2019
Total number of AGA voided	0
Total number of AGA remaining	35,070
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	40.00%
Risk-free interest rate	0.00%
AGA D \| Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the Executive Board Meeting	Jul. 18, 2019
Total number of AGA subscribed	3,000
Total number of AGA voided	0
Total number of AGA definitively vested	0
Total number of AGA remaining	3,000
Acquisition period	From 07/18/2019 to 09/16/2022
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
AGA D \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the Executive Board Meeting	Jul. 18, 2019
Total number of AGA subscribed	16,070
Total number of AGA voided	450
Total number of AGA definitively vested	0
Total number of AGA remaining	15,620
Acquisition period	From 07/18/2019 to 09/16/2022
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
AGA S \| Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the Executive Board Meeting	Jul. 18, 2019
Total number of AGA subscribed	0
Total number of AGA voided	0
Total number of AGA definitively vested	0
Total number of AGA remaining	0
Acquisition period	From 07/18/2019 to 09/16/2022
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
AGA S \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the Executive Board Meeting	Jul. 18, 2019
Total number of AGA subscribed	17,556
Total number of AGA voided	702
Total number of AGA definitively vested	0
Total number of AGA remaining	16,854
Acquisition period	From 07/18/2019 to 09/16/2022
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
AGA D and S
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting		Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO		Nov. 07, 2018
Date of the Executive Board Meeting		Nov. 22, 2018
Total number of AGA subscribed		35,800
Total number of AGA voided		1,872
Total number of AGA definitively vested		0
Total number of AGA remaining		33,928
Acquisition period		From 11/22/2018 to 12/31/2020
Valuation method used		Monte Carlo
Price of the share at the time of allocation \| € / shares		€ 20.02
Expected dividends		0.00%
Expected volatility		38.00%
Risk-free interest rate		0.00%
Turnover rate		15.00%
AGA D and S 2017-1 and 2017-2
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting			Jun. 16, 2017
Date of the decision and delegation of the Board of Directors to the CEO			Nov. 22, 2017
Date of the Executive Board Meeting			Dec. 06, 2017
Total number of AGA subscribed			41,196
Total number of AGA voided			9,846
Total number of AGA definitively vested			19,403
Total number of AGA remaining			11,947
Acquisition period			From 12/06/2017 to 12/31/2020
Valuation method used			Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 21.95
Expected dividends			0.00%
Expected volatility			53.70%
Risk-free interest rate			0.00%
Turnover rate			15.00%
AGA D and S 2016-1 and 2016-2
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting				Jun. 21, 2016
Date of the Management Board meeting				Dec. 15, 2016
Total number of AGA subscribed				30,709
Total number of AGA voided				5,429
Total number of AGA definitively vested				25,280
Total number of AGA remaining				0
Acquisition period				From 12/15/2016 to 12/15/2019
Valuation method used				Monte Carlo
Price of the share at the time of allocation \| € / shares				€ 20.78
Expected dividends				0.00%
Expected volatility				63.00%
Risk-free interest rate				0.00%
Turnover rate				15.00%

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Stock Options (Details)	12 Months Ended
	Dec. 31, 2019 shares € / shares	Dec. 31, 2018 shares € / shares	Dec. 31, 2017 shares € / shares	Dec. 31, 2016 shares € / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Oct. 18, 2019
Date of the CEO decision	Oct. 31, 2019
Excercise price \| € / shares	€ 12.32
Valuation method used	Black & Scholes
Expected dividends	0.00%
Expected volatility	40.00%
Risk-free interest rate	0.00%
SO \| Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the CEO decision	Jul. 18, 2019
Total number of SO subscribed	15,130
Total number of SO voided	0
Total number of SO definitively vested	0
Total number of SO remaining	15,130
Excercise price \| € / shares	€ 13.99
Vesting period	From 07/18/2019 to 09/16/2022
Exercise period	From 09/17/2022 to 09/17/2029
Fair value \| € / shares	€ 4.59
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
SO \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the CEO decision	Jul. 18, 2019
Total number of SO subscribed	92,750
Total number of SO voided	1,780
Total number of SO definitively vested	0
Total number of SO remaining	90,970
Excercise price \| € / shares	€ 13.99
Vesting period	From 07/18/2019 to 09/16/2022
Exercise period	From 09/17/2022 to 09/17/2029
Fair value \| € / shares	€ 4.59
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
SO 1 et 2 2017 \| Employees and Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting			Jun. 16, 2017
Date of the decision and delegation of the Board of Directors to the CEO			Nov. 21, 2017
Date of the CEO decision			Dec. 06, 2017
Total number of SO subscribed			96,250
Total number of SO voided			21,577
Total number of SO definitively vested			0
Total number of SO remaining			74,673
Excercise price \| € / shares			€ 17.91
Vesting period			From 12/06/2017 to 12/31/2020
Exercise period			From 01/01/2021to 12/31/2027
Fair value \| € / shares			€ 9.32
Valuation method used			Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 21.95
Expected dividends			0.00%
Expected volatility			53.70%
Risk-free interest rate			0.00%
Turnover rate			15.00%
SO US 2017 \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting			Jun. 16, 2017
Date of the decision and delegation of the Board of Directors to the CEO			Nov. 21, 2017
Date of the CEO decision			Dec. 06, 2017
Total number of SO subscribed			13,000
Total number of SO voided			13,000
Total number of SO definitively vested			0
Total number of SO remaining			0
Excercise price \| € / shares			€ 22.54
Vesting period			From 12/06/2017 to 12/31/2020
Exercise period			From 01/01/2021to 12/31/2027
Fair value \| € / shares			€ 9.32
Valuation method used			Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 21.95
Expected dividends			0.00%
Expected volatility			53.70%
Risk-free interest rate			0.00%
Turnover rate			15.00%
SO US 1 \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO	Jul. 18, 2019
Date of the CEO decision	Jul. 18, 2019
Total number of SO subscribed	30,620
Total number of SO voided	0
Total number of SO definitively vested	0
Total number of SO remaining	30,620
Excercise price \| € / shares	€ 16.9
Vesting period	From 07/18/2019 to 09/16/2022
Exercise period	From 09/17/2022 to 09/17/2029
Fair value \| € / shares	€ 3.67
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 17.06
Expected dividends	0.00%
Expected volatility	40.16%
Risk-free interest rate	0.00%
Turnover rate	0.00%
SO US 2016 \| Employees and Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting				Jun. 21, 2016
Date of the Management Board meeting				Dec. 15, 2016
Total number of SO subscribed				62,875
Total number of SO voided				13,169
Total number of SO definitively vested				49,706
Total number of SO remaining				0
Excercise price \| € / shares				€ 15.79
Vesting period				From 12/15/2016 to 12/15/2019
Exercise period				From 12/16/2019 to 12/16/2026
Fair value \| € / shares				€ 10.3
Valuation method used				Monte Carlo
Price of the share at the time of allocation \| € / shares				€ 20.79
Expected dividends				0.00%
Expected volatility				63.00%
Risk-free interest rate				0.00%
Turnover rate				15.00%
SO US 2 \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting	Nov. 27, 2019
Date of the decision and delegation of the Board of Directors to the CEO	Nov. 27, 2019
Date of the CEO decision	Nov. 27, 2019
Total number of SO subscribed	13,350
Total number of SO voided	0
Total number of SO definitively vested	0
Total number of SO remaining	13,350
Excercise price \| € / shares	€ 14.31
Vesting period	From 11/27/2019 to 01/16/2023
Exercise period	From 01/17/2023 to 01/17/2030
Fair value \| € / shares	€ 3.23
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 14.5
Expected dividends	0.00%
Expected volatility	40.00%
Risk-free interest rate	0.00%
Turnover rate	0.00%
SO US 2016 \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting				Jun. 21, 2016
Date of the Management Board meeting				Dec. 15, 2016
Total number of SO subscribed				10,500
Total number of SO voided				10,500
Total number of SO definitively vested				0
Total number of SO remaining				0
Excercise price \| € / shares				€ 21.12
Vesting period				From 12/15/2016 to 12/15/2019
Exercise period				From 12/16/2019 to 12/16/2026
Fair value \| € / shares				€ 8.52
Valuation method used				Monte Carlo
Price of the share at the time of allocation \| € / shares				€ 20.79
Expected dividends				0.00%
Expected volatility				63.00%
Risk-free interest rate				0.00%
Turnover rate				15.00%
SO 2018 \| Employees and Officers
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting		Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO		Nov. 07, 2018
Date of the CEO decision		Nov. 07, 2018
Total number of SO subscribed		122,000
Total number of SO voided		2,000
Total number of SO definitively vested		0
Total number of SO remaining		120,000
Excercise price \| € / shares		€ 16.00
Vesting period		From 11/07/2018 to 12/31/2021
Exercise period		From 01/01/2022 to 12/31/2028
Fair value \| € / shares		€ 9.32
Valuation method used		Monte Carlo
Price of the share at the time of allocation \| € / shares		€ 22.12
Expected dividends		0.00%
Expected volatility		44.07%
Risk-free interest rate		0.00%
Turnover rate		15.00%
SO US 2018 \| Employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Date of the Shareholders meeting		Jun. 15, 2018
Date of the decision and delegation of the Board of Directors to the CEO		Nov. 07, 2018
Date of the CEO decision		Nov. 07, 2018
Total number of SO subscribed		17,500
Total number of SO voided		3,000
Total number of SO definitively vested		0
Total number of SO remaining		14,500
Excercise price \| € / shares		€ 21.65
Vesting period		From 11/07/2018 to 12/31/2021
Exercise period		From 01/01/2022 to 12/31/2028
Fair value \| € / shares		€ 6.9
Valuation method used		Monte Carlo
Price of the share at the time of allocation \| € / shares		€ 22.12
Expected dividends		0.00%
Expected volatility		44.07%
Risk-free interest rate		0.00%
Turnover rate		15.00%

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Performance Conditions (Details)	12 Months Ended
	Dec. 31, 2019
SO 2019 SOUS2019 AGA2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Evaluation date for performance conditions	07/31/2022
Nature of internal conditions	66 2/3% of the instruments will be exercisable or definitively vested, and 100% of the free shares for the AGA S 2019 will be vested, regardless of the variation of the stock market price of the Company’s shares, if at least one of the three following conditions is fulfilled: (i) if a marketing authorization is granted or an application for marketing authorization is examined:  by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) for elafibranor for NASH; or:  by the U.S. Food and Drug Administration (FDA)/the competent European authorities in the field of IVD for NIS4 for NASH; or: (ii) if at least two of the four clinical trial among the following trials have delivered their principal results or are ongoing:  Phase III clinical trials for elafibranor for PBC; or  clinical trial evaluating elafibranor’s efficacy in NASH pediatric patients; or  Phase IIb clinical trial or clinical trial aimed at registration for NTZ in fibrosis; or  Clinical trial evaluating elafibranor or NTZ in combination therapy for NASH or for hepatic fibrosis; or: (iii) if at least a new licensing agreement, on one or another of Genfit’s products in one or several territories, is entered into by the Company.
Nature of external conditions	33 1/3 % of the instruments will be exercisable or definitively vested, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated
AGA S 2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Evaluation date for performance conditions	07/31/2022
Nature of internal conditions	The free shares will definitively vest upon the same internal performance conditions as the SO 2019, SO US 2019 and AGA D 2019 plans
SO US 2019-2
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Nature of internal conditions	66 2/3 % of the instruments will be exercisable if at least if at least one of the three following conditions is fulfilled: (i) if elafibranor has been granted marketing authorization by the European Medicines Agency (EMA) or the U.S. Food and Drug Administration (FDA) in NASH or PBC or NIS4 has been authorized by FDA or received CE marking from the EMA; (ii) a licensing agreement pertaining to elafibranor or NTZ has been signed for the U.S. market and/or for at least two of the five major European markets (Germany, France, Italy, United Kingdom, Spain) and/or Japan; (iii) at least two clinical trials for drug registration are underway. Nature of external conditions
Nature of external conditions	33 1/3 % of the instruments will be exercisable, in proportion to the variation of the Company’s stock market price as per the following breakdown: (i) if the Final Price is strictly lower than the Initial Price, the number of the Stock Options exercisable is equal to 0; (ii) if the Final Price is between (i) a value equal to or higher than the Initial Price and (ii) a value lower than the Ceiling Price, the number of Stock Options exercisable is equal to: [(Final Price / Initial Price)-1]/2 x 1/3 of number of Stock Options; (iii) if the Final Price is equal to or higher than the Ceiling Price, the number of Stock Options exercisable is equal to the entire one-third of the Stock Options allocated.

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Performance Conditions (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019
SO 2019 SOUS2019 AGA2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Percentage of exercisable or definitively allocated instruments regardless of stock market price variation	66.67%
Percentage of exercisable or definitively allocated instruments proportion to stock market price evolution	33.33%
SO US 2019-2
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Percentage of exercisable or definitively allocated instruments regardless of stock market price variation	66.67%
Percentage of exercisable or definitively allocated instruments proportion to stock market price evolution	33.33%

Financial Income and Expenses - Summary of Financial Income and Expenses (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

^[1]

Interest income

€ 2,626

€ 202

€ 389

Foreign exchange gain

2,272

101

Other financial income

324

425

195

TOTAL - Financial income

5,221

728

^[2]

642

^[2]

Interest expenses

(11,289)

(10,955)

(2,309)

Interest expenses for leases

(148)

(21)

(10)

Foreign exchange losses

(1,657)

(127)

(764)

Other financial expenses

(17)

(14)

(13)

TOTAL - Financial expenses

(13,110)

(11,118)

^[2]

(3,096)

^[2]

Financial profit (loss)

€ (7,889)

€ (10,391)

^[2]

€ (2,453)

^[2]

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7

Financial Income and Expenses - Additional Information (Details) - OCEANEs	Dec. 31, 2019	Oct. 16, 2017
Disclosure Of Financial Income And Expenses [Line Items]
Interest rate		7.20%
Discounting of bond debt, effective interest rate	7.20%
Fixed Interest Rate
Disclosure Of Financial Income And Expenses [Line Items]
Interest rate	3.50%	3.50%

Income Tax - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

Tax loss carry forwards

€ 384,471

€ 305,530

€ 226,708

Taxable profit limit

€ 1,000

Percentage of profit exceeding limit offsetting taxable profit

50.00%

Post-employment benefit expense, defined benefit plans impact on deferred tax assets

304

262

€ 3,182

1,988

Temporary Difference From Postemployments

1,193

1,773

^[1]

2,165

^[1]

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

Temporary differences

1,085

936

352

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

352

OCEANEs

Temporary differences

€ 1,773

2,165

OCEANEs | Temporary Differences

€ 14,312

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

3,182

1,989

Profit (loss) for the period (in € thousands)

€ 1,193

[1]	The Group applied IFRS 16 “Leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of this application is presented in note 4.7.2 Application of the new IFRS 16 standard.

Earnings (Loss) Per Share - Summary of Earnings (Loss) Per Share (Details) - EUR (€)
€ / shares in Units, € in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Earnings Per Share [Abstract]

€ (65,144)

€ (79,521)

^[1],[2]

€ (55,728)

^[1],[2]

Weighted average number of ordinary shares for the period

36,987,982

31,167,203

31,166,437

Profit (loss) per share (in €)

€ (1.76)

€ (2.55)

€ (1.79)

Weighted average number of ordinary shares used in the above calculation

36,987,982

31,167,203

31,166,437

[1]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method and therefore, the comparative information for 2017 and 2018 has not been restated . The impact of this application is presented in note 4.7
[2]	The Group applied IFRS16 ”leases” from January 1, 2019 using the modified retrospective method, and therefore, the comparative information for 2017 and 2018 has not been restated. The impact of the application is presented in note 4.7