0001757064-24-000007 | 20-F | XBRL Viewer

Related Parties

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

RELATED PARTIES

Compensation of key management personnel

The aggregate compensation of the members of the Company’s Board of Directors (including the Chairman of the Board) and to the Chief Executive Officer includes the following:


	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Fixed compensation owed	518	585	614
Variable compensation owed	163	169	170
Attendance fees - board of Directors	488	421	381
Contributions in-kind	23	21	23
Share-based payments	58	74	72
Employer contributions	443	410	396
Consulting fees	0	0	0
TOTAL	1,693	1,680	1,656

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 twelve Company employees.

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

At December 31, 2023, Biotech Avenir SAS held 3.79% of the share capital of the Company.

The Company did not carry out any transactions with Biotech Avenir in 2023, 2022, or 2021, with the exception of the domiciliation without charge.

Ipsen Pharma SAS

The licensing agreement signed with Ipsen Pharma SAS in December 2021 provides for a certain number of service agreements that were signed with the Company in 2022 and 2023, notably the Inventory Purchase Agreement, the Transition Services Agreement and the Part B Transition Services Agreement.

These agreements cover support for Ipsen in future proceedings and processes (other than knowledge transfer) and the provision of drug tablets which Ipsen may require to execute its clinical trial. As per the agreement signed with Ipsen in December 2021, the prices under these agreements cover all costs borne by the Company to provide the relevant goods and services, without economic benefit for Ipsen.

See N ote 7.1 - "Revenues and other income".

Deferred Income and Revenue	12 Months Ended
Deferred Income and Revenue	Dec. 31, 2023
Deferred Income and Revenue [Abstract]
Deferred Income and Revenue	DEFERRED INCOME AND REVENUE Out of the €120 million upfront payment received from Ipsen in application of the licensing agreement signed in December 2021, an amount of €40 million was recognized as Deferred income in 2021. The Deferred income is recognized as revenue as GENFIT carries out its part of the double-blind ELATIVE® study, based on the progress made relative to the originally developed budget. As of December 31, 2022, the Company considers that this initial budget is still appropriate based on progress performed. In 2022, €15.9 million of said balance was recognized as revenue. As of December 31, 2022, €24.1 million of Deferred income remains, of which €14.4 million relates to Current deferred income and of which €9.7 million relates to Non-current deferred income, which was determined based on the original budget. In 2023, €8.7 million of said balance was recognized as revenue. As of December 31, 2023, €15.3 million of Deferred income remains, of which €11.6 million relates to Current deferred income and of which €3.8 million relates to Non-current deferred income, which was determined based on the original budget. See "Note 7 - "Revenues and Other income"

Commitments - Additional Information (Details) € in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2023 USD ($)
Disclosure Of Commitments [Abstract]
Rental payment obligation under the lease agreement \| €	€ 600	€ 600
Asset recognised for expected reimbursement, contingent liabilities in business combination \| $			$ 193

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

Schedule of Variations in Intangible Assets

The following tables show the variations in intangible assets for the years ended December 31, 2022 and 2023:


	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	12/31/2021			adjustments		12/31/2022
Gross


Software	1,294	81	(398)	—	—	977
Patents	70	281	—	—	—	351

Other intangibles	—	43,569	—	—	—	43,569
TOTAL—Gross	1,364	43,931	(398)	—	—	44,897
Accumulated depreciation and impairment


Software	(1,190)	(79)	329	—	—	(940)
Patents	—	—	—	—	—	—

Other intangibles	—	—	—	—	—	—
TOTAL - Accumulated depreciation and impairment	(1,190)	(79)	329	—	—	(940)
TOTAL - Net	174	43,852	(69)	—	—	43,957


	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	12/31/2022			adjustments		2023/12/31
Gross


Software	977	24	(45)	—	—	955
Patents	351	—	—	—	18	369

Other intangibles	43,569	2,050	—	2,746	—	48,366
TOTAL—Gross	44,897	2,074	(45)	2,746	18	49,690
Accumulated depreciation and impairment


Software	(940)	(63)	75	—	—	(928)
Patents	—	—	—	—	—	—

Other intangibles	—	—	—	—	—	—
TOTAL - Accumulated depreciation and impairment	(940)	(63)	75	—	—	(928)
TOTAL - Net	43,957	2,010	29	2,746	18	48,761

Operating Income

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Income [Abstract]

Operating Income

REVENUES AND OTHER INCOME

Financial statement line item detail

In 2023, the total revenues and other income amounted to €38,176 (€26,566 in 2022, and €85,579 in 2021).

Revenue amounted to €28,565 in 2023 (€20,195 in 2022, and €80,069 in 2021).

Revenue is primarily composed of:

1.Licensing Agreement (Ipsen). In December 2021, GENFIT and Ipsen entered into an exclusive licensing agreement for elafibranor, a Phase 3 asset evaluated in Primary Biliary Cholangitis (PBC), as part of a long-term global partnership ("Collaboration and License Agreement").

◦In 2023, €13.3 million was attributable to a milestone invoiced to Ipsen in December 2023 in accordance with the Collaboration and Licensing agreement signed in December 2021. This milestone was earned following the NDA filing acceptance by the FDA and MAA filing acceptance by the EMA for accelerated approval of elafibranor. €8.7 million was attributable to previously deferred revenue of €40 million from 2021 as noted immediately below, in line with the progress in the ELATIVE® clinical study and related expenses incurred during the period.

◦In 2022, €15.9 million was attributable to previously deferred revenue of €40 million from 2021 as noted immediately below, in line with the progress in the ELATIVE® clinical study and expenses incurred during the period.

◦In 2021, €80 million was attributable to the recognition of the initial payment received from Ipsen pursuant to the license agreement entered into in December 2021 (of the total amount of €120 million) for the granting of the licence. The remaining balance of the initial payment, i.e. 40 million euros, was recorded as deferred income.

2.Transition Services Agreements (Ipsen). GENFIT and Ipsen entered into the Transition Services Agreement and Part B Transition Services Agreement, signed in April 2022 and September 2023 respectively, in order to facilitate the transition of certain services related to the Phase 3 ELATIVE® clinical trial until the complete transfer of the responsibility of the trial to Ipsen.

◦In 2023, the services provided under this contract generated €6.5 million in revenue.

◦In 2022, the services provided under this contract generated €1 million in revenue.

3.Inventory Purchase Agreement (Ipsen). GENFIT and Ipsen also entered into an Inventory Purchase Agreement in 2022, which provided for the purchase by Ipsen of batches of active ingredients and elafibranor products during the second half of 2022.

◦In 2023, no revenue was generated under this contract.

◦In 2022, inventory sold to Ipsen under this contract generated €3.3 million in revenue.

4.Other revenue

◦In 2023 and 2022 other revenue was not significant.

◦In 2021, other revenue recognized relates to license agreements with Labcorp for the deployment of NIS4® diagnostic technology in the field of MASH, amounting to €69.

Application of IFRS 15 to the Ipsen License Agreement signed in 2021

Performance obligations

We have identified that the agreement provides for four distinct performance obligations:

•The license for elafibranor,

•The completion of the ELATIVE® Phase 3 trial until the end of the double-blind period,

•The knowledge transfer related to elafibranor, as well as support for Ipsen in future undertakings and processes, and

•The provision of drug tablets that may be needed by Ipsen to conduct their clinical trials.

The compensation under this agreement consists of an upfront payment, milestone payments, and royalties on future sales of elafibranor by Ipsen. Besides, it must be noted that, with respect to (i) support services other than the knowledge transfer and (ii) the provision of drug tablets, the agreement provides for separate prices covering all costs borne by the Company to provide those goods and services, therefore constituting in each case an individual and distinct sale price for the relevant goods or service, which is not included in the aforementioned price elements.

We estimate the individual sale price of the clinical trial phase to be €40 million, including forecasted external costs, personnel expenses for the relevant staff, indirect costs pertaining to the work environment of such staff, augmented of a customary margin rate for CRO (Clinical Research Organization) contracting. This calculation of the individual sale price for the clinical trial phase reflects observable price conditions as recommended under IFRS 15.79.c. We used the same method to calculate the individual sale price of the knowledge transfer.

Revenue accounting treatment for periods presented

Regarding the recognition of revenue related to the license, we have applied the following methods:

•The upfront payment, minus the portion of prices allocated to knowledge transfer services and clinical phase execution, has been recognized at the date of transfer of control, i.e. December 16, 2021 according to the above, as it is a static license (without implication or associated service provision);

•Milestone payments constitute variable and uncertain income, which would be, if applicable, recognized in revenue at the time they become highly probable, which means, in this case, due by Ipsen. In 2023, the €13.3 million milestone was triggered by the acceptance of the New Drug Application (NDA) filing by the US Food and Drug Administration (FDA) and Marketing Authorization Application (MAA) by the European Medicines Agency (EMA) for accelerated approval of elafibranor in Primary Biliary Cholangitis (PBC).

Regarding the recognition of revenue related to the Phase 3 ELATIVE® trial until the end of the double-blind period, we have applied the following method:

•The part of the upfront payment allocated to this service will be recognized progressively as completion progresses.

Accounting treatment for future milestones and royalties

•Milestone payments constitute variable and uncertain income, which would be, if applicable, recognized in revenue at the time they become highly probable, which means, in this case, due by Ipsen. In addition, the future milestones that we may receive in 2024, subject to approval by applicable regulatory authorities and US and European commercial launches of elafibranor in PBC by Ipsen, represents a total of up to approximately €75.2 million.

•Royalties will be progressively recognized in revenue as sales are completed by Ipsen, in accordance with the IFRS 15 exception for royalties constituting variable income.

Application of IFRS 15 to the Ipsen Transition Services Agreement and Inventory Purchase Agreement signed in 2022

In 2022, GENFIT and Ipsen entered into a Transition Services Agreement, which outlines the scope of services to facilitate the transition of some activities related to the Phase 3 clinical trial evaluating elafibranor in Primary Biliary Cholangitis (PBC). This agreement is a supplementary follow-on to the Collaboration and License Agreement mentioned above. We evaluated the agreement under IFRS 15 and we concluded that the services constitute a single performance obligation for which revenue is recognized as services are performed.

In 2022, GENFIT and Ipsen entered into an Inventory Purchase Agreement, pursuant to which Ipsen purchased inventory from GENFIT, namely the elafibranor active pharmaceutical ingredient and related drug product, during the second half of 2022 with the prospect of transferring the conduct of the ELATIVE® study to Ipsen. We evaluated the agreement under IFRS 15 and we concluded that the services constitute a single performance obligation for which revenue is recognized when inventory is provided to Ipsen.

Application of IFRS 15 to the Ipsen Part B Transition Services Agreement signed in 2023

In 2023, GENFIT and Ipsen entered into a Part B Transition Services Agreement, which outlines the scope of services to facilitate the transition of some activities related to the Phase 3 clinical trial evaluating elafibranor in Primary Biliary Cholangitis (PBC). This agreement is a supplementary follow-on to the Collaboration and License Agreement mentioned above. We evaluated the agreement under IFRS 15 and we concluded that the services constitute a single performance obligation for which revenue is recognized as services are performed.

Other income

The breakdown of Other income is as follows:


Other income	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
CIR tax credit	5,282	6,017	5,807
Other operating income	223	320	464
Government grants and subsidies	5	34	3,340
TOTAL	5,510	6,371	9,610

The research tax credit (CIR) amounted to €5,807 in 2023 (€6,017 in 2022 and €5,282 in 2021), due to a slight reduction in eligible research and development expenses. Note that there is also a tax inspection currently taking place as explained in Note 11 - "Income tax".

Other operating income amounted to €464 in 2023 (€320 in 2022 and €223 in 2021), mainly comprised of exchange gains on trade receivables.

Government grants and subsidies amounted to €3,340 in 2023 (€34 in 2022 and €5 in 2021). The increase is from one-time cancellation of €3,229 thousand refundable government grant from Bpifrance (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. For further information refer to Note 20.2.1 - "Breakdown and other Loans and Borrowings - Refundable and conditional advance s ".

Cash flow statement (Details) - EUR (€) € in Thousands	12 Months Ended
Cash flow statement (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flow Information [Abstract]
Accrued property, plant and equipment	€ 42	€ 142	€ 76

Financial Risks Management - Sensitivity of Group's Cash and Cash Equivalents and Expenses to Variation 10% of CHF against Euro (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Ten Percent Increase Decrease In C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	€ 1,200	€ 2,357
Operating expense	5,052	2,048
Ten Percent Increase Of C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,333	2,618
Operating expense	5,614	2,275
Ten Percent Decrease Of C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,091	2,142
Operating expense	€ 4,593	€ 1,862

Consolidated Statements of Cash Flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
+ Net profit (loss)	€ (28,894)	€ (23,719)	€ 67,259
Adjustments to reconcile profit (loss) [abstract]
+ Depreciation and amortization on tangible and intangible assets	1,654	1,832	2,742
+ Impairment and provisions	(392)	(179)	(1,996)
+ Expenses related to share-based compensation	578	245	470
- Loss (gain) on disposal of property, plant and equipment	(81)	(16)	420
+ Net finance expenses (revenue)	485	2,042	4,663
+ Income tax expense (benefit)	380	(116)	2,215
+ Other non-cash items	(878)	2,210	(35,538)
Operating cash flows before change in working capital	(27,148)	(17,702)	40,235
Changes In Working Capital [Abstract]
Decrease (increase) in trade receivables and other assets	(17,418)	(8,565)	4,344
(Decrease) increase in trade payables and other liabilities	(10,397)	(46,226)	55,335
Change in working capital	(27,815)	(54,791)	59,680
Income tax paid	(465)	(145)	0
Net cash flows provided by (used in) in operating activities	(55,429)	(72,638)	99,915
Purchase of interests in associates	0	41,525	0
Purchase of intangible assets, classified as investing activities	2,074	0	126
Cash flows from investment activities
- Acquisition of other intangible assets	(414)	251	(411)
+ Proceeds from disposal of / reimbursement of property, plant and equipment	172	20	309
- Acquisition of financial instruments	(12)	(5,012)	(3,148)
Proceeds from sales or maturity of financial instruments, classified as investing activities	4,562	0	0
Net cash flows provided by (used in ) investment activities	2,234	(46,266)	(3,377)
Cash flows from financing activities
+ Proceeds from issue of share capital (net)	0	5	27,972
+ Proceeds from new loans and borrowings net of issue costs	89	0	15,270
- Repayments of loans and borrowings	(3,619)	(628)	(48,436)
- Payments on lease debts	(1,075)	(1,120)	(1,887)
- Financial interests paid (including finance lease)	(2,201)	(2,180)	(2,109)
+ Financial interests received	1,709	137	274
Net cash flows provided by (used in ) financing activities	(5,098)	(3,786)	(8,916)
Increase (decrease) in cash and cash equivalents	(58,292)	(122,690)	87,622
Cash and cash equivalents at the beginning of the period	136,001	258,756	171,029
Effects of exchange rate changes on cash	80	(66)	105
Cash and cash equivalents at the end of the period	€ 77,789	€ 136,001	€ 258,756

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)	Retained earnings, excluding profit (loss) for reporting period [member]
Balance at beginning of period (in shares) at Dec. 31, 2020		38,888,379,000
Balance at beginning of period at Dec. 31, 2020	€ (16,430)	€ 9,722	€ 379,057	€ (811)	€ (303,086)	€ (92)	€ (101,221)
+ Net profit (loss)	67,259						67,259
Other comprehensive income (loss)	330				216	113
Total comprehensive income (loss)	67,589				216	113	67,259
Allocation of prior period profit (loss)	0				(101,221)		101,221
Capital increase (shares)		10,927,110,000
Capital increase	65,332	€ 2,732	62,600		0
Share-based compensation	470		470
Treasury shares	(174)			(174)
Balance at end of period (in shares) at Dec. 31, 2021		49,815,489,000
Balance at end of period at Dec. 31, 2021	119,097	€ 12,454	444,438	(986)	(404,090)	22	67,259
+ Net profit (loss)	(23,719)						(23,719)
Other comprehensive income (loss)	(1,108)				258	(1,366)
Total comprehensive income (loss)	(24,827)				258	(1,366)	(23,719)
Allocation of prior period profit (loss)	0				67,259		(67,259)
Capital increase (shares)		19,494,000
Capital increase	0	€ 5	0		(5)
Share-based compensation	245		245
Treasury shares	8			8
Other movements	€ 5				5
Balance at end of period (in shares) at Dec. 31, 2022	49,834,983	49,834,983,000
Balance at end of period at Dec. 31, 2022	€ 94,528	€ 12,459	444,683	(978)	(336,573)	(1,344)	(23,719)
+ Net profit (loss)	(28,894)						(28,894)
Other comprehensive income (loss)	1,504				(836)	2,340
Total comprehensive income (loss)	(27,390)				(836)	2,340	(28,894)
Allocation of prior period profit (loss)	0				(23,719)		23,719
Share-based compensation	578		578
Treasury shares	8			8
Other movements	€ 227							€ 227
Balance at end of period (in shares) at Dec. 31, 2023	49,834,983	49,834,983,000
Balance at end of period at Dec. 31, 2023	€ 67,951	€ 12,459	€ 445,261	€ (970)	€ (360,901)	€ 996	€ (28,894)

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, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2020 EUR (€)
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	€ 77,789,000			€ 136,001,000			€ 258,756,000						€ 171,029,000
Euros equivalent to USD or CHF	1	1.1050	0.9260	1	1.0666	0.9847	1	1.1326
Denominated in USD
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	€ 19,931,000			€ 32,057,000					$ 22,023,000		$ 34,192,000
Expenses \| $		$ 15,326,000			$ 14,884,000			$ 12,566,000
Denominated In C H F
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,200,000			2,358,000						SFr 1,111,000		SFr 2,321,000
Expenses \| SFr			SFr 4,678,000			SFr 2,016,000
10% Increase (Decrease) in US Dollar vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	19,930,000			32,057,000
Expenses	13,870,000			13,955,000			€ 11,095,000
10% Increase of US Dollar vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	22,145,000			35,619,000
Expenses	15,411,000			15,506,000			12,328,000
10% Decrease of US Dollar vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	18,119,000			29,143,000
Expenses	12,609,000			12,686,000			€ 10,086,000
Ten Percent Increase Decrease In C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,200,000			2,357,000
Expenses	5,052,000			2,048,000
Ten Percent Increase Of C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,333,000			2,618,000
Expenses	5,614,000			2,275,000
Ten Percent Decrease Of C H F Vs Euro
Foreign Exchange Rates [Line Items]
Cash and cash equivalents	1,091,000			2,142,000
Expenses	€ 4,593,000			€ 1,862,000

Financial Income and Expenses - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Financial Income And Expenses [Line Items]
Finance income from renegotiation of debt	€ 0	€ 0	€ 35,578
Foreign exchange gain (loss)	515
OCEANE
Disclosure Of Financial Income And Expenses [Line Items]
Finance income from renegotiation of debt	€ 35,600
Proportion of payment of coupons rate (as a percent)	3.50%
Proportion of discount of bond debt at effective interest rate (as a percent)	8.80%

Loans and Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Borrowing costs [abstract]

Summary of Bonds


			As of 31/12/2022 :
			Number of bonds						1,923,662
			Nominal amount of the loan						56,940,395.20€
			Nominal unit value of the bonds						29.60€
			Effective interest rate						8.8%
			As of 31/12/2023 :
			Number of bonds						1,923,662
			Nominal amount of the loan						56,940,395.20€
			Nominal unit value of the bonds						29.60€
			Effective interest rate						8.8%

Summary of Convertible Loans

Convertible loans - Total

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

50,276

52,622

TOTAL

50,276

52,622

Convertible loans - Current

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

415

TOTAL

415

Convertible loans - Non current

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

49,861

52,206

TOTAL

49,861

52,206

Other Loans and Borrowings

Other loans and borrowings consisted of the following:


Other loans and borrowings - Total	As of
(in € thousands)		2022/12/31	2023/12/31
Refundable and conditional advances		3,229	—
Bank loans		15,196	11,578


Obligations under leases		6,559	5,884
Accrued interests		14	7

Bank overdrafts		—	89
TOTAL		24,999	17,557


Other loans and borrowings - Current	As of
(in € thousands)		2022/12/31	2023/12/31
Refundable and conditional advances		—	—
Bank loans		3,619	6,339


Obligations under leases		1,032	1,076
Accrued interests		14	7

Bank overdrafts		—	89
TOTAL		4,665	7,510


Other loans and borrowings - Non current	As of
(in € thousands)	2022/12/31	2023/12/31
Refundable and conditional advances	3,229	—
Bank loans	11,578	5,239


Obligations under leases	5,527	4,808
Accrued interests	—	—

Bank overdrafts	—	—
TOTAL	20,334	10,047

Summary of Refundable and Conditional Advances

The following table summarizes advances outstanding at December 31, 2023 and 2022.


Refundable and conditional advances—general overview	Grant date	Total amount allocated	Receipts	Cancellations	Effects of discounting	Net book value As of 2023/12/31
(in € thousands)
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
TOTAL		3,229	3,229	(3,229)	—	—


Refundable and conditional advances—general overview	Grant date	Total amount allocated	Receipts	Repayments	Effects of discounting	Net book value As of 2022/12/31
(in € thousands)
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
TOTAL		3,229	3,229	—	—	3,229

Summary of Bank Loans

Bank loans consisted of the following as of December 31, 2022 and 2023 with the following interest rates and repayment terms:


Bank loans	Loan	Facility	Interest		Available As of 2023/12/31	Installments	Outstanding As of 2022/12/31	Outstanding As of 2023/12/31
(in € thousands)	date	size	rate







BNP 4	April 2017	800	0.87	%	—	60 monthly	54	—
AUTRES	-	—	—	%	—	0	17	13
CDN PGE	June 2021	900	1.36	%	—	8 quarterly	900	675
CIC PGE	June 2021	2,200	0.75	%	—	8 quarterly	2,200	1,650
BNP PGE	June 2021	4,900	0.45	%	—	8 quarterly	4,900	3,675
NATIXIS PGE	June 2021	3,000	0.40	%	—	8 quarterly	3,000	2,250
BPI PGE	July 2021	2,000	2.25	%	—	16 quarterly	1,900	1,500
BPI PRÊT TAUX BONIFIE	November 2021	2,250	2.25	%	—	20 quarterly	2,250	1,820
TOTAL							15,221	11,583

The effective interest rates are follows for the PGE loans:

•CDN PGE (loan of €900): 2.08% per annum

•CIC PGE (loan of €2,200): 1.46% per annum

•BNP PGE (loan of €4,900): 1.16% per annum

•NATIXIS PGE (loan of €3,000): 1.11% per annum

•BPI PGE (loan of €2,000): 1.65% per annum

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)	2023/12/31	1 year	2 years	3 years	4 years	5 years	5 years

TOTAL - Refundable and conditional advances	—	—	—	—	—	—	—
Convertible loans	57,356	415	56,940	—	—	—	—
Bank loans	11,578	6,339	3,601	867	771	—	—


Leases	5,884	1,076	1,088	1,101	1,114	1,127	378
Accrued interests	7	7	—	—	—	—	—

Bank overdrafts	89	89	—	—	—	—	—
TOTAL - Other loans and borrowings	74,913	7,926	61,630	1,968	1,884	1,127	378
TOTAL	74,913	7,926	61,630	1,968	1,884	1,127	378

Trade and Other Payables - Schedule of Trade and Other Payables (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and other payables - Total
Trade payables	€ 10,448	€ 8,613
Payables on social security and taxes other than income tax	4,188	4,838
Value added tax payables	3,139	200
Excise tax payables	110	316
Other payables	914	1,325
Total trade and other payables	18,799	15,293
Trade and other payables - Current
Current payables on social security and taxes other than income tax	4,188	4,838
Current value added tax payables	3,139	200
Current excise tax payables	110	316
Other current payables	914	877
Total trade and other current payables	18,799	14,845
Trade and other payables - Non current
Other non-current payables	0	448
Total trade and other non-current payables	0	448
Accrued expenses	€ 4,765	€ 3,924

Loans and Borrowings - Summary of Bank Loans (Details) - Bank Loans [Member] - Research and Laboratory Equipment € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) Facility Size	Dec. 31, 2022 EUR (€)
Disclosure of detailed information about borrowings [line items]
Facility size \| Facility Size
Interest rate (in percent)
New debt recognized
Installments
Bank loan outstanding	€ 11,583	€ 15,221
B N P Four [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	April 2017
Facility size \| Facility Size	800,000
Interest rate (in percent)	0.87%
New debt recognized	€ 0
Installments	60 monthly
Bank loan outstanding	€ 0	54
Other [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	-
Facility size \| Facility Size	0
Interest rate (in percent)	0.00%
New debt recognized	€ 0
Installments	0
Bank loan outstanding	€ 13	17
CDN PGE [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	June 2021
Facility size \| Facility Size	900,000
Interest rate (in percent)	1.36%
New debt recognized	€ 0
Installments	8 quarterly
Bank loan outstanding	€ 675	900
CIC PGE [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	June 2021
Facility size \| Facility Size	2,200,000
Interest rate (in percent)	0.75%
New debt recognized	€ 0
Installments	8 quarterly
Bank loan outstanding	€ 1,650	2,200
BNP PGE [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	June 2021
Facility size \| Facility Size	4,900,000
Interest rate (in percent)	0.45%
New debt recognized	€ 0
Installments	8 quarterly
Bank loan outstanding	€ 3,675	4,900
Natixis PGE [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	June 2021
Facility size \| Facility Size	3,000,000
Interest rate (in percent)	0.40%
New debt recognized	€ 0
Installments	8 quarterly
Bank loan outstanding	€ 2,250	3,000
BPI PGE [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	July 2021
Facility size \| Facility Size	2,000,000
Interest rate (in percent)	2.25%
New debt recognized	€ 0
Installments	16 quarterly
Bank loan outstanding	€ 1,500	1,900
BPI Pret Taux Bonifie [Member]
Disclosure of detailed information about borrowings [line items]
Debt maturity date	November 2021
Facility size \| Facility Size	2,250,000
Interest rate (in percent)	2.25%
New debt recognized	€ 0
Installments	20 quarterly
Bank loan outstanding	€ 1,820	€ 2,250

Consolidated Statements of Other Comprehensive Loss - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of comprehensive income [abstract]
+ Net profit (loss)	€ (28,894)	€ (23,719)	€ 67,259
Actuarial gains and losses net of tax	(51)	258	216
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments	(785)	0	0
that will never be reclassified to profit or loss	(836)	258	216
Exchange differences on translation of foreign operations	2,340	(1,366)	113
that are or may be reclassified to profit or loss	2,340	(1,366)	113
Total comprehensive income (loss)	€ (27,390)	€ (24,827)	€ 67,589

- Definition

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

- Definition

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 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2023-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

+ Details

Employee Benefits

12 Months Ended

Dec. 31, 2023

Disclosure of information about defined benefit plans [abstract]

Disclosure of benefit payments undere company's french retirement entity

The following assumed (undiscounted) benefit payments under the Company's French retirement indemnity are expected to be paid as follows:


2024			0
2025			36
2026			0
2027			68
2028			62
Years 2029 and thereafter			3,035

Disclosure of employee benefits [text block]

EMPLOYEE BENEFITS

Accounting policies

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

25.1.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.

25.2.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.

25.3.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.

Detailed breakdown

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. Related expenses recorded for the years ended December 31, 2023 and December 31, 2022 amounted to €948, €876, 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 liability. At December 31, 2023 and December 31, 2022 pension provisions recorded were €978 and €782, respectively.

As part of the measurement of the retirement indemnity to employees, the following assumptions were used for all categories of employees in 2022 and 2023:


			Population			Permanent staff
			Retirement age			65
			Terms of retirement			Initiated by the employee
			Life expectancy			On the basis of the INSEE table (1)
			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)	2022/12/31		2023/12/31
Salary growth rate - in 2023	3.00	%	3.00	%
Salary growth rate - beyond	3.00	%	3.00	%
Discount rate (iboxx)	3.25	%	3.59	%

The discount rates are based on the market yield at December 31, 2022 and 2023 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 01, 2022						864
			Current service cost						169
			Interest cost on benefit obligation						8
			Actuarial losses / (gains) on obligation						—
			Past service costs						(258)
			Service paid to employees						—
			Defined benefit obligation as of December 31, 2022						782
			Current service cost						137
			Interest cost on benefit obligation						25
			Actuarial losses / (gains) on obligation						—
			Past service costs						51
			Service paid to employees						(18)
			Defined benefit obligation as of December 31, 2023						978

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

Retirement and post-employment benefits

Sensitivity of the Group's retirement and post-employment benefits

Changes in

Impact /

to a variation of the discount rate

assumptions /

present value of

(in € thousands)

discount rate

the undertaking

0.25

(28)

0.25

The following assumed (undiscounted) benefit payments under the Company's French retirement indemnity are expected to be paid as follows:


2024			0
2025			36
2026			0
2027			68
2028			62
Years 2029 and thereafter			3,035

Disclosure of defined benefit plans [text block]

As part of the measurement of the retirement indemnity to employees, the following assumptions were used for all categories of employees in 2022 and 2023:


			Population			Permanent staff
			Retirement age			65
			Terms of retirement			Initiated by the employee
			Life expectancy			On the basis of the INSEE table (1)
			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)	2022/12/31		2023/12/31
Salary growth rate - in 2023	3.00	%	3.00	%
Salary growth rate - beyond	3.00	%	3.00	%
Discount rate (iboxx)	3.25	%	3.59	%

Disclosure of net defined benefit liability (asset) [text block]

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 01, 2022						864
			Current service cost						169
			Interest cost on benefit obligation						8
			Actuarial losses / (gains) on obligation						—
			Past service costs						(258)
			Service paid to employees						—
			Defined benefit obligation as of December 31, 2022						782
			Current service cost						137
			Interest cost on benefit obligation						25
			Actuarial losses / (gains) on obligation						—
			Past service costs						51
			Service paid to employees						(18)
			Defined benefit obligation as of December 31, 2023						978

Disclosure of sensitivity analysis for actuarial assumptions [text block]

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

Retirement and post-employment benefits

Sensitivity of the Group's retirement and post-employment benefits

Changes in

Impact /

to a variation of the discount rate

assumptions /

present value of

(in € thousands)

discount rate

the undertaking

0.25

(28)

0.25

Description of accounting policy for employee benefits [text block]

EMPLOYEE BENEFITS

Accounting policies

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

25.1.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.

25.2.Defined contribution plans

25.3.Short-term employee benefits

Other provisions, contingent liabilities and contingent assets (Tables)

12 Months Ended

Dec. 31, 2023

Changes in other provisions [abstract]

Disclosure of change in provision


Change in provisions	As of	Increase	Decrease	Decrease	As of
(in € thousands)	2022/12/31		(used)	(unused)	2023/12/31



Provision for charges	61	0	(21)	0	40
TOTAL	61	0	(21)	0	40

Employee Benefits - Summary of Assumptions Used for Employees for the Measurement of Retirement Indemnity to Employees (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [line items]
Population Description	Permanent staff
Terms of retirement	Initiated by the employee
Life expectancy	On the basis of the INSEE table (1)
Probability of continued presence in the company at retirement age	On the basis of the DARES table
Discount rate (as a percent)	3.59%	3.25%
Within 1 Year
Disclosure of defined benefit plans [line items]
Salary growth rate (as a percent)	3.00%	3.00%
Beyond
Disclosure of defined benefit plans [line items]
Salary growth rate (as a percent)	3.00%	3.00%

Financial Risks Management - Summary of Cash, Cash Equivalents and Financial Assets (Details) € in Thousands, SFr in Thousands, $ in Thousands	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]
Cash and cash equivalents	€ 77,789			€ 136,001			€ 258,756	€ 171,029
Current and non current financial assets	4,125			9,464
Total	81,913			145,464
Denominated in EUR
Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]
Cash and cash equivalents	56,593			101,536
Current and non current financial assets	4,095			9,456
Total	60,689			110,993
Denominated in USD
Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]
Cash and cash equivalents	19,931	$ 22,023		32,057	$ 34,192
Current and non current financial assets	15			7
Total	19,946			32,064
Denominated In C H F
Disclosure Of Cash Cash Equivalents And Financial Assets [Line Items]
Cash and cash equivalents	1,200		SFr 1,111	2,358		SFr 2,321
Current and non current financial assets	14			0
Total	€ 1,214			€ 2,358

- Definition

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

Loans and Borrowings - Summary of Convertible Bonds (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Current convertible loans	€ 415	€ 415
Non-current convertible loans	52,206	49,861
OCEANE
Disclosure of detailed information about borrowings [line items]
Notes and debentures issued	€ 52,622	€ 50,276

Trade and Other Receivables

12 Months Ended

Dec. 31, 2023

Trade and other receivables [abstract]

Trade and Other Receivables

Trade and other receivables consisted of the following:


Trade and other receivables - Total	As of
(in € thousands)	2022/12/31	2023/12/31
Trade receivables, net	3,188	18,526
Research tax credit	11,299	12,200
Social security costs receivables	1	—
VAT receivables	1,288	1,476
Grants receivables	4	7
Other receivables	126	498
TOTAL	15,906	32,707
Of which : Current	15,906	32,707
Of which : Non-current	—	—

Trade receivables, net

Trade receivables amounted to €18,526 as of December 31, 2023. The balance mainly corresponds to revenue related to the our milestone receivable with Ipsen. Per IFRS 7.35(h), we have concluded that the expected credit loss on this amount is €0.

Trade receivables amounted to €3,188 as of December 31, 2022. The balance mainly corresponds to revenue related to the inventory purchase agreement with Ipsen.

Research tax credit

The research tax credit receivable for the year 2022 amounted to €11,299.

The research tax credit receivable for the year 2023 amounts to €12,200.

Note that there is also a tax inspection currently taking place as explained in Note 11 - "Income tax".

VAT receivables

The VAT receivable amounted to €1,476 at December 31, 2023.

The VAT receivable amounted to €1,288 at December 31, 2022.

Other receivables

The line item “other receivables” primarily consists of credit notes from suppliers for €498 and €126, respectively, as of December 31, 2023 and December 31, 2022.

Trade and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2023

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
(in € thousands)	2022/12/31	2023/12/31
Trade receivables, net	3,188	18,526
Research tax credit	11,299	12,200
Social security costs receivables	1	—
VAT receivables	1,288	1,476
Grants receivables	4	7
Other receivables	126	498
TOTAL	15,906	32,707
Of which : Current	15,906	32,707
Of which : Non-current	—	—

Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Earnings (Loss) Per Share

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, excluding shares held by GENFIT.

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).

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


Earnings per share	Year ended
	2021/12/31	2022/12/31	2023/12/31

Profit (loss) for the period (in € thousands)	67,259	(23,719)	(28,894)
Weighted average number of ordinary shares used to calculate basic earnings (loss) per share	44,739,756	49,673,936	49,700,223
Basic earnings (loss) per share (€/share)	1.51	(0.48)	(0.58)


Weighted average number of ordinary shares used to calculate diluted earnings (loss) per share	55,613,634	49,673,936	49,700,223
Diluted earnings (loss) per share (€/share)	1.23	(0.48)	(0.58)

The following table summarizes the potential common shares not included in the computation of diluted earnings per share because their impact would have been antidilutive:

Potential common shares not included in the computation of diluted earnings per share

Year ended

2023/12/31

BSA

35,070

STOCK OPTIONS

968,881

AGA

136,100

OCEANES

10,580,141

Litigation and Contingent Liabilities	12 Months Ended
Litigation and Contingent Liabilities	Dec. 31, 2023
Disclosure of contingent liabilities [abstract]
Litigation and Contingent Liabilities	LITIGATION Class Action In May 2020, following the Group announcement on the interim results of our RESOLVE-IT® Phase 3 clinical trial in which elafibranor had not achieved the primary or key secondary endpoints, a purported shareholder class action complaint was filed in state court in the Commonwealth of Massachusetts, naming the Group, the board of directors and certain members of the senior management as defendants, alleging that defendants 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. In October 2020, the plaintiff voluntarily dismissed the Commonwealth of Massachusetts action, but in December 2020, the same plaintiff filed a purported shareholder class action complaint in state court in the State of New York, alleging claims substantially similar to those in the previous complaint against the same defendants, as well as the underwriters of our U.S. initial public offering. In March 2021, the Company and the other defendants filed a motion to dismiss. In August 2021, the Supreme Court of the State of New York, New York County, granted the motion and dismissed the complaint with prejudice. The plaintiff appealed and in December 2022, the Supreme Court, Appellate Division, First Department affirmed the dismissal of the complaint, except that it deleted the phrase “with prejudice” from the Supreme Court’s judgment. The time to appeal the decision of the Appellate Division expired

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
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
Fixtures and fittings [member] \| Bottom of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	9 years
Fixtures and fittings [member] \| 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 [Member] \| 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 [Member] \| 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 [member] \| 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 [member] \| Top of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	5 years
Furniture [Member] \| Bottom of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	4 years
Furniture [Member] \| Top of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	10 years
Vehicles [member] \| Bottom of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	4 years
Vehicles [member] \| Top of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives for property, plant and equipment	6 years
Computer software [member] \| Bottom of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives of software and license agreements	1 year
Computer software [member] \| Top of Range
Disclosure of intangible assets with indefinite useful life [line items]
Estimated useful lives of software and license agreements	8 years

Summary of Significant Accounting Policies - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) bond	Dec. 31, 2022 EUR (€)	Dec. 31, 2021
Disclosure of voluntary change in accounting policy [line items]
Number of segment \| bond	1
Impairment loss	€ 9	€ 97
Research tax credit, carryforward period (in years)	3 years
Revenue By Destination	1	1	1
Revenue From France
Disclosure of voluntary change in accounting policy [line items]
Revenue By Destination	1	1	1
Revenue From Other Countries
Disclosure of voluntary change in accounting policy [line items]
Revenue By Destination	0	0	0
Computer software [member] \| Top of Range
Disclosure of voluntary change in accounting policy [line items]
Estimated useful lives of software and license agreements	8 years
Leased equipment
Disclosure of voluntary change in accounting policy [line items]
Impairment loss		€ 28

Label

Element

Value

Versantis [Member]

Disclosure of detailed information about business combination [text block]

ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory

The net book value of assets and liabilities as of December 31, 2022 is as follows, per the application of IAS 21:


Net assets, in thousands of euros			31/12/2022
Cash and cash equivalents			2,168
Current trade and others receivables			17
Other current assets			197
Intangible assets			43,850
Property, plant and equipment			295
Other non-current financial assets			13
Total assets			46,540

Current trade and other payables			1,614
Current provisions			672
Other current tax liabilities			33
Lease liabilities			282
Total liabilities			2,601

Net assets			43,939

Other comprehensive income that will not be reclassified to profit or loss, net of tax

ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax

€ 1,400,000

Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Summary of Earnings (Loss) Per Share

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


Earnings per share	Year ended
	2021/12/31	2022/12/31	2023/12/31

Profit (loss) for the period (in € thousands)	67,259	(23,719)	(28,894)
Weighted average number of ordinary shares used to calculate basic earnings (loss) per share	44,739,756	49,673,936	49,700,223
Basic earnings (loss) per share (€/share)	1.51	(0.48)	(0.58)


Weighted average number of ordinary shares used to calculate diluted earnings (loss) per share	55,613,634	49,673,936	49,700,223
Diluted earnings (loss) per share (€/share)	1.23	(0.48)	(0.58)

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Free Shares (Details)	12 Months Ended
	Dec. 31, 2023 shares € / shares	Dec. 31, 2022 shares € / shares	Dec. 31, 2021 shares € / shares	Dec. 31, 2020	Dec. 31, 2019 € / shares	Dec. 31, 2018	Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided (in shares)	0	36,690
Total number of AGA definitively vested (in shares)	0	0
Total number of BSAAR subscribed (in shares)	35,070	35,070	71,760
AGA S 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)	30,900
Total number of BSAAR voided (in shares)	2,300
Total number of BSAAR subscribed (in shares)	28,600
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	30,900
AGA D 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)	10,000
Total number of BSAAR subscribed (in shares)	10,000
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	10,000
AGA D
Disclosure of terms and conditions of share-based payment arrangement [line items]
Acquisition period			From 03/30/2021 to 03/31/2024
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 4.00
Expected dividends			0.00%
Expected volatility			51.00%
Risk-free interest rate			(0.59%)
Turnover rate			0.00%
AGA S
Disclosure of terms and conditions of share-based payment arrangement [line items]
Acquisition period			From 03/17/2021 to 03/31/2024
Valuation method used		Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 4.15
Expected dividends			0.00%
Expected volatility			51.00%
Risk-free interest rate			(0.59%)
Turnover rate			0.00%
AGA D and S
Disclosure of terms and conditions of share-based payment arrangement [line items]
Acquisition period	From 03/10/2023to 03/13/2026	From 10/14/2022 to 10/16/2025			From 07/18/2019 to 09/16/2022
Valuation method used	Monte Carlo			Monte Carlo	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 4.05	€ 4.08			€ 17.06
Expected dividends	0.00%	0.00%			0.00%
Expected volatility	84.30%	50.00%			40.20%
Risk-free interest rate	3.06%	2.24%			0.00%
Turnover rate	0.00%	0.00%			0.00%
AGA D and S 2017-1 and 2017-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Valuation method used						Monte Carlo
AGA D and S 2016-1 and 2016-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Valuation method used							Monte Carlo
S O
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided (in shares)	26,500	38,229
Total number of BSAAR subscribed (in shares)	968,881	805,181	634,035
Acquisition period		From 17/10/2022 to 17/10/2025
Valuation method used	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	190,200	209,375
AGA D 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		20,000
Total number of BSAAR subscribed (in shares)	20,000	20,000
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		20,000
AGA S 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		32,400
Total number of BSAAR voided (in shares)	300	2,700
Total number of BSAAR subscribed (in shares)	26,000	26,300	29,000
AGA S 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		39,200
Total number of BSAAR voided (in shares)	2,400	300
Total number of BSAAR subscribed (in shares)	36,500	38,900
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		39,200
AGA D 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		15,000
Total number of BSAAR subscribed (in shares)	15,000	15,000	15,000
A G A S2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		17,556
Total number of AGA definitively vested (in shares)		10,782
Total number of BSAAR subscribed (in shares)		0	10,782
A G A D2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of AGA subscribed (in shares)		19,070
Total number of BSAAR voided (in shares)		4,356
Total number of AGA definitively vested (in shares)		8,712
Total number of BSAAR subscribed (in shares)		0	13,068
A G A
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided (in shares)	5,000	7,356
Total number of AGA definitively vested (in shares)	0	19,494
Total number of BSAAR subscribed (in shares)	136,100	100,200	67,850
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	40,900	59,200

Deferred Income and Revenue (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Revenue	€ 38,176	€ 26,566	€ 85,579
Other income	9,610	6,371	5,510
Other income	9,610	6,371	5,510
Other Operating Income [Member]
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Other income	464	320	223
Licensing Agreement
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Deferred income including contract liabilities			40,000
Revenue			120,000
Partial recognition of deferred revenue	8,700	15,900
Ipsen
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Upfront payment received	120,000
Deferred income	40,000
Deferred income current	11,600	14,400
Deferred income non-current	3,800	9,700
Deferred income other than contract liabilities	15,300	24,100
Revenue	8,700	15,900
Ipsen \| Licensing Agreement
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Revenue	13,300		80,000
Ipsen \| Transition Services Agreement
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Revenue	€ 6,500	1,000
Ipsen \| Inventory Purchase Agreement
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Revenue		€ 3,300
Labcorp \| License Agreements
Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]
Other income			€ 69

Other Financial Assets (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Financial Assets [Abstract]

Summary of Other Financial Assets

Financial detail

Other financial assets consisted of the following:


Financial assets - Total	As of
(in € thousands)	2022/12/31	2023/12/31
Non consolidated equity investments	3,133	2,348
Other investments	483	471
Financial investments	4,550	—
Loans	428	472

Deposits and guarantees	335	303
Liquidity contract	534	531
TOTAL	9,464	4,125
Of which : Current	4,550	—
Of which : Non-current	4,914	4,125


Financial assets - Variations	As of	Increase	Decrease	As of
(in € thousands)	31/12/2022			31/12/2023
Non consolidated equity investments	3,133	—	(785)	2,348
Other investments	483	0	(12)	471
Financial investments	4,550	—	(4,550)	—
Loans	428	44	—	472

Deposits and guarantees	335	35	(68)	303
Liquidity contract	534	0	(3)	531
TOTAL	9,464	80	(5,419)	4,125

Operating Income (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Income [Abstract]

Schedule of Other Income

The breakdown of Other income is as follows:


Other income	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
CIR tax credit	5,282	6,017	5,807
Other operating income	223	320	464
Government grants and subsidies	5	34	3,340
TOTAL	5,510	6,371	9,610

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2023

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)	2022/12/31	2023/12/31
Short-term deposits	119,090	67,530
Cash on hand and bank accounts	16,910	10,258
TOTAL	136,001	77,789

Short-term deposits

As of

(in € thousands)

2022/12/31

2023/12/31

TERM ACCOUNTS

119,090

67,530

TOTAL

119,090

67,530

Income Tax - Breakdown of Deferred Taxes by Nature (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset)	€ (510)	€ (602)
Impact on equity	0	0
Impact on the profit/loss	(55)	(93)
Deferred tax assets	1,275
Deferred tax liability (asset)	(455)	(510)	€ (602)
+ Net profit (loss)	(28,894)	(23,719)	67,259
Tax expense (income)	€ 380	€ (116)	€ 2,215
Average effective tax rate	1.33%	(0.49%)	(3.19%)
Profit (loss) before tax	€ (28,514)	€ (23,836)	€ 69,474
Applicable tax rate	25.00%	25.00%	27.37%
Tax expense (income) at applicable tax rate	€ (7,129)	€ (5,959)	€ 19,018
Tax Effect Of Tax Credits	(1,452)	(1,504)	(1,512)
Tax Effect Of Permanent Differences	153	31	(833)
Tax effect of foreign tax rates	840	67	(7,323)
Tax effect of tax losses	7,832	7,037	0
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense	0	0	5,590
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense	145	61	129
Deferred tax expense (income) relating to origination and reversal of temporary differences	(454)	(331)	24
Tax Effect Of Recognition Of Deferred Tax Assets Against Deferred Tax Liabilities	418	453	(430)
Tax Effect Of Renegotiation Of Convertible Debt	0	0	(1,370)
Other tax effects for reconciliation between accounting profit and tax expense (income)	€ 28	29	102
Temporary difference from postemployments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Temporary differences		€ 244	€ 195

Employee Benefits - Summary of Sensitivity of the Retirement and Post-Employment Benefits to a Variation of the Discount Rate (Details) € in Thousands	Dec. 31, 2023 EUR (€)
Disclosure of information about defined benefit plans [abstract]
Changes in assumptions/discount rate (as a percent)	0.25%
Impact/present value of the undertaking	€ (28)
Changes in assumptions/discount rate (as a percent)	0.25%
Impact/present value of the undertaking	€ 29

Equity - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Shareholder paid-in and registered period for double voting rights (in years)	2 years
Capital increase		€ 0	€ 65,332
Issuance of new shares (in shares)	49,834,983	49,834,983
Treasury shares	0	0
+ Proceeds from issue of share capital (net)	€ 0	€ 5	€ 27,972
Total number of shares comprising the share capital (in shares)	49,834,983	49,834,983
Additional share based instruments issued (in shares)	525,000
Increase (decrease) through other changes, equity	€ (227)	€ (5)
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Issuance of new shares (in shares)	49,834,983	49,834,983
Preference shares [member]
Disclosure of classes of share capital [line items]
Issuance of new shares (in shares)	0	0

Operating Expense

12 Months Ended

Dec. 31, 2023

Operating Expense [Abstract]

Operating Expense

OPERATING EXPENSES


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2021/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(35,166)	(1,305)	(18,808)	(8,192)	(4,593)	(2,247)	(19)
General and administrative income (expenses)	(16,153)	(161)	(85)	(7,379)	(8,003)	(541)	15
Marketing and market access expenses	(1,539)	(1)	(1)	(783)	(741)	(13)	—
Reorganization and restructuring income (expenses)	(142)	(5)	—	—	(2,343)	2,206	—
Other operating income (expenses)	(763)	—	—	—	(338)	4	(429)
TOTAL	(53,763)	(1,472)	(18,895)	(16,354)	(16,019)	(591)	(433)


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2022/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(35,818)	(1,876)	(17,407)	(10,029)	(5,177)	(1,328)	—
General and administrative expenses	(16,405)	(248)	(71)	(6,772)	(9,168)	(146)	—
Marketing and market access expenses	(992)	(3)	(1)	(565)	(416)	(6)	—
Reorganization and restructuring income (expenses)	11	—	—	—	—	11	—
Other operating income (expenses)	(652)	—	—	—	(667)	—	16
TOTAL	(53,855)	(2,128)	(17,479)	(17,366)	(15,429)	(1,469)	16


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2023/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(46,503)	(1,831)	(23,455)	(12,475)	(7,452)	(1,291)	—
General and administrative expenses	(17,741)	(337)	(205)	(7,486)	(9,396)	(317)	—
Marketing and market access expenses	(876)	(4)	(1)	(556)	(300)	(14)	—
Reorganization and restructuring income (expenses)	505	—	—	—	—	505	—
Other operating income (expenses)	(141)	—	—	—	(222)	—	81
TOTAL	(64,756)	(2,172)	(23,661)	(20,517)	(17,370)	(1,117)	81

2022 Activity

Research and Development Expenses

The increase in research and development costs is generally explained by the increase in costs related to new programs and product candidates, in particular NTZ, VS-01 and GNS561, offset by the sharp reduction in study costs related to RESOLVE-IT®.

General and Administrative Expenses

The increase in general and administrative expenses is broadly explained by the increase in costs related to liability insurance, the increase in costs related to consulting fees, and other charges in the normal course of business.

Marketing and Market Access Expenses

This decrease is mainly explained by the decrease in marketing activity in the United States and France.

Reorganization and Restructuration Expenses

Reorganization and restructuration expenses were not significant.

2023 Activity

Research and Development Expenses

The increase in research and development costs is generally explained by the increase in costs related to new programs and product candidates, in particular VS-01 and GNS561, offset by a reduction in costs related to NTZ.

General and Administrative Expenses

The increase in general and administrative expenses is broadly explained by an increase headcount in the normal course of business.

Marketing and Market Access Expenses

This decrease is mainly explained by the decrease in marketing activity in the United States and France.

Reorganization and Restructuration Expenses

Reorganization and restructuration expenses were not significant. The income in 2023 relates solely to the reversal of a prior year provision related to unused office space.

Employee expenses

Employee expenses and number of employees were as follows:


Employee expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Wages and salaries	(10,328)	(12,188)	(14,524)
Social security costs	(4,775)	(4,765)	(5,296)
Changes in pension provision	(154)	(169)	(119)
Employee profit-sharing	(628)	—	—
Share-based compensation	(470)	(245)	(578)
TOTAL	(16,354)	(17,366)	(20,517)


Number of employees at year-end	Year ended
	2021/12/31	2022/12/31	2023/12/31
Average number of employees	122	133	154
Number of employees
Research and development	55	73	78
Services related to research and development	18	18	18
Administration and management	47	55	61
Marketing and commercial	2	2	2
TOTAL	122	148	159

The increase in employee expenses resulted mainly from an increase in workforce of the average headcount from 133 in 2022 to 154 in 2023.

Research and development expenses

Accounting policies - Research and development expenses

Research expenses are recorded in the financial statements as expenses.

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.

As of the date of these financial statements, these criteria have not all been metClassification 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;

•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 and reversals of provisions in relation to the Research Tax Credit dispute.

Operating Expense - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) employee	Dec. 31, 2022 EUR (€) employee	Dec. 31, 2021 EUR (€) employee
Disclosure Of Operating Expense [Line Items]
Average number of employees \| employee	154	133	122
Share-based compensation annual expense	€ 578	€ 245	€ 470
Profit sharing granted to employees	0	0	628
Research and development expense	€ 46,503	€ 35,818	€ 35,166

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Disclosure of voluntary change in accounting policy [abstract]
Use of estimates and judgments	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. Significant estimates mainly relate to the following: •Allocation of income to the performance obligations provided for in the agreement entered into with Ipsen, see Note 7 - "Revenues and Other Income") •Research tax credits, see Note 7.2 - "Revenues and Other Income - Other income" •Accruals related to clinical trials, see Note 8 - "Operating expenses" •Share-based payments, see Note 9 - "Share-based compensation" •Valuation of our VS-01 assets related to the Versantis acquisition, see Note 14 - "Goodwill and intangible assets" •Valuation of our license rights acquired, see Note 14 - "Goodwill and intangible assets" •Leases, see Note 15 - “Property, plant and equipment including Leases” •Valuation of our investments in Genoscience, see Note 18 - "Other financial assets" •Convertible loans, see Note 20 - "Loans and B orrowings" •Employee benefits, see Note 25 - "Employee benefits".
Consolidation	Consolidation Going concern The consolidated financial statements were prepared on a going concern basis. The Group believes it has sufficient resources to continue operating for at least twelve months following the consolidated financial statements’ publication. When assessing going concern, the Group’s Board of Directors considers the liquidity available at the statement of financial position date, milestones whose collection is considered highly probable (subject to approval by applicable regulatory authorities and US and European commercial launches of elafibranor in PBC), the cash spend projections for the next 12-month period as from the date of the financial statements are issued, and the availability of other funding. Consolidated entities 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. GENFIT Pharmaceuticals SAS was dissolved on December 23, 2022 in accordance with article 1844-5 of the Civil Code in France. All assets and liabilities of the company was transferred to GENFIT SA. Versantis Inc was dissolved on June 2, 2023. All assets and liabilities of the company were transferred to Versantis AG. The impact to the financial statements was not material.
Foreign currency	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.
Revenues from ongoing activities under client agreements	Revenues from contracts with customers Accounting policy overview 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; and •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.
Intangible assets	Goodwill The company does not have any goodwill. 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.
Leases	Leases 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 of the lessee. 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. The amount of short term or low value leases which are not included in the IFRS 16 model is not material.
Inventories	INVENTORIES The Company recognizes inventories of laboratory consumables. 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	TRADE AND OTHER RECEIVABLES Accounting policies 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. Impairment losses on trade accounts receivable are estimated using the expected loss method, in order to take account of the risk of payment default throughout the lifetime of the receivables. Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date, according to IFRS 9 standards ("expected credit loss"). OTHER FINANCIAL ASSETS Accounting policies A financial asset is initially recognized as measured at amortized cost, at fair value through other comprehensive income - debt instrument, at fair value through other comprehensive income - equity instrument, or at fair value through profit or loss. Financial assets will not be reclassified after initial recognition, unless we change our economic model of financial asset management. If so, all affected financial assets would be reclassified as of the first day of the first reporting period following the change in economic model. No such reclasses have taken place in any period presented herein. A financial asset is measured at amortized cost if both of the following conditions are met, and if it is not measure at fair value through profit or loss: •Its ownership is part of an economic model of which the objective is to hold assets in order to receive its contractual cash flows; •Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount. A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met, and if it is not measure at fair value through profit or loss: •Its ownership is part of an economic model of which the goal is met through both the receipt of contractual cash flows and the sale of financial assets; •Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount. At the time of initial recognition of an equity instrument that is not held for trading, we may irrevocably choose to present future changes in fair value in other comprehensive income. This choice is made for each investment. All financial assets that are not categorized as measured at amortized cost or at fair value through other comprehensive income as previously described are measured at fair value through profit or loss.
Cash and cash equivalents	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).
Equity	EQUITY Accounting policies 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 Group has a liquidity agreement, 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 18 - “Other financial assets”
Loans and borrowings	LOANS AND BORROWINGS Accounting policies 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 (OCEANEs—see Note 20.1 - "Breakdown of convertible loan") are recognized as follows: in accordance with IAS 32, Financial Instruments—Presentation, if a financial instrument has different components and the characteristics indicate that some should 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 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 pro rata portion of the transaction expenses attributed to the 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.
Trade and other payables	TRADE AND OTHER PAYABLES Accounting policies 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.
Provisions	Provisions Accounting policies In accordance with IAS 37, Provisions Contingent Liabilities and Contingent Assets, 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. A provision for reorganization is recognized when the Group has approved a formal and detailed plan for its reorganization and has either started to implement it or publicly disclosed it. A provision for onerous contract is estimated at the actual value of the lowest expected cost of either the cancellation or the execution of the contract, the latter being established on the basis of the additional costs required to fulfill the obligations stipulated by the contract. Before a provision is established, the Group recognizes any impairment loss that occurred on the assets dedicated to this contract.
Description of accounting policy for employee benefits [text block]	EMPLOYEE BENEFITS Accounting policies The Group's pension schemes and other post-employment benefits consist of defined benefit plans and defined contribution plans. 25.1.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. 25.2.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. 25.3.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.
Other income	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 16 - "Trade and other receivables" and the table below).
Research and development expenses	Accounting policies - Research and development expenses Research expenses are recorded in the financial statements as expenses. 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. As of the date of these financial statements, these criteria have not all been metClassification 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; •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 and reversals of provisions in relation to the Research Tax Credit dispute.
Classification of operating expenses	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; •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 and reversals of provisions in relation to the Research Tax Credit dispute. 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 preclinical trials that are necessary to the development of GENFIT's drug candidates and biomarker candidates. 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. For regulatory reasons, research services for clinical trials and the production of active ingredients and therapeutic units are contracted out to third parties. 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.); 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; and •marketing, and market access firm fees. Reorganization and restructuring expenses include: •(2022 and prior) the accruals and provisions recognized within the scope of the reduction in force plan; •(2022 and prior) the extraordinary amortization, loss of value and impairment of fixed assets recognized within the scope of the reorganization of GENFIT; •(2022 and prior) the impairment of the right of use of the leased equipment and premises; •(2022 and prior) the portion of the OCEANEs renegotiation expenses; •(2023 and prior) the provision (and subsequent reversals) recognized for some of the costs of the closing process for the RESOLVE-IT® study, which, after detailed analysis, do not have any future economic advantage for the PBC program. Other operating expenses include: •Legal fees, audit and accounting fees; •Advisor fees (banking, press relations, communication, IT, market access, marketing, scientific advising); •Intellectual property expenses, including in particular the charges and fees incurred by the Company for patent applications and maintenance; •Expenses related to insurance, notably those triggered by the Company listing on the Nasdaq since 2019; •Expenses related to the rental, use, and maintenance of the Group's premises; •Expenses related to external personnel contracted out to the company (safety and security, front desk, clinical and IT services); and •Expenses related to travel and conferences, including mainly employee travel costs as well as scientific, medical, financial and business development conference registration fees.
Share-based compensation	Accounting policies 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. Evaluation models The fair value of equity-settled share-based compensation granted to employees are measured using i) the Black-Scholes model for share warrants ("Bons de Souscriptions d'Actions" or "BSA") and stock options ("SO") and ii) the Monte Carlo model for free shares ("actions gratuites" or "AGA"). Data and key assumptions used in evaluations For evaluating BSAs, the following data and key assumptions are utilized in accordance with IFRS 2 - Share based payment: issue price, exercise price, expected volatility, exercise period, expected dividends, risk free interest rate (based on government bonds), and conversion ratio. For evaluating AGAs, the following data and key assumptions are utilized in accordance with IFRS 2 - Share based payment: grant date, share price at grant date, expected volatility, vesting period, expected dividends, risk free interest rate (based on government bonds), conversion ratio, and expected employee turnover. For evaluating SOs, the following data and key assumptions are utilized in accordance with IFRS 2 - Share based payment: grant date, share price at grant date, exercise price, expected volatility, vesting period, exercise period, expected dividends, risk free interest rate (based on government bonds), conversion ratio, and expected employee turnover. Regarding SOs and AGAs, 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. 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 three-year period prior to the grant date, adjusted for extreme variations, if any. Consultants 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.
Income tax	Accounting policies 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.
Earnings (loss) per share	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, excluding shares held by GENFIT. 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).
Operating segments	SEGMENT INFORMATION 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 and diagnostic solutions, the marketing of which depends on the success of the clinical development phase.

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based 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 by plan:


Share-based compensation - expense	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
SO 2018	186	—	—
SO US 2018	24	—	—
AGA S 2019	39	50	—
AGA D 2019	16	6	—
SO 2019	105	(21)	—
SO 2019 - US	(11)	(16)	—
BSA 2019	—	—	—
SO US 2019	(7)	—	—
SO D 2020	14	14	14
SO C 2020	40	40	40
SO US 2020	19	19	(7)
AGA S 2021	29	32	34
AGA D 2021	5	7	7
SO D 2021	2	13	12
SO C2021	9	55	50
SO US 2021	2	9	9
AGA S 2022	—	11	49
AGA D 2022	—	2	11
SO D 2022	—	4	18
SO C 2022	—	17	83
SO US 2022	—	4	18
SO SU 2022	—	—	4
AGA S 2023	—	—	47
AGA D 2023	—	—	12
SO D 2023	—	—	31
SO C 2023	—	—	104
SO US 2023	—	—	27
SO SU 2023	—	—	16














TOTAL	470	245	578

Share Warrants

Disclosure of terms and conditions of share-based payment arrangement [line items]

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


Share warrants (BSA)	2019		2017
	BSA 2019		BSA 2017-A		BSA 2017-B
Option pricing model	Black Scholes
Fair value per IFRS 2	€0.75		€3.78		€3.81
Issue price	€1.23		€2.00		€2.00
Exercise price	€12.32		€19.97		€19.97
Expected volatility	40.0	%	36.4	%	35.7	%
End of exercise period	2024/05/31		2022/06/30		2022/07/15
Expected dividends	0	%	0	%	0	%
Risk free interest rate	0	%	0	%	0	%
Conversion ratio	1:1		1:1		1:1

Free Shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

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

The following table summarizes the data relating to free shares and the assumptions used for the measurement thereof, in accordance with IFRS 2—Share-based Payment:


Free Shares (AGA)	2023		2022		2021				2019
	AGA D & S 2023		AGA D & S 2022		AGA S 2021		AGA D 2021		AGA D & S 2019
Option pricing model	Monte Carlo
Fair value per IFRS 2	€4.05		€4.08		€4.00		€4.15		€17.06
Grant date	03/10/2023		10/14/2022		03/30/2021		03/17/2021		07/18/2019
Share price at grant date	€4.05		€4.08		€4.00		€4.15		€17.06
Expected volatility	84.3	%	50	%	51	%	51	%	40.2	%
Vesting period	From 03/10/2023 to 03/13/2026		From 10/14/2022 to 10/16/2025		From 03/30/2021 to 03/31/2024		From 03/17/2021 to 03/31/2024		From 07/18/2019 to 09/16/2022
Expected dividends	0	%	0	%	0	%	0	%	0	%
Risk free interest rate	3.06	%	2.24	%	-0.59	%	-0.59	%	0	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%

Information on free shares activity is as follows for 2022:


Grant Date	Type	AGAs issued	AGAs outstanding as of January 1, 2022	AGAs awarded	AGAs vested	AGAs cancelled/ forfeited	AGAs outstanding as of December 31, 2022
10/14/2022	AGA S 2022	39,200		39,200		300	38,900
10/14/2022	AGA D 2022	20,000		20,000			20,000
03/30/2021	AGA S 2021	32,400	29,000			2,700	26,300
03/17/2021	AGA D 2021	15,000	15,000				15,000
07/18/2019	AGA S 2019	17,556	10,782		10,782		0
07/18/2019	AGA D 2019	19,070	13,068		8,712	4,356	0
TOTAL			67,850	59,200	19,494	7,356	100,200

Stock Options

Disclosure of terms and conditions of share-based payment arrangement [line items]

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

The following tables summarize the data relating to stock options and the assumptions used for the measurement thereof, in accordance with IFRS 2—Share-based Payment:


Stock options (SO)	2023
	SO SU 2023		SO D 2023		SO C 2023		SO US 2023
Option pricing model	Black Scholes
Fair value per IFRS 2	€2.39		€2.19		€2.39		€2.19
Grant date	3/13/2023		3/13/2023		3/13/2023		3/13/2023
Share price at grant date	€4.00		€4.00		€4.00		€4.00
Exercise price	€3.26		€4.07		€3.26		€4.05
Expected volatility	83.74	%	83.74	%	83.74	%	83.74	%
Vesting period	From 03/13/2023 to 03/13/2026
Exercise period	From 03/14/2023 to 03/13/2033
Expected dividends	0	%	0	%	0	%	0	%
Risk free interest rate	2.75	%	2.75	%	2.75	%	2.75	%
Conversion ratio	1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%


Stock options (SO)	2022								2021
	SO SU 2022		SO D 2022		SO C 2022		SO US 2022		SO D 2021		SO C 2021		SO US 2021
Option pricing model	Black Scholes
Fair value per IFRS 2	€1.40		€1.57		€1.90		€1.56		€1.06		€1.30		€1.07
Grant date	12/2/2022		10/17/2022		10/17/2022		10/17/2022		10/20/2021		10/20/2021		10/20/2021
Share price at grant date	€3.46		€4.16		€4.16		€4.16		€3.24		€3.24		€3.24
Exercise price	€2.95		€3.91		€3.12		€3.94		€3.26		€2.61		€3.22
Expected volatility	49.0	%	50.0	%	50.0	%	50.0	%	50.0	%	50.0	%	50.0	%
Vesting period	From 3/12/2022 to 3/12/2025		From 17/10/2022 to 17/10/2025						From 20/10/2021 to 20/10/2024
Exercise period	From 3/12/2022 to 3/12/2032		From 18/10/2025 to 17/10/2032						From 21/10/2024 to 21/10/2031
Expected dividends	0	%	0	%	0	%	0	%	0	%	0	%	0	%
Risk free interest rate	2.1	%	2.24	%	2.24	%	2.24	%	-0.6	%	-0.6	%	-0.6	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%	0	%	0	%


Stock options (SO)	2020						2019
	SO D 2020		SO C 2020		SO US 2020		SO 2019		SO US 1 2019		SO US 2 2019
Option pricing model	Black Scholes
Fair value per IFRS 2	€1.16		€1.46		€1.12		€4.59		€3.67		€3.23
Grant date	12/31/2020		12/31/2020		12/31/2020		7/18/2019		7/18/2019		11/27/2019
Share price at grant date	€3.99		€3.99		€3.99		€17.06		€17.06		€14.50
Exercise price	€4.38		€3.50		€4.52		€13.99		€16.90		€14.31
Expected volatility	49.0	%	49.0	%	49.0	%	40.0	%	40.0	%	40.0	%
Vesting period	From 31/12/2020 to 31/12/2023						From 18/07/2019 to 16/09/2022				From 27/11/2019 to 16/01/2023
Exercise period	From 01/01/2024 to 31/12/2027						From 17/09/2022 to 17/09/2029				From 17/01/2023 to 17/01/2030
Expected dividends	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%
Risk free interest rate	-0.7	%	-0.7	%	-0.7	%	0.0	%	0.0	%	0.0	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%	0	%


Stock options (SO)	2018				2017		2016
	SO 2018		SO US 2018		SO 2017		SO 2016
Option pricing model	Black Scholes
Fair value per IFRS 2	€9.32		€6.90		€9.32		€10.30
Grant date	11/7/2018		11/7/2018		12/6/2017		12/15/2016
Share price at grant date	€22.10		€22.10		€21.95		€20.79
Exercise price	€16.00		€21.65		€17.91		€15.79
Expected volatility	44.1	%	44.1	%	53.7	%	63.0	%
Vesting period	From 07/11/2018 to 31/12/2021				From 06/12/2017 to 31/12/2020		From 15/12/2016 to 15/12/2019
Exercise period	From 01/01/2022 to 31/12/2028				From 01/01/2021 to 31/12/2027		From 16/12/2019 to 16/12/2026
Expected dividends	0	%	0	%	0	%	0	%
Risk free interest rate	0.0	%	0.0	%	0.0	%	0.0	%
Conversion ratio	1:1		1:1		1:1		1:1
Expected employee turnover	15	%	15	%	15	%	15	%

In 2019, the Group 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.

Definitive vesting is subject to continued employment with the Group and performance conditions.

Information on stock options activity is as follows for 2023:


Grant Date	Type	SO issued	SO outstanding as of January 1, 2023	SO awarded	SO cancelled/ forfeited	SO exercised	SO outstanding as of December 31, 2023	SO exercisable as of December 31, 2023
03/13/2023	SO SU 2023	16,300		16,300			16,300
03/13/2023	SO D 2023	35,000		35,000			35,000
03/13/2023	SO C 2023	108,700		108,700			108,700
03/13/2023	SO US 2023	30,200		30,200			30,200
02/12/2022	SO SU 2022	8,750	8,750				8,750	0
10/17/2022	SO D 2022	35,000	35,000				35,000	0
10/17/2022	SO C 2022	131,000	131,000				131,000	0
10/17/2022	SO US 2022	34,625	34,625				34,625	0
10/20/2021	SO D 2021	35,000	35,000				35,000	0
10/20/2021	SO C 2021	134,375	124,375		4,000		120,375	0
10/20/2021	SO US 2021	32,500	25,000				25,000	0
12/31/2020	SO D 2020	35,000	35,000				35,000	35,000
12/31/2020	SO C 2020	103,750	81,250				81,250	81,250
12/31/2020	SO US 2020	56,250	50,000		22,500		27,500	27,500
07/18/2019	SO 2019	107,880	51,343				51,343	51,343
07/18/2019	SO US 1 2019	30,620	5,113				5,113	5,113
11/07/2018	SO 2018	122,000	68,329				68,329	68,329
11/07/2018	SO US 2018	17,500	9,713				9,713	9,713
12/06/2017	SO 2017-1	64,164	43,212				43,212	43,212
12/06/2017	SO 2017-2	32,086	17,765				17,765	17,765
12/15/2016	SO 2016-1	41,917	34,398				34,398	34,398
12/15/2016	SO 2016-2	20,958	15,308				15,308	15,308
TOTAL			805,181	190,200	26,500	0	968,881	388,931

Information on stock options activity is as follows for 2022:


Grant Date	Type	SO issued	SO outstanding as of January 1, 2022	SO awarded	SO cancelled/ forfeited	SO exercised	SO outstanding as of December 31, 2022	SO exercisable as of December 31, 2022
02/12/2022	SO SU 2022	8,750		8,750			8,750	0
10/17/2022	SO D 2022	35,000		35,000			35,000	0
10/17/2022	SO C 2022	131,000		131,000			131,000	0
10/17/2022	SO US 2022	34,625		34,625			34,625	0
10/20/2021	SO D 2021	35,000	35,000				35,000	0
10/20/2021	SO C 2021	134,375	134,375		10,000		124,375	0
10/20/2021	SO US 2021	32,500	25,000				25,000	0
12/31/2020	SO D 2020	35,000	35,000				35,000	0
12/31/2020	SO C 2020	103,750	81,250				81,250	0
12/31/2020	SO US 2020	56,250	50,000				50,000	0
07/18/2019	SO 2019	107,880	77,015		25,672		51,343	51,343
07/18/2019	SO US 1 2019	30,620	7,670		2,557		5,113	5,113
11/07/2018	SO 2018	122,000	68,329				68,329	68,329
11/07/2018	SO US 2018	17,500	9,713				9,713	9,713
12/06/2017	SO 2017-1	64,164	43,212				43,212	43,212
12/06/2017	SO 2017-2	32,086	17,765				17,765	17,765
12/15/2016	SO 2016-1	41,917	34,398				34,398	34,398
12/15/2016	SO 2016-2	20,958	15,308				15,308	15,308
TOTAL			634,035	209,375	38,229	0	805,181	245,181

Performance Conditions

Disclosure of terms and conditions of share-based payment arrangement [line items]

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

Performance conditions of 2023 plans


Plans			Nature of performance conditions
SO D 2023 SO C 2023 SO US 2023 SO SU 2023 AGA S 2023 AGA D 2023 Evaluation date for performance conditions: 3/13/2026			Internal conditions - a) 50% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 5,000 of the Free Shares for the AGA D 2023 will be vest, if during 2023 and then at any time during the Vesting Period, 2 new R&D programs (at the rate of one-half of these 2023 instruments per new program), join the Company’s R&D pipeline (as evaluated at December 31, 2022) ; and that these programs are at the clinical development stage at the time they join the pipeline or that they later enter this stage, following: (i) A business development transaction (in-licensing, M&A, etc.) or, (ii) Identification of new opportunities resulting from in-house research (program going from preclinical development stage to clinical development stage). b) 25% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 2,500 of the Free Shares for the AGA D 2023 will vest, if at least one of the two following conditions related to development of elafibranor in PBC is met: (i) Filing of the Marketing Authorization Application in the fourth quarter of 2023 (in Europe or the United States); (ii) Marketing Authorization obtained in 2024 (in Europe or the United States). c) 15% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 1,500 of the Free Shares for the AGA D 2023 will vest, if at least one of the two following conditions related to the development of the ACLF program is met: (i) VS-01 in ACLF: top-line results from the Phase 2 study obtained in 2024 or communication of final results on the Phase 2 study in 2025; (ii) NTZ : start of a Phase 2 clinical trial in the second half of 2023. d) 10% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 1,000 of the Free Shares for the AGA D 2023 will vest, if intermediate results in the Phase 1b/2 of GNS561 are obtained in the fourth quarter 2024 or final results obtained in 2025. External conditions - Each applicable portion of all 10,000 Free Shares under the AGA D 2023 plan, as each Internal Conditions above is met, is then subject to the External Condition according to the methods described below. The degree of fulfillment of the External Condition relating to the Company's stock market price will be determined according to the relative performance of GENFIT shares. Each applicable portion of all 10,000 Free Shares under the AGA D 2023 plan, as each Internal Conditions above is met, will be definitively acquired per the following conditions: (a) No AGA D 2023 shall vest if the Final Price is strictly lower than the Initial Price; (b) If the Final Price is between (i) a value equal to or greater than the Initial Price and (ii) a value lower than the Ceiling Price, the number of AGA D 2023 definitively allocated will be equal to: [(Final Price / Initial Price) -1] x 1/2 of the number of AGA D 2023 instruments (c) All AGA D 2023 if the Final Price is equal to or higher than the Ceiling Price. The notions of “Final Price”, “Initial Price” and “Ceiling Price” are defined in the plan regulations.

Performance conditions of 2022 plans


Plans			Nature of performance conditions
SO D 2022 SO C 2022 SO US 2022 SO SU 2022 AGA S 2022 AGA D 2022 Evaluation date for performance conditions: - 10/17/2025 for SO D 2022/SO C 2022/SO US 2022/AGA S 2022/AGA D 2022 - 12/3/2025 for SO SU 2022			Internal conditions - a) 50% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 10,000 of the Free Shares for the AGA D 2022 will vest, if during the 2022 financial year and then at any time during the Vesting Period, 3 new R&D programs (at the rate of one third of these 2022 instruments per new program) complete the Company's R&D program portfolio (as it was at 12/31/2021); that these programs are at the so-called clinical development stage when this addition is made or that they reach this stage afterwards and that this addition originates: (i) a business-development operation (licensing-in, M&A, etc.), or (ii) the identification of new opportunities resulting from internal research (repositioning). b) 25% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 5,000 of the Free Shares for the AGA D 2022 will vest, if at least one of the following three conditions relating to the development of the elafibranor development program is fulfilled: (i) obtaining the main results of the first part of the ELATIVE® trial in the second quarter of 2023; (ii) filing of a Marketing Authorization Application for elafibranor in the second half of 2023; (iii) marketing authorization for elafibranor in 2024. c) 15% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 3,000 of the Free Shares for the AGA D 2022 will vest, if at least one of the following two conditions relating to the development of the NTZ program in the ACLF is fulfilled: (i) First clinical results in 2022; (ii) Start of a Phase 2 clinical trial in the first half of 2023. d) 10% of instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 2,000 of the Free Shares for the AGA D 2022 will vest, if as part of the development of the GNS561 program, a Phase 2b trial starts in the first half of 2023. External conditions - Each applicable portion of all 20,000 Free Shares under the AGA D 2022 plan, as each Internal Conditions above is met, is then subject to the External Condition according to the methods described below. The degree of fulfillment of the External Condition relating to the Company's stock market price will be determined according to the relative performance of GENFIT shares. Each applicable portion of all 20,000 Free Shares under the AGA D 2022 plan, as each Internal Conditions above is met, will be definitively acquired per the following conditions: (a) No AGA D 2022 shall vest if the Final Price is strictly lower than the Initial Price; (b) If the Final Price is between (i) a value equal to or greater than the Initial Price and (ii) a value lower than the Ceiling Price, the number of AGA D 2022 definitively allocated will be equal to:[(Final Price / Initial Price) -1] x 1/2 of the number of AGA D 2022 instruments (c) All AGA D 2022 if the Final Price is equal to or higher than the Ceiling Price. The notions of “Final Price”, “Initial Price” and “Ceiling Price” are defined in the plan regulations.

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2023
Disclosure Of Basis Of Presentation [Abstract]
Basis of Presentation	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 in accordance with IFRS as adopted by the European Union at December 31, 2023. The Comparative information is presented as of and for the years ended December 31, 2022 and December 31, 2021. 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 the IFRS general principles of fair presentation, going concern, accrual basis of accounting, consistency of presentation, materiality and aggregation. These consolidated financial statements for the year ended December 31, 2023 were prepared under the responsibility of the Board of Directors that approved such statements on April 3, 2024. 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 Consolidated Financial Statements are described below. All financial information (unless indicated otherwise) is presented in thousands of euros (€). Changes in accounting policies and new standards or amendments The accounting policies applicable for these consolidated annual financial statements are the same as those applied to the previous consolidated annual financial statements. The following new standards are applicable from January 1, 2023, but do not have any material effect on the Group’s financial statements as of and for the year ended December 31, 2023. •IFRS 17 Insurance Contracts (including Amendments to IFRS 17 issued in June 2020 and Amendment to IFRS 17 - Initial Application of IFRS 17 and IFRS 9—Comparative Information issued in December 2021) •Amendments to IAS 8 – Definition of Accounting Estimates •Amendments to IAS 1 and IFRS Practice Statement 2 – Disclosure of Accounting Policies •Amendments to IAS 12 – Deferred Tax related to Assets and Liabilities arising from a Single Transaction Standards, interpretations and amendments issued but not yet effective The amendments and modifications to the standards below are applicable for financial years beginning after January 1, 2024, as specified below. GENFIT is in the process of assessing these amendments and modifications to the standards, however they are not expected to have a material impact on the financial statements. •Amendments to IFRS 16 – Lease Liability in a Sale and Leaseback, effective in 2024, •Amendments to IAS 1 – Classification of Liabilities as Current or Non-current (including Amendment to IAS 1 – Classification of Liabilities as Current or Non-current – Deferral of Effective Date issued in July 2020), effective in 2024, •Amendments to IAS 1 – Non-current Liabilities with Covenants, effective in 2024, •Amendments to IAS 7 and IFRS 7 - Non-current Liabilities with Covenants, effective in 2024, and •Amendments to IAS 21 – Lack of Exchangeability, effective in 2025.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

Accounting policies

IFRS 9 “Financial Instruments” takes into account the following three aspects of booking financial instruments :

•Classification and measurement;

•Impairment and;

•Hedge accounting.

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

Pursuant to IFRS 7 – Financial Instruments: Disclosures, the financial instruments are presented into three categories according to a hierarchical method used to establish their fair value.

If financial instruments are measured at fair value, they are measured according to a hierarchy comprising three levels of valuation inputs:

•Level 1: Fair value measured on the basis of quoted prices in active markets for identical assets or liabilities;

•Level 2: Fair value measured on the basis of valuation methods relying on quoted prices for similar assets, liabilities or observable inputs in active markets;

•Level 3: Fair value measured on the basis of valuation methods relying entirely or in part on unobservable inputs such as quoted prices in inactive markets or the valuation based on multiples for non-listed securities.

Financial detail

The following tables provide the financial assets and liabilities carrying values by category and fair values as of December 31, 2023 and December 31, 2022:


	As of 31/12/2022
	Carrying value				Fair value
	As per	Assets at	Assets at	Assets at	Debt at	Level 1	Level 2	Level 3
	statement of	fair value	fair value	amortized	amortized
	financial	through	through OCI	cost	cost
(in € thousands)	position	profit & loss
Assets
Equity investments	3,133		3,133					3,133
Other investments	483	483						483
Financial investments	4,550	4,550				4,550
Loans	428			428			428

Deposits and guarantees	335			335			335
Liquidity contracts	534	534				534
Trade receivables	3,188			3,188			3,188
Cash and cash equivalents	136,001	136,001				136,001
TOTAL - Assets	148,653	141,568	3,133	3,951	—	141,085	3,951	3,617
Liabilities
Conditional advances	3,229				3,229			3,229
Convertible loans	50,276				50,276		52,708
Bank loans	15,196				15,196		15,196


Obligations under finance leases	6,559				6,559		6,559
Accrued interests	14				14		14


Trade payables	8,613				8,613		8,613
Other payables	1,325				1,325		1,325
TOTAL - Liabilities	85,214	—	—	—	85,214	—	84,416	3,229


	As of 31/12/2023
	Carrying value				Fair value
	As per	Assets at	Assets at	Assets at	Debt at	Level 1	Level 2	Level 3
	statement of	fair value	fair value	amortized	amortized
	financial	through	through OCI	cost	cost
(in € thousands)	position	profit & loss
Assets
Equity investments	2,348		2,348					2,348
Other investments	471	471						471

Loans	472			472			472

Deposits and guarantees	303			303			303
Liquidity contracts	531	531				531
Trade receivables	18,526			18,526			18,526
Cash and cash equivalents	77,789	77,789				77,789
TOTAL - Assets	100,439	78,790	2,348	19,300	—	78,319	19,300	2,819
Liabilities

Convertible loans	52,622				52,622		51,939
Bank loans	11,578				11,578		11,578


Obligations under finance leases	5,884				5,884		5,884
Accrued interests	7				7		7

Bank overdrafts	89				89		89
Trade payables	10,448				10,448		10,448
Other payables	914				914		914
TOTAL - Liabilities	81,541	—	—	—	81,541	—	80,858	—

It should be noted that the section above “Equity investments” concerns the nonconsolidated equity investments in Genoscience. The gross value of the asset is €3,133 and was partially impaired in 2023. See N ote 18 - "Other financial assets ".

Financial Risks Management

12 Months Ended

Dec. 31, 2023

Foreign exchange rates [abstract]

Financial Risks Management

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.

Foreign exchange risk

The Group's overall exposure to the foreign exchange risk depends, in particular, on:

•the currencies in which it 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;

•the Group’s foreign exchange risk policy; and

•the fluctuation of foreign currencies against the euro.

Given the significant portion of its operations denominated in US dollars, the Company has chosen to limit conversions into euros from its US dollars reserves, which resulted from funds received from the listing of its securities on the Nasdaq in March 2019 in US dollars. The Company has not entered into hedging agreements, opting instead to use its cash in US dollars to meet expenses denominated in said currency in subsequent years.

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 2021, 2022 and 2023.


Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10%	As of
of the US dollar against the euro
(in € thousands or in US dollar thousands, as applicable)		2022/12/31	2023/12/31
Cash and cash equivalents denominated in US dollars		34,192	22,023
Equivalent in euros, on the basis of the exchange rate described below		32,057	19,930
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		35,619	22,145
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		29,143	18,119


Sensitivity of the Group's expenses to a variation of +/- 10%	Year ended
of the US dollar against the euro
(in € thousands or in US dollar thousands, as applicable)	2021/12/31	2022/12/31	2023/12/31
Expenses denominated in US dollars	12,566	14,884	15,326
Equivalent in euros, on the basis of the exchange rate described below	11,095	13,955	13,870
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro	12,328	15,506	15,411
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro	10,086	12,686	12,609

2023/12/31: Equivalent in euros, on the basis of 1 euro = 1.1050 dollars US.

2022/12/31: Equivalent in euros, on the basis of 1 euro = 1.0666 dollars US.

2021/12/31: Equivalent in euros, on the basis of 1 euro = 1.1326 dollars US.

The following table shows the sensitivity of the Group's cash and cash equivalent and expenses in Swiss Francs to a variation of 10% of the Swiss Franc against the euro in 2023.

Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10%

As of

of the CH franc against the euro

(in € thousands or in CH franc thousands, as applicable)

2021/12/31

2022/12/31

2023/12/31

Cash and cash equivalents denominated in CH franc

N/A

2,321

1,111

Equivalent in euros, on the basis of the exchange rate described below

N/A

2,357

1,200

Equivalent in euros, in the event of an increase of 10% of CH franc vs euro

N/A

2,618

1,333

Equivalent in euros, in the event of a decrease of 10% of CH franc vs euro

N/A

2,142

1,091

Sensitivity of the Group's expenses to a variation of +/- 10%

Year ended

of the CH franc against the euro

(in € thousands or in CH franc thousands, as applicable)

2021/12/31

2022/12/31

2023/12/31

Expenses denominated in CH franc

N/A

2,016

4,678

Equivalent in euros, on the basis of the exchange rate described below

N/A

2,048

5,052

Equivalent in euros, in the event of an increase of 10% of CH franc vs euro

N/A

2,275

5,614

Equivalent in euros, in the event of a decrease of 10% of CH franc vs euro

N/A

1,862

4,593

2023/12/31: Equivalent in euros, on the basis of a 1 euro = 0.9260 CHF

2022/12/31: Equivalent in euros on the basis of a 1 euro = 0.9847 CHF

The following table shows the Group's cash and cash equivalent and financial assets by currency (EUR, USD, CHF).


Cash, cash equivalents and financial assets	As of
(in € thousands)		2022/12/31	2023/12/31
At origin, denominated in EUR
Cash and cash equivalents		101,536	56,593
Current and non current financial assets		9,456	4,095
Total		110,993	60,689
At origin, denominated in USD
Cash and cash equivalents		32,057	19,931
Current and non current financial assets		7	15
Total		32,064	19,946
At origin, denominated in CHF
Cash and cash equivalents		2,358	1,200
Current and non current financial assets		—	14
Total		2,358	1,214
Total, in EUR
Cash and cash equivalents		136,001	77,789
Current and non current financial assets		9,464	4,125
Total		145,464	81,913

Interest rate risk

As of December 31, 2023, the Group was only liable for governmental advances or conditional advances and bank loans with no interest or interest at a fixed rate, generally below market rate.

As of December 31, 2022 and 2023, the Group's financial liabilities totaled €75.3 million and €70.2 million respectively (net of the equity component of the convertible loan and debt issue costs). Current borrowings are at a fixed rate. The Group's exposure to interest rate risk through its financial assets is also insignificant 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.

Liquidity risk

The Group's loans and borrowings mainly consist of bonds convertible or exchangeable into new or existing shares (OCEANE), repayable for an nominal amount of €57 million on October 16, 2025, and bank loans. See N ote 20 - "Loans and b orrowings " for additional information.

The Group has conducted a specific review of its liquidity risk and considers that it is able to meet its future maturities. On December 31, 2022 and 2023, we had €136,001 and €77,789 respectively, in cash and cash equivalents. (In addition, as of December 31, 2022, the Group had €4,550 in other current financial assets which consisted of a single short-term instrument whose term was 180 days.)

The Group does not believe it is exposed to short-term liquidity risk. The Company believes that its cash and cash equivalents and current financial instruments are sufficient to ensure its financing for the next 12 months, in light of its current projects and obligations.

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.

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.

Other Assets - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Miscellaneous assets [abstract]
Other current assets	€ 2,615	€ 1,998

Share-Based Compensation - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments exercised (in shares) \| shares	0	0
Share-based compensation annual expense \| €	€ 578	€ 245	€ 470

Other Financial Assets - Summary of Other Financial Assets (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)
Disclosure of financial assets [line items]
Investments accounted for using equity method	€ (2,348)	€ (3,133)
Other Investments	(471)	(483)
Financial Investments	0	(4,550)
Loans and receivables	472	428
Deposits And Guarantees	303	335
Liquidity Contract Net	531	534
Other financial assets	4,125	9,464
Other current financial assets	0	4,550
Other non-current financial assets	4,125	4,914
Loans And Receivables, Variations	(472)	(428)
Long Term Deposits And Guarantees, Variations	(303)	€ (335)
Liquidity Contract, Variations	(531)
CAPTECH Santé
Disclosure of financial assets [line items]
Other Investments	€ (500)
Other Investments - Number of units of subscription	50
Other Investments - Subscription paid	€ 175
Other Investments - Remaining subscription	€ 325
Other Investments - Percentage of Subscription paid	35.00%
Profit (loss) on disposal of investments and changes in value of investments	€ 12
Increase
Disclosure of financial assets [line items]
Investments accounted for using equity method	0
Other Investments	0
Financial Investments	0
Loans And Receivables, Variations	(44)
Long Term Deposits And Guarantees, Variations	(35)
Liquidity Contract, Variations	0
Financial Assets, Variations	(80)
Decrease
Disclosure of financial assets [line items]
Investments accounted for using equity method	(785)
Other Investments	(12)
Financial Investments	(4,550)
Loans And Receivables, Variations	0
Long Term Deposits And Guarantees, Variations	(68)
Liquidity Contract, Variations	(3)
Financial Assets, Variations	€ (5,419)

Share-Based Compensation - Summary of Share-based Compensation Under Each Plan According to Change in Estimate (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€) shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 578	€ 245	€ 470
Total number of BSAAR subscribed (in shares)	35,070	35,070	71,760
SOD 2020 SOC2020 SOUS2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of exercisable instruments relating to the development of elafibranor in pbc and elative clinical	50.00%	50.00%
Percentage of exercisable instruments relating to the development of elafibranor in pbc and elative clinical	25.00%	25.00%
Percentage of exercisable instruments relating to the development of NTZ and the ACLF franchise	15.00%	15.00%
Percentage of exercisable instruments relating to development of the product pipeline of the company	10.00%	10.00%
Number of other equity instruments exercisable in share-based payment arrangement relating to NSIA diagnostic	5,000	10,000
Number of other equity instruments exercisable in share-based payment arrangement relating to NTZ Program	1,500	3,000
Number of other equity instruments exercisable in share-based payment arrangement relating to development of the GNS561 program	1,000	2,000
Number of other equity instruments exercisable in share-based payment arrangement relating to Development Of Elafibranor In P B C And Elative Clinical	2,500	5,000
A G A S20161 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 0	€ 0	€ 186
A G A S20162 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	0	0	24
A G A D20161 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	0	50	39
A G A D20162 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	0	6	16
S O20161 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 0	€ (21)	€ 105
Total number of BSAAR subscribed (in shares)	34,398	34,398	34,398
S O20162 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 0	€ (16)	€ (11)
Total number of BSAAR subscribed (in shares)	15,308	15,308	15,308
S O U S20161 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 0	€ 0	€ 0
S O U S20162 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	0	0	(7)
A G A S20171 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	14	14	14
A G A S20172 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	40	40	40
A G A D20171 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	(7)	19	19
A G A D20172 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	34	32	29
S O20171 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 7	€ 7	€ 5
Total number of BSAAR subscribed (in shares)	43,212	43,212	43,212
S O20172 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 12	€ 13	€ 2
Total number of BSAAR subscribed (in shares)	17,765	17,765	17,765
S O U S20171 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 50	€ 55	€ 9
S O U S20172 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	9	9	2
B S A2017 A [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	49	€ 11	€ 0
Total number of BSAAR subscribed (in shares)		0	18,345
B S A2017 B [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	11	€ 2	€ 0
Total number of BSAAR subscribed (in shares)		0	18,345
A G A S2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	18	€ 4	€ 0
A G A D2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	83	17	0
S O2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 18	€ 4	€ 0
Total number of BSAAR subscribed (in shares)	68,329	68,329	68,329
S O U S2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 4	€ 0	€ 0
Total number of BSAAR subscribed (in shares)	9,713	9,713	9,713
A G A S2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 47	€ 0	€ 0
Total number of BSAAR subscribed (in shares)		0	10,782
A G A D2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	12	€ 0	€ 0
Total number of BSAAR subscribed (in shares)		0	13,068
S O2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 31	€ 0	€ 0
Total number of BSAAR subscribed (in shares)	51,343	51,343	77,015
S O2019 U S [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 104	€ 0	€ 0
B S A2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 27	€ 0	€ 0
Total number of BSAAR subscribed (in shares)	35,070	35,070	35,070
S O U S2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation annual expense \| €	€ 16	€ 0	€ 0
S O D2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,000	35,000	35,000
S O C2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	81,250	81,250	81,250
S O U S2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	27,500	50,000	50,000
AGA S 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	26,000	26,300	29,000
AGA D 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	15,000	15,000	15,000
SO D 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,000	35,000	35,000
SO C2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	120,375	124,375	134,375
SO US 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	25,000	25,000	25,000
AGA S 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	36,500	38,900
AGA D 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	20,000	20,000
SO D 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,000	35,000
SO C2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	131,000	131,000
SO US 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	34,625	34,625

Financial Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Financial Income And Expenses [Abstract]

Summary of Financial Income and Expenses


Financial income and expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31

Financial income
Interest income	274	137	1,709
Foreign exchange gain	8,876	7,470	452
Financial income from renegotiating the convertible bond debt OCEANE	35,578	0	0
Other financial income	52	605	1,519
TOTAL - Financial income	44,780	8,212	3,680
Financial expenses
Interest expenses	(4,846)	(4,341)	(4,553)
Interest expenses for leases	(109)	(69)	(71)
Foreign exchange losses	(2,163)	(340)	(966)
Other financial expenses	(5)	(8)	(23)
TOTAL - Financial expenses	(7,122)	(4,758)	(5,614)
FINANCIAL GAIN (LOSS)	37,658	3,453	(1,934)

Compensation of Corporate Officers

12 Months Ended

Dec. 31, 2023

Disclosure Of Compensation Of Corporate Officers [Abstract]

Compensation of Corporate Officers

Compensation of key management personnel

The aggregate compensation of the members of the Company’s Board of Directors (including the Chairman of the Board) and to the Chief Executive Officer includes the following:


	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Fixed compensation owed	518	585	614
Variable compensation owed	163	169	170
Attendance fees - board of Directors	488	421	381
Contributions in-kind	23	21	23
Share-based payments	58	74	72
Employer contributions	443	410	396
Consulting fees	0	0	0
TOTAL	1,693	1,680	1,656

Operating Expense - Summary of Operating Expenses and Other Operating Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	€ (46,503)	€ (35,818)	€ (35,166)
General and administrative expenses	(17,741)	(16,405)	(16,153)
Marketing and market access expenses	(876)	(992)	(1,539)
Reorganization And Restructuring Expenses	505	11	(142)
Other operating income (expense)	(141)	(652)	(763)
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	64,756	53,855	53,763
Current provisions	40	61
Raw materials & consumables used
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	(1,831)	(1,876)	(1,305)
General and administrative expenses	(337)	(248)	(161)
Marketing and market access expenses	(4)	(3)	(1)
Reorganization And Restructuring Expenses	0	0	(5)
Other operating income (expense)	0	0	0
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	2,172	2,128	1,472
Contracted research & development activities conducted by third parties
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	(23,455)	(17,407)	(18,808)
General and administrative expenses	(205)	(71)	(85)
Marketing and market access expenses	(1)	(1)	(1)
Reorganization And Restructuring Expenses	0	0	0
Other operating income (expense)	0	0	0
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	23,661	17,479	18,895
Employee expenses
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	(12,475)	(10,029)	(8,192)
General and administrative expenses	(7,486)	(6,772)	(7,379)
Marketing and market access expenses	(556)	(565)	(783)
Reorganization And Restructuring Expenses	0	0	0
Other operating income (expense)	0	0	0
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	20,517	17,366	16,354
Other expenses (maintenance, fees, travel, taxes)
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	(7,452)	(5,177)	(4,593)
General and administrative expenses	(9,396)	(9,168)	(8,003)
Marketing and market access expenses	(300)	(416)	(741)
Reorganization And Restructuring Expenses	0	0	(2,343)
Other operating income (expense)	(222)	(667)	(338)
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	17,370	15,429	16,019
Depreciation, amortization & impairment charges
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	(1,291)	(1,328)	(2,247)
General and administrative expenses	(317)	(146)	(541)
Marketing and market access expenses	(14)	(6)	(13)
Reorganization And Restructuring Expenses	505	11	2,206
Other operating income (expense)	0	0	4
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	1,117	1,469	591
Gain / (loss) on disposal of property, plant & equipment
Disclosure Of Operating Expenses And Other Operating Income Expenses [Line Items]
Research and development expenses	0	0	(19)
General and administrative expenses	0	0	15
Marketing and market access expenses	0	0	0
Reorganization And Restructuring Expenses	0	0	0
Other operating income (expense)	81	16	(429)
Research And Development Expense General And Administrative Expense Marketing And Market Access Expense And Other Operating Income And Expense	€ (81)	€ (16)	€ 433

The Company	12 Months Ended
The Company	Dec. 31, 2023
Company Information [Abstract]
The Company	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 focuses its research and development (R&D) efforts on the potential marketing of therapeutic and diagnostic solutions to combat certain metabolic, inflammatory, autoimmune and fibrotic diseases affecting in particular the liver (such as Primary Biliary Cholangitis or PBC) and more generally gastroenterological diseases. The head office address is : 885 Avenue Eugène Avinée – 59120 Loos, France. 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), Versantis AG (Swiss subsidiary), Versantis, Inc. (U.S. Subsidiary, liquidated prior to December 31, 2023), and GENFIT PHARMACEUTICALS SAS (French subsidiary, liquidated prior to December 31, 2022) (together referred to in these notes to the consolidated financial statements as "GENFIT" or the "Group" or “we “ or “us”). There are no non-controlling interests for any period presented herein.

Operating Income - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) bond	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Disclosure Of Other Income [Line Items]
Total operating income	€ 38,176	€ 26,566	€ 85,579
Industrial income recognized	28,565	20,195	80,069
Revenue	38,176	26,566	85,579
Research tax credit (CIR)	9,610	6,371	5,510
C I R Tax Credit [Member]
Disclosure Of Other Income [Line Items]
Research tax credit (CIR)	5,807	6,017	€ 372
Ipsen
Disclosure Of Other Income [Line Items]
Total operating income	8,700	15,900
Deferred income	40,000
Sale price, clinical trial phase	40,000
Revenue	€ 8,700	€ 15,900
Ipsen \| Performance obligations satisfied over time
Disclosure Of Other Income [Line Items]
Number of Performance Obligations \| bond	4

Provisions - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of other provisions [line items]
Provision for charges [Line Items]	€ 40	€ 61
Current provisions	40	€ 61
Increase in Provisions [Member]
Disclosure of other provisions [line items]
Current provisions	0
Decrease (used) in Provisions [Member]
Disclosure of other provisions [line items]
Provision for charges [Line Items]	21
Current provisions	21
Decrease (unused) in Provisions [Member]
Disclosure of other provisions [line items]
Current provisions	€ 0

Commitments	12 Months Ended
Commitments	Dec. 31, 2023
Disclosure Of Commitments [Abstract]
Commitments	COMMITMENTS AND CONTINGENT LIABILITIES Accounting policies In accordance with IAS 37, Provisions Contingent Liabilities and Contingent Assets, 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. Future milestone and revenue based royalty payments may be recorded pursuant to Contingent liability under IAS 37 or intangible asset under IAS 38. We record a provision when we have a present obligation, whether legal or constructive, as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the outflow of resources. Under IAS 38, we record intangible asset when it is probable that the expected future economic benefits that are attributes to the assets will flow to us and the cost of asset can be measured reliably. Obligations under the terms of subcontracting agreements The Group enters into contracts for its business needs 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 cancellable contracts and not included in the description of the Group’s contractual obligations and commitments. Obligations under the terms of lease agreements The Company has guaranteed its rental payment obligation under the lease agreement for the headquarters in Loos, France in the amount of €600 at December 31, 2023 (€600 at December 31, 2022). Contingent liabilities •Obligations under the terms of license agreement with Genoscience The Company has entered into a licensing agreement with Genoscience Pharma whereby we are obligated to pay royalties and milestone payments based on future events that are uncertain and therefore they constitute contingent liabilities not recognized in the Company's consolidated financial statements for the period ending December 31, 2023. Under the agreement, Genoscience Pharma is eligible for clinical and regulatory milestone payments for up to €50 million and tiered royalties. The first payable milestones are contingent on positive Phase 2 clinical trial results in CCA, and may total up to €20 million, if applicable. Additional milestones are contingent on positive Phase 3 results. These payments, when due, will be subject to a review to determine if they are eligible for activation pursuant to IAS 38. If so, they will be recorded as capital upon disbursement. Otherwise, they also constitute contingent liabilities which will be recognized when due. In addition, we also have a right of first negotiation with respect to any license or assignment, or option for a license or an assignment, with any third party to develop or commercialize other Genoscience assets in the field of CCA, to the extent Genoscience is looking to partner the asset with a third party or receives a spontaneous offer for collaboration. For the period commencing on the date of the agreement until the first regulatory approval of GNS561 for commercialization, Genoscience Pharma has the right to repurchase the license to GNS561 in CCA at a pre-determined price in the event that Genoscience Pharma receives an offer from a third party to acquire or obtain a license to GNS561 in all indications, provided that GENFIT shall first have the opportunity to negotiate the acquisition or license to GNS561 in all indications or match the offer from the third party. These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2022 or December 31, 2023. •Obligations related to the Versantis acquisition The company entered into an agreement with the former shareholders of Versantis whereby we are obligated to pay milestone payments based on future events that are uncertain and there therefore they constitute contingent liabilities not recognized in the Company's consolidated financial statements for the period ending December 31, 2023. Milestone payments total up to 65 million CHF, contingent on the following outcomes: •positive Phase 2 results related to VS-01-ACLF, •regulatory approval of VS-01-ACLF, and •positive Phase 2 results related to VS-02. Furthermore, the former shareholders of Versantis are eligible to receive 1/3 of the net proceeds resulting from the potential sale of the Priority Review Voucher of VS-01’s pediatric application by GENFIT to a third party, or 1/3 of the fair market value of this Voucher if GENFIT opts to apply it to one of its own programs. •Obligations related to the licensing agreement with Seal Rock Therapeutics On May 31, 2023, GENFIT announced the signing of a licensing agreement for the exclusive worldwide rights to the ASK1 inhibitor SRT-015 with Seal Rock Therapeutics, a clinical-stage company based in Seattle, Washington. Under the terms of the agreement, Seal Rock is eligible for payments of up to €100 million (of which €2 million have been paid in 2023 ), subject to certain regulatory, clinical and commercial outcomes. Seal Rock is likewise eligible for tiered royalties, applied to the annual sales of licensed products realized by GENFIT. These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2023. •Obligations related to the licensing agreement with Celloram On July 28, 2023, GENFIT licensed the exclusive worldwide rights to CLM-022, a first-in-class inflammasome inhibitor, from Celloram Inc., a Cleveland-based biotechnology company. Under the terms of the agreement: 1.Celloram is eligible for payments of up to €160 million (of which €50 have been paid in 2023), subject to certain regulatory, clinical and commercial outcomes. 2.Celloram is likewise eligible for tiered royalties, applied to the annual sales of licensed products realized by GENFIT. The conditional payments will be subject to analysis when they are incurred to determine if they are eligible for capitalization in accordance with IAS 38. If so, they will be capitalized. Otherwise, they will be expensed as incurred. In addition, a first milestone of €50 was paid in 2023. This milestone was capitalized in the “Intangible assets” line item on the statement of financial position. These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2023. Contingent Assets •Contingent assets related to the licensing agreement with IPSEN In December 2021, GENFIT and Ipsen Pharma SAS ("Ipsen") entered into an exclusive worldwide licensing agreement (except for China, Hong Kong, Taiwan and Macao, which apply to Terns as noted below) for elafibranor, a Phase 3 asset evaluated in Primary Biliary Cholangitis (PBC), as part of a long-term global partnership ("Collaboration and License Agreement"). Under this agreement we could receive milestone payments based on future events that are uncertain and therefore they constitute contingent assets not recognized in the Company's consolidated financial statements for the period ending December 31, 2023. •GENFIT is also eligible for total milestone payments up to €360 million (of which €13.3 million has been paid in 2024). These milestone payments constitute future variable income, dependent on the completion of key steps related to the development and sales of the licensed products. As such, in accordance with IFRS 15, this income will be recognized as revenue depending on the completion of these milestones. No such milestone payments were made in 2021 or 2022. In 2023, a milestone of €13.3 million was recognized as revenue and is recognized on the balance sheet in Accounts receivable as of December 31, 2023. Furthermore, we expect to receive future milestone revenue in 2024, subject to approval by applicable regulatory authorities and US and European commercial launches of elafibranor in PBC by Ipsen, representing a total of approximately €75.2 million. •GENFIT is eligible for tiered double-digit royalties of up to 20%, applied to the annual sales of licensed products realized by Ipsen. As such, in accordance with IFRS 15, this income will be recognized as revenue depending on the realization of these sales. No such royalties were earned in 2021, 2022 or 2023. •Contingent assets related to the licencing agreement with Terns Pharma The Company entered into a licensing agreement with Terns Pharma whereby we could receive milestone payments based on future events that are uncertain and therefore they constitute contingent assets not recognized in the Company's consolidated financial statements for the period ending December 31, 2023. The licensing agreement with Terns concerns China, Hong Kong, Taiwan and Macao. Milestones include Development Milestone Payments upon the achievement of the development milestones for the licensed product and Commercial Milestone Payments upon the achievement of commercial milestones depending on reaching certain aggregate thresholds. There are also potential mid-teen royalties based on sales by Terns Pharmaceuticals in Greater China. The potential Development and Commercial Milestone payments may represent up to $193 million.

Loans and Borrowings - Summary of Refundable and Conditional Advances (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Refundable and conditional advances, Net book value	€ 0		€ 3,229
BPI FRANCE - IT-DIAB
Disclosure of detailed information about borrowings [line items]
Refundable and conditional advances, Grant date	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, Repayments	(3,229)	0	0
Refundable and conditional advances, Effects of discounting	0	0	€ 0
Refundable and conditional advances, Net book value	€ 0	€ 3,229

Financial Risks Management (Tables)

12 Months Ended

Dec. 31, 2023

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

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 2021, 2022 and 2023.


Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10%	As of
of the US dollar against the euro
(in € thousands or in US dollar thousands, as applicable)		2022/12/31	2023/12/31
Cash and cash equivalents denominated in US dollars		34,192	22,023
Equivalent in euros, on the basis of the exchange rate described below		32,057	19,930
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro		35,619	22,145
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro		29,143	18,119


Sensitivity of the Group's expenses to a variation of +/- 10%	Year ended
of the US dollar against the euro
(in € thousands or in US dollar thousands, as applicable)	2021/12/31	2022/12/31	2023/12/31
Expenses denominated in US dollars	12,566	14,884	15,326
Equivalent in euros, on the basis of the exchange rate described below	11,095	13,955	13,870
Equivalent in euros, in the event of an increase of 10% of US dollar vs euro	12,328	15,506	15,411
Equivalent in euros, in the event of a decrease of 10% of US dollar vs euro	10,086	12,686	12,609

Sensitivity Of Cash And Cash Equivalents And Expenses To Variation Of Ten Percent Of The CHF Against The Euro Explanatory

Sensitivity of the Group's cash and cash equivalents to a variation of +/- 10%

As of

of the CH franc against the euro

(in € thousands or in CH franc thousands, as applicable)

2021/12/31

2022/12/31

2023/12/31

Cash and cash equivalents denominated in CH franc

N/A

2,321

1,111

Equivalent in euros, on the basis of the exchange rate described below

N/A

2,357

1,200

Equivalent in euros, in the event of an increase of 10% of CH franc vs euro

N/A

2,618

1,333

Equivalent in euros, in the event of a decrease of 10% of CH franc vs euro

N/A

2,142

1,091

Sensitivity of the Group's expenses to a variation of +/- 10%

Year ended

of the CH franc against the euro

(in € thousands or in CH franc thousands, as applicable)

2021/12/31

2022/12/31

2023/12/31

Expenses denominated in CH franc

N/A

2,016

4,678

Equivalent in euros, on the basis of the exchange rate described below

N/A

2,048

5,052

Equivalent in euros, in the event of an increase of 10% of CH franc vs euro

N/A

2,275

5,614

Equivalent in euros, in the event of a decrease of 10% of CH franc vs euro

N/A

1,862

4,593

Summary of Cash, Cash Equivalents and Financial Assets


Cash, cash equivalents and financial assets	As of
(in € thousands)		2022/12/31	2023/12/31
At origin, denominated in EUR
Cash and cash equivalents		101,536	56,593
Current and non current financial assets		9,456	4,095
Total		110,993	60,689
At origin, denominated in USD
Cash and cash equivalents		32,057	19,931
Current and non current financial assets		7	15
Total		32,064	19,946
At origin, denominated in CHF
Cash and cash equivalents		2,358	1,200
Current and non current financial assets		—	14
Total		2,358	1,214
Total, in EUR
Cash and cash equivalents		136,001	77,789
Current and non current financial assets		9,464	4,125
Total		145,464	81,913

Income Tax - Narrative (Details) - EUR (€) € in Thousands	12 Months Ended
Income Tax - Narrative (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Other current tax liabilities	€ 23	€ 4,906
+ Income tax expense (benefit)	380	(116)	€ 2,215
Deferred tax liabilities	455	510
Tax loss carry forwards	523,392	477,149	449,679
Taxable profit limit	€ 1,000
Percentage of profit exceeding limit offsetting taxable profit	50.00%
Tax loss carried forward used to offset taxable profits	€ 33,700
Deferred tax assets	1,275
Tax effect of tax losses	7,832	7,037	0
Deferred tax liability (asset)	(455)	(510)	(602)
Impact on equity	0	0
Impact on the profit/loss	55	93
OCEANE
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liabilities	1,183	1,770	2,315
Deferred tax assets	842	1,260	1,712
OCEANE \| Impact Attributable To Deferred Tax Liabilities [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Impact on equity	0	0
Impact on the profit/loss	586	545
OCEANE \| Impact Attributable To Deferred Tax Assets [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Impact on equity	0	0
Impact on the profit/loss	418	453
Exceptional Depreciation on acquisition costs
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liabilities	113	0	€ 0
Exceptional Depreciation on acquisition costs \| Impact Attributable To Deferred Tax Liabilities [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Impact on equity	0	0
Impact on the profit/loss	€ (113)	€ 0

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Redeemable Warrants (Details)	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares € / shares	Dec. 31, 2020	Dec. 31, 2019 € / shares	Dec. 31, 2018	Dec. 31, 2017 € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided	0	36,690
Number of instruments exercised (in shares)	0	0
Total number of BSAAR subscribed (in shares)	35,070	35,070	71,760
Number of other equity instruments exercisable in share-based payment arrangement	35,070	35,070
A G A S [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Valuation method used		Monte Carlo
Expected dividends			0.00%
Expected volatility			51.00%
Risk-free interest rate			(0.59%)
Acquisition period			From 03/17/2021 to 03/31/2024
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			€ 4.15
Grant date			Mar. 17, 2021
Price of the share at the time of allocation \| € / shares			€ 4.15
Conversion ratio			1:1
Turnover rate			0.00%
B S A2017 B [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided		18,345
Number of instruments exercised (in shares)		0
Total number of BSAAR subscribed (in shares)		0	18,345
Issue price (in EUR per share) \| € / shares							€ 2.00
Expected dividends							0.00%
Expected volatility							35.70%
Risk-free interest rate							0.00%
Number of other equity instruments granted in share-based payment arrangement		18,345
Number of other equity instruments exercisable in share-based payment arrangement		0
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares							€ 3.81
Excercise price (in EUR per share) \| € / shares							€ 19.97
Conversion ratio							1:1
S O
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided	26,500	38,229
Total number of BSAAR subscribed (in shares)	968,881	805,181	634,035
Valuation method used	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes
Number of other equity instruments exercisable in share-based payment arrangement	388,931	245,181
Acquisition period		From 17/10/2022 to 17/10/2025
Exercice period		From 18/10/2025 to 17/10/2032
B S A2017 A [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided		18,345
Number of instruments exercised (in shares)		0
Total number of BSAAR subscribed (in shares)		0	18,345
Issue price (in EUR per share) \| € / shares							€ 2.00
Expected dividends							0.00%
Expected volatility							36.40%
Risk-free interest rate							0.00%
Number of other equity instruments granted in share-based payment arrangement		18,345
Number of other equity instruments exercisable in share-based payment arrangement		0
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares							€ 3.78
Excercise price (in EUR per share) \| € / shares							€ 19.97
Conversion ratio							1:1
B S A2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR voided	0	0
Number of instruments exercised (in shares)	0	0
Total number of BSAAR subscribed (in shares)	35,070	35,070	35,070
Issue price (in EUR per share) \| € / shares					€ 1.23
Expected dividends					0.00%
Expected volatility					40.00%
Risk-free interest rate					0.00%
Number of other equity instruments granted in share-based payment arrangement	35,070	35,070
Number of other equity instruments exercisable in share-based payment arrangement	35,070	35,070
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares					€ 0.75
Excercise price (in EUR per share) \| € / shares					€ 12.32
Conversion ratio					1:1

Cash flow statement	12 Months Ended
Cash flow statement	Dec. 31, 2023
Cash Flow Information [Abstract]
Disclosure of cash flow statement [text block]	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information Disclosure of non-cash financing and investing activities Accrued property, plant and equipment, 2023: €42 Accrued property, plant and equipment, 2022: €142 Accrued property, plant and equipment, 2021: €76

Statement of financial position, current/non-current

12 Months Ended

Dec. 31, 2023

Statement of financial position [abstract]

Financial Income and Expenses

FINANCIAL INCOME AND EXPENSES


Financial income and expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31

Financial income
Interest income	274	137	1,709
Foreign exchange gain	8,876	7,470	452
Financial income from renegotiating the convertible bond debt OCEANE	35,578	0	0
Other financial income	52	605	1,519
TOTAL - Financial income	44,780	8,212	3,680
Financial expenses
Interest expenses	(4,846)	(4,341)	(4,553)
Interest expenses for leases	(109)	(69)	(71)
Foreign exchange losses	(2,163)	(340)	(966)
Other financial expenses	(5)	(8)	(23)
TOTAL - Financial expenses	(7,122)	(4,758)	(5,614)
FINANCIAL GAIN (LOSS)	37,658	3,453	(1,934)

Interest income recognized is almost exclusively related to current financial assets. Other financial income similarly is almost exclusively related to accrued interest income for ongoing current financial assets at the end of the year.

The financial expenses are related to the interest of the OCEANEs and they mainly relate to the payment of coupons at the rate of 3.5% and the amortization of the discount of the bond debt at the effective interest rate of 8.8% to accrete the bond debt up to the amount that will be repaid (or converted) at maturity, recognizing a theoretical annual interest accrual as a result of the accretion on the period of an amount equivalent to the equity component at an effective interest rate.

The portion of financial gain related to currency exchange is a net loss of €515 in 2023 notably due to the difference in currency exchange recognized on the cash equivalents and other current financial assets in US dollars, as GENFIT has decided to keep some of its cash in US dollars. See Note 13 - “Cash and cash equivalents”. These cash investments in US dollars are to be used to pay directly expenses in US dollars (natural currency hedge).

Financial income in 2021 included notably the one-time buyback bonus of €35.6 million issued from the renegotiation of the OCEANEs completed in said year.

Summary of Financial Income and Expenses


Financial income and expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31

Financial income
Interest income	274	137	1,709
Foreign exchange gain	8,876	7,470	452
Financial income from renegotiating the convertible bond debt OCEANE	35,578	0	0
Other financial income	52	605	1,519
TOTAL - Financial income	44,780	8,212	3,680
Financial expenses
Interest expenses	(4,846)	(4,341)	(4,553)
Interest expenses for leases	(109)	(69)	(71)
Foreign exchange losses	(2,163)	(340)	(966)
Other financial expenses	(5)	(8)	(23)
TOTAL - Financial expenses	(7,122)	(4,758)	(5,614)
FINANCIAL GAIN (LOSS)	37,658	3,453	(1,934)

Commitments

COMMITMENTS AND CONTINGENT LIABILITIES

Accounting policies

In accordance with IAS 37, Provisions Contingent Liabilities and Contingent Assets, 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.

Future milestone and revenue based royalty payments may be recorded pursuant to Contingent liability under IAS 37 or intangible asset under IAS 38. We record a provision when we have a present obligation, whether legal or constructive, as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the outflow of resources. Under IAS 38, we record intangible asset when it is probable that the expected future economic benefits that are attributes to the assets will flow to us and the cost of asset can be measured reliably.

Obligations under the terms of subcontracting agreements

The Group enters into contracts for its business needs 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 cancellable contracts and not included in the description of the Group’s contractual obligations and commitments.

Obligations under the terms of lease agreements

The Company has guaranteed its rental payment obligation under the lease agreement for the headquarters in Loos, France in the amount of €600 at December 31, 2023 (€600 at December 31, 2022).

Contingent liabilities

•Obligations under the terms of license agreement with Genoscience

The Company has entered into a licensing agreement with Genoscience Pharma whereby we are obligated to pay royalties and milestone payments based on future events that are uncertain and therefore they constitute contingent liabilities not recognized in the Company's consolidated financial statements for the period ending December 31, 2023.

Under the agreement, Genoscience Pharma is eligible for clinical and regulatory milestone payments for up to €50 million and tiered royalties. The first payable milestones are contingent on positive Phase 2 clinical trial results in CCA, and may total up to €20 million, if applicable.

Additional milestones are contingent on positive Phase 3 results. These payments, when due, will be subject to a review to determine if they are eligible for activation pursuant to IAS 38. If so, they will be recorded as capital upon disbursement. Otherwise, they also constitute contingent liabilities which will be recognized when due.

In addition, we also have a right of first negotiation with respect to any license or assignment, or option for a license or an assignment, with any third party to develop or commercialize other Genoscience assets in the field of CCA, to the extent Genoscience is looking to partner the asset with a third party or receives a spontaneous offer for collaboration.

For the period commencing on the date of the agreement until the first regulatory approval of GNS561 for commercialization, Genoscience Pharma has the right to repurchase the license to GNS561 in CCA at a pre-determined price in the event that Genoscience Pharma receives an offer from a third party to acquire or obtain a license to GNS561 in all indications, provided that GENFIT shall first have the opportunity to negotiate the acquisition or license to GNS561 in all indications or match the offer from the third party.

These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2022 or December 31, 2023.

•Obligations related to the Versantis acquisition

The company entered into an agreement with the former shareholders of Versantis whereby we are obligated to pay milestone payments based on future events that are uncertain and there therefore they constitute contingent liabilities not recognized in the Company's consolidated financial statements for the period ending December 31, 2023.

Milestone payments total up to 65 million CHF, contingent on the following outcomes:

•positive Phase 2 results related to VS-01-ACLF,

•regulatory approval of VS-01-ACLF, and

•positive Phase 2 results related to VS-02.

Furthermore, the former shareholders of Versantis are eligible to receive 1/3 of the net proceeds resulting from the potential sale of the Priority Review Voucher of VS-01’s pediatric application by GENFIT to a third party, or 1/3 of the fair market value of this Voucher if GENFIT opts to apply it to one of its own programs.

•Obligations related to the licensing agreement with Seal Rock Therapeutics

On May 31, 2023, GENFIT announced the signing of a licensing agreement for the exclusive worldwide rights to the ASK1 inhibitor SRT-015 with Seal Rock Therapeutics, a clinical-stage company based in Seattle, Washington.

Under the terms of the agreement, Seal Rock is eligible for payments of up to €100 million (of which €2 million have been paid in 2023 ), subject to certain regulatory, clinical and commercial outcomes.

Seal Rock is likewise eligible for tiered royalties, applied to the annual sales of licensed products realized by GENFIT.

These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2023.

•Obligations related to the licensing agreement with Celloram

On July 28, 2023, GENFIT licensed the exclusive worldwide rights to CLM-022, a first-in-class inflammasome inhibitor, from Celloram Inc., a Cleveland-based biotechnology company.

Under the terms of the agreement:

1.Celloram is eligible for payments of up to €160 million (of which €50 have been paid in 2023), subject to certain regulatory, clinical and commercial outcomes.

2.Celloram is likewise eligible for tiered royalties, applied to the annual sales of licensed products realized by GENFIT.

The conditional payments will be subject to analysis when they are incurred to determine if they are eligible for capitalization in accordance with IAS 38. If so, they will be capitalized. Otherwise, they will be expensed as incurred. In addition, a first milestone of €50 was paid in 2023. This milestone was capitalized in the “Intangible assets” line item on the statement of financial position.

These obligations constitute contingent liabilities not recognized in the Company's consolidated financial statements at December 31, 2023.

Contingent Assets

•Contingent assets related to the licensing agreement with IPSEN

In December 2021, GENFIT and Ipsen Pharma SAS ("Ipsen") entered into an exclusive worldwide licensing agreement (except for China, Hong Kong, Taiwan and Macao, which apply to Terns as noted below) for elafibranor, a Phase 3 asset evaluated in Primary Biliary Cholangitis (PBC), as part of a long-term global partnership ("Collaboration and License Agreement"). Under this agreement we could receive milestone payments based on future events that are uncertain and therefore they constitute contingent assets not recognized in the Company's consolidated financial statements for the period ending December 31, 2023.

•GENFIT is also eligible for total milestone payments up to €360 million (of which €13.3 million has been paid in 2024). These milestone payments constitute future variable income, dependent on the completion of key steps related to the development and sales of the licensed products. As such, in accordance with IFRS 15, this income will be recognized as revenue depending on the completion of these milestones. No such milestone payments were made in 2021 or 2022. In 2023, a milestone of €13.3 million was recognized as revenue and is recognized on the balance sheet in Accounts receivable as of December 31, 2023. Furthermore, we expect to receive future milestone revenue in 2024, subject to approval by applicable regulatory authorities and US and European commercial launches of elafibranor in PBC by Ipsen, representing a total of approximately €75.2 million.

•GENFIT is eligible for tiered double-digit royalties of up to 20%, applied to the annual sales of licensed products realized by Ipsen. As such, in accordance with IFRS 15, this income will be recognized as revenue depending on the realization of these sales. No such royalties were earned in 2021, 2022 or 2023.

•Contingent assets related to the licencing agreement with Terns Pharma

The Company entered into a licensing agreement with Terns Pharma whereby we could receive milestone payments based on future events that are uncertain and therefore they constitute contingent assets not recognized in the Company's consolidated financial statements for the period ending December 31, 2023. The licensing agreement with Terns concerns China, Hong Kong, Taiwan and Macao.

Milestones include Development Milestone Payments upon the achievement of the development milestones for the licensed product and Commercial Milestone Payments upon the achievement of commercial milestones depending on reaching certain aggregate thresholds. There are also potential mid-teen royalties based on sales by Terns Pharmaceuticals in Greater China. The potential Development and Commercial Milestone payments may represent up to $193 million.

Related Parties

RELATED PARTIES

Compensation of key management personnel

The aggregate compensation of the members of the Company’s Board of Directors (including the Chairman of the Board) and to the Chief Executive Officer includes the following:


	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Fixed compensation owed	518	585	614
Variable compensation owed	163	169	170
Attendance fees - board of Directors	488	421	381
Contributions in-kind	23	21	23
Share-based payments	58	74	72
Employer contributions	443	410	396
Consulting fees	0	0	0
TOTAL	1,693	1,680	1,656

Biotech Avenir

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

At December 31, 2023, Biotech Avenir SAS held 3.79% of the share capital of the Company.

The Company did not carry out any transactions with Biotech Avenir in 2023, 2022, or 2021, with the exception of the domiciliation without charge.

Ipsen Pharma SAS

See N ote 7.1 - "Revenues and other income".

Consolidated Statements of Operations - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues and other income
Revenue	€ 28,565	€ 20,195	€ 80,069
Other income	9,610	6,371	5,510
Revenues and other income	38,176	26,566	85,579
Operating expenses and other operating income (expenses)
Research and development expenses	(46,503)	(35,818)	(35,166)
General and administrative expenses	(17,741)	(16,405)	(16,153)
Marketing and market access expenses	(876)	(992)	(1,539)
Reorganization and restructuring income (expenses)	505	11	(142)
Other operating income (expense)	(141)	(652)	(763)
Operating income (loss)	(26,580)	(27,289)	31,816
Financial income	3,680	8,212	44,780
Financial expenses	(5,614)	(4,758)	(7,122)
Financial profit (loss)	(1,934)	3,453	37,658
Net profit (loss) before tax	(28,514)	(23,836)	69,474
Income tax benefit (expense)	(380)	116	(2,215)
Net profit (loss)	€ (28,894)	€ (23,719)	€ 67,259
Basic and diluted earnings (loss) per share
Basic earnings (loss) per share (€/share)	€ (0.58)	€ (0.48)	€ 1.51
Diluted earnings (loss) per share (€/share)	€ (0.58)	€ (0.48)	€ 1.23

Operating Income - Schedule of Other Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Income [Line Items]
Other income	€ 9,610	€ 6,371	€ 5,510
C I R Tax Credit [Member]
Disclosure Of Other Income [Line Items]
Other income	5,807	6,017	372
Other Operating Income [Member]
Disclosure Of Other Income [Line Items]
Other income	464	320	223
Government Grants And Subsidies [Member]
Disclosure Of Other Income [Line Items]
Other income	€ 3,340	€ 34	€ 5

Income Tax

12 Months Ended

Dec. 31, 2023

Deferred tax expense (income) [abstract]

Income Tax

INCOME TAX

Financial detail

As of December 31, 2023 and 2022, corporate income tax payable by the Parent company GENFIT SA amounted to €23 and €4,906, respectively, which is recognized as "Other current tax liabilities" in the consolidated financial statements. It should be noted that in 2022 the Company recorded an income tax receivable of €5,282, related to previous years, in "Trade and other receivables" in the consolidated statement of financial position. In 2023, the Company presented the amounts net on the financial statements to reflect the net income tax filing position.

We benefited from a reduced tax rate on part of the income from the licensing agreement signed with Ipsen pursuant to Article 238 of the French Tax Code.

The determination of the income tax expense recognized in the consolidated financial statements, which amounted to (an expense) of €380 for 2023, is summarized in the table "Effective tax rate" hereunder.

Change in legislation

In 2017, the United States Congress passed the Tax Cuts and Jobs Act of 2017, which included a tax law change on Section 174 of the Internal Revenue Code. Research and development costs specified under Section 174 of the Code must be capitalized and amortized pro rata over 5 years for domestic expenditures and 15 years for foreign expenditures. Said provision came into effect for tax years commencing after December 31, 2021.

Effective tax rate


	Year ended
(in € thousands)	2021/12/31		2022/12/31		2023/12/31
Net profit (loss)	67,259		(23,719)		(28,894)
Income tax benefit (expense)	(2,215)		116		(380)
Net profit (loss) before tax	69,474		(23,836)		(28,514)
Tax rate in France	27.37	%	25.00	%	25.00	%
Theoretical tax benefit (expense)	(19,018)		5,959		7,129
Increase / decrease in tax benefit arising from :
Tax credits	1,512		1,504		1,452
Permanent differences	833		(31)		(153)
Differences between rates	7,323		(67)		(840)
Tax losses for the period, unrecognised as deferred tax assets	0		(7,037)		(7,832)
Utilisation of previously unrecognised tax losses	5,590		0		0
IFRS adjustments without tax incidence	(129)		(61)		(145)
Non recognition of deffered tax assets related to temporary differences	(24)		331		454
Recognition of deferred tax assets against deferred tax liabilities	430		(453)		(418)
Tax effects related to the renegociation of the convertible debt	1,370		0		0
Other	(102)		(29)		(28)

Income tax benefit (expense) recognised in profit or loss	(2,215)		116		(380)
Effective income tax rate	(3.19)	%	(0.49)	%	1.33	%

Tax Inspection

We are subject to a tax audit by the French revenue service on our tax returns or operations subject to review on the 2019 and 2020 periods (including the Research Tax Credit claimed for these periods), which started on December 10, 2021 and is still ongoing at the date of this document.

As of December 2023, on the consolidated statement of financial position, the total amount corresponding to line item "Trade and other receivables" is €32,707. Of this amount, per Note 16 - "Trade and other receivables", the amount corresponding to subcategory "Research tax credit" is €12,200. The breakdown of this amount is as follows:

•€5,807 relating to 2023,

•€6,017 relating to 2022, and

•€372 relating to 2021 (€5,282 relating to 2021, netted against the related tax payable balance of €4,906).

This balance has not yet been reimbursed as there is currently a tax inspection taking place by the French tax authorities.

Losses available for offsetting against future taxable income

At December 31, 2023, 2022 and 2021, the tax loss carry forwards for the Company amounted to €523,392, €477,149 and €449,679, 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.

In 2021, the amount of tax loss carry forwards used to offset taxable profit were €33.7 million.

Deferred tax assets and liabilities

The Group's main sources of deferred tax assets and liabilities as of December 31, 2022 and 2023 related to:

•Temporary differences, recognized:

◦OCEANEs: a deferred tax liability for €1,770 and €1,183 as of December 31, 2022 and 2023, respectively, and a deferred tax asset for €1,260 and €842 as of December 31, 2022 and 2023,

◦Linked to other sources (tax-driven amortization): a deferred tax liability of €113.

•Temporary differences, unrecognized

◦Post-employment benefits: a deferred tax asset for €195 and €244, as of December 31, 2022 and 2023, respectively,

◦GENFIT Corp: a deferred tax asset for €1,275 as of December 31, 2023.

•Tax loss carry forwards

◦The Group also has tax loss carry forwards losses which have not been recognized as deferred tax in the assets of the consolidated statement of financial position to the uncertainties related to the possibility of its use in the future (see above N ote 11.1 - "Income Tax - Losses available for offsetting against future taxable income").

Deferred taxes detail

The Company offsets its deferred tax assets and liabilities as permitted by IAS 12, resulting in a net deferred tax liability of €455 as of December 31, 2023 (€510 as of December 31, 2022).


	As of	Impact on	Impact on the	As of
(in € thousands)	2021/12/31	equity	profit/loss	2022/12/31












Deferred tax liabilities / convertible loan OCEANE	(2,315)	—	545	(1,770)
Deferred tax assets / convertible loan OCEANE	1,712	—	(453)	1,260
Deferred tax liabilities / exceptional depreciation on acquisition costs	—	—	—	—
TOTAL	(602)	—	93	(510)


	As of	Impact on	Impact on the	As of
(in € thousands)	2022/12/31	equity	profit/loss	2023/12/31












Deferred tax liabilities / convertible loan OCEANE	(1,770)	—	586	(1,183)
Deferred tax assets / convertible loan OCEANE	1,260	—	(418)	842
Deferred tax liabilities / exceptional depreciation on acquisition costs	—	—	(113)	(113)
TOTAL	(510)	—	55	(455)

Other 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.

Provisions

12 Months Ended

Dec. 31, 2023

Provisions [abstract]

Provisions

Accounting policies

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.

A provision for reorganization is recognized when the Group has approved a formal and detailed plan for its reorganization and has either started to implement it or publicly disclosed it. A provision for onerous contract is estimated at the actual value of the lowest expected cost of either the cancellation or the execution of the contract, the latter being established on the basis of the additional costs required to fulfill the obligations stipulated by the contract. Before a provision is established, the Group recognizes any impairment loss that occurred on the assets dedicated to this contract.

Financial detail

At December 31, 2023 and at December 31, 2022, this line item amounted to €40 and €61, respectively.


Change in provisions	As of	Increase	Decrease	Decrease	As of
(in € thousands)	2022/12/31		(used)	(unused)	2023/12/31



Provision for charges	61	0	(21)	0	40
TOTAL	61	0	(21)	0	40

For further information related to contingent assets and contingent liabilities, see N ote 29 - "Commitments and Co ntingent Liabilities ".

Loans and Borrowings - Summary of Other Loans and Borrowings (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Other borrowings	€ 17,557	€ 24,999
Other current loans and borrowings	7,510	4,665
Other non-current loans and borrowings	10,047	20,334
Refundable And Conditional Advances [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings	0	3,229
Other current loans and borrowings	0	0
Other non-current loans and borrowings		3,229
Bank Loans [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings	11,578	15,196
Other current loans and borrowings	6,339	3,619
Other non-current loans and borrowings	5,239	11,578
Obligations Under Leases [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings	5,884	6,559
Other current loans and borrowings	1,076	1,032
Other non-current loans and borrowings	4,808	5,527
Accrued Interests [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings	7	14
Other current loans and borrowings	7	14
Other non-current loans and borrowings	€ 0	€ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of voluntary change in accounting policy [abstract]

Summary of Functional Currency

The functional currency of GENFIT CORP and Versantis, Inc. 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
Ratio : 1 US dollars (USD) = x euros (EUR)	2021/12/31	2022/12/31	2023/12/31
Exchange rate at period end	0.88292	0.93756	0.90498
Average exchange rate for the period	0.84542	0.95105	0.92471

The functional currency of Versantis AG is the Swiss Franc. The applicable exchange rates used to translate the financial statements of this entity for each of the periods are as follows:

Ratio : 1 CH franc (CHF) = x euros (EUR)

Year ended

2021/12/31

2022/12/31

2023/12/31

Exchange rate at period end

N/A

1.01554

1.07991

Average exchange rate for the period

N/A

1.01710

1.02936

Note that the average rate immediately above for the year ended December 31, 2022 is based on the period between September 29, 2022 (the date of the acquisition of Versantis AG) and December 31, 2022.

Operating segments

12 Months Ended

Dec. 31, 2023

Segment information [Abstract]

Disclosure of entity's operating segments [text block]

The assets, liabilities and operating income (loss) are mainly located in France and in Switzerland (the latter as a result of the acquisition of Versantis in September 2022).

Revenue breakdown by geographical area


Revenue by destination	Year ended
(in € thousands)	12/31/2021		12/31/2022		12/31/2023
Revenue from France	100	%	100	%	100	%
Revenue from other countries	—	%	—	%	—	%
TOTAL	100	%	100	%	100	%

In 2023, 2022, and 2021 revenue was generated entirely in France. Substantially all revenue was generated from Ipsen in 2023.

Non-current assets by geographical area

Non-current assets break down by geographical area as follows:

NON-CURRENT ASSETS

As of December 31, 2022

As of December 31, 2023

(thousands of euros)

France

Switzerland

Total

France

Switzerland

Total

TOTAL

12,923

44,158

57,081

13,869

46,889

60,758

Compensation of Corporate Officers - Summary of Compensation Paid to Officers (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Compensation Of Corporate Officers [Line Items]
Key management personnel compensation, attendance fees	€ 381	€ 421	€ 488
Key management personnel compensation, contribution in kind	23	21	23
Key management personnel compensation, share-based payment	72	74	58
Key management personnel compensation,employer contributions	396	410	443
Key management personnel compensation, consulting fees	0	0	0
Key management personnel compensation	1,656	1,680	1,693
Key management personnel compensation, fixed compensation fees	614	585	518
Key management personnel compensation, variable compensation fees	€ 170	€ 169	€ 163

Basis of Presentation (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Provisions for employee benefits	€ 978	€ 782
Equity	€ 67,951	€ 94,528	€ 119,097	€ (16,430)

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Operating Expense (Tables)

12 Months Ended

Dec. 31, 2023

Operating Expense [Abstract]

Summary of Operating Expenses and Other Operating Income

Financial statement line item detail


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2021/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(35,166)	(1,305)	(18,808)	(8,192)	(4,593)	(2,247)	(19)
General and administrative income (expenses)	(16,153)	(161)	(85)	(7,379)	(8,003)	(541)	15
Marketing and market access expenses	(1,539)	(1)	(1)	(783)	(741)	(13)	—
Reorganization and restructuring income (expenses)	(142)	(5)	—	—	(2,343)	2,206	—
Other operating income (expenses)	(763)	—	—	—	(338)	4	(429)
TOTAL	(53,763)	(1,472)	(18,895)	(16,354)	(16,019)	(591)	(433)


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2022/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(35,818)	(1,876)	(17,407)	(10,029)	(5,177)	(1,328)	—
General and administrative expenses	(16,405)	(248)	(71)	(6,772)	(9,168)	(146)	—
Marketing and market access expenses	(992)	(3)	(1)	(565)	(416)	(6)	—
Reorganization and restructuring income (expenses)	11	—	—	—	—	11	—
Other operating income (expenses)	(652)	—	—	—	(667)	—	16
TOTAL	(53,855)	(2,128)	(17,479)	(17,366)	(15,429)	(1,469)	16


Operating expenses and other operating income (expenses)	Year ended	Of which :
	2023/12/31	Raw	Contracted	Employee	Other	Depreciation,	Gain /
		materials	research and	expenses	expenses	amortization	(loss) on
		and	development		(maintenance,	and	disposal of
		consumables	activities		fees, travel,	impairment	property,
		used	conducted by		taxes…)	charges	plant and
(in € thousands)			third parties				equipment
Research and development expenses	(46,503)	(1,831)	(23,455)	(12,475)	(7,452)	(1,291)	—
General and administrative expenses	(17,741)	(337)	(205)	(7,486)	(9,396)	(317)	—
Marketing and market access expenses	(876)	(4)	(1)	(556)	(300)	(14)	—
Reorganization and restructuring income (expenses)	505	—	—	—	—	505	—
Other operating income (expenses)	(141)	—	—	—	(222)	—	81
TOTAL	(64,756)	(2,172)	(23,661)	(20,517)	(17,370)	(1,117)	81

Summary of Employee Expenses and Number of Employees

Employee expenses and number of employees were as follows:


Employee expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Wages and salaries	(10,328)	(12,188)	(14,524)
Social security costs	(4,775)	(4,765)	(5,296)
Changes in pension provision	(154)	(169)	(119)
Employee profit-sharing	(628)	—	—
Share-based compensation	(470)	(245)	(578)
TOTAL	(16,354)	(17,366)	(20,517)


Number of employees at year-end	Year ended
	2021/12/31	2022/12/31	2023/12/31
Average number of employees	122	133	154
Number of employees
Research and development	55	73	78
Services related to research and development	18	18	18
Administration and management	47	55	61
Marketing and commercial	2	2	2
TOTAL	122	148	159

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2023

Cash and cash equivalents [abstract]

Cash and Cash Equivalents

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 with no penalty; and

•Negotiable medium-term notes, available with a quarterly maturity or by the way of early exit with no penalty.

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)	2022/12/31	2023/12/31
Short-term deposits	119,090	67,530
Cash on hand and bank accounts	16,910	10,258
TOTAL	136,001	77,789

Short-term deposits

As of

(in € thousands)

2022/12/31

2023/12/31

TERM ACCOUNTS

119,090

67,530

TOTAL

119,090

67,530

Cash and cash equivalents

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).

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of information about defined benefit plans [abstract]

Disclosure of benefit payments undere company's french retirement entity

The following assumed (undiscounted) benefit payments under the Company's French retirement indemnity are expected to be paid as follows:


2024			0
2025			36
2026			0
2027			68
2028			62
Years 2029 and thereafter			3,035

Disclosure of defined benefit plans [text block]

As part of the measurement of the retirement indemnity to employees, the following assumptions were used for all categories of employees in 2022 and 2023:


			Population			Permanent staff
			Retirement age			65
			Terms of retirement			Initiated by the employee
			Life expectancy			On the basis of the INSEE table (1)
			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)	2022/12/31		2023/12/31
Salary growth rate - in 2023	3.00	%	3.00	%
Salary growth rate - beyond	3.00	%	3.00	%
Discount rate (iboxx)	3.25	%	3.59	%

Disclosure of net defined benefit liability (asset) [text block]

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 01, 2022						864
			Current service cost						169
			Interest cost on benefit obligation						8
			Actuarial losses / (gains) on obligation						—
			Past service costs						(258)
			Service paid to employees						—
			Defined benefit obligation as of December 31, 2022						782
			Current service cost						137
			Interest cost on benefit obligation						25
			Actuarial losses / (gains) on obligation						—
			Past service costs						51
			Service paid to employees						(18)
			Defined benefit obligation as of December 31, 2023						978

Disclosure of sensitivity analysis for actuarial assumptions [text block]

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

Retirement and post-employment benefits

Sensitivity of the Group's retirement and post-employment benefits

Changes in

Impact /

to a variation of the discount rate

assumptions /

present value of

(in € thousands)

discount rate

the undertaking

0.25

(28)

0.25

Operating Expense - Summary of Employee Expenses and Number of Employees (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) employee	Dec. 31, 2022 EUR (€) employee	Dec. 31, 2021 EUR (€) employee
Disclosure Of Operating Expense [Line Items]
Wages and salaries \| €	€ (14,524)	€ (12,188)	€ (10,328)
Social security contributions \| €	(5,296)	(4,765)	(4,775)
Adjustments for provisions \| €	(119)	(169)	(154)
Profit sharing granted to employees \| €	0	0	(628)
Other short-term employee benefits \| €	(578)	(245)	(470)
Employee benefits expense \| €	€ (20,517)	€ (17,366)	€ (16,354)
Average number of employees \| employee	154	133	122
Number of employees \| employee	159	148	122
Research And Development [Member]
Disclosure Of Operating Expense [Line Items]
Number of employees \| employee	78	73	55
Services Related To Research And Development [Member]
Disclosure Of Operating Expense [Line Items]
Number of employees \| employee	18	18	18
Administration And Management [Member]
Disclosure Of Operating Expense [Line Items]
Number of employees \| employee	61	55	47
Marketing And Commercial [Member]
Disclosure Of Operating Expense [Line Items]
Number of employees \| employee	2	2	2

Trade and Other Receivables - Summary of Trade and Other Receivables (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade and other receivables [abstract]
Trade receivables	€ 18,526	€ 3,188
Social Security Costs Receivables	0	1
Value added tax receivables	1,476	1,288
Grants Receivables	7	4
Other receivables	498	126
Total trade and other receivables	32,707	15,906
Total trade and other current receivables	32,707	15,906
Total trade and other non-current receivables	0	0
Research Tax Credit Receivable	12,200	11,299	€ 4,906
Disclosure of trade and other receivables [Line Items]
Other receivables	€ 498	€ 126
Increase (Decrease) of Research Tax Credit Receivable			€ 5,282

Earnings (Loss) Per Share - Summary of Earnings (Loss) Per Share (Details) - EUR (€) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Profit (loss)	€ (28,894)	€ (23,719)	€ 67,259
Weighted average number of ordinary shares for the period (shares)	49,700,223,000	49,673,936,000	44,739,756,000
Basic earnings (loss) per share	€ (0.58)	€ (0.48)	€ 1.51
Weighted average number of ordinary shares used in calculating diluted earnings (loss) per share (in shares)	49,700,223,000	49,673,936,000	55,613,634,000
Diluted earnings (loss) per share	€ (0.58)	€ (0.48)	€ 1.23
Earnings per share [table]
Weighted average number of ordinary shares used in calculating diluted earnings (loss) per share (in shares)	49,700,223,000	49,673,936,000	55,613,634,000
B S A
Earnings per share [table]
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	35,070,000
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	35,070,000
A G A
Earnings per share [table]
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	136,100,000
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	136,100,000
S O
Earnings per share [table]
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	968,881,000
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	968,881,000
OCEANES
Earnings per share [table]
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	10,580,141,000
Number Of Shares Non Included In The Computation Of Diluted Earnings Per Share	10,580,141,000

Major Events in the Period and Events After the Period - Acquisition of the Clinical-stage Biopharmaceutical Company Versantis (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)	Sep. 29, 2022 EUR (€)	Sep. 19, 2022 EUR (€)	Dec. 31, 2020 EUR (€)
Disclosure of net assets and liabilities of Business Combination [Line Items]
Other current tax liabilities	€ 4,906,000	€ 23,000	€ 4,906,000
Current provisions	61,000	40,000	61,000
Current trade and other payables	14,845,000	18,799,000	14,845,000
Other non-current financial assets	4,914,000	4,125,000	4,914,000
Property, plant and equipment	8,210,000	7,872,000	8,210,000	€ 9,015,000
Current trade and others receivables	15,906,000	32,707,000	15,906,000
Cash and cash equivalents	136,001,000	77,789,000	136,001,000	258,756,000			€ 171,029,000
General and administrative expense		17,741,000	16,405,000	16,153,000
Research and development expense		46,503,000	35,818,000	35,166,000
ClosingForeignExchangeRateCHFEuro	1.01554	1.07991	1.01554
ClosingForeignExchangeRateUSDEuro	0.93756	0.90498	0.93756	0.88292
Exchange Rate CHF Euro used for Versantis acquisition conversion	1.04843		1.04843
Exchange Rate USD Euro used for Versantis acquisition conversion	€ 0.9706		€ 0.9706
Closing foreign exchange rate \| shares	1		1
Purchase of interests in associates		0	€ 41,525,000	€ 0
Versantis
Disclosure of net assets and liabilities of Business Combination [Line Items]
Name of acquiree			Versantis AG
Date of acquisition			Sep. 29, 2022
Cash transferred						€ 41,900,000
Net cash adjustment payment						2,900,000
Description of primary reasons for business combination			1.Consolidating GENFIT’s position as a leader in acute-on-chronic liver failure (ACLF)2.Significantly expanding GENFIT’s pipeline with VS-01-ACLF, a Phase 2 ready program based on first-in-class scavenging liposomes technology, VS-01-HAC, a pediatric program focused on Urea Cycle Disorder (UCD), and VS-02-HE, an early-stage program focused on hepatic encephalopathy (HE), and3.Combining Versantis’ expertise with GENFIT’s know-how in conducting complex development programs in liver diseases, to strengthen and accelerate research and development
Acquisition costs						€ 1,800,000
Assets (liabilities)		43,939,000
Total acquired liabilities		2,601,000			€ 4,425,000
Lease liabilities		282,000			302,000
Other current tax liabilities		33,000			63,000
Current provisions		672,000			858,000
Current trade and other payables		1,614,000			3,202,000
Total acquired assets		46,540,000			51,026,000
Other non-current financial assets		13,000			14,000
Property, plant and equipment		295,000			326,000
Intangible assets and goodwill		43,850,000			45,323,000
Other current assets		197,000			78,000
Current trade and others receivables		17,000			209,000
Cash and cash equivalents		2,168,000			5,076,000
General and administrative expense			€ 228,000
Research and development expense	€ 1,187,000
Total purchase price					€ 46,601,000
Percentage of fair value in asset value						90.00%
Versantis \| Estimated
Disclosure of net assets and liabilities of Business Combination [Line Items]
Research and development expense			€ 5,833,000
Versantis \| Switzerland, Francs
Disclosure of net assets and liabilities of Business Combination [Line Items]
Cash transferred						€ 40,000,000
Net cash adjustment payment						2,800,000
Additional milestone payments		€ 65,000,000				€ 65,000,000

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38844
Entity Registrant Name	GENFIT S.A.
Entity Incorporation, State or Country Code	I0
Entity Address, Address Line One	885, avenue Eugène Avinée
Entity Address, Postal Zip Code	59120
Entity Address, City or Town	Loos
Entity Address, Country	FR
Title of 12(b) Security	American Depositary Shares, each representing one ordinary share, nominal value €0.25 per share
Trading Symbol	GNFT
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	49,834,983
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001757064
Document Financial Statement Error Correction [Flag]	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	885, avenue Eugène Avinée
Entity Address, Postal Zip Code	59120
Entity Address, City or Town	Loos
Entity Address, Country	FR
Contact Personnel Name	Parc Eurasanté
Country Region	+33
City Area Code	(0)3
Local Phone Number	2016 4000
Contact Personnel Fax Number	+33 (0)3 2016 4001

Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Disclosure of number and weighted average exercise prices of other equity instruments [text block]

Information on share warrants activity is as follows for 2022:


Grant Date	Type	BSAs issued	BSAs outstanding as of January 1, 2022	BSAs awarded	BSAs exercised	BSAs cancelled/forfeited	BSAs outstanding as of December 31, 2022	BSAs exercisable as of December 31, 2022
31/10/2019	BSA 2019	35,070	35,070	0	0	0	35,070	35,070
06/12/2017	BSA 2017-A	18,345	18,345	0	0	18,345	0	0
06/12/2017	BSA 2017-B	18,345	18,345	0	0	18,345	0	0
TOTAL			71,760	0	0	36,690	35,070	35,070

Disclosure of share-based payment arrangements [text block]

Share-based compensation

Financial detail

Share-based compensation granted to employees and executive officers corresponds to stock options and free shares.

Share-based compensation granted to board members and consultants corresponds to share warrants. For the measurement of this share-based compensation, the Group 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 predetermined exercise price. All of the plans are equity settled.

In 2023 and 2022, only SO and AGA plans were granted as share-based compensation.

The expense recognized during 2023 pursuant to IFRS 2 was €578 (compared to €245 at December 31, 2022 and €470 at December 31, 2021).

The table below shows the share-based compensation by plan:


Share-based compensation - expense	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
SO 2018	186	—	—
SO US 2018	24	—	—
AGA S 2019	39	50	—
AGA D 2019	16	6	—
SO 2019	105	(21)	—
SO 2019 - US	(11)	(16)	—
BSA 2019	—	—	—
SO US 2019	(7)	—	—
SO D 2020	14	14	14
SO C 2020	40	40	40
SO US 2020	19	19	(7)
AGA S 2021	29	32	34
AGA D 2021	5	7	7
SO D 2021	2	13	12
SO C2021	9	55	50
SO US 2021	2	9	9
AGA S 2022	—	11	49
AGA D 2022	—	2	11
SO D 2022	—	4	18
SO C 2022	—	17	83
SO US 2022	—	4	18
SO SU 2022	—	—	4
AGA S 2023	—	—	47
AGA D 2023	—	—	12
SO D 2023	—	—	31
SO C 2023	—	—	104
SO US 2023	—	—	27
SO SU 2023	—	—	16














TOTAL	470	245	578

Share warrants

The following table summarizes the data relating to share warrants and the assumptions used for the measurement thereof, in accordance with IFRS 2—Share-based Payment:


Share warrants (BSA)	2019		2017
	BSA 2019		BSA 2017-A		BSA 2017-B
Option pricing model	Black Scholes
Fair value per IFRS 2	€0.75		€3.78		€3.81
Issue price	€1.23		€2.00		€2.00
Exercise price	€12.32		€19.97		€19.97
Expected volatility	40.0	%	36.4	%	35.7	%
End of exercise period	2024/05/31		2022/06/30		2022/07/15
Expected dividends	0	%	0	%	0	%
Risk free interest rate	0	%	0	%	0	%
Conversion ratio	1:1		1:1		1:1

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.)

Information on share warrants activity is as follows for 2023:


Grant Date	Type	BSAs issued	BSAs outstanding as of January 1, 2023	BSAs awarded	BSAs exercised	BSAs cancelled/forfeited	BSAs outstanding as of December 31, 2023	BSAs exercisable as of December 31, 2023
31/10/2019	BSA 2019	35,070	35,070	0	0	0	35,070	35,070
TOTAL			35,070	0	0	0	35,070	35,070

Information on share warrants activity is as follows for 2022:


Grant Date	Type	BSAs issued	BSAs outstanding as of January 1, 2022	BSAs awarded	BSAs exercised	BSAs cancelled/forfeited	BSAs outstanding as of December 31, 2022	BSAs exercisable as of December 31, 2022
31/10/2019	BSA 2019	35,070	35,070	0	0	0	35,070	35,070
06/12/2017	BSA 2017-A	18,345	18,345	0	0	18,345	0	0
06/12/2017	BSA 2017-B	18,345	18,345	0	0	18,345	0	0
TOTAL			71,760	0	0	36,690	35,070	35,070

Free shares (actions gratuites attribuées or AGA)

The following table summarizes the data relating to free shares and the assumptions used for the measurement thereof, in accordance with IFRS 2—Share-based Payment:


Free Shares (AGA)	2023		2022		2021				2019
	AGA D & S 2023		AGA D & S 2022		AGA S 2021		AGA D 2021		AGA D & S 2019
Option pricing model	Monte Carlo
Fair value per IFRS 2	€4.05		€4.08		€4.00		€4.15		€17.06
Grant date	03/10/2023		10/14/2022		03/30/2021		03/17/2021		07/18/2019
Share price at grant date	€4.05		€4.08		€4.00		€4.15		€17.06
Expected volatility	84.3	%	50	%	51	%	51	%	40.2	%
Vesting period	From 03/10/2023 to 03/13/2026		From 10/14/2022 to 10/16/2025		From 03/30/2021 to 03/31/2024		From 03/17/2021 to 03/31/2024		From 07/18/2019 to 09/16/2022
Expected dividends	0	%	0	%	0	%	0	%	0	%
Risk free interest rate	3.06	%	2.24	%	-0.59	%	-0.59	%	0	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%

The final allocation of free shares is subject to continued employment with the Group and performance conditions.

Information on free shares activity is as follows for 2023:


Grant Date	Type	AGAs issued	AGAs outstanding as of January 1, 2023	AGAs awarded	AGAs vested	AGAs cancelled/ forfeited	AGAs outstanding as of December 31, 2023
03/13/2023	AGA S 2023	30,900		30,900		2,300	28,600
03/13/2023	AGA D 2023	10,000		10,000			10,000
10/14/2022	AGA S 2022	39,200	38,900			2,400	36,500
10/14/2022	AGA D 2022	20,000	20,000				20,000
03/30/2021	AGA S 2021	32,400	26,300			300	26,000
03/17/2021	AGA D 2021	15,000	15,000				15,000
TOTAL			100,200	40,900	0	5,000	136,100

Information on free shares activity is as follows for 2022:


Grant Date	Type	AGAs issued	AGAs outstanding as of January 1, 2022	AGAs awarded	AGAs vested	AGAs cancelled/ forfeited	AGAs outstanding as of December 31, 2022
10/14/2022	AGA S 2022	39,200		39,200		300	38,900
10/14/2022	AGA D 2022	20,000		20,000			20,000
03/30/2021	AGA S 2021	32,400	29,000			2,700	26,300
03/17/2021	AGA D 2021	15,000	15,000				15,000
07/18/2019	AGA S 2019	17,556	10,782		10,782		0
07/18/2019	AGA D 2019	19,070	13,068		8,712	4,356	0
TOTAL			67,850	59,200	19,494	7,356	100,200

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

The following tables summarize the data relating to stock options and the assumptions used for the measurement thereof, in accordance with IFRS 2—Share-based Payment:


Stock options (SO)	2023
	SO SU 2023		SO D 2023		SO C 2023		SO US 2023
Option pricing model	Black Scholes
Fair value per IFRS 2	€2.39		€2.19		€2.39		€2.19
Grant date	3/13/2023		3/13/2023		3/13/2023		3/13/2023
Share price at grant date	€4.00		€4.00		€4.00		€4.00
Exercise price	€3.26		€4.07		€3.26		€4.05
Expected volatility	83.74	%	83.74	%	83.74	%	83.74	%
Vesting period	From 03/13/2023 to 03/13/2026
Exercise period	From 03/14/2023 to 03/13/2033
Expected dividends	0	%	0	%	0	%	0	%
Risk free interest rate	2.75	%	2.75	%	2.75	%	2.75	%
Conversion ratio	1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%


Stock options (SO)	2022								2021
	SO SU 2022		SO D 2022		SO C 2022		SO US 2022		SO D 2021		SO C 2021		SO US 2021
Option pricing model	Black Scholes
Fair value per IFRS 2	€1.40		€1.57		€1.90		€1.56		€1.06		€1.30		€1.07
Grant date	12/2/2022		10/17/2022		10/17/2022		10/17/2022		10/20/2021		10/20/2021		10/20/2021
Share price at grant date	€3.46		€4.16		€4.16		€4.16		€3.24		€3.24		€3.24
Exercise price	€2.95		€3.91		€3.12		€3.94		€3.26		€2.61		€3.22
Expected volatility	49.0	%	50.0	%	50.0	%	50.0	%	50.0	%	50.0	%	50.0	%
Vesting period	From 3/12/2022 to 3/12/2025		From 17/10/2022 to 17/10/2025						From 20/10/2021 to 20/10/2024
Exercise period	From 3/12/2022 to 3/12/2032		From 18/10/2025 to 17/10/2032						From 21/10/2024 to 21/10/2031
Expected dividends	0	%	0	%	0	%	0	%	0	%	0	%	0	%
Risk free interest rate	2.1	%	2.24	%	2.24	%	2.24	%	-0.6	%	-0.6	%	-0.6	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%	0	%	0	%


Stock options (SO)	2020						2019
	SO D 2020		SO C 2020		SO US 2020		SO 2019		SO US 1 2019		SO US 2 2019
Option pricing model	Black Scholes
Fair value per IFRS 2	€1.16		€1.46		€1.12		€4.59		€3.67		€3.23
Grant date	12/31/2020		12/31/2020		12/31/2020		7/18/2019		7/18/2019		11/27/2019
Share price at grant date	€3.99		€3.99		€3.99		€17.06		€17.06		€14.50
Exercise price	€4.38		€3.50		€4.52		€13.99		€16.90		€14.31
Expected volatility	49.0	%	49.0	%	49.0	%	40.0	%	40.0	%	40.0	%
Vesting period	From 31/12/2020 to 31/12/2023						From 18/07/2019 to 16/09/2022				From 27/11/2019 to 16/01/2023
Exercise period	From 01/01/2024 to 31/12/2027						From 17/09/2022 to 17/09/2029				From 17/01/2023 to 17/01/2030
Expected dividends	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%
Risk free interest rate	-0.7	%	-0.7	%	-0.7	%	0.0	%	0.0	%	0.0	%
Conversion ratio	1:1		1:1		1:1		1:1		1:1		1:1
Expected employee turnover	0	%	0	%	0	%	0	%	0	%	0	%


Stock options (SO)	2018				2017		2016
	SO 2018		SO US 2018		SO 2017		SO 2016
Option pricing model	Black Scholes
Fair value per IFRS 2	€9.32		€6.90		€9.32		€10.30
Grant date	11/7/2018		11/7/2018		12/6/2017		12/15/2016
Share price at grant date	€22.10		€22.10		€21.95		€20.79
Exercise price	€16.00		€21.65		€17.91		€15.79
Expected volatility	44.1	%	44.1	%	53.7	%	63.0	%
Vesting period	From 07/11/2018 to 31/12/2021				From 06/12/2017 to 31/12/2020		From 15/12/2016 to 15/12/2019
Exercise period	From 01/01/2022 to 31/12/2028				From 01/01/2021 to 31/12/2027		From 16/12/2019 to 16/12/2026
Expected dividends	0	%	0	%	0	%	0	%
Risk free interest rate	0.0	%	0.0	%	0.0	%	0.0	%
Conversion ratio	1:1		1:1		1:1		1:1
Expected employee turnover	15	%	15	%	15	%	15	%

Definitive vesting is subject to continued employment with the Group and performance conditions.

Information on stock options activity is as follows for 2023:


Grant Date	Type	SO issued	SO outstanding as of January 1, 2023	SO awarded	SO cancelled/ forfeited	SO exercised	SO outstanding as of December 31, 2023	SO exercisable as of December 31, 2023
03/13/2023	SO SU 2023	16,300		16,300			16,300
03/13/2023	SO D 2023	35,000		35,000			35,000
03/13/2023	SO C 2023	108,700		108,700			108,700
03/13/2023	SO US 2023	30,200		30,200			30,200
02/12/2022	SO SU 2022	8,750	8,750				8,750	0
10/17/2022	SO D 2022	35,000	35,000				35,000	0
10/17/2022	SO C 2022	131,000	131,000				131,000	0
10/17/2022	SO US 2022	34,625	34,625				34,625	0
10/20/2021	SO D 2021	35,000	35,000				35,000	0
10/20/2021	SO C 2021	134,375	124,375		4,000		120,375	0
10/20/2021	SO US 2021	32,500	25,000				25,000	0
12/31/2020	SO D 2020	35,000	35,000				35,000	35,000
12/31/2020	SO C 2020	103,750	81,250				81,250	81,250
12/31/2020	SO US 2020	56,250	50,000		22,500		27,500	27,500
07/18/2019	SO 2019	107,880	51,343				51,343	51,343
07/18/2019	SO US 1 2019	30,620	5,113				5,113	5,113
11/07/2018	SO 2018	122,000	68,329				68,329	68,329
11/07/2018	SO US 2018	17,500	9,713				9,713	9,713
12/06/2017	SO 2017-1	64,164	43,212				43,212	43,212
12/06/2017	SO 2017-2	32,086	17,765				17,765	17,765
12/15/2016	SO 2016-1	41,917	34,398				34,398	34,398
12/15/2016	SO 2016-2	20,958	15,308				15,308	15,308
TOTAL			805,181	190,200	26,500	0	968,881	388,931

Information on stock options activity is as follows for 2022:


Grant Date	Type	SO issued	SO outstanding as of January 1, 2022	SO awarded	SO cancelled/ forfeited	SO exercised	SO outstanding as of December 31, 2022	SO exercisable as of December 31, 2022
02/12/2022	SO SU 2022	8,750		8,750			8,750	0
10/17/2022	SO D 2022	35,000		35,000			35,000	0
10/17/2022	SO C 2022	131,000		131,000			131,000	0
10/17/2022	SO US 2022	34,625		34,625			34,625	0
10/20/2021	SO D 2021	35,000	35,000				35,000	0
10/20/2021	SO C 2021	134,375	134,375		10,000		124,375	0
10/20/2021	SO US 2021	32,500	25,000				25,000	0
12/31/2020	SO D 2020	35,000	35,000				35,000	0
12/31/2020	SO C 2020	103,750	81,250				81,250	0
12/31/2020	SO US 2020	56,250	50,000				50,000	0
07/18/2019	SO 2019	107,880	77,015		25,672		51,343	51,343
07/18/2019	SO US 1 2019	30,620	7,670		2,557		5,113	5,113
11/07/2018	SO 2018	122,000	68,329				68,329	68,329
11/07/2018	SO US 2018	17,500	9,713				9,713	9,713
12/06/2017	SO 2017-1	64,164	43,212				43,212	43,212
12/06/2017	SO 2017-2	32,086	17,765				17,765	17,765
12/15/2016	SO 2016-1	41,917	34,398				34,398	34,398
12/15/2016	SO 2016-2	20,958	15,308				15,308	15,308
TOTAL			634,035	209,375	38,229	0	805,181	245,181

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") and SO plans implemented starting in 2020 are subject only to internal performance conditions.

Performance conditions of 2023 plans


Plans			Nature of performance conditions
SO D 2023 SO C 2023 SO US 2023 SO SU 2023 AGA S 2023 AGA D 2023 Evaluation date for performance conditions: 3/13/2026			Internal conditions - a) 50% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 5,000 of the Free Shares for the AGA D 2023 will be vest, if during 2023 and then at any time during the Vesting Period, 2 new R&D programs (at the rate of one-half of these 2023 instruments per new program), join the Company’s R&D pipeline (as evaluated at December 31, 2022) ; and that these programs are at the clinical development stage at the time they join the pipeline or that they later enter this stage, following: (i) A business development transaction (in-licensing, M&A, etc.) or, (ii) Identification of new opportunities resulting from in-house research (program going from preclinical development stage to clinical development stage). b) 25% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 2,500 of the Free Shares for the AGA D 2023 will vest, if at least one of the two following conditions related to development of elafibranor in PBC is met: (i) Filing of the Marketing Authorization Application in the fourth quarter of 2023 (in Europe or the United States); (ii) Marketing Authorization obtained in 2024 (in Europe or the United States). c) 15% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 1,500 of the Free Shares for the AGA D 2023 will vest, if at least one of the two following conditions related to the development of the ACLF program is met: (i) VS-01 in ACLF: top-line results from the Phase 2 study obtained in 2024 or communication of final results on the Phase 2 study in 2025; (ii) NTZ : start of a Phase 2 clinical trial in the second half of 2023. d) 10% of the instruments SO D 2023/SO C 2023/SO US 2023/ SO SU 2023/AGA S 2023 will be exercisable or definitively vest, and 1,000 of the Free Shares for the AGA D 2023 will vest, if intermediate results in the Phase 1b/2 of GNS561 are obtained in the fourth quarter 2024 or final results obtained in 2025. External conditions - Each applicable portion of all 10,000 Free Shares under the AGA D 2023 plan, as each Internal Conditions above is met, is then subject to the External Condition according to the methods described below. The degree of fulfillment of the External Condition relating to the Company's stock market price will be determined according to the relative performance of GENFIT shares. Each applicable portion of all 10,000 Free Shares under the AGA D 2023 plan, as each Internal Conditions above is met, will be definitively acquired per the following conditions: (a) No AGA D 2023 shall vest if the Final Price is strictly lower than the Initial Price; (b) If the Final Price is between (i) a value equal to or greater than the Initial Price and (ii) a value lower than the Ceiling Price, the number of AGA D 2023 definitively allocated will be equal to: [(Final Price / Initial Price) -1] x 1/2 of the number of AGA D 2023 instruments (c) All AGA D 2023 if the Final Price is equal to or higher than the Ceiling Price. The notions of “Final Price”, “Initial Price” and “Ceiling Price” are defined in the plan regulations.

Performance conditions of 2022 plans


Plans			Nature of performance conditions
SO D 2022 SO C 2022 SO US 2022 SO SU 2022 AGA S 2022 AGA D 2022 Evaluation date for performance conditions: - 10/17/2025 for SO D 2022/SO C 2022/SO US 2022/AGA S 2022/AGA D 2022 - 12/3/2025 for SO SU 2022			Internal conditions - a) 50% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 10,000 of the Free Shares for the AGA D 2022 will vest, if during the 2022 financial year and then at any time during the Vesting Period, 3 new R&D programs (at the rate of one third of these 2022 instruments per new program) complete the Company's R&D program portfolio (as it was at 12/31/2021); that these programs are at the so-called clinical development stage when this addition is made or that they reach this stage afterwards and that this addition originates: (i) a business-development operation (licensing-in, M&A, etc.), or (ii) the identification of new opportunities resulting from internal research (repositioning). b) 25% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 5,000 of the Free Shares for the AGA D 2022 will vest, if at least one of the following three conditions relating to the development of the elafibranor development program is fulfilled: (i) obtaining the main results of the first part of the ELATIVE® trial in the second quarter of 2023; (ii) filing of a Marketing Authorization Application for elafibranor in the second half of 2023; (iii) marketing authorization for elafibranor in 2024. c) 15% of the instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 3,000 of the Free Shares for the AGA D 2022 will vest, if at least one of the following two conditions relating to the development of the NTZ program in the ACLF is fulfilled: (i) First clinical results in 2022; (ii) Start of a Phase 2 clinical trial in the first half of 2023. d) 10% of instruments SO D 2022/SO C 2022/SO US 2022/ SO SU 2022/AGA S 2022 will be exercisable or definitively vest, and 2,000 of the Free Shares for the AGA D 2022 will vest, if as part of the development of the GNS561 program, a Phase 2b trial starts in the first half of 2023. External conditions - Each applicable portion of all 20,000 Free Shares under the AGA D 2022 plan, as each Internal Conditions above is met, is then subject to the External Condition according to the methods described below. The degree of fulfillment of the External Condition relating to the Company's stock market price will be determined according to the relative performance of GENFIT shares. Each applicable portion of all 20,000 Free Shares under the AGA D 2022 plan, as each Internal Conditions above is met, will be definitively acquired per the following conditions: (a) No AGA D 2022 shall vest if the Final Price is strictly lower than the Initial Price; (b) If the Final Price is between (i) a value equal to or greater than the Initial Price and (ii) a value lower than the Ceiling Price, the number of AGA D 2022 definitively allocated will be equal to:[(Final Price / Initial Price) -1] x 1/2 of the number of AGA D 2022 instruments (c) All AGA D 2022 if the Final Price is equal to or higher than the Ceiling Price. The notions of “Final Price”, “Initial Price” and “Ceiling Price” are defined in the plan regulations.

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Stock Options (Details)	12 Months Ended
	Dec. 31, 2023 shares € / shares	Dec. 31, 2022 shares € / shares	Dec. 31, 2021 shares € / shares	Dec. 31, 2020 € / shares	Dec. 31, 2019 € / shares	Dec. 31, 2018 € / shares	Dec. 31, 2017 € / shares	Dec. 31, 2016 € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,070	35,070	71,760
Total number of BSAAR voided (in shares)	0	36,690
Number of other equity instruments exercisable in share-based payment arrangement	35,070	35,070
SO SU 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares	€ 3.26
Exercice period	From 03/14/2023 to 03/13/2033
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares	€ 2.39
Price of the share at the time of allocation \| € / shares	€ 4.00
Expected dividends	0.00%
Expected volatility	83.74%
Risk-free interest rate	2.75%
Conversion ratio	1:1
Turnover rate	0.00%
Grant date	Mar. 13, 2023
Acquisition period	From 03/13/2023 to 03/13/2026
Total number of BSAAR subscribed (in shares)	16,300
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	16,300
Total number of BSAAR subscribed	16,300
SO D 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares	€ 4.07
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares	2.19
Price of the share at the time of allocation \| € / shares	€ 4.00
Expected dividends	0.00%
Expected volatility	83.74%
Risk-free interest rate	2.75%
Conversion ratio	1:1
Turnover rate	0.00%
Grant date	Mar. 13, 2023
Total number of BSAAR subscribed (in shares)	35,000
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	35,000
Total number of BSAAR subscribed	35,000
SO C2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares	€ 3.26
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares	2.39
Price of the share at the time of allocation \| € / shares	€ 4.00
Expected dividends	0.00%
Expected volatility	83.74%
Risk-free interest rate	2.75%
Conversion ratio	1:1
Turnover rate	0.00%
Grant date	Mar. 13, 2023
Total number of BSAAR subscribed (in shares)	108,700
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	108,700
Total number of BSAAR subscribed	108,700
SO US 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares	€ 4.05
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares	2.19
Price of the share at the time of allocation \| € / shares	€ 4.00
Expected dividends	0.00%
Expected volatility	83.74%
Risk-free interest rate	2.75%
Conversion ratio	1:1
Turnover rate	0.00%
Grant date	Mar. 13, 2023
Total number of BSAAR subscribed (in shares)	30,200
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	30,200
Total number of BSAAR subscribed	30,200
S O
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercice period		From 18/10/2025 to 17/10/2032
Valuation method used	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes	Black Scholes
Acquisition period		From 17/10/2022 to 17/10/2025
Total number of BSAAR subscribed (in shares)	968,881	805,181	634,035
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement	190,200	209,375
Total number of BSAAR voided (in shares)	26,500	38,229
Number of other equity instruments exercisable in share-based payment arrangement	388,931	245,181
S O2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares					€ 13.99
Exercice period					From 17/09/2022 to 17/09/2029
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares					€ 4.59
Price of the share at the time of allocation \| € / shares					€ 17.06
Expected dividends					0.00%
Expected volatility					40.00%
Risk-free interest rate					0.00%
Conversion ratio					1:1
Turnover rate					0.00%
Grant date					Jul. 18, 2019
Acquisition period					From 18/07/2019 to 16/09/2022
Total number of BSAAR subscribed (in shares)	51,343	51,343	77,015
Total number of BSAAR subscribed	107,880	107,880
Total number of BSAAR voided (in shares)		25,672
Number of other equity instruments exercisable in share-based payment arrangement	51,343	51,343
S O2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares						€ 16.00
Exercice period						From 01/01/2022 to 31/12/2028
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares						€ 9.32
Price of the share at the time of allocation \| € / shares						€ 22.10
Expected dividends						0.00%
Expected volatility						44.10%
Risk-free interest rate						0.00%
Conversion ratio						1:1
Turnover rate						15.00%
Grant date						Nov. 07, 2018
Acquisition period						From 07/11/2018 to 31/12/2021
Total number of BSAAR subscribed (in shares)	68,329	68,329	68,329
Total number of BSAAR subscribed	122,000	122,000
Number of other equity instruments exercisable in share-based payment arrangement	68,329	68,329
S O U S2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares						€ 21.65
Exercice period						From 01/01/2022 to 31/12/2028
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares						€ 6.90
Price of the share at the time of allocation \| € / shares						€ 22.10
Expected dividends						0.00%
Expected volatility						44.10%
Risk-free interest rate						0.00%
Conversion ratio						1:1
Turnover rate						15.00%
Grant date						Nov. 07, 2018
Acquisition period						From 07/11/2018 to 31/12/2021
Total number of BSAAR subscribed (in shares)	9,713	9,713	9,713
Total number of BSAAR subscribed	17,500	17,500
Number of other equity instruments exercisable in share-based payment arrangement	9,713	9,713
AGA D and S
Disclosure of terms and conditions of share-based payment arrangement [line items]
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares	€ 4.05	€ 4.08			€ 17.06
Valuation method used	Monte Carlo			Monte Carlo	Monte Carlo
Price of the share at the time of allocation \| € / shares	€ 4.05	€ 4.08			€ 17.06
Expected dividends	0.00%	0.00%			0.00%
Expected volatility	84.30%	50.00%			40.20%
Risk-free interest rate	3.06%	2.24%			0.00%
Conversion ratio	1:1	1:1			1:1
Turnover rate	0.00%	0.00%			0.00%
Grant date	Mar. 10, 2023	Oct. 14, 2022			Jul. 18, 2019
Acquisition period	From 03/10/2023to 03/13/2026	From 10/14/2022 to 10/16/2025			From 07/18/2019 to 09/16/2022
AGA D
Disclosure of terms and conditions of share-based payment arrangement [line items]
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			€ 4.00
Valuation method used	Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 4.00
Expected dividends			0.00%
Expected volatility			51.00%
Risk-free interest rate			(0.59%)
Conversion ratio			1:1
Turnover rate			0.00%
Grant date			Mar. 30, 2021
Acquisition period			From 03/30/2021 to 03/31/2024
AGA D and S 2017-1 and 2017-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Valuation method used						Monte Carlo
AGA D and S 2016-1 and 2016-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Valuation method used							Monte Carlo
A G A S [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			€ 4.15
Valuation method used		Monte Carlo
Price of the share at the time of allocation \| € / shares			€ 4.15
Expected dividends			0.00%
Expected volatility			51.00%
Risk-free interest rate			(0.59%)
Conversion ratio			1:1
Turnover rate			0.00%
Grant date			Mar. 17, 2021
Acquisition period			From 03/17/2021 to 03/31/2024
SO C2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares			€ 2.61
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			1.30
Price of the share at the time of allocation \| € / shares			€ 3.24
Expected dividends			0.00%
Expected volatility			50.00%
Risk-free interest rate			(0.60%)
Conversion ratio			1:1
Turnover rate			0.00%
Grant date			Oct. 20, 2021
Total number of BSAAR subscribed (in shares)	120,375	124,375	134,375
Total number of BSAAR subscribed	134,375	134,375
Total number of BSAAR voided (in shares)	4,000	10,000
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO D 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares			€ 3.26
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			1.06
Price of the share at the time of allocation \| € / shares			€ 3.24
Expected dividends			0.00%
Expected volatility			50.00%
Risk-free interest rate			(0.60%)
Conversion ratio			1:1
Turnover rate			0.00%
Grant date			Oct. 20, 2021
Total number of BSAAR subscribed (in shares)	35,000	35,000	35,000
Total number of BSAAR subscribed	35,000	35,000
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO US 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares			€ 3.22
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			1.07
Price of the share at the time of allocation \| € / shares			€ 3.24
Expected dividends			0.00%
Expected volatility			50.00%
Risk-free interest rate			(0.60%)
Conversion ratio			1:1
Turnover rate			0.00%
Grant date			Oct. 20, 2021
Total number of BSAAR subscribed (in shares)	25,000	25,000	25,000
Total number of BSAAR subscribed	32,500	32,500
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO US 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares		€ 3.94
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares		1.56
Price of the share at the time of allocation \| € / shares		€ 4.16
Expected dividends		0.00%
Expected volatility		50.00%
Risk-free interest rate		2.24%
Conversion ratio		1:1
Turnover rate		0.00%
Grant date		Oct. 17, 2022
Total number of BSAAR subscribed (in shares)	34,625	34,625
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		34,625
Total number of BSAAR subscribed	34,625	34,625
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO C2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares		€ 3.12
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares		1.90
Price of the share at the time of allocation \| € / shares		€ 4.16
Expected dividends		0.00%
Expected volatility		50.00%
Risk-free interest rate		2.24%
Conversion ratio		1:1
Turnover rate		0.00%
Grant date		Oct. 17, 2022
Total number of BSAAR subscribed (in shares)	131,000	131,000
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		131,000
Total number of BSAAR subscribed	131,000	131,000
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO D 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares		€ 3.91
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares		1.57
Price of the share at the time of allocation \| € / shares		€ 4.16
Expected dividends		0.00%
Expected volatility		50.00%
Risk-free interest rate		2.24%
Conversion ratio		1:1
Turnover rate		0.00%
Grant date		Oct. 17, 2022
Total number of BSAAR subscribed (in shares)	35,000	35,000
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		35,000
Total number of BSAAR subscribed	35,000	35,000
Number of other equity instruments exercisable in share-based payment arrangement	0	0
SO SU 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares		€ 2.95
Exercice period		From 3/12/2022 to 3/12/2032
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares		€ 1.40
Price of the share at the time of allocation \| € / shares		€ 3.46
Expected dividends		0.00%
Expected volatility		49.00%
Risk-free interest rate		2.10%
Conversion ratio		1:1
Turnover rate		0.00%
Grant date		Dec. 02, 2022
Acquisition period		From 3/12/2022 to 3/12/2025
Total number of BSAAR subscribed (in shares)	8,750	8,750
Number Of Other Equity Instruments Awarded In Share Based Payment Arrangement		8,750
Total number of BSAAR subscribed	8,750	8,750
Number of other equity instruments exercisable in share-based payment arrangement	0	0
S O US 2 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares					€ 14.31
Exercice period					From 17/01/2023 to 17/01/2030
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares					€ 3.23
Price of the share at the time of allocation \| € / shares					€ 14.50
Expected dividends					0.00%
Expected volatility					40.00%
Risk-free interest rate					0.00%
Conversion ratio					1:1
Turnover rate					0.00%
Grant date					Nov. 27, 2019
Acquisition period					From 27/11/2019 to 16/01/2023
S O US 1 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares					€ 16.90
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares					3.67
Price of the share at the time of allocation \| € / shares					€ 17.06
Expected dividends					0.00%
Expected volatility					40.00%
Risk-free interest rate					0.00%
Conversion ratio					1:1
Turnover rate					0.00%
Grant date					Jul. 18, 2019
Total number of BSAAR subscribed (in shares)	5,113	5,113	7,670
Total number of BSAAR subscribed	30,620	30,620
Total number of BSAAR voided (in shares)		2,557
Number of other equity instruments exercisable in share-based payment arrangement	5,113	5,113
S O U S2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares				€ 4.52
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares				1.12
Price of the share at the time of allocation \| € / shares				€ 3.99
Expected dividends				0.00%
Expected volatility				49.00%
Risk-free interest rate				(0.70%)
Conversion ratio				1:1
Turnover rate				0.00%
Grant date				Dec. 31, 2020
Total number of BSAAR subscribed (in shares)	27,500	50,000	50,000
Total number of BSAAR subscribed	56,250	56,250
Total number of BSAAR voided (in shares)	22,500
Number of other equity instruments exercisable in share-based payment arrangement	27,500	0
S O C2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares				€ 3.50
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares				1.46
Price of the share at the time of allocation \| € / shares				€ 3.99
Expected dividends				0.00%
Expected volatility				49.00%
Risk-free interest rate				(0.70%)
Conversion ratio				1:1
Turnover rate				0.00%
Grant date				Dec. 31, 2020
Total number of BSAAR subscribed (in shares)	81,250	81,250	81,250
Total number of BSAAR subscribed	103,750	103,750
Number of other equity instruments exercisable in share-based payment arrangement	81,250	0
S O D2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares				€ 4.38
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares				1.16
Price of the share at the time of allocation \| € / shares				€ 3.99
Expected dividends				0.00%
Expected volatility				49.00%
Risk-free interest rate				(0.70%)
Conversion ratio				1:1
Turnover rate				0.00%
Grant date				Dec. 31, 2020
Total number of BSAAR subscribed (in shares)	35,000	35,000	35,000
Total number of BSAAR subscribed	35,000	35,000
Number of other equity instruments exercisable in share-based payment arrangement	35,000	0
S O 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercice period				From 01/01/2024 to 31/12/2027
Acquisition period				From 31/12/2020 to 31/12/2023
SO 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares								€ 15.79
Exercice period								From 16/12/2019 to 16/12/2026
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares								€ 10.30
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%
Conversion ratio								1:1
Turnover rate								15.00%
Grant date								Dec. 15, 2016
Acquisition period								From 15/12/2016 to 15/12/2019
SO 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Excercise price (in EUR per share) \| € / shares							€ 17.91
Exercice period							From 01/01/2021 to 31/12/2027
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares							€ 9.32
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%
Conversion ratio							1:1
Turnover rate							15.00%
Grant date							Dec. 06, 2017
Acquisition period							From 06/12/2017 to 31/12/2020
S O 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercice period			From 21/10/2024 to 21/10/2031
Acquisition period			From 20/10/2021 to 20/10/2024
S O20171 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	43,212	43,212	43,212
Total number of BSAAR subscribed	64,164	64,164
Number of other equity instruments exercisable in share-based payment arrangement	43,212	43,212
S O20161 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	34,398	34,398	34,398
Total number of BSAAR subscribed	41,917	41,917
Number of other equity instruments exercisable in share-based payment arrangement	34,398	34,398
S O20172 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	17,765	17,765	17,765
Total number of BSAAR subscribed	32,086	32,086
Number of other equity instruments exercisable in share-based payment arrangement	17,765	17,765
S O20162 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	15,308	15,308	15,308
Total number of BSAAR subscribed	20,958	20,958
Number of other equity instruments exercisable in share-based payment arrangement	15,308	15,308

Intangible Assets

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The company does not have any goodwill.

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.

In the event of an acquisition not qualifying as a business combination under IFRS 3, GENFIT initially records the acquired asset at cost of the consideration transferred, excluding variable payments that are dependent on future events. No liability is recognized initially for these contingent payments. A liability will be recorded when the condition that triggers the obligation occurs.

The variable payments that would be due if the asset acquired complies with agreed-upon specifications at specific dates in the future are recognized as an adjustment to the cost of the related asset.

Seal Rock licence agreement (2023)

As previously noted in Note 2 - "Major events in the period and events after the period", on May 31, 2023, GENFIT announced the signing of a licensing agreement for the exclusive worldwide rights to the injectable formulation of ASK1 inhibitor SRT-015 in acute liver disease with Seal Rock Therapeutics, a clinical-stage company based in Seattle, USA.

Under the terms of the agreement, GENFIT made an upfront payment in the amount of €2 million to Seal Rock in exchange for acquiring the know-how and rights of use to SRT-015 as described above. The addition is recorded in the table below under line item "Other intangibles."

In accordance with IAS 38 - Intangible assets, this amount was capitalized and allocated to Intangible assets. Further, given the nature of the intangible asset, it was determined to have a definite useful life of 20 years, consistent with patent lifetimes in the United States and the European Union. Amortization will start based on the remaining patent term upon EMA/FDA regulatory approval and until then will be subject to an annual impairment test in accordance with IAS 38 - Intangible Assets. As future milestones for this agreement are paid, they will be analyzed and be either i) capitalized and subject to the same annual impairment test or ii) expensed as incurred. The annual impairment test will be based on a valuation methodology including an income approach using discounted cash flow techniques for the injectable formulation of ASK1 inhibitor SRT-015 in acute liver disease.

In 2023, no indications of impairment was identified.

Versantis (2022)

As noted in N ote 30 - "Acquisitions ", on September 29, 2022, GENFIT acquired Versantis AG, a private Swiss-based clinical stage biotechnology company focused on addressing the growing unmet medical needs in liver diseases.

The Phase 2 ready program, VS-01-ACLF, a program in scavenging liposomes technology, was deemed to be the asset with substantially all attributable value in accordance with the optional concentration test of fair value under paragraph B7A of IFRS 3. Of the total acquisition price paid of €46.6 million, €43.9 million was allocated to Intangible assets in accordance with IAS 38 - Intangible Assets. The difference between that amount and the acquisition price corresponds to the other assets acquired and liabilities assumed as part of the transaction. Further, given the nature of the intangible asset, it was determined to have a definite useful life of 20 years, consistent with patents lifetimes in the United States and the European Union. Amortization will start upon EMA/FDA regulatory approval and until then will be subject to an annual impairment test in accordance with IAS 38 - Intangible Assets.

In accordance with IAS 36, we performed an annual impairment test in 2023 related to the Versantis intangible asset (and in general whenever there is a triggering event), which was based on the excess earnings method using discounted cash flow techniques for the scientific research program VS-01. The aforementioned income method utilizes management’s estimates of future operating revenue, cash flows discounted using a weighted-average cost of capital that reflects market participant assumptions, and the expected success rate of the program based on similar external programs. Based on our analysis performed as of December 31, 2023, the initial valuation of €43.9 million is still appropriate and no impairment loss has been recognized.

The period over which management has projected its cash flows spans through 2036. The drug price growth rate used to extrapolate cash flow projections is 2%. Furthermore, we have performed the following sensitivity analyses in order to determine if a reasonably possible change in a key assumption on which we have based our determination of the recoverable amount would cause the carrying amount of the intangible asset to exceed its recoverable amount.

Values assigned to each key assumption

Discount rate: 12%

The amount by which the value assigned to the weighted average cost of capital must change in order for the recoverable amount to be equal to the carrying amount: 5.4%

Overall expected success rate of the program: 15.1%

The amount by which the value assigned to the expected rate of success of the program must change in order for the recoverable amount to be equal to the carrying amount: 6.2%

Indicators of impairment considered by the Group as part of the implementation of the impairment test above are as follows:

•Failure of or unfavorable data from our clinical trials

•Competition from other clinical trial programs covering the same indications as our drug candidates

•Availability of necessary financing

The following tables show the variations in intangible assets for the years ended December 31, 2022 and 2023:


	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	12/31/2021			adjustments		12/31/2022
Gross


Software	1,294	81	(398)	—	—	977
Patents	70	281	—	—	—	351

Other intangibles	—	43,569	—	—	—	43,569
TOTAL—Gross	1,364	43,931	(398)	—	—	44,897
Accumulated depreciation and impairment


Software	(1,190)	(79)	329	—	—	(940)
Patents	—	—	—	—	—	—

Other intangibles	—	—	—	—	—	—
TOTAL - Accumulated depreciation and impairment	(1,190)	(79)	329	—	—	(940)
TOTAL - Net	174	43,852	(69)	—	—	43,957


	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	12/31/2022			adjustments		2023/12/31
Gross


Software	977	24	(45)	—	—	955
Patents	351	—	—	—	18	369

Other intangibles	43,569	2,050	—	2,746	—	48,366
TOTAL—Gross	44,897	2,074	(45)	2,746	18	49,690
Accumulated depreciation and impairment


Software	(940)	(63)	75	—	—	(928)
Patents	—	—	—	—	—	—

Other intangibles	—	—	—	—	—	—
TOTAL - Accumulated depreciation and impairment	(940)	(63)	75	—	—	(928)
TOTAL - Net	43,957	2,010	29	2,746	18	48,761

Operating segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment information [Abstract]

Disclosure of non-curent assets by geographical area

Non-current assets break down by geographical area as follows:

NON-CURRENT ASSETS

As of December 31, 2022

As of December 31, 2023

(thousands of euros)

France

Switzerland

Total

France

Switzerland

Total

TOTAL

12,923

44,158

57,081

13,869

46,889

60,758

Disclosure of revenue breakdown by geographical area

Revenue breakdown by geographical area


Revenue by destination	Year ended
(in € thousands)	12/31/2021		12/31/2022		12/31/2023
Revenue from France	100	%	100	%	100	%
Revenue from other countries	—	%	—	%	—	%
TOTAL	100	%	100	%	100	%

Financial Risks Management - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Oct. 16, 2017
Foreign Exchange Rates [Line Items]
Fluctuation in currency (in percent)	10.00%
Cash and cash equivalents and other financial assets	€ 81,913	€ 145,464
OCEANE
Foreign Exchange Rates [Line Items]
Aggregate nominal amount			€ 180,000
Interest Rate Risk
Foreign Exchange Rates [Line Items]
Financial liabilities	€ 70,200	€ 75,300

- Definition

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

Income Tax (Tables)

12 Months Ended

Dec. 31, 2023

Deferred tax expense (income) [abstract]

Schedule of effective tax rate


	Year ended
(in € thousands)	2021/12/31		2022/12/31		2023/12/31
Net profit (loss)	67,259		(23,719)		(28,894)
Income tax benefit (expense)	(2,215)		116		(380)
Net profit (loss) before tax	69,474		(23,836)		(28,514)
Tax rate in France	27.37	%	25.00	%	25.00	%
Theoretical tax benefit (expense)	(19,018)		5,959		7,129
Increase / decrease in tax benefit arising from :
Tax credits	1,512		1,504		1,452
Permanent differences	833		(31)		(153)
Differences between rates	7,323		(67)		(840)
Tax losses for the period, unrecognised as deferred tax assets	0		(7,037)		(7,832)
Utilisation of previously unrecognised tax losses	5,590		0		0
IFRS adjustments without tax incidence	(129)		(61)		(145)
Non recognition of deffered tax assets related to temporary differences	(24)		331		454
Recognition of deferred tax assets against deferred tax liabilities	430		(453)		(418)
Tax effects related to the renegociation of the convertible debt	1,370		0		0
Other	(102)		(29)		(28)

Income tax benefit (expense) recognised in profit or loss	(2,215)		116		(380)
Effective income tax rate	(3.19)	%	(0.49)	%	1.33	%

Major Events in the Period and Events After the Period	12 Months Ended
Major Events in the Period and Events After the Period	Dec. 31, 2023
Disclosure Of Major Events In The Period And Events After The Period [Abstract]
Major Events in the Period and Events After the Period	MAJOR EVENTS IN THE PERIOD AND EVENTS AFTER THE PERIOD

Loans and Borrowings - Additional Information (Details) € / shares in Units, $ in Thousands			12 Months Ended
	Oct. 16, 2017 EUR (€) euroPerBond oCEANE	Dec. 31, 2014 EUR (€)	Dec. 31, 2023 EUR (€) euroPerBond Facility Size oCEANE € / shares shares	Dec. 31, 2022 EUR (€) euroPerBond oCEANE shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 USD ($) shares	Dec. 23, 2008 EUR (€)
Disclosure of detailed information about borrowings [line items]
Capital increase				€ 0	€ 65,332,000
New shares created (in shares) \| shares			49,834,983	49,834,983		49,834,983
Deferred tax liability (asset)			€ 455,000	€ 510,000	602,000
Deferred tax liabilities			455,000	510,000
Deferred tax assets			0	0
+ Proceeds from new loans and borrowings net of issue costs			89,000	0	15,270,000
Current convertible loans			415,000	415,000
Non-current convertible loans			52,206,000	49,861,000
Other borrowings			17,557,000	24,999,000
Other current loans and borrowings			7,510,000	4,665,000
Other non-current loans and borrowings			10,047,000	€ 20,334,000
Refundable and conditional advances, Net book value			0		3,229,000
TOTAL - Refundable and conditional advances \| $						$ 0
TOTAL			€ 74,913,000
Potential ordinary share transactions [member]
Disclosure of detailed information about borrowings [line items]
Percentage of new shares issued (in percent)			21.20%	21.20%
Maximum dilution of convertible instruments, percentage			17.50%	17.50%
Within 1 Year
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances			€ 0
TOTAL			7,926,000
Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances			0
TOTAL			61,630,000
Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances			0
TOTAL			1,968,000
Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances			0
TOTAL			1,884,000
Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances			0
TOTAL			1,127,000
Later than five years
Disclosure of detailed information about borrowings [line items]
TOTAL - Refundable and conditional advances \| $						$ 0
TOTAL			€ 378,000
Bonds at origin
Disclosure of detailed information about borrowings [line items]
Reference share price \| € / shares			€ 22.77
BPI FRANCE - IT-DIAB
Disclosure of detailed information about borrowings [line items]
Discounted rate		5.19%
Refundable and conditional advances, Total amount allocated			€ 3,229,000	€ 3,229,000	3,229,000
Refundable and conditional advances, Receipts			3,229,000	3,229,000	3,229,000
Refundable and conditional advances, Repayments			(3,229,000)	0	0
Refundable and conditional advances, Effects of discounting			0	0	€ 0
Refundable and conditional advances, Net book value			€ 0	€ 3,229,000
Refundable and conditional advances, Grant date			Dec. 23, 2008	Dec. 23, 2008
BPI FRANCE - IT-DIAB \| Non Repayable
Disclosure of detailed information about borrowings [line items]
Government grants							€ 3,947,000
BPI FRANCE - IT-DIAB \| Conditional Advances [Member]
Disclosure of detailed information about borrowings [line items]
Refundable and conditional advances, Total amount allocated		€ 3,229,000					€ 3,229,000
OCEANE
Disclosure of detailed information about borrowings [line items]
Number of debt instruments issued \| oCEANE	6,081,081
Nominal value per unit (in EUR per bond) \| euroPerBond	29.60
Aggregate nominal amount	€ 180,000,000
Conversion Exchange Premium			550.00%
Notes and debentures issued			€ 52,622,000	€ 50,276,000
OCEANE \| Bonds after OCEANEs buyback
Disclosure of detailed information about borrowings [line items]
Number of debt instruments issued \| oCEANE			1,923,662	1,923,662
Nominal value per unit (in EUR per bond) \| euroPerBond			29.60	29.60
Effective Interest Rate			8.80%	8.80%
Notional amount			€ 56,940,395.2	€ 56,940,395.2
OCEANE \| Bonds at origin
Disclosure of detailed information about borrowings [line items]
Conversion Exchange Premium	30.00%
Interest rate (in percent)	3.50%
Proportion of trading period over nominal value of OCEANEs (in percent)	150.00%
Trading period	20 days
Conditional Advances [Member] \| 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
Convertible Loans [Member]
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			57,356,000
Convertible Loans [Member] \| Within 1 Year
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			415,000
Convertible Loans [Member] \| Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			56,940,000
Convertible Loans [Member] \| Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Convertible Loans [Member] \| Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Convertible Loans [Member] \| Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Convertible Loans [Member] \| Later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Refundable And Conditional Advances [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings			0	3,229,000
Other current loans and borrowings			0	0
Other non-current loans and borrowings				3,229,000
Bank Loans [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings			11,578,000	15,196,000
Other current loans and borrowings			6,339,000	3,619,000
Other non-current loans and borrowings			5,239,000	11,578,000
Other Loans And Borrowings			11,578,000
Bank Loans [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized
Interest rate (in percent)
Facility size \| Facility Size
Installments
Bank loan outstanding			€ 11,583,000	15,221,000
Bank Loans [Member] \| Within 1 Year
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			6,339,000
Bank Loans [Member] \| Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			3,601,000
Bank Loans [Member] \| Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			867,000
Bank Loans [Member] \| Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			771,000
Bank Loans [Member] \| Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Bank Loans [Member] \| Later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Bank Loans [Member] \| B N P Four [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			0.87%			0.87%
Debt maturity date			April 2017
Facility size \| Facility Size			800,000
Installments			60 monthly
Bank loan outstanding			€ 0	54,000
Bank Loans [Member] \| Other [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			0.00%			0.00%
Debt maturity date			-
Facility size \| Facility Size			0
Installments			0
Bank loan outstanding			€ 13,000	17,000
Bank Loans [Member] \| CDN PGE [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			1.36%			1.36%
Debt maturity date			June 2021
Facility size \| Facility Size			900,000
Installments			8 quarterly
Bank loan outstanding			€ 675,000	900,000
Bank Loans [Member] \| CIC PGE [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			0.75%			0.75%
Debt maturity date			June 2021
Facility size \| Facility Size			2,200,000
Installments			8 quarterly
Bank loan outstanding			€ 1,650,000	2,200,000
Bank Loans [Member] \| BNP PGE [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			0.45%			0.45%
Debt maturity date			June 2021
Facility size \| Facility Size			4,900,000
Installments			8 quarterly
Bank loan outstanding			€ 3,675,000	4,900,000
Bank Loans [Member] \| Natixis PGE [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			0.40%			0.40%
Debt maturity date			June 2021
Facility size \| Facility Size			3,000,000
Installments			8 quarterly
Bank loan outstanding			€ 2,250,000	3,000,000
Bank Loans [Member] \| BPI Pret Taux Bonifie [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			2.25%			2.25%
Debt maturity date			November 2021
Facility size \| Facility Size			2,250,000
Installments			20 quarterly
Bank loan outstanding			€ 1,820,000	2,250,000
Bank Loans [Member] \| BPI PGE [Member] \| Research and Laboratory Equipment
Disclosure of detailed information about borrowings [line items]
New debt recognized			€ 0
Interest rate (in percent)			2.25%			2.25%
Debt maturity date			July 2021
Facility size \| Facility Size			2,000,000
Installments			16 quarterly
Bank loan outstanding			€ 1,500,000	1,900,000
Bank Loans [Member] \| Effective Interest Rate \| CDN PGE [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate (in percent)			2.08%			2.08%
Bank Loans [Member] \| Effective Interest Rate \| CIC PGE [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate (in percent)			1.46%			1.46%
Bank Loans [Member] \| Effective Interest Rate \| BNP PGE [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate (in percent)			1.16%			1.16%
Bank Loans [Member] \| Effective Interest Rate \| Natixis PGE [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate (in percent)			1.11%			1.11%
Bank Loans [Member] \| Effective Interest Rate \| BPI PGE [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate (in percent)			1.65%			1.65%
Obligations Under Leases [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings			€ 5,884,000	6,559,000
Other current loans and borrowings			1,076,000	1,032,000
Other non-current loans and borrowings			4,808,000	5,527,000
Accrued Interests [Member]
Disclosure of detailed information about borrowings [line items]
Other borrowings			7,000	14,000
Other current loans and borrowings			7,000	14,000
Other non-current loans and borrowings			0	€ 0
Other Loans And Borrowings			7,000
Accrued Interests [Member] \| Within 1 Year
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			7,000
Accrued Interests [Member] \| Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Accrued Interests [Member] \| Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Accrued Interests [Member] \| Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Accrued Interests [Member] \| Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Accrued Interests [Member] \| Later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			0
Other Financial Loans And Borrowings [Member]
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			74,913,000
Other Financial Loans And Borrowings [Member] \| Within 1 Year
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			7,926,000
Other Financial Loans And Borrowings [Member] \| Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			61,630,000
Other Financial Loans And Borrowings [Member] \| Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,968,000
Other Financial Loans And Borrowings [Member] \| Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,884,000
Other Financial Loans And Borrowings [Member] \| Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,127,000
Other Financial Loans And Borrowings [Member] \| Later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			378,000
Lease
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			5,884,000
Lease \| Within 1 Year
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,076,000
Lease \| Later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,088,000
Lease \| Later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,101,000
Lease \| Later than three years and not later than four years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,114,000
Lease \| Later than four years and not later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			1,127,000
Lease \| Later than five years
Disclosure of detailed information about borrowings [line items]
Other Loans And Borrowings			€ 378,000

Employee Benefits - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€) bond	Dec. 31, 2022 EUR (€)	Jan. 01, 2020 EUR (€)
Disclosure of information about defined benefit plans [abstract]
Defined contribution plan expense		€ 948	€ 876
Current provisions		40	61
Provisions for employee benefits		€ 978	€ 782
Population Description		Permanent staff
Retirement age \| bond		65
Terms of retirement		Initiated by the employee
Life expectancy		On the basis of the INSEE table (1)
Probability of continued presence in the company at retirement age		On the basis of the DARES table
Disclosure of defined benefit plans [line items]
Discount rate (as a percent)		3.59%	3.25%
Increase in net defined benefit liability (asset) resulting from current service cost		€ 137	€ 169
Increase (decrease) in net defined benefit liability (asset) resulting from interest expense (income)		25	8
Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income		0	0
Increase (decrease) in net defined benefit liability (asset) resulting from past service cost		51	(258)
Increase (decrease) in net defined benefit liability (asset) resulting from service paid to employees		(18)	0
Net defined benefit liability (asset)		€ 978	€ 782	€ 864
Changes in assumptions/discount rate (as a percent)		0.25%
Impact/present value of the undertaking		€ (28)
Percentage of reasonably possible decrease in actuarial assumption		0.25%
Impact/present value of the undertaking		€ 29
Within 1 Year
Disclosure of defined benefit plans [line items]
Salary growth rate (as a percent)		3.00%	3.00%
Beyond
Disclosure of defined benefit plans [line items]
Salary growth rate (as a percent)		3.00%	3.00%
2024
Disclosure of defined benefit plans [line items]
Benefits paid or payable	€ 0
2025
Disclosure of defined benefit plans [line items]
Benefits paid or payable	36
2026
Disclosure of defined benefit plans [line items]
Benefits paid or payable	0
2027
Disclosure of defined benefit plans [line items]
Benefits paid or payable	68
Years 2028 and thereafter
Disclosure of defined benefit plans [line items]
Benefits paid or payable	3,035
2028
Disclosure of defined benefit plans [line items]
Benefits paid or payable	€ 62

Trade and Other Receivables - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and other receivables [abstract]
Value added tax receivables	€ 1,476	€ 1,288
Other receivables	€ 498	€ 126

Other Assets	12 Months Ended
Other Assets	Dec. 31, 2023
Miscellaneous assets [abstract]
Other Assets	OTHER ASSETSOther current assets of €2,615 at December 31, 2023 and €1,998 at December 31, 2022, consisting of prepaid expenses related to current operating expenses.

Fair Value of Financial Instruments - Summary of Financial Assets And Liabilities Carrying Values By Category And Fair Values (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	€ 4,125	€ 9,464
Level 1 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	78,319	141,085
Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	19,300	3,951
Fair value of financial liabilities	80,858	84,416
Level 3 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	2,819	3,617
Fair value of financial liabilities	0	3,229
Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	100,439	148,653
Carrying value of Assets at fair value through profit and loss	78,790	141,568
Financial liabilities	81,541	85,214
Aggregate nominal amount	81,541	85,214
Carrying value debt at amortized cost	19,300	3,951
Financial assets measured at fair value through other comprehensive income	2,348	3,133
Equity investments [member] \| Level 3 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	2,348	3,133
Equity investments [member] \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	2,348	3,133
Financial assets measured at fair value through other comprehensive income	2,348	3,133
Loans to consumers [member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	472	428
Loans to consumers [member] \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	472	428
Deposits And Guarantees [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Carrying value debt at amortized cost	303	335
Trade receivables [member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	18,526	3,188
Fair value of financial liabilities	10,448	8,613
Trade receivables [member] \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	18,526	3,188
Financial liabilities	10,448	8,613
Aggregate nominal amount	10,448	8,613
Carrying value debt at amortized cost	18,526	3,188
Cash And Cash Equivalents [Member] \| Level 1 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	77,789	136,001
Cash And Cash Equivalents [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	77,789	136,001
Carrying value of Assets at fair value through profit and loss	77,789	136,001
Conditional Advances [Member] \| Level 3 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities		3,229
Conditional Advances [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities		3,229
Aggregate nominal amount		3,229
Carrying value debt at amortized cost	472	428
Convertible Loans [Member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities	51,939	52,708
Convertible Loans [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities	52,622	50,276
Aggregate nominal amount	52,622	50,276
Bank Loans [Member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities	11,578	15,196
Bank Loans [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities	11,578	15,196
Aggregate nominal amount	11,578	15,196
Obligations Under Finance Leases [Member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities	5,884	6,559
Obligations Under Finance Leases [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities	5,884	6,559
Aggregate nominal amount	5,884	6,559
Accrued Interests [Member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities	7	14
Accrued Interests [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities	7	14
Aggregate nominal amount	7	14
Other Payables [Member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial liabilities	914	1,325
Other Payables [Member] \| Gross
Disclosure of detailed information about borrowings [line items]
Financial liabilities	914	1,325
Aggregate nominal amount	914	1,325
Other investments \| Level 3 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	471	483
Other investments \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	471	483
Carrying value of Assets at fair value through profit and loss	471	483
Financial investments \| Level 1 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	4,550
Financial investments \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets		4,550
Carrying value of Assets at fair value through profit and loss		4,550
Contingent liability for guarantees [member] \| Level 2 \| Fair value
Disclosure of detailed information about borrowings [line items]
Fair value of financial assets	303	335
Contingent liability for guarantees [member] \| Gross
Disclosure of detailed information about borrowings [line items]
Current and non current financial assets	€ 303	€ 335

Intangible Assets - Schedule of Variations in Intangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 29, 2022
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	€ 43,957	€ 174
Increase	2,010	43,852
Decrease	29	(69)
Translation adjustments	2,746	0
Reclassification	18	0
Intangible assets other than goodwill Period End	€ 48,761	43,957
Discount rate applied to cash flow projections	12.40%
Expected Success Rate	12.90%
Versantis
Disclosure of detailed information about intangible assets [line items]
Total purchase price			€ 46,601
Computer software [member] \| Top of Range
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of software and license agreements	8 years
Acquisition of Versantis
Disclosure of detailed information about intangible assets [line items]
Increase (decrease) in intangible assets and goodwill	€ 43,900
Total purchase price			€ 46,600
Discount rate applied to cash flow projections	12.00%
Expected Success Rate	15.10%
Growth rate used to extrapolate cash flow projections	2.00%
PercentageAmountByWhichValueAssignedToKeyAssumptionMustChangeInOrderForUnitsRecoverableAmountToBeEqualToCarryingAmount	5.40%
Percentage Amount By Which Value Assigned To Expected rate of success of program in order For Recoverable Amount To Be Equal To Carrying Amount	6.20%
Patents
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives of software and license agreements	20 years
Gross
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	€ 44,897	1,364
Increase	2,074	43,931
Decrease	(45)	(398)
Translation adjustments	2,746	0
Reclassification	18	0
Intangible assets other than goodwill Period End	49,690	44,897
Gross \| Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	977	1,294
Increase	24	81
Decrease	(45)	(398)
Translation adjustments	0	0
Reclassification	0	0
Intangible assets other than goodwill Period End	955	977
Gross \| Patents
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	351	70
Increase	0	281
Decrease	0	0
Translation adjustments	0	0
Reclassification	18	0
Intangible assets other than goodwill Period End	369	351
Gross \| Other Intangibles
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	43,569	0
Increase	2,050	43,569
Decrease	0	0
Translation adjustments	2,746	0
Reclassification	0	0
Intangible assets other than goodwill Period End	48,366	43,569
Accumulated Depreciation and Impairment
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	(940)	(1,190)
Increase	(63)	(79)
Decrease	75	329
Translation adjustments	0	0
Reclassification	0	0
Intangible assets other than goodwill Period End	(928)	(940)
Accumulated Depreciation and Impairment \| Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	(940)	(1,190)
Increase	(63)	(79)
Decrease	75	329
Translation adjustments	0	0
Reclassification	0	0
Intangible assets other than goodwill Period End	(928)	(940)
Accumulated Depreciation and Impairment \| Patents
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	0	0
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Intangible assets other than goodwill Period End	0	0
Accumulated Depreciation and Impairment \| Other Intangibles
Disclosure of detailed information about intangible assets [line items]
Intangible assets other than goodwill Period Start	0	0
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Intangible assets other than goodwill Period End	€ 0	€ 0

Trade and Other Payables - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Trade And Other Payables [Abstract]
Trade payables	€ 10,448	€ 8,613
Accrued expenses	4,765	3,924
Value added tax payables	3,139	200
Trade payables	10,448	8,613
Payables on social security and taxes other than income tax	4,188	4,838
Excise tax payables	110	316
Other payables	914	1,325
Trade and other payables	18,799	15,293
Current payables on social security and taxes other than income tax	4,188	4,838
Current value added tax payables	3,139	200
Current excise tax payables	110	316
Other current payables	914	877
Current trade and other payables	18,799	14,845
Other non-current payables	0	448
Non-current trade and other payables	€ 0	€ 448

Employee Benefits - Summary of Changes in Present Value of Defined Benefit Obligation (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of information about defined benefit plans [abstract]
Defined benefit obligation, beginning balance	€ 782
Increase in net defined benefit liability (asset) resulting from current service cost	137	€ 169
Increase (decrease) in net defined benefit liability (asset) resulting from interest expense (income)	25	8
Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income	0	0
Increase (decrease) in net defined benefit liability (asset) resulting from past service cost	51	(258)
Increase (decrease) in net defined benefit liability (asset) resulting from service paid to employees	(18)	0
Defined benefit obligation, ending balance	€ 978	€ 782

Other Financial Assets

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Financial Assets [Abstract]

Other Financial Assets

OTHER FINANCIAL ASSETS

Accounting policies

A financial asset is initially recognized as measured at amortized cost, at fair value through other comprehensive income - debt instrument, at fair value through other comprehensive income - equity instrument, or at fair value through profit or loss.

Financial assets will not be reclassified after initial recognition, unless we change our economic model of financial asset management. If so, all affected financial assets would be reclassified as of the first day of the first reporting period following the change in economic model. No such reclasses have taken place in any period presented herein.

A financial asset is measured at amortized cost if both of the following conditions are met, and if it is not measure at fair value through profit or loss:

•Its ownership is part of an economic model of which the objective is to hold assets in order to receive its contractual cash flows;

•Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount.

A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met, and if it is not measure at fair value through profit or loss:

•Its ownership is part of an economic model of which the goal is met through both the receipt of contractual cash flows and the sale of financial assets;

•Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount.

At the time of initial recognition of an equity instrument that is not held for trading, we may irrevocably choose to present future changes in fair value in other comprehensive income. This choice is made for each investment.

All financial assets that are not categorized as measured at amortized cost or at fair value through other comprehensive income as previously described are measured at fair value through profit or loss.

Financial detail

Other financial assets consisted of the following:


Financial assets - Total	As of
(in € thousands)	2022/12/31	2023/12/31
Non consolidated equity investments	3,133	2,348
Other investments	483	471
Financial investments	4,550	—
Loans	428	472

Deposits and guarantees	335	303
Liquidity contract	534	531
TOTAL	9,464	4,125
Of which : Current	4,550	—
Of which : Non-current	4,914	4,125


Financial assets - Variations	As of	Increase	Decrease	As of
(in € thousands)	31/12/2022			31/12/2023
Non consolidated equity investments	3,133	—	(785)	2,348
Other investments	483	0	(12)	471
Financial investments	4,550	—	(4,550)	—
Loans	428	44	—	472

Deposits and guarantees	335	35	(68)	303
Liquidity contract	534	0	(3)	531
TOTAL	9,464	80	(5,419)	4,125

The total amount of financial assets of the Company was €9,464 at December 31, 2022, as is €4,125 at December 31, 2023. This change is mainly due to the short term financial asset with a term of 180 days as well as a recorded impairment related to the Company's shares in Genoscience Pharma.

Non-consolidated equity investments

As of December 31, 2023, the value of "Non-consolidated equity investments" totaled €2,348, which relates solely to our equity purchase in Genoscience Pharma.

The gross value of the investment (and the initial transaction amount from 2021) totals €3,133.

The net value of the investment (including an impairment of €785) totals 2,348.

Since the transaction occurred, no shares have been sold.

We did not complete the equity purchase in Genoscience Pharma for trading purposes. Therefore, pursuant to IFRS 9, we elected to classify the equity in Genoscience Pharma we acquired in December 2021 as equity instruments recognized at fair value through other comprehensive income (OCI). At the time of initial recognition in 2021, this investment in equity instruments has been measured at fair value, inclusive of acquisition costs related to the purchase. The amount recognized on the balance sheet at December 31, 2021 corresponds to the subscription price agreed upon between the parties as representative of the value of Genoscience Pharma a few days before closing of the period. For future closings, changes in fair value on these equity instruments are recognized as OCI. This OCI may not be reused as profit or loss, including in the case of a sale. If applicable, only dividends related to the investment in equity instruments will be recognized as profit provided that all conditions are met.

For 2023, and in accordance with IFRS 13, we updated our estimated of the fair value of our equity stake in Genoscience Pharma, which was based on a valuation methodology including a royalty based income approach using discounted cash flow techniques for the company's main scientific research programs. The aforementioned income method utilizes management’s estimates of future operating results, cash flows discounted using a weighted-average cost of capital that reflects market participant assumptions, and the expected success rate of each program. Based on our analysis performed as of December 31, 2023, an impairment loss of €785 was recognized in OCI.

The period over which management has projected its cash flows spans through 2039. The growth rate used to extrapolate cash flow projections is 1%. Furthermore, we have performed the following sensitivity analyses in order to determine the change in value of the asset by modifying certain key assumptions.

Values assigned to each key assumption

Discount rate: 12.4%

The amount by which the asset would decrease if the weighted average cost of capital increased by 1%: €159

Overall expected success rate: 12.9%

The amount by which the asset would decrease if the estimated overall success rate decreased by 1%: €212

Indicators of impairment considered by the Group as part of the implementation of the impairment test above are as follows:

•Failure of or unfavorable data from our clinical trials

•Competition from other clinical trial programs covering the same indications as our drug candidates

•Availability of necessary financing

Other investments

As of December 31, 2023, the value of "Other investments" totaled €471. The balance relates solely to our investment in CAPTECH SANTE.

On May 24, 2022, GENFIT undertook to subscribe for 50 units of the CAPTECH SANTE Professional Equity Fund (Fonds Professionnel de Capital Investissement – FPCI) in the amount of €500. On June 25, 2022, the management company made an initial call for funds from GENFIT in an amount equal to 35% of the subscription amount, i.e. €175, which GENFIT paid. The remaining subscription amount of €325 must be paid upon successive calls from the fund management company.

GENFIT’s investment in CAPTECH SANTE constitutes a debt instrument that does not meet the SPPI (solely payments of principal and interest) criterion test. It is therefore classified as a financial asset recognized at fair value through profit or loss. This investment is also consistent with a regular way purchase of a financial asset. GENFIT has opted to use the trade date as date of initial recognition. An amount of €500 was therefore recognized in the Group’s balance sheet on May 24, 2022.

As of December 31, 2023, a loss of €12 was recognized based on the net asset value of the units as of said date.

Financial investments

As of December 31, 2023, and 2022, the value of "Financial investments" totaled €0 and €4,550 respectively. This change related solely to a short term investment whose term was 180 days, liquidated in 2023.

Liquidity contract

Consistent with customary practice in the French securities market, we entered into a liquidity agreement (contrat de liquidité) with Crédit Industriel et Commercial S.A. ("CIC") in August 2013. The liquidity agreement was entered into in accordance with applicable laws and regulations in France. The liquidity agreement authorizes CIC to carry out market purchases and sales of our shares on Euronext Paris.

As of December 31, 2023, the liquidity account had a cash balance of €531, and as of December 31, 2022 a cash balance of €534.

CIC holds the following number of GENFIT shares on behalf of the Company, recorded as a deduction in equity:

Financial assets - Current

As of

2022/12/31

2023/12/31

Number of shares (recorded as a deduction from equity)

138,691

147,812

Summary of Other Financial Assets

Financial detail

Other financial assets consisted of the following:


Financial assets - Total	As of
(in € thousands)	2022/12/31	2023/12/31
Non consolidated equity investments	3,133	2,348
Other investments	483	471
Financial investments	4,550	—
Loans	428	472

Deposits and guarantees	335	303
Liquidity contract	534	531
TOTAL	9,464	4,125
Of which : Current	4,550	—
Of which : Non-current	4,914	4,125


Financial assets - Variations	As of	Increase	Decrease	As of
(in € thousands)	31/12/2022			31/12/2023
Non consolidated equity investments	3,133	—	(785)	2,348
Other investments	483	0	(12)	471
Financial investments	4,550	—	(4,550)	—
Loans	428	44	—	472

Deposits and guarantees	335	35	(68)	303
Liquidity contract	534	0	(3)	531
TOTAL	9,464	80	(5,419)	4,125

Trade and other receivables

TRADE AND OTHER RECEIVABLES

Accounting policies

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. Impairment losses on trade accounts receivable are estimated using the expected loss method, in order to take account of the risk of payment default throughout the lifetime of the receivables.

Receivables are classified as current assets, except for those with a maturity exceeding 12 months after the reporting date, according to IFRS 9 standards ("expected credit loss").

OTHER FINANCIAL ASSETS

Accounting policies

A financial asset is measured at amortized cost if both of the following conditions are met, and if it is not measure at fair value through profit or loss:

•Its ownership is part of an economic model of which the objective is to hold assets in order to receive its contractual cash flows;

•Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount.

A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met, and if it is not measure at fair value through profit or loss:

•Its ownership is part of an economic model of which the goal is met through both the receipt of contractual cash flows and the sale of financial assets;

•Its contractual conditions provide for cash flows at defined dates, which correspond only to principal payments and interest on the remaining principal amount.

Loans and Borrowings - Summary of Bonds (Details)		12 Months Ended
Loans and Borrowings - Summary of Bonds (Details)	Oct. 16, 2017 euroPerBond oCEANE	Dec. 31, 2023 EUR (€) euroPerBond oCEANE € / shares	Dec. 31, 2022 EUR (€) euroPerBond oCEANE
OCEANE
Disclosure of detailed information about borrowings [line items]
Number of debt instruments issued \| oCEANE	6,081,081
Nominal value per unit (in EUR per bond) \| euroPerBond	29.60
Conversion Exchange Premium		550.00%
Bonds at origin
Disclosure of detailed information about borrowings [line items]
Reference share price \| € / shares		€ 22.77
Bonds at origin \| OCEANE
Disclosure of detailed information about borrowings [line items]
Conversion Exchange Premium	30.00%
Annual nominal interest rate (in percent)	3.50%
Trading period	20 days
Proportion of trading period over nominal value of OCEANEs (in percent)	150.00%
Bonds after OCEANEs buyback \| OCEANE
Disclosure of detailed information about borrowings [line items]
Number of debt instruments issued \| oCEANE		1,923,662	1,923,662
Notional amount \| €		€ 56,940,395.2	€ 56,940,395.2
Nominal value per unit (in EUR per bond) \| euroPerBond		29.60	29.60
Effective Interest Rate		8.80%	8.80%

Consolidated Statements of Financial Position - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	€ 77,789	€ 136,001
Current trade and others receivables	32,707	15,906
Other current financial assets	0	4,550
Other current assets	2,615	1,998
Inventories	4	4
Total - Current assets	113,115	158,459
Non-current assets
Intangible assets	48,761	43,957
Property, plant and equipment	7,872	8,210
Non-current trade and other receivables	0	0
Other non-current financial assets	4,125	4,914
Deferred tax assets	0	0
Total - Non-current assets	60,758	57,081
Total - Assets	173,872	215,540
Current liabilities
Current convertible loans	415	415
Other current loans and borrowings	7,510	4,665
Current trade and other payables	18,799	14,845
Current deferred income and revenue	11,692	14,479
Current provisions	40	61
Other current tax liabilities	23	4,906
Total - Current liabilities	38,480	39,370
Non-current liabilities
Non-current convertible loans	52,206	49,861
Other non-current loans and borrowings	10,047	20,334
Non-current trade and other payables	0	448
Non-current deferred income and revenue	3,755	9,706
Non-current employee benefits	978	782
Deferred tax liabilities	455	510
Total - Non-current liabilities	67,441	81,641
Shareholders' equity
Share capital	12,459	12,459
Share premium	445,261	444,683
Retained earnings (accumulated deficit)	(361,870)	(337,550)
Currency translation adjustment	996	(1,344)
Net profit (loss)	(28,894)	(23,719)
Total - Shareholders' equity	67,951	94,528
Total - Shareholders' equity & liabilities	173,872	215,540
Interest income	1,709	137
Net foreign exchange gain	452	7,470
Finance income from renegotiation of debt	0	0
Other finance income	1,519	605
Financial income	3,680	8,212
Interest expense	(4,553)	(4,341)
Interest Expenses For Leases	(71)	(69)
Net foreign exchange loss	(966)	(340)
Other finance cost	(23)	(8)
Finance costs	(5,614)	(4,758)
Finance income (cost)	€ (1,934)	€ 3,453

Property, Plant and Equipment - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	€ 7,872	€ 8,210	€ 9,015
Impairment loss	9	97
Increase	(798)	(939)
Disposals, property, plant and equipment	455	144
Translation adjustments	8	(3)
Reclassification	(3)	(7)
Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(9)	(552)	(699)
Increase	0	0
Disposals, property, plant and equipment	543	147
Translation adjustments	0	0
Reclassification	0	0
Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	20,204	20,794	20,017
Increase	839	1,014
Disposals, property, plant and equipment	(1,426)	(230)
Translation adjustments	0	0
Reclassification	(3)	(7)
Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(12,323)	(12,032)	(10,304)
Increase	(1,637)	(1,953)
Disposals, property, plant and equipment	1,338	227
Translation adjustments	8	(3)
Reclassification	0	0
Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Right of use asset	741	1,502
Depreciation	(741)	(1,475)
Impairment loss	9	59
Scientific Equipment [Member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(9)	(59)	(87)
Increase	0	0
Disposals, property, plant and equipment	51	28
Translation adjustments	0	0
Reclassification	0	0
Scientific Equipment [Member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	5,295	6,467	6,320
Increase	207	228
Disposals, property, plant and equipment	(1,378)	(82)
Translation adjustments	0	0
Reclassification	0	0
Scientific Equipment [Member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(4,471)	(5,481)	(4,868)
Increase	(296)	(697)
Disposals, property, plant and equipment	1,307	79
Translation adjustments	(1)	4
Reclassification	0	0
Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss		24
Fixtures and fittings [member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	(24)	(93)
Increase	0	0
Disposals, property, plant and equipment	24	69
Translation adjustments	0	0
Reclassification	0	0
Fixtures and fittings [member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,563	1,537	1,474
Increase	33	61
Disposals, property, plant and equipment	(7)	0
Translation adjustments	0	0
Reclassification	0	2
Fixtures and fittings [member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(1,083)	(985)	(888)
Increase	(100)	(95)
Disposals, property, plant and equipment	2	0
Translation adjustments	0	(2)
Reclassification	0	0
Furniture and IT Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss		13
Building on Non-Freehold Land
Disclosure of detailed information about property, plant and equipment [line items]
Right of use asset	11,067	10,665
Depreciation	(4,940)	(3,839)
Buildings On Non Freehold Land [Member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	(455)	(503)
Increase	0	0
Disposals, property, plant and equipment	455	48
Translation adjustments	0	0
Reclassification	0	0
Buildings On Non Freehold Land [Member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	11,367	10,921	10,311
Increase	427	610
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	19	0
Buildings On Non Freehold Land [Member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(5,064)	(3,934)	(2,900)
Increase	(1,127)	(1,033)
Disposals, property, plant and equipment	0	0
Translation adjustments	(3)	0
Reclassification	0	0
Vehicles [member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	0	0
Increase	0	0
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	0	0
Vehicles [member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	91	91	91
Increase	0	0
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	0	0
Vehicles [member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(55)	(43)	(31)
Increase	(12)	(12)
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	0	0
Computer equipment [member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	(10)	(12)
Increase	0	0
Disposals, property, plant and equipment	10	2
Translation adjustments	0	0
Reclassification	0	0
Computer equipment [member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,613	1,500	1,542
Increase	150	98
Disposals, property, plant and equipment	(32)	(149)
Translation adjustments	0	0
Reclassification	(4)	8
Computer equipment [member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(1,421)	(1,365)	(1,403)
Increase	(91)	(105)
Disposals, property, plant and equipment	24	148
Translation adjustments	11	(5)
Reclassification	0	0
Furniture [Member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	(3)	(3)
Increase	0	0
Disposals, property, plant and equipment	3	0
Translation adjustments	0	0
Reclassification	0	0
Furniture [Member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	274	279	279
Increase	5	0
Disposals, property, plant and equipment	(9)	0
Translation adjustments	0	0
Reclassification	0	0
Furniture [Member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(228)	(223)	(213)
Increase	(11)	(10)
Disposals, property, plant and equipment	5	0
Translation adjustments	1	0
Reclassification	0	0
Construction in progress [member] \| Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	0	0
Increase	0	0
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	0	0
Construction in progress [member] \| Gross
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	0	0
Increase	16	16
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	(16)	(16)
Construction in progress [member] \| Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	0	€ 0
Increase	0	0
Disposals, property, plant and equipment	0	0
Translation adjustments	0	0
Reclassification	0	0
Assets under finance lease contracts \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	27
Owned equipment \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss	9	€ 31
Leased equipment \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss	€ 0

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalent [line items]
Short-term deposits, classified as cash equivalents	€ 67,530	€ 119,090
Cash	10,258	16,910
Total cash and cash equivalents	77,789	136,001	€ 258,756	€ 171,029
Term Accounts [Member]
Cash and cash equivalent [line items]
Short-term deposits, classified as cash equivalents	€ 67,530	€ 119,090

Other Financial Assets - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial assets [line items]
Total amount of financial assets	€ 4,125	€ 9,464
Liquidity account, cash balance	€ 531	€ 534
Number of shares recorded as deduction from equity (in shares)	147,812,000	138,691,000
Discount rate applied to cash flow projections	12.40%
Amount by which the asset would decrease if the weighted average cost of capital	€ 159
Expected Success Rate	12.90%
Amount by which the asset would decrease if the estimated overall success rate decreased	€ 212
Genoscience Pharma
Disclosure of financial assets [line items]
Subscription of new ordinary shares		€ 2,348	€ 3,133

Financial Income and Expenses

12 Months Ended

Dec. 31, 2023

Financial Income And Expenses [Abstract]

Financial Income and Expenses

FINANCIAL INCOME AND EXPENSES


Financial income and expenses	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31

Financial income
Interest income	274	137	1,709
Foreign exchange gain	8,876	7,470	452
Financial income from renegotiating the convertible bond debt OCEANE	35,578	0	0
Other financial income	52	605	1,519
TOTAL - Financial income	44,780	8,212	3,680
Financial expenses
Interest expenses	(4,846)	(4,341)	(4,553)
Interest expenses for leases	(109)	(69)	(71)
Foreign exchange losses	(2,163)	(340)	(966)
Other financial expenses	(5)	(8)	(23)
TOTAL - Financial expenses	(7,122)	(4,758)	(5,614)
FINANCIAL GAIN (LOSS)	37,658	3,453	(1,934)

Financial income in 2021 included notably the one-time buyback bonus of €35.6 million issued from the renegotiation of the OCEANEs completed in said year.

Business combinations

9 Months Ended

12 Months Ended

Sep. 29, 2022

Dec. 31, 2022

Business Combinations [Abstract]

Disclosure of detailed information about business combination [text block]

The consolidated value of net assets acquired of Versantis AG and Versantis, Inc. on September 29, 2022 is as follows :


Total acquired assets and liabilities, in thousands of euros			29/9/2022
Cash and cash equivalents			5,076
Current trade and others receivables			209
Other current assets			78
Intangible assets			45,323
Property, plant and equipment			326
Other non-current financial assets			14
Total acquired assets			51,026

Current trade and other payables			3,202
Current provisions			858
Other current tax liabilities			63
Lease liabilities			302
Total acquired liabilities			4,425

Total purchase price			46,601

ACQUISITIONS

Acquisition of the Clinical-stage Biopharmaceutical Company Versantis

On September 19, 2022, the Company announced it had signed an exclusive agreement with Versantis AG ("Versantis") to acquire all the shares and voting rights of Versantis, a private Swiss-based clinical stage biotechnology company focused on addressing the growing unmet medical needs in liver diseases. This acquisition aims at:

1.Consolidating GENFIT’s position as a leader in acute-on-chronic liver failure (ACLF)

2.Significantly expanding GENFIT’s pipeline with VS-01-ACLF, a Phase 2 ready program based on first-in-class scavenging liposomes technology, VS-01-HAC, a pediatric program focused on Urea Cycle Disorder (UCD), and VS-02-HE, an early-stage program focused on hepatic encephalopathy (HE), and

3.Combining Versantis’ expertise with GENFIT’s know-how in conducting complex development programs in liver diseases, to strengthen and accelerate research and development

The deal closed effective September 29, 2022.

Total purchase price and contingent milestone payments

This transaction includes:

•an initial payment of 40 million CHF (€41.9 million) due and paid at the date of closing,

•a net cash adjustment payment of 2.8 million CHF (€2.9 million) at the end of the year in accordance with the terms of the acquisition agreement

•additional milestone payments of up to 65 million CHF contingent on the following outcomes:

◦positive Phase 2 results related to VS-01-ACLF,

◦regulatory approval of VS-01-ACLF, and

◦positive Phase 2 results related to VS-02.

Acquisition costs totaled €1.8 million.

The impact of this acquisition as reflected within the line item "Acquisition net of cash acquired" in the consolidated statement of cash flows is a net cash outflow of €41.5 million.

Accounting treatment - IFRS 3

Paragraph B7B sets out an optional test (the concentration test) to permit a simplified assessment of whether an acquired set of activities and assets is not a business. An entity may elect to apply, or not apply, the test. The concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets.

GENFIT chose to use the available option stated as per IFRS 3 and perform a concentration test to determine if the transaction qualifies as a business combination or asset acquisition. In accordance with the concentration test methodology as defined in paragraph B7B of IFRS 3, the acquisition of Versantis by GENFIT was determined to be an asset acquisition based on the VS-01-ACLF program because its fair value represents more than 90% of the value of all assets acquired. Therefore, the acquisition costs of €1.8 million were included and capitalized in the total cost of the operation to determine the net book value of the VS-01-ACLF program on the date of the acquisition. Conditional milestone payments were not included in this analysis.

Accounting treatment - IAS 21

Consistent with paragraph 8 of IAS 21, Versantis AG is considered as a foreign operation as its activities are conducted primarily in Swiss Francs. The Swiss Franc is thus also considered to be Versantis AG's functional currency. Versantis AG's subsidiary, Versantis Inc., is considered as a foreign operation as its activities are conducted primarily in US Dollars. The US Dollar is thus considered to be Versantis Inc.'s functional currency. For further information on converting and presenting Versantis' activity in euros, refer to N ote 4.3.2 - "Foreign currency - Translation of foreign subsidiary financial statements ".

Note that on the Consolidated Statements of Other Comprehensive Income and Loss, for the period ending December 31, 2022, on line item "Other comprehensive income (loss) that are or may be reclassified to profit or loss," substantially all of the loss amount of €1.4 million is due to the application of IAS 21 for Versantis.

Supplementary information

The consolidated value of net assets acquired of Versantis AG and Versantis, Inc. on September 29, 2022 is as follows :


Total acquired assets and liabilities, in thousands of euros			29/9/2022
Cash and cash equivalents			5,076
Current trade and others receivables			209
Other current assets			78
Intangible assets			45,323
Property, plant and equipment			326
Other non-current financial assets			14
Total acquired assets			51,026

Current trade and other payables			3,202
Current provisions			858
Other current tax liabilities			63
Lease liabilities			302
Total acquired liabilities			4,425

Total purchase price			46,601

The exchange rate used above to convert the assets and liabilities of Versantis AG into euros was 1.04843 (1 CHF = 1.04843) on September 29, 2022. The exchange rate used above to convert the assets and liabilities of Versantis, Inc. into euros was 0.9706 (1 USD = 0.9706) on September 29, 2022.

The net book value of assets and liabilities as of December 31, 2022 is as follows, per the application of IAS 21:


Net assets, in thousands of euros			31/12/2022
Cash and cash equivalents			2,168
Current trade and others receivables			17
Other current assets			197
Intangible assets			43,850
Property, plant and equipment			295
Other non-current financial assets			13
Total assets			46,540

Current trade and other payables			1,614
Current provisions			672
Other current tax liabilities			33
Lease liabilities			282
Total liabilities			2,601

Net assets			43,939

The exchange rate used above to convert the assets and liabilities of Versantis AG into euros was 1.01554 (1 CHF = 1.01554) on December 31, 2022. The exchange rate used above to convert the assets and liabilities of Versantis, Inc. into euros was 0.93756 (1 USD = 0.93756) on December 31, 2022.

Research and development expenses for the period between September 29, 2022 and December 31, 2022 attributable to Versantis total €1,187 thousand. If the acquisition had taken place on January 1, 2022, research and development expenses would have been €5,833 thousand.

General and administrative expenses for the period between September 29, 2022 and December 31, 2022 attributable to Versantis total €228 thousand.

For further information, refer to Note 14 - "Goodwill and Intangible Assets"

Loans and Borrowings

12 Months Ended

Dec. 31, 2023

Borrowing costs [abstract]

Loans and Borrowings

LOANS AND BORROWINGS

Accounting policies

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 (OCEANEs—see Note 20.1 - "Breakdown of convertible loan") are recognized as follows: in accordance with IAS 32, Financial Instruments—Presentation, if a financial instrument has different components and the characteristics indicate that some should 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 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 pro rata portion of the transaction expenses attributed to the 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.

Breakdown of convertible loan

Introduction

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 and the debt was renegotiated in 2020 and 2021.

As of December 31, 2022 and 2023, key terms and conditions and balances are as follows:

Updated balances


			As of 31/12/2022 :
			Number of bonds						1,923,662
			Nominal amount of the loan						56,940,395.20€
			Nominal unit value of the bonds						29.60€
			Effective interest rate						8.8%
			As of 31/12/2023 :
			Number of bonds						1,923,662
			Nominal amount of the loan						56,940,395.20€
			Nominal unit value of the bonds						29.60€
			Effective interest rate						8.8%

Nominal annual interest rate

The nominal annual interest rate is 3.5%, payable semi-annually in arrears.

Repayment Terms

Final reimbursement is scheduled for October 16, 2025.

Redemption prior to maturity at the option of the Company is possible if the arithmetic volume-weighted average price of GENFIT's listed share price and the then prevailing conversion ratio over a 20 day trading period exceeds 1.5 times the nominal value of the OCEANEs.

Conversion ratio and terms

The conversion ratio is 5.5 ordinary shares per bond.

There are no specific terms that need to be met for a holder of OCEANEs to convert their debt into GENFIT shares.

There were no conversions in 2022 or 2023.

Conversion / exchange premium

The conversion / exchange premium is 30% relative to GENFIT's reference share price (22.77€).

Maximum Dilution

The potential issuance of new shares upon conversion requests of the outstanding OCEANEs would represent 21.2% of the share capital of the Company at December 31, 2022 (representing a 17.5% dilution if all OCEANEs were converted).

The potential issuance of new shares upon conversion requests of the outstanding OCEANEs would represent 21.2% of the share capital of the Company at December 31, 2023 (representing a 17.5% dilution if all OCEANEs were converted).

Deferred taxes

Deferred tax assets and deferred tax liabilities recognized on the balance sheet as of December 31, 2021 and 2022 related to the OCEANEs are disclosed in Note 11.2 - "Income Ta x - Deferred tax assets and liabilities".

Current and non current balances

Convertible loans - Total

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

50,276

52,622

TOTAL

50,276

52,622

Convertible loans - Current

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

415

TOTAL

415

Convertible loans - Non current

As of

(in € thousands)

2022/12/31

2023/12/31

Convertible loans

49,861

52,206

TOTAL

49,861

52,206

Breakdown of other loans and borrowings

Other loans and borrowings consisted of the following:


Other loans and borrowings - Total	As of
(in € thousands)		2022/12/31	2023/12/31
Refundable and conditional advances		3,229	—
Bank loans		15,196	11,578


Obligations under leases		6,559	5,884
Accrued interests		14	7

Bank overdrafts		—	89
TOTAL		24,999	17,557


Other loans and borrowings - Current	As of
(in € thousands)		2022/12/31	2023/12/31
Refundable and conditional advances		—	—
Bank loans		3,619	6,339


Obligations under leases		1,032	1,076
Accrued interests		14	7

Bank overdrafts		—	89
TOTAL		4,665	7,510


Other loans and borrowings - Non current	As of
(in € thousands)	2022/12/31	2023/12/31
Refundable and conditional advances	3,229	—
Bank loans	11,578	5,239


Obligations under leases	5,527	4,808
Accrued interests	—	—

Bank overdrafts	—	—
TOTAL	20,334	10,047

20.2.1.Refundable and conditional advances

The following table summarizes advances outstanding at December 31, 2023 and 2022.


Refundable and conditional advances—general overview	Grant date	Total amount allocated	Receipts	Cancellations	Effects of discounting	Net book value As of 2023/12/31
(in € thousands)
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
TOTAL		3,229	3,229	(3,229)	—	—


Refundable and conditional advances—general overview	Grant date	Total amount allocated	Receipts	Repayments	Effects of discounting	Net book value As of 2022/12/31
(in € thousands)
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
TOTAL		3,229	3,229	—	—	3,229

BPI France - IT-DIAB

On December 23, 2008, the Group received an advance from Bpifrance (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.

As provided in the project assistance contract, we sent a letter to Bpifrance in December 2019 in order to notify it of our Labcorp and Terns Pharmaceuticals contracts while indicating that elafibranor was now aimed at treating hepatic diseases and no longer type 2 diabetes as provided for in the aid agreement. We proposed to Bpifrance to establish a statement of abandonment of the IT-DIAB project on which the above advance is based. Following this letter, the parties met in March 2020 for the presentation of our arguments, and in June 2020 following the publication of the results of the RESOLVE-IT® study, and a new letter was sent in November 2020.

On October 20, 2023, BPI France agreed to formally recognize the failure of the project and therefore write off their outstanding receivable as previously mentioned. As of December 31, 2023, GENFIT had no remaining obligation associated with this, and thus the liability was reversed with the related income recorded in "Other income" on the consolidated statement of operations.

20.2.2.Bank loans

In the context of the COVID-19 pandemic, in 2021 the Company secured several State-Guaranteed Loans (or "Prêt Garanti par l'Etat (PGE) Bancaire") and Subsidized Loans (or "BPI Prêt Taux Bonifié").

Bank loans consisted of the following as of December 31, 2022 and 2023 with the following interest rates and repayment terms:


Bank loans	Loan	Facility	Interest		Available As of 2023/12/31	Installments	Outstanding As of 2022/12/31	Outstanding As of 2023/12/31
(in € thousands)	date	size	rate







BNP 4	April 2017	800	0.87	%	—	60 monthly	54	—
AUTRES	-	—	—	%	—	0	17	13
CDN PGE	June 2021	900	1.36	%	—	8 quarterly	900	675
CIC PGE	June 2021	2,200	0.75	%	—	8 quarterly	2,200	1,650
BNP PGE	June 2021	4,900	0.45	%	—	8 quarterly	4,900	3,675
NATIXIS PGE	June 2021	3,000	0.40	%	—	8 quarterly	3,000	2,250
BPI PGE	July 2021	2,000	2.25	%	—	16 quarterly	1,900	1,500
BPI PRÊT TAUX BONIFIE	November 2021	2,250	2.25	%	—	20 quarterly	2,250	1,820
TOTAL							15,221	11,583

The effective interest rates are follows for the PGE loans:

•CDN PGE (loan of €900): 2.08% per annum

•CIC PGE (loan of €2,200): 1.46% per annum

•BNP PGE (loan of €4,900): 1.16% per annum

•NATIXIS PGE (loan of €3,000): 1.11% per annum

•BPI PGE (loan of €2,000): 1.65% per annum

Maturities of financial liabilities


Maturity of financial liabilities	As of	Less than	Less than	Less than	Less than	Less than	More than
(in € thousands)	2023/12/31	1 year	2 years	3 years	4 years	5 years	5 years

TOTAL - Refundable and conditional advances	—	—	—	—	—	—	—
Convertible loans	57,356	415	56,940	—	—	—	—
Bank loans	11,578	6,339	3,601	867	771	—	—


Leases	5,884	1,076	1,088	1,101	1,114	1,127	378
Accrued interests	7	7	—	—	—	—	—

Bank overdrafts	89	89	—	—	—	—	—
TOTAL - Other loans and borrowings	74,913	7,926	61,630	1,968	1,884	1,127	378
TOTAL	74,913	7,926	61,630	1,968	1,884	1,127	378

The values in the table above are contractual, undiscounted values.

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Share Warrants (Details)	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 31, 2019 € / shares	Dec. 31, 2017 € / shares	Dec. 31, 2021 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,070	35,070			71,760
Total number of BSAAR voided (in shares)	0	36,690
B S A2017 A [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)		0			18,345
Total number of BSAAR voided (in shares)		18,345
Issue price (in EUR per share) \| € / shares				€ 2.00
Excercise price (in EUR per share) \| € / shares				19.97
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares				€ 3.78
End of exercise period				2022/06/30
Expected dividends				0.00%
Expected volatility				36.40%
Risk-free interest rate				0.00%
Conversion ratio				1:1
B S A2017 B [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)		0			18,345
Total number of BSAAR voided (in shares)		18,345
Issue price (in EUR per share) \| € / shares				€ 2.00
Excercise price (in EUR per share) \| € / shares				19.97
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares				€ 3.81
End of exercise period				2022/07/15
Expected dividends				0.00%
Expected volatility				35.70%
Risk-free interest rate				0.00%
Conversion ratio				1:1
B S A2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	35,070	35,070			35,070
Total number of BSAAR voided (in shares)	0	0
Issue price (in EUR per share) \| € / shares			€ 1.23
Excercise price (in EUR per share) \| € / shares			12.32
Estimated fair value - according to IFRS 2 (in EUR per share) \| € / shares			€ 0.75
End of exercise period			2024/05/31
Expected dividends			0.00%
Expected volatility			40.00%
Risk-free interest rate			0.00%
Conversion ratio			1:1
AGA D 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	20,000	20,000
Total number of BSAAR subscribed		20,000
AGA S 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total number of BSAAR subscribed (in shares)	36,500	38,900
Total number of BSAAR voided (in shares)	2,400	300
Total number of BSAAR subscribed		39,200

Related Parties - Additional Information (Details) - Biotech Avenir SAS	12 Months Ended
	Dec. 31, 2023 employee Co-founder
Disclosure of transactions between related parties [line items]
Number of co-founders hold share capital of related party \| Co-founder	4
Number of employees hold share capital of related party \| employee	12
Genfit
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in associate (as a percent)	3.79%

Property, Plant and Equipment - Summary of Variations in Tangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	€ 8,210	€ 9,015
Increase	(798)	(939)
Decrease	455	144
Translation adjustments	8	(3)
Reclassification	(3)	(7)
Ending balance	7,872	8,210
Gross
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	20,794	20,017
Increase	839	1,014
Decrease	(1,426)	(230)
Translation adjustments	0	0
Reclassification	(3)	(7)
Ending balance	20,204	20,794
Gross \| Buildings On Non Freehold Land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	10,921	10,311
Increase	427	610
Decrease	0	0
Translation adjustments	0	0
Reclassification	19	0
Ending balance	11,367	10,921
Gross \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	6,467	6,320
Increase	207	228
Decrease	(1,378)	(82)
Translation adjustments	0	0
Reclassification	0	0
Ending balance	5,295	6,467
Gross \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,537	1,474
Increase	33	61
Decrease	(7)	0
Translation adjustments	0	0
Reclassification	0	2
Ending balance	1,563	1,537
Gross \| Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	91	91
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	91	91
Gross \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,500	1,542
Increase	150	98
Decrease	(32)	(149)
Translation adjustments	0	0
Reclassification	(4)	8
Ending balance	1,613	1,500
Gross \| Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	279	279
Increase	5	0
Decrease	(9)	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	274	279
Gross \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Increase	16	16
Decrease	0	0
Translation adjustments	0	0
Reclassification	(16)	(16)
Ending balance	0	0
Accumulated Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(12,032)	(10,304)
Increase	(1,637)	(1,953)
Decrease	1,338	227
Translation adjustments	8	(3)
Reclassification	0	0
Ending balance	(12,323)	(12,032)
Accumulated Depreciation \| Buildings On Non Freehold Land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(3,934)	(2,900)
Increase	(1,127)	(1,033)
Decrease	0	0
Translation adjustments	(3)	0
Reclassification	0	0
Ending balance	(5,064)	(3,934)
Accumulated Depreciation \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(5,481)	(4,868)
Increase	(296)	(697)
Decrease	1,307	79
Translation adjustments	(1)	4
Reclassification	0	0
Ending balance	(4,471)	(5,481)
Accumulated Depreciation \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(985)	(888)
Increase	(100)	(95)
Decrease	2	0
Translation adjustments	0	(2)
Reclassification	0	0
Ending balance	(1,083)	(985)
Accumulated Depreciation \| Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(43)	(31)
Increase	(12)	(12)
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	(55)	(43)
Accumulated Depreciation \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(1,365)	(1,403)
Increase	(91)	(105)
Decrease	24	148
Translation adjustments	11	(5)
Reclassification	0	0
Ending balance	(1,421)	(1,365)
Accumulated Depreciation \| Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(223)	(213)
Increase	(11)	(10)
Decrease	5	0
Translation adjustments	1	0
Reclassification	0	0
Ending balance	(228)	(223)
Accumulated Depreciation \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	0
Impairment
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(552)	(699)
Increase	0	0
Decrease	543	147
Translation adjustments	0	0
Reclassification	0	0
Ending balance	(9)	(552)
Impairment \| Buildings On Non Freehold Land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(455)	(503)
Increase	0	0
Decrease	455	48
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	(455)
Impairment \| Scientific Equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(59)	(87)
Increase	0	0
Decrease	51	28
Translation adjustments	0	0
Reclassification	0	0
Ending balance	(9)	(59)
Impairment \| Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(24)	(93)
Increase	0	0
Decrease	24	69
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	(24)
Impairment \| Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	0
Impairment \| Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(10)	(12)
Increase	0	0
Decrease	10	2
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	(10)
Impairment \| Furniture [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(3)	(3)
Increase	0	0
Decrease	3	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	0	(3)
Impairment \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0
Increase	0	0
Decrease	0	0
Translation adjustments	0	0
Reclassification	0	0
Ending balance	€ 0	€ 0

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Disclosure of financial assets and liabilities carrying values by category and fair values

Financial detail

The following tables provide the financial assets and liabilities carrying values by category and fair values as of December 31, 2023 and December 31, 2022:


	As of 31/12/2022
	Carrying value				Fair value
	As per	Assets at	Assets at	Assets at	Debt at	Level 1	Level 2	Level 3
	statement of	fair value	fair value	amortized	amortized
	financial	through	through OCI	cost	cost
(in € thousands)	position	profit & loss
Assets
Equity investments	3,133		3,133					3,133
Other investments	483	483						483
Financial investments	4,550	4,550				4,550
Loans	428			428			428

Deposits and guarantees	335			335			335
Liquidity contracts	534	534				534
Trade receivables	3,188			3,188			3,188
Cash and cash equivalents	136,001	136,001				136,001
TOTAL - Assets	148,653	141,568	3,133	3,951	—	141,085	3,951	3,617
Liabilities
Conditional advances	3,229				3,229			3,229
Convertible loans	50,276				50,276		52,708
Bank loans	15,196				15,196		15,196


Obligations under finance leases	6,559				6,559		6,559
Accrued interests	14				14		14


Trade payables	8,613				8,613		8,613
Other payables	1,325				1,325		1,325
TOTAL - Liabilities	85,214	—	—	—	85,214	—	84,416	3,229


	As of 31/12/2023
	Carrying value				Fair value
	As per	Assets at	Assets at	Assets at	Debt at	Level 1	Level 2	Level 3
	statement of	fair value	fair value	amortized	amortized
	financial	through	through OCI	cost	cost
(in € thousands)	position	profit & loss
Assets
Equity investments	2,348		2,348					2,348
Other investments	471	471						471

Loans	472			472			472

Deposits and guarantees	303			303			303
Liquidity contracts	531	531				531
Trade receivables	18,526			18,526			18,526
Cash and cash equivalents	77,789	77,789				77,789
TOTAL - Assets	100,439	78,790	2,348	19,300	—	78,319	19,300	2,819
Liabilities

Convertible loans	52,622				52,622		51,939
Bank loans	11,578				11,578		11,578


Obligations under finance leases	5,884				5,884		5,884
Accrued interests	7				7		7

Bank overdrafts	89				89		89
Trade payables	10,448				10,448		10,448
Other payables	914				914		914
TOTAL - Liabilities	81,541	—	—	—	81,541	—	80,858	—

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

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)."

Leases

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 of the lessee. 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. The amount of short term or low value leases which are not included in the IFRS 16 model is not material.

The following tables show the variations in tangible assets for the years ended December 31, 2022 and 2023:


Property, plant and equipment - Variations	As of As of	Increase	Decrease	Translation	Reclassification	As of As of
(in € thousands)	As of 2021/12/31			adjustments		As of 2022/12/31
Gross


Buildings on non-freehold land	10,311	610	—	—	—	10,921
Scientific equipment	6,320	228	(82)	—	—	6,467
Fittings	1,474	61	—	—	2	1,537
Vehicles	91	—	—	—	—	91
Computer equipment	1,542	98	(149)	—	8	1,500
Furniture	279	—	—	—	—	279
In progress	—	16	—	—	(16)	—
TOTAL - Gross	20,017	1,014	(230)	—	(7)	20,794











Accumulated depreciation


Buildings on non-freehold land	(2,900)	(1,033)	—	—	—	(3,934)
Scientific equipment	(4,868)	(697)	79	4	—	(5,481)
Fittings	(888)	(95)	—	(2)	—	(985)
Vehicles	(31)	(12)	—	—	—	(43)
Computer equipment	(1,403)	(105)	148	(5)	—	(1,365)
Furniture	(213)	(10)	—	—	—	(223)
In progress	—	—	—	—	—	—
TOTAL - Accumulated depreciation	(10,304)	(1,953)	227	(3)	—	(12,032)
Accumulated impairment


Buildings on non-freehold land	(503)	—	48	—	—	(455)
Scientific equipment	(87)	—	28	—	—	(59)
Fittings	(93)	—	69	—	—	(24)
Vehicles	—	—	—	—	—	—
Computer equipment	(12)	—	2	—	—	(10)
Furniture	(3)	—	—	—	—	(3)
In progress	—	—	—	—	—	—
TOTAL - Accumulated impairment	(699)	—	147	—	—	(552)
TOTAL - Net	9,015	(939)	144	(3)	(7)	8,210


Property, plant and equipment - Variations	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	2022/12/31			adjustments		2023/12/31
Gross


Buildings on non-freehold land	10,921	427	—	—	19	11,367
Scientific equipment	6,467	207	(1,378)	—	—	5,295
Fittings	1,537	33	(7)	—	—	1,563
Vehicles	91	—	—	—	—	91
Computer equipment	1,500	150	(32)	—	(4)	1,613
Furniture	279	5	(9)	—	—	274
In progress	—	16	—	—	(16)	—
TOTAL - Gross	20,794	839	(1,426)	—	(3)	20,204











Accumulated depreciation


Buildings on non-freehold land	(3,934)	(1,127)	—	(3)	—	(5,064)
Scientific equipment	(5,481)	(296)	1,307	(1)	—	(4,471)
Fittings	(985)	(100)	2	—	—	(1,083)
Vehicles	(43)	(12)	—	—	—	(55)
Computer equipment	(1,365)	(91)	24	11	—	(1,421)
Furniture	(223)	(11)	5	1	—	(228)
In progress	—	—	—	—	—	—
TOTAL - Accumulated depreciation	(12,032)	(1,637)	1,338	8	—	(12,323)
Accumulated impairment


Buildings on non-freehold land	(455)	—	455	—	—	—
Scientific equipment	(59)	—	51	—	—	(9)
Fittings	(24)	—	24	—	—	—
Vehicles	—	—	—	—	—	—
Computer equipment	(10)	—	10	—	—	—
Furniture	(3)	—	3	—	—	—
In progress	—	—	—	—	—	—
TOTAL - Accumulated impairment	(552)	—	543	—	—	(9)
TOTAL - Net	8,210	(798)	455	8	(3)	7,872

Assets related to contracts that were originally classified as legacy finance leases are scientific equipment and are accounted for under IFRS 16. Their net carrying value as of December 31, 2022 and 2023 amounted to €27 and €0 respectively.

Amortization

Amortization of an asset starts when it becomes available for use. The asset should be in the location and condition that is required for it to be operating in the manner intended by management, which – in the case of in process research and development (IPR&D) acquired from Versantis, will happen once it receives regulatory and marketing approval. Until that point, it is tested for impairment annually in accordance with the requirements of IAS 36. The asset is tested for impairment by comparing its recoverable amount with its carrying amount once a year, at a minimum. An additional impairment test is required whenever there is an indication that an intangible asset may be impaired.

Impairment

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 Group has considered that the discontinued use of some equipment following the termination of RESOLVE-IT® as well as the decision to no longer use part of the leased premises were indicative of an impairment loss requiring the completion of an impairment test of property, plant and equipment or of the rights of use recognized in the statement of financial position for this equipment and lease agreements.

The recovery value of an asset is the higher value between the value in use and the fair value less costs of divestment. The value in use is evaluated in relation to the future forecasted cash flows, discounted at current interest rates, before tax, which reflects the current market appreciation of the time value of money and the risks specific to the asset. In the present case, the recovery value of the tested assets corresponds to their fair value less costs of divestment.

The impacts related to the impairment (and any reversals thereof) of tangible assets and rights of use related to equipment and premises that are no longer in use due to the discontinuation of the RESOLVE-IT® study are recognized in the consolidated statement of operations under “Reorganization and restructuring costs”.

Impairment test of assets under IAS 36

Some equipment belonging to the Group and others under a leasing agreement were no longer in use following the reorganization of the group’s activities and the termination of the RESOLVE-IT® trial decided in mid-2020.

This indication of loss of value led the Group to conduct an impairment test over owned and leased equipment, based on the value at which this equipment may be divested (on the basis of agreements with the lessors on the early purchase of the equipment and near-term purchase offers) in order to determine the recovery value.

In 2022, part of these elements, mainly scientific equipment, were sold. As a result the accumulated impairment for these equipments was reduced to €97, including:

•€59 for scientific equipment (of which €31 related to owned equipment and €28 of leased equipment),

•€24 for fittings, and

•€13 for computer equipment and furniture,

including associated liabilities.

In 2023, part of these elements, mainly scientific equipment, were sold. As a result the related accumulated impairment was reduced to €9, including:

•€9 for scientific equipment (of which €9 related to owned equipment and €0 of leased equipment).

It should be noted that the reversal of provisions related to unused premises in the amount of €455 corresponds to the reorganization of the RESOLVE-IT® study, now substantially complete.

Supplemental IFRS 16 Disclosures

Right of use assets and accumulated amortization

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

Therefore, the right of use assets and related accumulated amortization as of December 31, 2022 included in the table above affect:

•The line item “Building on non-freehold land" amounting to €10,665 and €3,839, respectively;

•The line item "Scientific equipment", amounting to €1,502 and €1,475 respectively.

Therefore, the right of use assets and related accumulated amortization as of December 31, 2023 included in the table above affect:

•The line item “Building on non-freehold land" amounting to €11,067 and €4,940, respectively;

•The line item "Scientific equipment", amounting to €741 and €741 respectively.

Right of use additions

There were no Right of use asset additions in 2023.

Major Events in the Period and Events After the Period - Signature of a Licensing and Partnership Agreement with Ipsen (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
New shares created (in shares)		49,834,983	49,834,983
+ Proceeds from issue of share capital (net)		€ 0	€ 5	€ 27,972
Ipsen \| Collaboration and License Agreement
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Revenue from collaboration, potential milestone payments	€ 75,200	€ 13,300		€ 360,000
Royalty income, percent of collaborative sales				20.00%

Major Events in the Period and Events After the Period - Additional Information (Details) € in Thousands		12 Months Ended
	Oct. 16, 2017 EUR (€) euroPerBond oCEANE	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)	Jul. 28, 2023 EUR (€)	May 31, 2023 EUR (€)	Dec. 16, 2021 EUR (€)
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Expense of restructuring activities			€ (505)	€ (11)	€ 142
Impairment loss			9	97
Increase in capital			€ 27,815	€ 54,791	(59,680)
New shares created (in shares) \| shares			49,834,983	49,834,983
Property, plant and equipment			€ 7,872	€ 8,210	9,015
Number of shares outstanding \| shares			49,834,983	49,834,983
+ Proceeds from issue of share capital (net)			€ 0	€ 5	27,972
Purchase of interests in associates			0	41,525	0
Revenue			€ 38,176	26,566	85,579
Major Events in the Period and Events After the Period			MAJOR EVENTS IN THE PERIOD AND EVENTS AFTER THE PERIOD
Disclosure Of Major Events In The Period Explanatory			Major events in the periodPositive Results from Phase 3 ELATIVE® trial Positive Results On June 30, 2023, GENFIT announced positive topline data from the pivotal ELATIVE® Phase 3 trial. In the trial, the efficacy and safety of elafibranor, an investigational dual α,δ PPAR agonist, is being assessed for the treatment of patients with the rare cholestatic liver disease, Primary Biliary Cholangitis (PBC), who have an inadequate response or intolerance to the current standard of care therapy, ursodeoxycholic acid (UDCA). The trial met its primary composite endpoint, with 51% of patients on elafibranor 80mg achieving a cholestasis response compared with 4% on placebo (p<0.0001). Cholestasis response is defined in the trial as alkaline phosphatase (ALP) <1.67 x upper limit of normal (ULN), an ALP decrease ≥ 15 percent and total bilirubin (TB) ≤ ULN at 52 weeks. ALP and bilirubin are important predictors of disease progression. Reductions in levels of both can indicate reduced cholestatic injury and improved liver function. The first secondary endpoint, normalization of ALP at Week 52, was also met with statistically significant improvements for investigational elafibranor compared with placebo. For the other secondary endpoint, a trend for pruritus improvement was observed with a greater decrease from baseline in the PBC Worst Itch NRS score for patients on elafibranor compared to placebo, which did not reach statistical significance. In the study, elafibranor was generally well tolerated with a safety profile consistent with that observed in previously reported studies. December Filing On December 7, 2023, IPSEN announced that the U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for investigational elafibranor. The target FDA PDUFA date under priority review is June 10, 2024. The European Medicines Agency (EMA) also validated Ipsen’s Marketing Authorization Application (MAA) for elafibranor, and the review of the submission to the EMA’s Committee for Medicinal Products for Human Use (CHMP) began on 26 October 2023. Furthermore, a third simultaneous regulatory filing of elafibranor has been validated for review by the UK Medicines and Healthcare products Regulatory Agency (MHRA). Acceptance of filings in the US and Europe have triggered the first milestone payment for GENFIT totaling €13.3 million which has been recorded as revenue in 2023. For more information on forthcoming milestones, see N ote 7 - "Revenues and other income " to our consolidated financial statements included in this annual report. Seal Rock licence agreement Summary On May 31, 2023, GENFIT announced the signing of a licensing agreement for the exclusive worldwide rights to the ASK1 inhibitor SRT-015 with Seal Rock Therapeutics, a clinical-stage company based in Seattle, Washington developing kinase inhibitors. SRT-015 is an injectable therapy intended for use in acute liver conditions, and GENFIT has acquired the rights to SRT-015 for use in liver conditions for which an injectable therapy is intended to be administered over a period of 21 consecutive days or less, including Acute on Chronic Liver Failure (ACLF) support during this period. Preclinical and clinical evidence support ASK1 inhibition as a relevant therapeutic strategy in multi-system disorders such as ACLF. Total purchase price and contingent milestone payments Under the terms of the agreement, Seal Rock is eligible for payments of up to €100 million (of which €2 million have been paid in 2023 as detailed below), including regulatory, clinical and commercial milestone payments, as well as tiered royalties. See N ote 29 - "Commitments and conti ngent liab i lities " for further details. Accounting treatment of milestones paid and to be paid Under the terms of the agreement, GENFIT made an upfront payment in the amount of €2 million to Seal Rock in exchange for acquiring the know-how and rights of use to SRT-015 as described above. In accordance with IAS 38 - Intangible assets, this amount was capitalized and allocated to Intangible assets. Further, given the nature of the intangible asset, it was determined to have a definite useful life of 20 years, consistent with patent lifetimes in the United States and the European Union. Amortization will start based on the remaining patent term upon EMA/FDA regulatory approval and until then will be subject to an annual impairment test in accordance with IAS 38 - Intangible Assets and IAS 36 - Impairment of assets. As future milestones for this agreement are paid, they will be analyzed and be either i) capitalized and subject to the same annual impairment test or ii) expensed as incurred. For further information, refer to Note 14 - "Goodwill and Intangible Assets". Celloram licence agreement On July 28, 2023, GENFIT licensed the exclusive worldwide rights to CLM-022, a first-in-class inflammasome inhibitor, from Celloram Inc., a Cleveland-based biotechnology company. GENFIT will leverage Celloram’s acquired scientific insights on this molecule, to finalize IND enabling studies of this preclinical stage asset and secure an IND for future clinical trials. A preclinical proof-of-concept is targeted for 2024. Total purchase price and contingent milestone payments Under the terms of the agreement, Celloram is eligible for payments of up to €160 million, including regulatory, clinical and commercial milestones, as well as tiered royalties. See No te 29 - "Commitments and continge nt liab i l it ies" for further details.
Genoscience Pharma
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Milestone payments								€ 50,000
Contingent milestone payments								€ 20,000
Ipsen
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Deferred income			€ 40,000
Revenue			8,700	15,900
Ipsen \| Collaboration and License Agreement
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Revenue from collaboration, potential milestone payments		€ 75,200	13,300		€ 360,000
Royalty income, percent of collaborative sales					20.00%
Seal Rock
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Milestone payments			2,000				€ 100,000
Celloram
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Milestone payments			50			€ 160,000
Impairment
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Property, plant and equipment			€ (9)	€ (552)	€ (699)
OCEANE
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Number of debt instruments issued \| oCEANE	6,081,081
Nominal value per unit (in EUR per bond) \| euroPerBond	29.60
Conversion Exchange Premium			550.00%
Aggregate nominal amount	€ 180,000
Bonds Convertible Or Exchangeable Into Existing Or New Shares O C E A N E
Disclosure Of Major Events In The Period And Events After The Period [Line Items]
Aggregate nominal amount			€ 57,000

Summary of Significant Accounting Policies - Summary of Applicable Exchange Rates Used to Translate Financial Statements (Details)	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 EUR (€) bond	Dec. 31, 2023 EUR (€) USD ($)	Dec. 31, 2023 EUR (€) CHF (SFr)	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2022 EUR (€) shares USD ($)	Dec. 31, 2022 EUR (€) shares CHF (SFr)	Dec. 31, 2021 EUR (€) USD ($)
Disclosure of voluntary change in accounting policy [abstract]
Closing foreign exchange rate \| shares					1	1	1
Average foreign exchange rate	1		1.1050	0.9260	1	1.0666	0.9847	1.1326
ClosingForeignExchangeRateUSDEuro	€ 0.90498	€ 0.90498	€ 0.90498	€ 0.90498	€ 0.93756	€ 0.93756	€ 0.93756	€ 0.88292
ClosingForeignExchangeRateCHFEuro	1.07991	€ 1.07991	€ 1.07991	€ 1.07991	1.01554	€ 1.01554	€ 1.01554
AverageForeignExchangeRateUSDEuro	0.92471				0.95105			€ 0.84542
AverageForeignExchangeRateCHFEuro	1.02936				1.01710
Non Current Assets By Geographical	60,758,000				57,081,000
Disclosure of intangible assets with indefinite useful life [table]
Non Current Assets By Geographical	60,758,000				57,081,000
Number of segment \| bond		1
FRANCE
Disclosure of voluntary change in accounting policy [abstract]
Non Current Assets By Geographical	13,869,000				12,923,000
Disclosure of intangible assets with indefinite useful life [table]
Non Current Assets By Geographical	13,869,000				12,923,000
SWITZERLAND
Disclosure of voluntary change in accounting policy [abstract]
Non Current Assets By Geographical	46,889,000				44,158,000
Disclosure of intangible assets with indefinite useful life [table]
Non Current Assets By Geographical	€ 46,889,000				€ 44,158,000

Share-Based Compensation - Summary of Key Terms and Conditions of Share-Based Compensation Based on Performance Conditions (Parenthetical) (Details) - SOD 2020 SOC2020 SOUS2020	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of exercisable instruments relating to the development of elafibranor in pbc and elative clinical	25.00%	25.00%
Percentage of exercisable instruments relating to the development of NTZ and the ACLF franchise	15.00%	15.00%

Financial Income and Expenses - Summary of Financial Income and Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Income And Expenses [Abstract]
Revenue	€ 38,176	€ 26,566	€ 85,579
Interest income	1,709	137	274
Net foreign exchange gain	452	7,470	8,876
Finance income from renegotiation of debt	0	0	35,578
Other finance income	1,519	605	52
Finance income	3,680	8,212	44,780
Interest expense	(4,553)	(4,341)	(4,846)
Interest Expenses For Leases	(71)	(69)	(109)
Net foreign exchange loss	(966)	(340)	(2,163)
Other finance cost	(23)	(8)	(5)
Finance costs	(5,614)	(4,758)	(7,122)
Financial profit (loss)	€ (1,934)	€ 3,453	€ 37,658

Equity

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

Disclosure of Detailed Information About Share Capital

Detailed breakdown

Share capital


Number of shares	As of
	2022/12/31	2023/12/31
Ordinary shares issued (€0.25 par value per share)	49,834,983	49,834,983
Convertible preferred shares registered	0	0
Total shares issued	49,834,983	49,834,983
Less treasury shares	0	0
Outstanding shares	49,834,983	49,834,983

Equity

EQUITY

Accounting policies

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 Group has a liquidity agreement, 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 18 - “Other financial assets”

Equity

EQUITY

Accounting policies

Detailed breakdown

Share capital


Number of shares	As of
	2022/12/31	2023/12/31
Ordinary shares issued (€0.25 par value per share)	49,834,983	49,834,983
Convertible preferred shares registered	0	0
Total shares issued	49,834,983	49,834,983
Less treasury shares	0	0
Outstanding shares	49,834,983	49,834,983

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).

Changes in share capital in 2023

None.

At December 31, 2023, the remaining unused authorizations to issue additional share-based compensation or other share-based instruments (stock options, free shares and share warrants) represent a total of 525,000 shares.

Compensation of Corporate Officers (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Compensation Of Corporate Officers [Abstract]

Summary of Compensation Paid to Officers

Compensation of key management personnel

The aggregate compensation of the members of the Company’s Board of Directors (including the Chairman of the Board) and to the Chief Executive Officer includes the following:


	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Fixed compensation owed	518	585	614
Variable compensation owed	163	169	170
Attendance fees - board of Directors	488	421	381
Contributions in-kind	23	21	23
Share-based payments	58	74	72
Employer contributions	443	410	396
Consulting fees	0	0	0
TOTAL	1,693	1,680	1,656

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

Compensation of key management personnel

The aggregate compensation of the members of the Company’s Board of Directors (including the Chairman of the Board) and to the Chief Executive Officer includes the following:


	Year ended
(in € thousands)	2021/12/31	2022/12/31	2023/12/31
Fixed compensation owed	518	585	614
Variable compensation owed	163	169	170
Attendance fees - board of Directors	488	421	381
Contributions in-kind	23	21	23
Share-based payments	58	74	72
Employer contributions	443	410	396
Consulting fees	0	0	0
TOTAL	1,693	1,680	1,656

Income Tax - Schedule of Effective Tax Rate (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax expense (income) [abstract]
Net profit (loss)	€ (28,894)	€ (23,719)	€ 67,259
Tax expense (income)	(380)	116	(2,215)
Profit (loss) before tax	€ (28,514)	€ (23,836)	€ 69,474
Applicable tax rate	25.00%	25.00%	27.37%
Tax expense (income) at applicable tax rate	€ 7,129	€ 5,959	€ (19,018)
Increase (Decrease) Related To Tax Effect [Abstract]
Tax Effect Of Tax Credits	1,452	1,504	1,512
Tax Effect Of Permanent Differences	(153)	(31)	833
Tax effect of foreign tax rates	(840)	(67)	7,323
Tax effect of tax losses	(7,832)	(7,037)	0
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense	0	0	5,590
Tax Effect Of Adjustments Without Tax Incidence	(145)	(61)	(129)
Tax Effect Of Non-Recognition Of Deferred Tax Assets Related To Temporary Differences	454	331	(24)
Tax Effect Of Recognition Of Deferred Tax Assets Against Deferred Tax Liabilities	(418)	(453)	430
Tax Effect Of Renegotiation Of Convertible Debt	0	0	1,370
Other tax effects for reconciliation between accounting profit and tax expense (income)	€ (28)	€ (29)	€ (102)
Average effective tax rate	1.33%	(0.49%)	(3.19%)

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young et Autres
Auditor Location	Paris, France
Auditor Firm ID	1704

Trade and Other Payables (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Trade And Other Payables [Abstract]

Schedule of Trade and Other Payables

Financial detail

Trade and other payables consisted of the following:


Trade and other payables - Total	As of
(in € thousands)		2022/12/31	2023/12/31
Trade payables		8,613	10,448
Social security costs payables		4,838	4,188
VAT payables		200	3,139
Taxes payables		316	110
Other payables		1,325	914
TOTAL		15,293	18,799


Trade and other payables - Current	As of
(in € thousands)		2022/12/31	2023/12/31
Trade payables		8,613	10,448
Social security costs payables		4,838	4,188
VAT payables		200	3,139
Taxes payables		316	110
Other payables		877	914
TOTAL		14,845	18,799

Trade and other payables - Non current

As of

(in € thousands)

2022/12/31

2023/12/31

Other payables

448

—

TOTAL

448

—

Trade and Other Payables

12 Months Ended

Dec. 31, 2023

Disclosure Of Trade And Other Payables [Abstract]

Trade and Other Payables

TRADE AND OTHER PAYABLES

Accounting policies

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.

Financial detail

Trade and other payables consisted of the following:


Trade and other payables - Total	As of
(in € thousands)		2022/12/31	2023/12/31
Trade payables		8,613	10,448
Social security costs payables		4,838	4,188
VAT payables		200	3,139
Taxes payables		316	110
Other payables		1,325	914
TOTAL		15,293	18,799


Trade and other payables - Current	As of
(in € thousands)		2022/12/31	2023/12/31
Trade payables		8,613	10,448
Social security costs payables		4,838	4,188
VAT payables		200	3,139
Taxes payables		316	110
Other payables		877	914
TOTAL		14,845	18,799

Trade and other payables - Non current

As of

(in € thousands)

2022/12/31

2023/12/31

Other payables

448

—

TOTAL

448

—

At December 31, 2023, trade payables amounted to €10,448 (€8,613 at December 31, 2022). This change is primarily due to an increase in accrued expenses relating to yet unbilled amounts from the clinical trial sites via the Clinical Research Organizations (CROs) in charge of the Company's clinical trials. (€4,765 and €3,924 at December 31, 2023 and 2022 respectively). The timeframe in which those invoices will be received by the Company is unknown and may be spread out over a long period after the services have been performed.

Trade and other payables

TRADE AND OTHER PAYABLES

Accounting policies

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about 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, 2022 and 2023:


Property, plant and equipment - Variations	As of As of	Increase	Decrease	Translation	Reclassification	As of As of
(in € thousands)	As of 2021/12/31			adjustments		As of 2022/12/31
Gross


Buildings on non-freehold land	10,311	610	—	—	—	10,921
Scientific equipment	6,320	228	(82)	—	—	6,467
Fittings	1,474	61	—	—	2	1,537
Vehicles	91	—	—	—	—	91
Computer equipment	1,542	98	(149)	—	8	1,500
Furniture	279	—	—	—	—	279
In progress	—	16	—	—	(16)	—
TOTAL - Gross	20,017	1,014	(230)	—	(7)	20,794











Accumulated depreciation


Buildings on non-freehold land	(2,900)	(1,033)	—	—	—	(3,934)
Scientific equipment	(4,868)	(697)	79	4	—	(5,481)
Fittings	(888)	(95)	—	(2)	—	(985)
Vehicles	(31)	(12)	—	—	—	(43)
Computer equipment	(1,403)	(105)	148	(5)	—	(1,365)
Furniture	(213)	(10)	—	—	—	(223)
In progress	—	—	—	—	—	—
TOTAL - Accumulated depreciation	(10,304)	(1,953)	227	(3)	—	(12,032)
Accumulated impairment


Buildings on non-freehold land	(503)	—	48	—	—	(455)
Scientific equipment	(87)	—	28	—	—	(59)
Fittings	(93)	—	69	—	—	(24)
Vehicles	—	—	—	—	—	—
Computer equipment	(12)	—	2	—	—	(10)
Furniture	(3)	—	—	—	—	(3)
In progress	—	—	—	—	—	—
TOTAL - Accumulated impairment	(699)	—	147	—	—	(552)
TOTAL - Net	9,015	(939)	144	(3)	(7)	8,210


Property, plant and equipment - Variations	As of	Increase	Decrease	Translation	Reclassification	As of
(in € thousands)	2022/12/31			adjustments		2023/12/31
Gross


Buildings on non-freehold land	10,921	427	—	—	19	11,367
Scientific equipment	6,467	207	(1,378)	—	—	5,295
Fittings	1,537	33	(7)	—	—	1,563
Vehicles	91	—	—	—	—	91
Computer equipment	1,500	150	(32)	—	(4)	1,613
Furniture	279	5	(9)	—	—	274
In progress	—	16	—	—	(16)	—
TOTAL - Gross	20,794	839	(1,426)	—	(3)	20,204











Accumulated depreciation


Buildings on non-freehold land	(3,934)	(1,127)	—	(3)	—	(5,064)
Scientific equipment	(5,481)	(296)	1,307	(1)	—	(4,471)
Fittings	(985)	(100)	2	—	—	(1,083)
Vehicles	(43)	(12)	—	—	—	(55)
Computer equipment	(1,365)	(91)	24	11	—	(1,421)
Furniture	(223)	(11)	5	1	—	(228)
In progress	—	—	—	—	—	—
TOTAL - Accumulated depreciation	(12,032)	(1,637)	1,338	8	—	(12,323)
Accumulated impairment


Buildings on non-freehold land	(455)	—	455	—	—	—
Scientific equipment	(59)	—	51	—	—	(9)
Fittings	(24)	—	24	—	—	—
Vehicles	—	—	—	—	—	—
Computer equipment	(10)	—	10	—	—	—
Furniture	(3)	—	3	—	—	—
In progress	—	—	—	—	—	—
TOTAL - Accumulated impairment	(552)	—	543	—	—	(9)
TOTAL - Net	8,210	(798)	455	8	(3)	7,872

Loans and Borrowings - Summary of Maturities of Financial Liabilities (Details) - Dec. 31, 2023 € in Thousands, $ in Thousands	EUR (€)	USD ($)
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances \| $		$ 0
TOTAL	€ 74,913
Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	57,356
Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	11,578
Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	5,884
Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	7
Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	74,913
Within 1 Year
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances	0
TOTAL	7,926
Within 1 Year \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	415
Within 1 Year \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	6,339
Within 1 Year \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,076
Within 1 Year \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	7
Within 1 Year \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	7,926
Later than one year and not later than two years
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances	0
TOTAL	61,630
Later than one year and not later than two years \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	56,940
Later than one year and not later than two years \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	3,601
Later than one year and not later than two years \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,088
Later than one year and not later than two years \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than one year and not later than two years \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	61,630
Later than two years and not later than three years
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances	0
TOTAL	1,968
Later than two years and not later than three years \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than two years and not later than three years \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	867
Later than two years and not later than three years \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,101
Later than two years and not later than three years \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than two years and not later than three years \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,968
Later than three years and not later than four years
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances	0
TOTAL	1,884
Later than three years and not later than four years \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than three years and not later than four years \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	771
Later than three years and not later than four years \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,114
Later than three years and not later than four years \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than three years and not later than four years \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,884
Later than four years and not later than five years
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances	0
TOTAL	1,127
Later than four years and not later than five years \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than four years and not later than five years \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than four years and not later than five years \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,127
Later than four years and not later than five years \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than four years and not later than five years \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	1,127
Later than five years
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Refundable and conditional advances \| $		$ 0
TOTAL	378
Later than five years \| Convertible Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than five years \| Bank Loans [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than five years \| Lease
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	378
Later than five years \| Accrued Interests [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	0
Later than five years \| Other Financial Loans And Borrowings [Member]
Disclosure of maturity analysis for derivative financial liabilities [line items]
TOTAL - Other loans and borrowings	€ 378