Genfit (GNFT) stock shoots up again. Here is why. – Idaho Reporter

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Genfit (GNFT) stock shoots up again. Here is why.

Genfit (GNFT) stock keeps rocking the casbah ! After a 20% jump ​​on Friday thanks to good news about its elafibranor treatment against primary biliary cholangitis (PBC), French biotech is now soaring by 48% to 5.495 euros.

Investors welcome the signing of a very promising agreement with a major American laboratory, not in the treatment of NASH, but in its detection.

Genfit has signed an exclusive five-year license agreement with LabCorp for the French NIS4 technology aimed at facilitating the identification of patients with NASH at risk.

Under the terms of the agreement, LabCorp Diagnostics (NYSE:LH) will market a blood molecular diagnostic test based on NIS4™ technology in the United States and Canada, broadening its access to healthcare professionals.

NASH is a largely underdiagnosed disease due to its asymptomatic nature and the limitations of diagnostic approaches available today. Liver biopsy, an invasive procedure, is the current clinical benchmark for formally diagnosing NASH and determining the stage of fibrosis.

This partnership with LabCorp aims to make the test available to a large number of specialist and general practitioners in the United States and Canada.

This test, available in 2021, will identify in these two countries the 10 million people at risk of developing complications related to the advanced stages of NASH, among the tens of millions of people with metabolic risk factors and a suspicion of NASH.

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