Lille (France), Boston (Massachusetts, United States), April 3, 2015 – GENFIT (Euronext: GNFT; ISIN: FR0004163111), a biopharmaceutical company at the forefront of developing therapeutic and diagnostic solutions in metabolic and inflammatory diseases, that notably affect the liver or the gastrointestinal system, today announces its consolidated financial statement for the year ending December 31st, 2014.
CONSOLIDATED FINANCIAL RESULTS FOR 2014
The financial year ending December 31st, 2014 was marked by the following elements:
• Total income has increased to €6.77 million, compared to €5.97 million in 2013. Of this total, industrial revenues accounted for €1.61 million (compared to €1.90 million in 2014) and public research funding made up of operational grants and Research Tax Credit accounted for €5.07 million (compared to €3.92 million in 2013);
• Given the major increase in investments for clinical and pre-clinical studies of the drug candidate GFT505, the operating charges for 2014 were €22.99 million versus €16.38 million in 2013;
• Amongst the operating charges, personnel costs increased to €8.31 million in 2014 (compared to €6.47 million in 2013). This increase was due particularly to the strengthening of the clinical development team and the impact of the bonuses awarded to employees in recognition of their role in the development of the Group and especially in the capital-raising operations undertaken during the financial year. The average number of employees over the 2014
financial year was 81, compared to 75 during 2013;
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