Genfit’s stock (NASDAQ: GNFT) witnessed a remarkable 20% surge in after-hours trading following the release of promising Phase 3 study results for their drug, elafibranor, in the treatment of primary biliary cholangitis (PBC), a rare liver disease.

The groundbreaking data was unveiled at the American Association for the Study of Liver Diseases (AASLD) annual meeting and concurrently published in the prestigious New England Journal of Medicine.

Elafibranor was granted breakthrough therapy designation by the FDA for treating adults with PBC who had an inadequate response to ursodeoxycholic acid (UDCA).