Genfit (ALGFT), a French drug developer, rose the most since 2006 in Paris trading after saying an experimental drug met all the goals of a mid-stage clinical trial in treating risk factors associated with diabetes.
Genfit rose 84 percent to 3.45 euros, giving the company a market value of 47 million euros ($62 million). It was the biggest advance ever for the company, which first sold shares to the public in December 2006.
The drug, GFT505, improved the liver’s sensitivity to insulin, and helps with a condition called dyslipidemia, which includes low levels of so-called good cholesterol and elevated readings of triglycerides, or fats in the bloodstream, the Loos, France-based company said in a statement. There were no adverse side effects, the company said.
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