Commitments and Contingencies
|6 Months Ended|
Jun. 30, 2021
|Commitments and Contingencies Disclosure [Abstract]|
|Commitments and Contingencies||
6. Commitments and Contingencies
(Genfit) filed a complaint against the Company in the U.S. District Court for the Northern District of California,alleging misappropriation of trade secrets and related causes of action based on the Company’s receipt of a Genfit protocol synopsis for Genfit’s Phase 3 clinical trial of its drug candidate elafibranor in patients with primary biliary cholangitis
. An Amended Complaint was filed onApril 16, 2021
with substantially the same allegations. Genfit seeks damages in an unspecified amount as well as injunctive relief.On March 12, 2021, the Court granted a Temporary Restraining Order (later converted to a Preliminary Injunction), prohibiting the Company from accessing or disseminating the protocol synopsis, using any Genfit trade secrets contained therein or destroying any evidence related thereto.
The Company has not yet filed its Reply to the Amended Complai
On June 4, 2021 the Company filed a Motion to Dismiss the Amended Complaint.
The Company intends to defend itself vigorously. While the outcome of any litigation is inherently uncertain, based on currently available information, management does not currently believe a loss associated with this matter is probable, nor is any amount reasonably estimable
, and accordinglyno
amounts have been recorded or disclosed
The entire disclosure for commitments and contingencies.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef