Inclusion Criteria:  Male or female, aged ≥18 years at the time of signing informed consent  Upon central biopsy reading process: diagnosis of NASH according to the Steatosis-Activity-Fibrosis (SAF):  Steatosis score ≥1 Activity score: A3 or A4 Fibrosis score: F2 or F3  Stable dose for the drugs listed below:  Antidiabetic treatment if glucagon-like peptide-1 receptor agonists (GLP1 receptor agonists) or sodium-glucose co-transporter-2 inhibitors (SGLT2 inhibitors): Stable dose for at least 3 months Vitamin E (if at a dose ≥400 IU/day): Stable dose for at least 6 months Statins: Stable dose for at least 3 months All other chronically administered drugs must be stable for at least 3 months prior to Screening Weight stable for 6 months prior to Screening and between the qualifying liver biopsy and Baseline (no more than 5% change for both periods) Negative serum pregnancy test at study Screening for females of childbearing potential confirmed by central laboratory. Females of childbearing potential must practice a consistent and proper use of highly effective method of contraception throughout the study and for 1 month after treatment discontinuation.  Exclusion Criteria:  Liver-related:  Documented causes of chronic liver disease other than NASH Histologically documented liver cirrhosis (fibrosis stage F4) History or current diagnosis of hepatocellular carcinoma HCC History of or planned liver transplant Positive human immunodeficiency virus (HIV) serology ALT or AST >5 × ULN Abnormal synthetic liver function as defined by Screening central laboratory evaluation Haemoglobin <110 g/L (11 g/dL) for females and <120 g/L (12 g/dL) for males Patient currently receiving any approved treatment for NASH or obesity Current or recent history (<5 years) of significant alcohol consumption  Treatment with drugs that may cause non-alcoholic fatty liver disease (NAFLD) administered for at least 2 weeks within 12 months prior to qualifying liver biopsy  Glycaemia related:  HbA1c >9% at Screening Diabetes mellitus other than type 2 Current treatment with insulin  Previous or current treatment with PPAR-gamma agonists (thiazolidinediones [TZDs])  Obesity related:  Bariatric surgery: Restrictive procedures are allowed, if performed >6 months prior to the qualifying liver biopsy; malabsorptive procedures and procedures combining both restrictive and malabsorptive methods are not allowed within 5 years of the qualifying liver biopsy.  Cardiovascular related:  History of heart failure with reduced left ventricular ejection fraction (LVEF) Atrial fibrillation requiring anticoagulation Unstable heart failure  Uncontrolled hypertension at Screening (values >160/100 mm Hg)  General safety:  Women currently breastfeeding Previous exposure to lanifibranor Participation in any clinical trial investigational medicinal product/device within 3 months from Screening or 5 half-lives from Screening, whichever is longer Concomitant treatment with PPAR-alpha agonists (fibrates)