On November 6, 2024, DBV Technologies S.A. (NASDAQ: DBVT) released its financial results for the fiscal quarter ending September 30, 2024, as per a recent 8-K filing submitted to the Securities and Exchange Commission. The French clinical-stage biopharmaceutical company reported a cash balance of $46.4 million at the close of Q3 2024 with a cash runway projected into Q1 2025.
DBV Technologies highlighted that its cash and cash equivalents decreased to $46.4 million from $141.4 million at the end of 2023. The reduction mainly stemmed from operating activities, particularly external clinical trial expenditures and regulatory and manufacturing undertakings to support ongoing clinical trials. Given the current financial standing, DBV acknowledged doubts about its continuity as a going concern, emphasizing the need for additional capital to sustain operations beyond the next twelve months.
The financial report further detailed the company’s operating income, which comprised the French Research Tax Credit (CIR) following the termination of the Collaboration Agreement with NESTEC in 2023. The operating income for the nine months up to September 30, 2024, was $3.6 million, showing a decrease from the same period in 2023 due to changes in the revenue sources post the Collaboration Agreement cessation.
Operating expenses surged to $96.4 million for the nine months ended September 30, 2024, compared to $71.4 million in the prior year. This escalation was primarily attributed to increased Research & Development spending related to patient enrollment in the VITESSE Phase 3 clinical trial and preparatory measures for upcoming studies.
DBV Technologies highlighted a net loss of $90.9 million for the nine months ended September 30, 2024, in contrast to a net loss of $61.5 million during the same period in 2023. The accompanying net loss per share for the period was $(0.95), reflecting the weighted average number of shares outstanding during the timeframe.
The company’s financial statements and additional details can be accessed through the official filing with the Securities and Exchange Commission. Investors are advised to review the comprehensive financial information, considering the risks and uncertainties associated with DBV Technologies’ operations.
For further information, please visit DBV Technologies’ official website and interact with the team on social media platforms.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DBV Technologies’s 8K filing here.
DBV Technologies Company Profile
DBV Technologies SA, a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its product pipeline comprising Viaskin Peanut, an immunotherapy product, which has completed Phase 3 clinical trial for the treatment of peanut allergies; and Viaskin Milk which is in Phase 1/2 clinical trial for the treatment of immunoglobulin E (IgE) mediated or cow’s milk protein allergy and eosinophilic esophagitis.
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