Daix (France), New York (United States), March 23, 2026 – Inventiva (Euronext Paris and NASDAQ: IVA) (“Inventiva” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of oral therapies for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), today announced that it will release its 2025 full-year financial results on Monday, March 30, 2026, after market close in the United States. Inventiva’s management will hold a conference call in English, follow ...

Core Insights - The company is focused on developing lanifibranor, a pan-PPAR agonist, currently in Phase III study for MASH [1] - Lanifibranor is designed to mitigate the liabilities associated with previous PPARs, such as Actos and Avandia, by creating a more moderate gamma binder [1] - The design approach emphasizes the interconnectedness of PPAR networks, aiming for a balanced effect across all PPARs [1]

Summary of Inventiva Conference Call Company Overview - **Company**: Inventiva (NasdaqGM:IVA) - **Location**: Dijon, France - **Focus**: Biotech company specializing in PPAR agonists, particularly lanifibranor for MASH (Metabolic Associated Steatotic Hepatitis) [6][7] Key Points Product Development - **Lead Program**: Lanifibranor, a pan PPAR agonist, currently in Phase 3 studies for MASH [5][6] - **Enrollment**: Completed in April 2024, with data readout expected in the second half of 2026 [7] - **Market Potential**: MASH market has gained attention, with Madrigal achieving over $1 billion in sales, indicating strong pharmaceutical interest [7] Clinical Data - **Phase 2b Results**: Showed a 26% placebo-adjusted NASH resolution rate and an 18% fibrosis improvement at a six-month time point [17] - **Phase 3 Study (NATiV3)**: Enrolling approximately 1,000 patients, focusing on F2 and F3 fibrosis stages, with a higher percentage of diabetic patients compared to previous studies [20][21] Mechanism of Action - **Lanifibranor's Mechanism**: A novel scaffold that engages all PPAR isoforms with a favorable safety profile, aiming to minimize the adverse effects seen in previous PPAR therapies [14][15][56] Market Strategy - **Target Population**: Approximately 375,000 patients with F2 and F3 MASH under treatment care, with a focus on diabetic patients [37] - **Competitive Advantage**: Lanifibranor is expected to outperform competitors like Rezdiffra, which has a lower effect size [38] Safety and Tolerability - **Safety Profile**: Predicted to have a muted PPAR-gamma effect, leading to less weight gain and fluid retention compared to traditional PPAR agonists [55][57] - **Dropout Rates**: Maintained below 30%, indicating good patient retention and tolerability [61] Future Studies - **Exploratory Cohort**: Includes 410 patients with varying fibrosis stages (F1-F4) to gather safety data and inform future studies [73][75] - **F4 Patient Population**: Plans to conduct an outcome study focused on patients with portal hypertension, aiming for accelerated approval [80][81] Commercialization Plans - **Market Entry**: Plans to self-commercialize lanifibranor, leveraging the successful strategies of mid-size biotech companies like Madrigal [99] - **Intellectual Property**: Exclusivity for lanifibranor extends to 2041 based on polymorph patents, with composition of matter expiring in December 2026 [101] Additional Insights - **Regulatory Alignment**: Continuous dialogue with the FDA regarding the design of outcome studies, ensuring compliance with regulatory expectations [86] - **Impact of Competitors**: Positive outcomes from competitors' studies could validate the efficacy of lanifibranor and enhance its market position [94] This summary encapsulates the critical aspects of Inventiva's conference call, highlighting the company's strategic direction, product development, and market positioning in the biotech industry.

Summary of Inventiva FY Conference Call (March 02, 2026) Company Overview - **Company**: Inventiva (NasdaqGM: IVA) - **Focus**: Ongoing phase three NATiV3 trial for NASH (Non-Alcoholic Steatohepatitis) treatment Key Points Industry and Product Insights - **NASH Market**: The NASH market is competitive, with existing players showing modest effect sizes. Inventiva aims to demonstrate a significant improvement in fibrosis and NASH resolution through its drug, lanifibranor [1][2] - **Phase Three NATiV3 Trial**: The trial is designed similarly to the previous NATIVE two trial, focusing on a combined primary endpoint of fibrosis and NASH resolution. The trial excludes F1 patients, potentially providing a competitive advantage [6][9] - **Expected Outcomes**: A target of approximately 20% effect on fibrosis is anticipated, which could significantly disrupt the current market by doubling existing effect sizes [9][10] Clinical Data and Safety - **Previous Trials**: The NATIVE two trial showed a 24% dual endpoint resolution and 18% fibrosis improvement at six months, setting a benchmark for NATiV3 [6][10] - **Safety Concerns**: Previous safety issues related to hepatic events have been addressed, with ongoing monitoring and assessments showing no significant concerns in the current trial [16][21] - **Weight Gain and Tolerability**: In phase IIb, 50% of patients showed no weight gain, while one-third experienced over 5% weight gain. The company emphasizes that treatment efficacy is not dependent on weight gain [26][37] Market Strategy and Commercialization - **Pre-commercialization Efforts**: A chief commercial strategy officer has been appointed to enhance market access and engage with key opinion leaders (KOLs) [73][80] - **Target Population**: The diabetic NASH population is identified as a significant opportunity, with about 70% of NASH patients also having diabetes. The company plans to focus on the full spectrum of F2 and F3 patients, including those with type 2 diabetes [210][217] Future Trials and Regulatory Considerations - **F4 MASH Confirmatory Trial**: Plans for a confirmatory trial in F4 MASH are in place, with the requirement to run an outcome study for full approval. The trial is expected to start around the time of the NDA filing in 2027 [94][104] - **Patient Selection**: The strategy involves enrolling patients with significant portal hypertension to ensure a higher event rate, which is crucial for powering the trial [135][144] Financial Position - **Cash Position**: As of the end of 2025, the company has EUR 231 million in cash, projected to last through Q3 2027, assuming positive trial data. A EUR 149 million raise was completed in November 2025 [195][196] Combination Therapies - **Potential for Combination**: Lanifibranor's unique mechanism allows for potential combination therapies, particularly with GLP-1s for diabetes management and cardiovascular risk reduction [197][205] Additional Insights - **Market Dynamics**: The company acknowledges the evolving landscape of combination therapies in the NASH space and is open to exploring these opportunities as data becomes available [197][205] - **Investor Communication**: The company aims to provide clear guidance on trial data and market strategies as they progress through the year [39][56] This summary encapsulates the key discussions and insights from the Inventiva FY Conference Call, highlighting the company's strategic direction, clinical trial progress, and market positioning in the NASH treatment landscape.

Core Viewpoint - Shares of Inventiva S.A. (IVA) have increased by 3.6% recently, closing at $6.55, with a mean price target of $15.48 suggesting a potential upside of 136.3% according to Wall Street analysts [1] Price Targets and Estimates - The mean estimate consists of 12 short-term price targets with a standard deviation of $5.56, indicating variability among analysts [2] - The lowest estimate of $8.80 suggests a 34.4% increase, while the highest estimate predicts a 297% surge to $26.00 [2] Analyst Sentiment - There is strong agreement among analysts regarding the company's ability to report better earnings than previously predicted, which supports the potential for stock upside [4][11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 0.2%, with one estimate moving higher and no negative revisions [12] Zacks Rank - IVA holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Conclusion on Price Movement - While the consensus price target may not be a reliable indicator of the stock's potential gain, the implied direction of price movement appears to be a useful guide [14]

Core Viewpoint - Inventiva is actively engaging with investors through participation in multiple healthcare conferences in March 2026, showcasing its focus on developing a treatment for metabolic dysfunction-associated steatohepatitis (MASH) [1][2]. Group 1: Upcoming Investor Events - The company will participate in the TD Cowen 46th Annual Health Care Conference from March 2-4, 2026, with a fireside chat scheduled for March 2 at 10:30 am EST in Boston, Massachusetts [1]. - Inventiva will also be present at the Leerink Global Healthcare Conference from March 9-11, 2026, with a presentation on March 10 at 10:00 am EDT in Miami, Florida [1]. - Additionally, the company will take part in the Barclays 28th Annual Global Healthcare Conference from March 10-12, 2026, with a fireside chat on March 11 at 11:00 am EDT in Miami, Florida [1]. - The UBS Biotech Conference: Catalyst for Change will also feature Inventiva from March 8-10, 2026, in Miami, Florida [1]. Group 2: Company Overview - Inventiva is a clinical-stage biopharmaceutical company focused on developing an oral small molecule therapy for MASH, currently evaluating lanifibranor in a pivotal Phase 3 clinical trial [2]. - The company is publicly listed on Euronext Paris (ticker: IVA) and the Nasdaq Global Market in the United States (ticker: IVA) [3].

Core Viewpoint - Inventiva reported preliminary unaudited financial results for the full year ending December 31, 2025, highlighting significant changes in cash flow, revenues, and operational expenses as it continues to focus on developing therapies for metabolic dysfunction-associated steatohepatitis (MASH) [1]. Financial Position - As of December 31, 2025, the company's cash and cash equivalents were €99.3 million, with short-term deposits amounting to €131.6 million, an increase from €96.6 million in cash and cash equivalents in 2024 [2]. - The company estimates that its cash resources will support operations until the middle of the first quarter of 2027, potentially extending to the middle of the third quarter of 2027 with additional proceeds from the exercise of warrants [7]. Cash Flow Analysis - Net cash used in operating activities was (€104.6) million in 2025, a 22% increase from (€85.9) million in 2024, primarily due to a strategic pipeline prioritization plan and lower revenues from licensing agreements [3]. - Net cash used in investing activities was (€133.2) million in 2025, significantly higher than €8.7 million generated in 2024, mainly due to new short-term deposits [4]. - Net cash generated from financing activities was €241.1 million in 2025, up from €145.6 million in 2024, driven by proceeds from structured financing and a public offering in the United States [5]. Revenue Performance - The company's revenues for 2025 were €4.5 million, a decrease from €9.2 million in 2024, primarily consisting of milestone payments and credit notes from licensing agreements [8]. Future Financial Reporting - The company plans to publish its audited financial results for the full fiscal year 2025 on March 30, 2026, after the U.S. market close [9]. Company Overview - Inventiva is a clinical-stage biopharmaceutical company focused on developing oral therapies for MASH, currently evaluating lanifibranor in a pivotal Phase 3 clinical trial [10].

Summary of Inventiva's Conference Call Company Overview - **Company**: Inventiva (NasdaqGM:IVA) - **Event**: 2026 Conference at Guggenheim's Emerging Outlook Biotech Conference - **Key Speaker**: CEO Andrew Obenshain Industry Context - **Industry**: MASH (Metabolic Dysfunction-Associated Steatotic Liver Disease) - **Market Potential**: The MASH market is evolving with recent clinical successes, including two approvals and a billion-dollar market potential for F2 and F3 patients. The diagnosis rate is increasing, with over 15 million patients in the U.S. and 375,000 addressable patients in F2 and F3 categories [2][10]. Core Points and Arguments - **Clinical Trials**: Inventiva is preparing for a Phase 3 trial readout for lanifibranor, a pan-PPAR agonist targeting F2 and F3 patients. The trial is fully enrolled, and data cleaning is underway [3][8]. - **Market Positioning**: Lanifibranor is expected to be used alongside GLP-1 treatments, with a significant effect size of 18% after 6 months compared to 12% for Rezdiffra after 12 months [11][12]. - **Patient Demographics**: The patient population is split between non-diabetics (40%) and diabetics (60%). Lanifibranor is particularly beneficial for diabetic patients due to its ability to reduce HbA1c levels [10][12]. - **Trial Design**: The NATiV3 study is designed conservatively, allowing for a dropout rate of up to 30%, with current rates below this threshold [13][14]. The trial includes a randomized design with a focus on both fibrosis and steatosis improvement [16][18]. - **Safety and Tolerability**: Lanifibranor is a novel chemical entity designed to mitigate historical safety concerns associated with PPARs. Weight gain is a potential side effect, but 50% of patients experience no weight gain, and 20% have modest gains [30][32]. Additional Important Insights - **Strategic Partnerships**: There is a cautious sentiment in the pharmaceutical industry regarding PPARs due to past experiences. However, positive Phase 3 data could overcome these concerns [41]. - **Future Trials**: Inventiva plans to conduct an F4 outcomes trial with lanifibranor, focusing on patients with portal hypertension [42][43]. - **Cash Runway**: The company has structured its finances to support operations through Q3 2027, with a potential third tranche of funding of EUR 118 million contingent on positive trial data [55]. Conclusion Inventiva is positioned to make significant strides in the MASH market with lanifibranor, backed by a strong clinical trial framework and a clear understanding of market dynamics. The upcoming Phase 3 data will be crucial for the company's future and potential partnerships.

Market Overview - The S&P 500 and Nasdaq Composite declined by 0.1% and 1.9% respectively, while the Dow Jones Industrial Average increased by 2.5% last week, indicating a mixed performance across major indexes [1] - The divergence in market performance was attributed to a rotation in investor preferences rather than overall market weakness, with rising Treasury yields making high-valuation growth stocks less appealing [1] Sector Performance - Optimism regarding economic resilience led to increased buying in cyclically sensitive and defensive sectors, with industrials benefiting from infrastructure and manufacturing strength, financials gaining from higher yields, and energy rising with firmer oil prices [2] - This shift underscores a focus on earnings stability and tangible cash flows among investors [2] Zacks Research Performance - Kennametal Inc. (KMT) shares surged by 44.8% since being upgraded to a Zacks Rank 1 (Strong Buy) on December 8, outperforming the S&P 500's 0.7% increase [3] - Inventiva S.A. (IVA) also saw a return of 42.4% since its upgrade to Zacks Rank 1 on the same date [4] - An equal-weight portfolio of Zacks Rank 1 stocks outperformed the equal-weight S&P 500 index by 7 percentage points, returning 17.81% compared to 10.85% for the index [4] Zacks Recommendations - Clearway Energy, Inc. (CWENA) and Pursuit Attractions and Hospitality, Inc. (PRSU) saw share increases of 16.7% and 5.4% respectively since their upgrades to Outperform on December 10 and December 11 [6] - The Zacks Recommendation system aims to predict stock performance over the next 6 to 12 months, based on trends in earnings estimate revisions [7] Focus List and Portfolios - Celanese Corporation (CE) gained 32.9% over the past 12 weeks since being added to the Zacks Focus List, while Intellia Therapeutics, Inc. (NTLA) returned 29% over the same period [9] - The Zacks Focus List portfolio returned 22.1% in 2025, outperforming the S&P 500 index's 17.9% gain [10] - The Earnings Certain Admiral Portfolio (ECAP) returned -1.67% for 2025, underperforming the S&P 500 index's 17.9% gain, but had a return of 16.26% in 2024 compared to the S&P 500's 24.89% [14] Dividend Portfolio Performance - Illinois Tool Works Inc. (ITW) and Fastenal Company (FAST) returned 19.6% and 16.8% respectively over the past 12 weeks, benefiting from investor interest in quality dividend stocks amid market volatility [16] - The Earnings Certain Dividend Portfolio (ECDP) returned -0.6% for 2025, underperforming the Dividend Aristocrat ETF's 6.8% gain [17] Top 10 Stocks Performance - Monolithic Power Systems (MPWR) increased by 31.4% since January 5, 2026, compared to the S&P 500 Index's 1.1% increase [20] - The Top 10 portfolio has produced a cumulative return of 2,472.7% since 2012, significantly outperforming the S&P 500 index's 561.6% return [21]

Core Insights - Inventiva, a clinical-stage biopharmaceutical company, focuses on developing oral therapies for metabolic dysfunction-associated steatohepatitis (MASH) [1][2] - CEO Andrew Obenshain will participate in a fireside chat at the Guggenheim Emerging Outlook: Biotech Summit 2026 on February 11-12, 2026, in New York City [1][2] Company Overview - Inventiva is engaged in the research and development of oral small molecule therapies targeting MASH and other diseases with significant unmet medical needs [2] - The company is currently evaluating lanifibranor, a novel pan-PPAR agonist, in the NATiV3 pivotal Phase 3 clinical trial for adult patients with MASH [2] Stock Information - Inventiva is publicly listed on Euronext Paris (ticker: IVA) and the Nasdaq Global Market in the United States (ticker: IVA) [3]