Financial Performance - MetaVia reported a net loss of $27.6 million for the year ended December 31, 2024, or $3.56 per share, compared to a net loss of $12.5 million, or $2.46 per share, for the year ended December 31, 2023[12]. - The net loss for the year was $27.592 million in 2024, compared to a net loss of $12.470 million in 2023, indicating a 121% increase in losses[18]. - Loss per share of common stock increased to $3.56 in 2024 from $2.46 in 2023, reflecting a 44.8% increase[18]. - Loss before income taxes increased to $27.592 million in 2024 from $12.470 million in 2023, representing a 121% increase[18]. Expenses - Research and Development (R&D) expenses increased to approximately $21.6 million for the year ended December 31, 2024, from approximately $9.2 million in 2023, reflecting a $12.4 million increase primarily due to higher clinical trial expenditures[8]. - Research and development expenses increased significantly to $21.553 million in 2024 from $9.158 million in 2023, representing a 135% increase[18]. - Total operating expenses for the year ended December 31, 2024, were approximately $28.8 million, up from approximately $15.9 million in 2023, marking an increase of approximately $12.9 million[12]. - Total operating expenses rose to $28.809 million in 2024, up from $15.886 million in 2023, marking an increase of 81%[18]. - General and administrative expenses rose to $7.256 million in 2024 from $6.728 million in 2023, an increase of 7.8%[18]. Income and Assets - The company reported approximately $1.2 million in other income for the year ended December 31, 2024, down from approximately $3.4 million in 2023, primarily due to a lower gain related to the change in fair value of warrant liabilities[12]. - Total other income decreased to $1.217 million in 2024 from $3.416 million in 2023, a decline of 64%[18]. - Change in fair value of warrant liabilities decreased to $297 thousand in 2024 from $2.955 million in 2023, a decline of 90%[18]. - Interest income increased to $920 thousand in 2024 from $461 thousand in 2023, showing a growth of 99%[18]. - MetaVia's total assets decreased to $16.3 million as of December 31, 2024, from $22.8 million as of December 31, 2023[16]. Clinical Trials and Developments - DA-1241 achieved a statistically significant reduction in alanine transaminase (ALT) levels at weeks 4 and 8 in a Phase 2a clinical trial, with positive results also in secondary endpoints including hemoglobin A1C (HbA1C) levels[8]. - Top-line data from the MAD Part 2 study of DA-1726 is expected in April 2025, with plans for an early proof-of-concept study to commence in Q4 2025[8]. - The company plans to present the complete data set from the Phase 2a clinical trial of DA-1241 at a major medical meeting in 2025 and anticipates an end-of-Phase 2 meeting with the FDA in the first half of 2025[4]. Corporate Changes - MetaVia's common stock began trading on the Nasdaq under the new ticker symbol "MTVA" following a strategic realignment and name change from "NeuroBo Pharmaceuticals, Inc." in November 2024[8].
NeuroBo Pharmaceuticals(NRBO) - 2024 Q4 - Annual Results