DBV Technologies(DBVT) - 2025 Q2 - Quarterly Results

DBV Technologies Second Quarter and Half-Year 2025 Financial Results Financial Highlights DBV Technologies reported a net loss of $69.0 million in H1 2025, with cash increasing to $103.2 million, yet faces going concern doubts Operating Income - Operating income for the first six months of 2025 decreased compared to the same period in 2024, primarily due to a lower French Research Tax Credit as more study activities were conducted in North America and were therefore ineligible[4] Operating Income (U.S. GAAP) | Operating Income (U.S. GAAP) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | In millions of USD | | | | Research tax credit | $2.2 | $2.6 | | Operating income | $2.2 | $2.6 | Operating Expenses - Operating expenses for the first six months of 2025 increased by $4.9 million year-over-year, mainly driven by the launch of the COMFORT Toddlers supplemental safety study[6] Operating Expenses (U.S. GAAP) | Operating Expenses (U.S. GAAP) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | In millions of USD | | | | Research & Development | $(55.2) | $(46.8) | | Sales & Marketing | $(0.7) | $(1.7) | | General & Administrative | $(14.1) | $(16.4) | | Total Operating Expenses | $(69.9) | $(65.0) | Net Loss and Net Loss Per Share - The company's net loss widened for the first half of 2025 compared to the prior year, while the net loss per share showed a slight improvement[8] Net Loss Metrics (U.S. GAAP) | Net Loss Metrics (U.S. GAAP) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net loss (in millions of USD) | $(69.0) | $(60.5) | | Basic / diluted net loss per share (USD/share) | $(0.58) | $(0.63) | Cash Position and Going Concern - The company's cash and cash equivalents significantly increased to $103.2 million as of June 30, 2025, from $32.5 million at the end of 2024, primarily due to a new financing arrangement[10][14] - In March 2025, the company announced a financing of up to $306.9 million to advance its Viaskin® Peanut patch, with initial gross proceeds of $125.5 million received in April 2025[11] - Despite the recent financing, the company states there is substantial doubt about its ability to continue as a going concern, as its current cash is estimated to fund operations only into the second quarter of 2026[10][11] Condensed Consolidated Financial Statements Condensed financial statements as of June 30, 2025, show total assets of $143.4 million and a net loss of $69.0 million Statements of Financial Position Balance Sheet Highlights (U.S. GAAP) | Balance Sheet Highlights (U.S. GAAP) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | In millions of USD | | | | Cash & cash equivalents | $103.2 | $32.5 | | Total Assets | $143.4 | $65.7 | | Total Liabilities | $57.2 | $38.3 | | Shareholders' equity | $86.2 | $27.4 | Statements of Operations Income Statement (U.S. GAAP) | Income Statement (U.S. GAAP) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | In millions of USD | | | | Operating income | $2.2 | $2.6 | | Research & Development | $(55.2) | $(46.8) | | Operating expenses | $(69.9) | $(65.0) | | Net loss | $(69.0) | $(60.5) | | Basic/diluted net loss per share | $(0.58) | $(0.63) | Company Overview and Forward-Looking Statements DBV Technologies, a clinical-stage biopharmaceutical company, focuses on Viaskin Peanut development and includes standard forward-looking statements - DBV Technologies is a clinical-stage biopharmaceutical company developing treatments for food allergies via its proprietary epicutaneous immunotherapy (EPIT) platform, Viaskin[18] - The company's primary focus is on the clinical trials of Viaskin Peanut for peanut-allergic toddlers (1-3 years) and children (4-7 years)[18] - The press release contains forward-looking statements regarding its financial condition and the potential of Viaskin® Peanut, which involve substantial risks as its product candidates are not yet authorized for sale[20]