Financial Performance - MetaVia reported total operating expenses of $3.5 million for the three months ended September 30, 2025, a decrease of $2.8 million, or 44.5%, compared to the same period in 2024[92]. - The net loss for the three months ended September 30, 2025, was $3.4 million, compared to a net loss of $5.7 million for the same period in 2024[91]. - The net loss for Q3 2025 was $3.4 million, or $0.14 per share, compared to a net loss of $5.7 million, or $0.55 per share in Q3 2024[99]. - Total operating expenses for the nine months ended September 30, 2025 were $11.7 million, a decrease of $11.6 million or 49.8% from $23.2 million in the same period of 2024[102]. - The company reported total other income of $0.1 million for Q3 2025, a decrease of $0.5 million compared to $0.6 million in Q3 2024[97]. - Cash as of September 30, 2025 was $14.3 million, expected to fund operations into 2026[109]. - Net cash used in operating activities for the nine months ended September 30, 2025 was $10.8 million, compared to $19.2 million in the same period of 2024[117]. - The company has an accumulated deficit of $146.9 million as of September 30, 2025, indicating ongoing financial challenges[109]. Research and Development - Research and development (R&D) expenses were $1.9 million for the three months ended September 30, 2025, a decrease of $2.6 million, or 57.6%, compared to the same period in 2024[92]. - R&D expenses for Q3 2025 totaled $1.9 million, a decrease of $2.6 million or 57.6% compared to $4.5 million in Q3 2024[95]. - For the nine months ended September 30, 2025, R&D expenses were $6.6 million, down $10.9 million or 62.5% from $17.5 million in the same period of 2024[102]. Clinical Trials and Collaborations - Vanoglipel (DA-1241) is currently in a Phase 2a clinical trial for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), with positive top-line results announced in December 2024[72]. - DA-1726 is undergoing a Phase 1 trial in the U.S., with positive top-line data from the single ascending dose part announced in September 2024[77]. - Enrollment for a higher-dose multiple ascending dose cohort of DA-1726 began in June 2025, with top-line data expected in the fourth quarter of 2025[78]. - A research collaboration with Syntekabio, Inc. was announced in August 2025 to optimize the therapeutic profile of Vanoglipel (DA-1241)[82]. - The company is finalizing the Clinical Study Report for the Phase 2a clinical trial of Vanoglipel (DA-1241) and plans to schedule an end-of-Phase 2 meeting with the FDA[73]. Corporate Strategy - MetaVia's legacy therapeutic programs are being considered for out-licensing and divestiture opportunities as the company focuses on its primary candidates[69]. Accounting and Tax - The effective tax rate for both Q3 2025 and Q3 2024 was zero percent due to a full valuation allowance for income tax benefits[98]. - No material changes to critical accounting estimates and judgments since December 31, 2024[125]. - Recent accounting pronouncements include new accounting standards adopted and those not yet adopted[126]. - There are no quantitative and qualitative disclosures about market risk applicable[127].
NeuroBo Pharmaceuticals(NRBO) - 2025 Q3 - Quarterly Report