DBV Technologies Reports Third Quarter 2024 Financial Results

Core Insights - DBV Technologies reported a cash balance of $46.4 million as of September 30, 2024, down from $141.4 million at the end of 2023, indicating a net decrease of $95.0 million primarily due to operating activities related to clinical trials [3][4][5] - The company has incurred operating losses and negative cash flows since inception, raising substantial doubt about its ability to continue as a going concern without additional capital [4][6] - DBV expects its cash reserves to last into Q1 2025, but it plans to seek additional financing to support ongoing research and development efforts [5][6] Financial Performance - For the nine months ended September 30, 2024, DBV reported an operating income of $3.6 million, a decrease from $6.9 million in the same period of 2023, attributed to the termination of a collaboration agreement and lower research tax credits [11][12] - Operating expenses increased to $96.4 million for the nine months ended September 30, 2024, compared to $71.4 million in the same period of 2023, driven mainly by research and development costs [12][13] - The net loss for the nine months ended September 30, 2024, was $90.9 million, compared to a net loss of $61.5 million for the same period in 2023, with a net loss per share of $(0.95) [14][16] Cash Flow Analysis - The net cash flow used in operating activities was $(92.2) million for the nine months ended September 30, 2024, compared to $(66.0) million for the same period in 2023 [17] - Cash and cash equivalents decreased by $94.9 million during the nine months ended September 30, 2024, reflecting significant cash outflows [17] Company Overview - DBV Technologies is focused on developing treatment options for food allergies using its proprietary Viaskin technology platform, which aims to modify immune responses through epicutaneous immunotherapy [18] - The company is currently conducting clinical trials for its Viaskin Peanut product aimed at peanut allergies in young children [18][19]