Inventiva reports its 2024 full year results and provides a business update

Core Insights - Inventiva reported significant progress in its clinical trials and secured substantial financing to support its operations and research initiatives [2][4][7] Financial Performance - As of December 31, 2024, the company's cash and cash equivalents increased to €96.6 million from €26.9 million in 2023 [3] - Net cash used in operating activities rose to (€85.9) million in 2024, a 5.3% increase from (€81.6) million in 2023 [4] - R&D expenses decreased by 17% to €90.9 million in 2024, down from €110.0 million in 2023, primarily due to a temporary pause in patient recruitment for the NATiV3 trial [4][14] - Revenues for 2024 were €9.2 million, a decline from €17.5 million in 2023, mainly due to changes in licensing agreements [12][19] - The net loss for 2024 was (€184.2) million, compared to (€110.4) million in 2023, largely due to non-cash accounting treatments [18][20] Clinical Development - The NATiV3 Phase 3 trial for lanifibranor is nearing completion of patient enrollment, with the last patient screened in January 2025 [7][32] - Positive results were published from the LEGEND Phase 2 trial, indicating lanifibranor's potential in treating MASH and Type 2 diabetes [2][22] - A strategic pipeline prioritization plan was presented, focusing exclusively on lanifibranor and resulting in a 50% workforce reduction [7][23] Financing Activities - The company secured a structured multi-tranche equity financing of up to €348 million, with gross proceeds of €116 million from the first tranche [5][6][7] - Expected proceeds from the second tranche of the financing are approximately €116 million, along with a milestone payment of $10 million from CTTQ [9] Future Outlook - The company estimates its current cash position will support operations until the middle of the third quarter of 2025, with potential additional funding extending this to the end of the third quarter of 2026 [8][9] - Upcoming milestones include the completion of the NATiV3 trial and participation in various investor and scientific conferences [33][28]