Inventiva reports its unaudited 2025 first-half financial results and provides a corporate update

Core Insights - Inventiva has made significant progress in its clinical program and financial position during the first half of 2025, particularly in its Phase 3 clinical trial for MASH [2][23] - The company reported revenues of €4.5 million for the first half of 2025, a substantial increase from €41,000 in the same period of 2024 [4][11] - A net loss of €175.9 million was recorded for the first half of 2025, compared to a net loss of €49.0 million in the first half of 2024 [11][12] Financial Performance - Revenues for the first half of 2025 were primarily driven by a €10 million milestone payment from Chia Tai Tianqing Pharmaceutical Group and €5 million in credit notes under a license agreement [5] - Other income decreased to €1.2 million in the first half of 2025 from €2.7 million in the same period of 2024, attributed to changes in R&D tax credit eligibility [6] - Research and development expenses were €44.9 million, down 4% from €46.8 million in the first half of 2024, reflecting a decrease in costs related to discontinued preclinical programs [7] Cash Position - As of June 30, 2025, cash and cash equivalents totaled €146.7 million, including €24.6 million in short-term deposits, with a cash runway projected until the end of Q3 2026 [8][16] - The company generated €104.8 million from financing activities in the first half of 2025, primarily from the second tranche of structured financing [14] Corporate Developments - A leadership transition occurred with the appointment of Jason Campagna as President of R&D and Chief Medical Officer [18] - The company received authorization for a workforce reduction plan, which began implementation in May 2025 [18] - The completion of enrollment for the pivotal Phase 3 clinical trial, NATiV3, was announced on April 1, 2025 [18] Future Outlook - Topline results from the NATiV3 trial are expected in the second half of 2026 [20] - The company plans to raise additional funds for long-term objectives, including potential public offerings or strategic partnerships [17]