DBV Technologies Reports Third Quarter 2025 Financial Results

Core Insights - DBV Technologies reported a net loss of $102.1 million for the nine months ended September 30, 2025, compared to a net loss of $90.9 million for the same period in 2024, with a net loss per share of $0.82 [7][8][25] - The company ended Q3 2025 with cash and cash equivalents of $69.8 million, a significant increase from $32.5 million at the end of 2024, providing a cash runway into the third quarter of 2026 [9][13] - Operating expenses rose to $107.0 million for the nine months ended September 30, 2025, up from $96.4 million in the same period of 2024, primarily due to the launch of the COMFORT Toddlers supplemental safety study [5][6] Financial Highlights - Research tax credits increased to $5.0 million for the nine months ended September 30, 2025, compared to $3.6 million in 2024, reflecting more eligible activities [4] - Operating income for the nine months ended September 30, 2025, was $5.0 million, up from $3.6 million in 2024 [4] - Total liabilities increased to $57.6 million as of September 30, 2025, from $38.3 million at the end of 2024 [23] Cash Flow and Financing - Net cash flow used in operating activities decreased to $86.0 million for the nine months ended September 30, 2025, from $92.2 million in 2024, indicating improved cost management [20] - The company raised $117.1 million from financing activities during the nine months ended September 30, 2025, compared to a negligible amount in the same period of 2024 [22] - DBV Technologies established an equity offering program with an aggregate offering price of up to $150.0 million, and subsequently raised approximately $30 million from the issuance of shares [12] Business Overview - DBV Technologies focuses on developing treatment options for food allergies using its proprietary VIASKIN® patch technology, which aims to modify the immune response to allergens [26] - The company is currently conducting clinical trials for the VIASKIN Peanut patch in young children with peanut allergies [26] - DBV Technologies is headquartered in Châtillon, France, with operations in North America [27]