MetaVia Announces the Closing of $9.3 Million Underwritten Public Offering, Including Full Exercise of Allotment Option

Core Viewpoint - MetaVia Inc. has successfully closed an underwritten public offering, raising approximately $9.3 million for the development of its cardiometabolic disease treatments [1][3]. Group 1: Offering Details - The public offering included 3,005,574 shares of common stock and 9,016,722 warrants (4,508,361 Series C Warrants and 4,508,361 Series D Warrants) at a price of $3.10 per share [2]. - The Series C and Series D Warrants are immediately exercisable at an exercise price of $3.10, with Series C expiring in five years and Series D in two years [2]. - The Series D Warrants can be called by the company following a positive data readout from its Phase 1b Part III clinical trial for DA-1726 [2]. Group 2: Financial Implications - If fully exercised, the warrants could yield up to approximately $28.0 million in future gross proceeds [3]. - The net proceeds from the offering will be used for working capital and general corporate purposes, specifically to continue the clinical development of DA-1726 for obesity treatment [3]. Group 3: Company Overview - MetaVia Inc. is focused on transforming cardiometabolic diseases, currently developing DA-1726 for obesity and vanoglipel (DA-1241) for Metabolic Dysfunction-Associated Steatohepatitis (MASH) [7]. - DA-1726 is a novel oxyntomodulin analogue that acts as a dual agonist for GLP1R and GCGR, showing potential for superior weight loss and glucose control [7]. - Vanoglipel (DA-1241) is a GPR119 agonist that has shown positive effects on liver inflammation and glucose metabolism in pre-clinical studies [7].