Core Viewpoint - Inventiva reported preliminary financial results for the first half of 2025, highlighting significant changes in cash position, operating expenses, and revenue generation, as well as the need for future funding to support its clinical development efforts [1][10]. Financial Position - As of June 30, 2025, the company's cash and cash equivalents were €122.1 million, with an additional €24.6 million in short-term deposits, an increase from €96.6 million at the end of 2024 [2][13]. - The net cash used in operating activities was (€53.9) million in H1 2025, compared to (€48.3) million in H1 2024, primarily due to working capital changes and pipeline prioritization [3]. - Net cash used in investing activities was (€24.8) million in H1 2025, a significant decrease from €8.9 million generated in H1 2024, attributed to new deposit subscriptions [4]. - Financing activities generated €104.9 million in H1 2025, a substantial increase from €22.6 million in H1 2024, mainly from the second tranche of structured financing [5]. Revenue Generation - Revenues for the first half of 2025 amounted to €4.5 million, a notable increase from zero in the same period of 2024 [10]. - The revenue included a €10 million milestone payment from CTTQ and €5 million in credit notes under a license agreement with CTTQ [11]. Future Outlook - The company estimates that its current cash position, combined with the expected milestone payment from CTTQ, will fund operations until the end of Q3 2026 [7]. - Additional funding will be necessary for long-term objectives related to the development and commercialization of lanifibranor, potentially through public offerings, private placements, or strategic partnerships [8].