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]

Core Viewpoint - DBV Technologies reported its financial results for the second quarter and half-year of 2025, highlighting a net loss and changes in operating income and expenses, while also discussing its ongoing development of the Viaskin Peanut patch for food allergies [1][19]. Financial Highlights - The interim condensed consolidated financial statements were prepared in accordance with U.S. GAAP and IFRS [2]. - Operating income for the six months ended June 30, 2025, was $2.2 million, a decrease from $2.6 million in the same period of 2024, primarily due to a lower French Research Tax Credit entitlement [3][4]. - Operating expenses increased to $69.9 million for the six months ended June 30, 2025, compared to $65.0 million for the same period in 2024, driven mainly by the launch of the COMFORT Toddlers supplemental safety study [5][6]. Net Loss - The company recorded a net loss of $69.0 million for the six months ended June 30, 2025, compared to a net loss of $60.5 million for the same period in 2024. The net loss per share was $(0.58) for the first half of 2025, compared to $(0.63) for the same period in 2024 [7][9]. Cash Position - Cash and cash equivalents amounted to $103.2 million as of June 30, 2025, a significant increase from $32.5 million as of December 31, 2024, reflecting a net increase of $70.7 million [10][14]. - The company announced a financing of up to $306.9 million to advance the Viaskin Peanut patch, with gross proceeds of $125.5 million received on April 7, 2025 [11][12]. Assets and Liabilities - As of June 30, 2025, total assets were $143.4 million, with liabilities of $57.2 million, resulting in shareholders' equity of $86.2 million [16].