DBV Technologies S.A. (DBVT) Bundle
A Brief History of DBV Technologies
DBV Technologies, a biopharmaceutical company, has been focused on developing treatments for food allergies, particularly peanut allergies, through its proprietary Viaskin platform. The company’s journey began with its founding in 2002, and it has since evolved significantly, particularly in its research and development efforts aimed at achieving regulatory approvals for its innovative products.
Recent Developments
As of 2024, DBV Technologies has faced numerous challenges and changes in its operational landscape. The termination of its collaboration agreement with NESTEC in October 2023 impacted its revenue streams, leaving the company reliant on the French research tax credit for operating income. This led to a drastic decrease in operating income from $6.9 million in the nine months ended September 30, 2023, to $3.6 million in the same period for 2024, representing a decline of 46.9%.
Financial Performance
The company's financial health has been concerning, with net losses increasing significantly. The net loss for the nine months ended September 30, 2024, was $90.9 million, compared to $61.5 million for the same period in 2023, marking a 47.7% increase.
| Financial Metrics | 2024 (Nine Months) | 2023 (Nine Months) | Change (%) |
|---|---|---|---|
| Operating Income | $3.6 million | $6.9 million | -46.9% |
| Net Loss | $90.9 million | $61.5 million | +47.7% |
| Basic Net Loss per Share | $(0.95) | $(0.65) | +46.2% |
Operating Expenses
Operating expenses surged, driven by substantial investments in research and development, which rose by 48.5% from $47.4 million in 2023 to $70.4 million in 2024. The following table summarizes the major components of operating expenses:
| Operating Expense Category | 2024 (Nine Months) | 2023 (Nine Months) | Change (%) |
|---|---|---|---|
| Research and Development Expenses | $70.4 million | $47.4 million | +48.5% |
| Sales and Marketing Expenses | $2.3 million | $1.6 million | +40.3% |
| General and Administrative Expenses | $23.7 million | $22.3 million | +6.1% |
Cash Position and Liquidity
As of September 30, 2024, DBV Technologies reported cash and cash equivalents of $46.4 million, a significant decrease from $141.4 million at the end of 2023. The company has indicated that its current cash position may not support its operating plans for the next 12 months, raising substantial doubt regarding its ability to continue as a going concern.
Future Outlook
DBV Technologies plans to continue its efforts towards the potential launch of its lead product, Viaskin Peanut, while seeking additional capital to fund its operations and development programs. The ongoing challenges in securing financing and achieving regulatory milestones will be critical determinants of the company’s future trajectory.
A Who Owns DBV Technologies S.A. (DBVT)
Current Ownership Structure
As of September 30, 2024, DBV Technologies S.A. has a total of 96,501,526 ordinary shares outstanding. This includes treasury shares, which were 297,180 as of this date.
Shareholder Composition
The ownership of DBV Technologies is characterized by a mix of institutional and retail investors. The following table summarizes the major shareholders and their respective ownership percentages:
| Shareholder | Ownership (%) | Number of Shares |
|---|---|---|
| Institutional Investors | Approximately 65% | 62,226,988 |
| Retail Investors | Approximately 25% | 24,125,381 |
| Company Executives and Board Members | Approximately 10% | 9,149,157 |
Financial Performance Indicators
DBV Technologies reported a net loss of $90.9 million for the nine months ended September 30, 2024, compared to a net loss of $61.5 million for the same period in 2023. This translates to a net loss per share of $0.95 in 2024, up from $0.65 in 2023.
Cash and Liquidity Position
As of September 30, 2024, the company had cash and cash equivalents amounting to $46.4 million, a significant decrease from $141.4 million at the end of December 2023. The net cash used in operating activities was $92.2 million for the nine months ended September 30, 2024, compared to $66.0 million for the same period in 2023.
Recent Developments
DBV Technologies underwent significant changes in its operational strategy following the termination of its Collaboration Agreement with NESTEC on October 30, 2023. This has impacted its revenue, which is now primarily derived from the French research tax credit.
Future Financing Needs
The company anticipates needing additional capital to support its ongoing operations and product development. As of the latest data, DBV Technologies has indicated potential plans to raise funds through public or private equity offerings.
Shareholder Equity Overview
The total shareholders’ equity as of September 30, 2024, was reported at $54.0 million, a decrease from $140.2 million at the end of December 2023.
DBV Technologies S.A. (DBVT) Mission Statement
Overview of Mission Statement
DBV Technologies S.A. is committed to transforming the treatment of food allergies through innovative therapies. The company's mission focuses on leveraging its proprietary technology platform to develop non-invasive, effective, and safe treatments for patients, particularly children suffering from peanut allergies.
Strategic Objectives
- Innovation: Drive continuous innovation in immunotherapy and allergy treatments.
- Patient-Centric Approach: Prioritize the needs and safety of patients in all development processes.
- Global Reach: Expand access to therapies worldwide, particularly in regions with high prevalence of food allergies.
- Collaboration: Foster partnerships with healthcare providers, research institutions, and other stakeholders to enhance research and development efforts.
Financial Performance Indicators
As of September 30, 2024, DBV Technologies reported significant financial metrics reflecting its operational status:
| Financial Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Operating Income | $3.64 million | $6.85 million | $(3.21 million) | (46.9)% |
| Research and Development Expenses | $(70.44 million) | $(47.45 million) | $(22.99 million) | 48.5% |
| Sales and Marketing Expenses | $(2.26 million) | $(1.61 million) | $(0.65 million) | 40.3% |
| Net Loss | $(90.90 million) | $(61.54 million) | $(29.36 million) | 47.7% |
| Cash and Cash Equivalents | $46.44 million | $141.37 million | $(94.93 million) | (67.1)% |
Research and Development Focus
DBV Technologies is primarily focused on advancing its lead product, Viaskin Peanut, which aims to desensitize peanut-allergic patients through a non-invasive patch. The company has made significant investments in clinical trials and product development:
| Clinical Trial Phase | Budget Allocation (2024) | Expected Outcomes |
|---|---|---|
| VITESSE Phase 3 | $162.4 million | Evaluate efficacy in peanut allergic children |
| COMFORT Studies | Part of ongoing clinical trials | Safety evaluation in younger populations |
Challenges and Opportunities
DBV Technologies faces financial challenges, including substantial net losses and a decline in cash reserves. The company reported:
- Net Loss: $90.90 million for the nine months ending September 30, 2024.
- Cash Flow: Negative cash flow from operating activities of $92.22 million.
- Funding Needs: Anticipated need for additional capital to support ongoing operations and clinical trials.
Despite these challenges, DBV Technologies remains poised for potential growth through successful product development and strategic partnerships.
How DBV Technologies S.A. (DBVT) Works
Company Overview
DBV Technologies S.A. (DBVT) is a clinical-stage biopharmaceutical company focused on developing innovative therapies for food allergies. The company’s primary product candidate is Viaskin Peanut, a patch designed to treat peanut allergies through immunotherapy.
Financial Performance
As of September 30, 2024, DBV Technologies reported the following financial metrics:
| Financial Metric | 2024 | 2023 | Change ($) | % Change |
|---|---|---|---|---|
| Operating Income | $3.6 million | $6.9 million | $(3.3) million | (46.9)% |
| Research and Development Expenses | $(70.4) million | $(47.4) million | $(22.9) million | 48.5% |
| Sales and Marketing Expenses | $(2.3) million | $(1.6) million | $(0.7) million | 40.3% |
| General and Administrative Expenses | $(23.7) million | $(22.3) million | $(1.4) million | 6.1% |
| Net Loss | $(90.9) million | $(61.5) million | $(29.4) million | 47.7% |
| Net Loss per Share | $(0.95) | $(0.65) | $(0.30) | 46.2% |
Operational Highlights
DBV Technologies has been focusing on its lead product, Viaskin Peanut, and has incurred significant research and development expenses primarily due to:
- External clinical-related expenses: $49.7 million (2024) vs. $34.2 million (2023), a 45.5% increase.
- Employee-related costs: $13.1 million (2024) vs. $9.8 million (2023), a 33.3% increase.
- Share-based payment expenses: $2.2 million (2024) vs. $1.9 million (2023), a 16.2% increase.
- Depreciation, amortization, and other costs: $5.5 million (2024) vs. $1.6 million (2023), a 243.5% increase.
Liquidity and Capital Resources
As of September 30, 2024, DBV Technologies had cash and cash equivalents amounting to $46.4 million, a decline from $141.4 million at the end of 2023. The company anticipates that its available cash will be sufficient to support operations into the first quarter of 2025.
However, there is substantial doubt regarding its ability to continue as a going concern beyond that period due to ongoing operating losses and negative cash flows since inception.
| Liquidity Metric | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $46.4 million | $141.4 million |
| Net Cash Used in Operating Activities | $(92.2) million | $(66.0) million |
| Net Cash Flows from Financing Activities | $(0.1) million | $7.0 million |
Research and Development Focus
The company is heavily invested in clinical trials, particularly the VITESSE Phase 3 clinical trial for Viaskin Peanut, with expenses rising significantly as patient enrollment progresses. The preparatory activities for the COMFORT studies also contribute to the increased costs.
Market Position and Future Outlook
DBV Technologies has not generated any revenue from product sales as of the latest reporting period. The company continues to seek additional capital and may pursue various financing strategies to support its ongoing development efforts.
Employee Metrics
DBV Technologies had an average of 108 employees during the nine months ended September 30, 2024, compared to 97 employees in the same period in 2023, reflecting the company’s growth and focus on expanding its operational capabilities.
| Employee Metric | 2024 | 2023 |
|---|---|---|
| Average Number of Employees | 108 | 97 |
How DBV Technologies S.A. (DBVT) Makes Money
Revenue Streams
DBV Technologies S.A. primarily generates revenue through the French research tax credit (Crédit d’Impôt Recherche, or “CIR”). Following the termination of its Collaboration Agreement with NESTEC on October 30, 2023, the company no longer has revenue from collaborations and now relies solely on this tax credit.
| Revenue Source | Amount (2024) | Amount (2023) | % Change |
|---|---|---|---|
| French Research Tax Credit | $3.64 million | $4.98 million | -26.9% |
| Other Income | $0 | $1.87 million | -100% |
| Total Operating Income | $3.64 million | $6.85 million | -46.9% |
Operating Expenses
DBV Technologies incurs substantial operating expenses, primarily in research and development (R&D), sales and marketing, and general and administrative expenses.
| Expense Category | Amount (2024) | Amount (2023) | % Change |
|---|---|---|---|
| Research and Development Expenses | $(70.44) million | $(47.45) million | +48.5% |
| Sales and Marketing Expenses | $(2.26) million | $(1.61) million | +40.3% |
| General and Administrative Expenses | $(23.67) million | $(22.30) million | +6.1% |
| Total Operating Expenses | $(96.37) million | $(71.37) million | +35.0% |
Net Loss
The company's net loss has significantly increased, reflecting its high operating expenses relative to its revenue.
| Period | Net Loss (2024) | Net Loss (2023) | % Change |
|---|---|---|---|
| Nine Months Ended September 30 | $(90.90) million | $(61.54) million | +47.7% |
| Loss per Share | $(0.95) | $(0.65) | +46.2% |
Cash Position and Financial Health
As of September 30, 2024, DBV Technologies had $46.4 million in cash and cash equivalents, down from $141.4 million on December 31, 2023. This substantial decrease raises concerns about the company's ability to fund its operations going forward.
| Financial Metrics | Amount (2024) | Amount (2023) |
|---|---|---|
| Cash and Cash Equivalents | $46.4 million | $141.4 million |
| Net Cash Used in Operating Activities | $(92.22) million | $(66.00) million |
| Net Cash Flows from Financing Activities | $(0.1) million | $7.0 million |
Future Funding Requirements
DBV Technologies has indicated that its current cash position will not support its operations beyond the first quarter of 2025. The company anticipates needing additional financing through various means such as public or private equity, collaborations, or other forms of financing.
Clinical Development Programs
The company is focused on advancing its clinical programs, particularly for its product candidate Viaskin Peanut, which aims to treat peanut allergies. The total expenses related to clinical studies are projected to be significant, with ongoing trials costing approximately $162.4 million as of September 30, 2024.
| Clinical Study Expenses | Amount (2024) | Amount (2023) |
|---|---|---|
| Total Clinical Study Expenses | $162.4 million | $114.4 million |
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Resources:
- DBV Technologies S.A. (DBVT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of DBV Technologies S.A. (DBVT)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View DBV Technologies S.A. (DBVT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.