(News Bulletin 247) – The biopharmaceutical company DBV Technologies rose on Friday on the Paris Stock Exchange following the presentation of its annual results, marked by a strengthening of its financial situation.
DBV reported last night that its cash and cash equivalents were $209.2 million as of December 31, 2022, compared with $77.3 million as of December 31, 2021.
The group explains this improvement by the 194.1 million dollars raised as part of its ATM financing, set up in May 2022, which was followed by a private placement of shares in June.
For analysts at Invest Securities, which estimates the company’s cash burn at around $70 million per year, the current cash position should give it financial visibility until the second half of 2024. .
Invest stresses, however, that it anticipates an increase in R&D-related expenses due to the acceleration of the ongoing pivotal phase III clinical trial evaluating the Viaskin Peanut patch in peanut allergy.
After an initial negative feedback in 2020, the company has indeed succeeded in obtaining the agreement of the American FDA for the relaunch of this study, the recruitment of patients for which began at the end of 2022.
In fiscal 2022, DBV reduced its net loss to $96.3 million from a net loss of $97.8 million for the fiscal year ended December 31, 2021.
After an opening up almost 3%, the title showed around 9:40 a gain of 1.4%.
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