Inventiva Reports Q3 2023 Financial Information; Cash And Cash Equivalents At €43.8M, Short-Term Deposits At €0.03M, And Long-Term Deposit At €5M As Of September 30, 2023; Revenue For First 9 Months Amounted To €1.9M
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Inventiva reported its financial results for Q3 2023, with cash and equivalents at €43.8M, short-term deposits at €0.03M, and long-term deposits at €5M as of September 30, 2023. Revenue for the first nine months was €1.9M, a significant increase from €0.1M in the same period in 2022. The company's cash runway is expected to extend to Q3 2024, subject to conditions of the EIB loan's second tranche. Inventiva's R&D expenses increased by 86% due to clinical trials for NASH treatment. The company also entered into a licensing agreement with Hepalys Pharma for lanifibranor in Japan and South Korea, receiving a $10M upfront payment and potential for $231M in milestones plus royalties.
November 21, 2023 | 9:02 pm
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Inventiva reported increased revenues and a strong cash position in Q3 2023, with significant R&D investments in NASH clinical trials. The licensing deal with Hepalys Pharma for lanifibranor adds immediate cash and future milestone potential.
The positive financial results, increased revenue, and extended cash runway are likely to be viewed favorably by investors. The licensing agreement with Hepalys Pharma not only provides immediate cash inflow but also opens up future revenue streams through milestones and royalties, which could positively impact the stock price in the short term.
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