DBV Technologies Reports Q2 2025 Financial Results with Increased Net Loss and Improved Cash Reserves

DBV Technologies S.A. reported its financial results for the second quarter of 2025, revealing a net loss of $41.9 million, compared to a loss of $33.1 million in the same period last year. For the first half of 2025, the company recorded a net loss of $69.0 million, up from $60.5 million in the first half of 2024. Operating income for the second quarter was $1.5 million, primarily from research tax credits, which increased to $1.5 million from $1.2 million year-over-year. The company's total operating expenses for the quarter rose to $42.6 million, compared to $35.0 million in the prior year, driven largely by increased research and development costs.

The company’s cash and cash equivalents significantly improved, totaling $103.2 million as of June 30, 2025, compared to $32.5 million at the end of 2024. This increase was largely attributed to a successful financing round completed in April 2025, which raised gross proceeds of $125.5 million. DBV Technologies anticipates that its current cash reserves will be sufficient to fund operations into the second quarter of 2026, although there remains substantial doubt regarding its ability to continue as a going concern without additional financing.

In terms of operational developments, DBV Technologies is advancing its Viaskin Peanut patch, which is under evaluation for treating peanut allergies in children. The company is conducting two pivotal Phase 3 studies: the VITESSE study for children aged 4-7 and the COMFORT Toddlers study for children aged 1-3. The VITESSE study has completed subject screening, with topline results expected in the fourth quarter of 2025. The COMFORT Toddlers study, which aims to gather additional safety data, commenced subject screening in June 2025.

The company has also made strategic adjustments, including a reduction in sales and marketing expenses, which fell to $0.7 million in the first half of 2025 from $1.7 million in the same period last year. This reduction reflects a shift in focus towards clinical development activities. Additionally, DBV Technologies has increased its employee headcount to support ongoing development efforts, averaging 109 employees in the first half of 2025, up from 106 in the same period of 2024.

Looking ahead, DBV Technologies plans to submit a Biologics License Application (BLA) for the Viaskin Peanut patch in the first half of 2026, contingent upon successful completion of the ongoing studies. The company is also exploring additional financing options to support its operations and product development, as it continues to navigate the complexities of regulatory approvals and market entry for its innovative immunotherapy solutions.