DBV Technologies Reports $27.1 Million Net Loss in Q1 2025, Secures $306.9 Million Financing

DBV Technologies S.A. reported a net loss of $27.1 million for the first quarter of 2025, a slight improvement from the $27.3 million loss recorded in the same period of 2024. The company’s operating income for the quarter was $753,000, primarily derived from research tax credits, which decreased by $0.7 million compared to the previous year due to a shift in study activities to North America, making them ineligible for the French tax credit. Total operating expenses for the quarter were $27.4 million, down from $30.0 million in the prior year, reflecting a reduction in general and administrative costs and sales and marketing expenses.

In terms of financial position, DBV Technologies had cash and cash equivalents of $13.0 million as of March 31, 2025, a decrease from $32.5 million at the end of 2024. The company has recently secured financing of up to $306.9 million, which includes gross proceeds of $125.5 million received on April 7, 2025. This funding is intended to support the advancement of the Viaskin Peanut patch through the Biologics License Application (BLA) submission and potential U.S. commercial launch. The company estimates that its current cash reserves, combined with the recent financing, will be sufficient to fund operations into June 2026.

DBV Technologies is focused on the development of its Viaskin Peanut patch, an epicutaneous immunotherapy for children with peanut allergies. The company is currently conducting a Phase 3 clinical trial, VITESSE, for children aged four to seven, with topline results expected in the fourth quarter of 2025. Additionally, the company plans to initiate a supplemental safety study, COMFORT Toddlers, for children aged one to three in the second quarter of 2025, which is part of the regulatory pathway for a BLA submission under the FDA's Accelerated Approval program.

Operationally, DBV Technologies maintained an average employee count of 106 during the first quarter of 2025, a slight increase from 105 in the same period last year. The company continues to focus on its research and development efforts, with total R&D expenses remaining stable at approximately $21.5 million. The company’s strategic initiatives include ongoing discussions with regulatory agencies to ensure compliance and alignment on study designs and safety data requirements.

Looking ahead, DBV Technologies remains optimistic about the potential approval and commercialization of the Viaskin Peanut patch. The company is actively preparing for the BLA submission in the first half of 2026, which could accelerate the product launch by approximately one year, contingent upon FDA approval. However, the company acknowledges the need for additional capital to support its ongoing operations and development programs, emphasizing the importance of securing favorable financing conditions in a potentially volatile market environment.