Earnings ·
Inventiva reports €69.5M net loss in H1 2026, with cash runway through Q2 2027 after refinancing
IVAInventiva S.A.
Inventiva S.A. reported unaudited first-half 2026 financial results on September 28, 2026, recording a net loss of €69.5 million compared to €175.9 million in the prior year period. The company generated €20,000 in revenues and incurred €46.2 million in research and development expenses. Inventiva completed a comprehensive refinancing transaction on June 2, 2026, which included an equity offering of 27,272,727 ADSs at $4.40 per share for net proceeds of $110.9 million (€95.3 million), and the issuance of Tranches A and B of senior secured convertible bonds totaling €75.0 million in gross proceeds. The company also repaid its existing European Investment Bank loan of €62.2 million and repurchased warrants for €50.0 million. As of June 30, 2026, cash and cash equivalents stood at €166.1 million with €67.8 million in short-term deposits, providing a cash runway through the second quarter of 2027. The company expects topline results from its pivotal Phase III NATiV3 clinical trial for lanifibranor in MASH in the fourth quarter of 2026. Inventiva is a clinical-stage biopharmaceutical company focused on developing oral small molecule therapies for metabolic dysfunction-associated steatohepatitis.