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Share Name | Share Symbol | Market | Type |
---|---|---|---|
DBV Technologies | EU:DBV | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.022 | -1.81% | 1.196 | 1.194 | 1.218 | 1.22 | 1.194 | 1.22 | 47,337 | 02:01:49 |
Montrouge, France, May 3, 2021
DBV Technologies Reports Q1 2021 Financial Results
DBV Technologies S.A. (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today reported financial results for the first quarter of 2021. The quarterly financial statements were approved by the Board of Directors on April 30, 2021.
“I am pleased with DBV’s overall continued cost reduction measures through the first quarter of 2021,” said Daniel Tasse, Chief Executive Officer, DBV Technologies. “We remain diligent about our spend and confident that our cash on hand as of March 31, 2021 will support our operations until the second half of 2022. We continue to focus our attention on advancing Viaskin Peanut’s regulatory dossier and developing our pipeline with the goal of improving the lives of patients with food allergies.”
Q1 Financial Highlights1
The Company will not host a conference call to discuss its first quarter 2021 financial results. It intends to host a conference call to discuss its half-year 2021 financial results in August. U.S. GAAP CONDENSED STATEMENT OF CONSOLIDATED FINANCIAL POSITION (unaudited)($ in thousands)
U.S GAAP | ||||
March 31, | December 31, | |||
2021 | 2020 | |||
Assets | $ | 221,405 | $ | 272,246 |
of which cash and cash equivalents | 152,459 | 196,352 | ||
Liabilities | 52,229 | 66,754 | ||
Shareholders’ equity | $ | 169,176 | $ | 205,491 |
of which net result | (29,449) | (159,555) |
U.S. GAAP CONDENSED STATEMENT OF CONSOLIDATED OPERATIONS AND COMPREHENSIVE LOSS (unaudited)($ in thousands, except per share data)
U.S GAAP | ||||
Three Months Ended March 31, | ||||
2021 | 2020 | |||
Operating income | $ | 2,941 | $ | 4,720 |
Operating expenses : | ||||
Research and development expenses | (22,164) | (27,532) | ||
Sales & marketing expenses | (729) | (7,297) | ||
General & administrative expenses | (9,683) | (11,113) | ||
Restructuring expenses | - | - | ||
Total Operating expenses | (32,575) | (45,942) | ||
Financial (Expenses) | 215 | 309 | ||
Income tax | (30) | - | ||
Net (loss) | $ | (29,449) | $ | (40,913) |
Comprehensive (loss) | $ | (38,279) | $ | (46,788) |
Basic/diluted net loss per share attributable to shareholders | $ | (0.54) | $ | (0.79) |
U.S. GAAP CONDENSED STATEMENT OF CONSOLIDATED CASH FLOW (unaudited)($ in thousands)
U.S GAAP | ||||
Three Months Ended March 31, | ||||
2021 | 2020 | |||
Net cash flow used in operating activities | $ | (36,204) | $ | (49,683) |
Net cash flows used in investing activities | (185) | (930) | ||
Net cash flows provided by financing activities | 440 | 150,611 | ||
Effect of exchange rate changes on cash and cash equivalents | (7,944) | (5,811) | ||
Net (decrease) / increase in cash and cash equivalents | (43,893) | 94,187 | ||
Net cash and cash equivalents at the beginning of the period | 196,352 | 193,255 | ||
Net cash and cash equivalents at the end of the period | $ | 152,549 | $ | 287,442 |
About DBV TechnologiesDBV Technologies is developing Viaskin™, an investigational proprietary technology platform with broad potential applications in immunotherapy. Viaskin is based on epicutaneous immunotherapy, or EPIT™, DBV’s method of delivering biologically active compounds to the immune system through intact skin. With this new class of non-invasive product candidates, the Company is dedicated to safely transforming the care of food allergic patients. DBV’s food allergies programs include ongoing clinical trials of Viaskin Peanut. DBV Technologies has global headquarters in Montrouge, France, and North American operations in Summit, NJ. The Company’s ordinary shares are traded on segment B of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345), part of the SBF120 index, and the Company’s ADSs (each representing one-half of one ordinary share) are traded on the Nasdaq Global Select Market (Ticker: DBVT).
Forward Looking StatementsThis press release may contain forward-looking statements and estimates, including statements regarding DBV’s forecast of its cash runway, DBV’s anticipated cost reduction measures, DBV’s planned regulatory efforts, and the ability of any of DBV’s product candidates, if approved, to improve the lives of patients with food allergies.. These forward-looking statements and estimates are not promises or guarantees and involve substantial risks and uncertainties. At this stage, DBV’s product candidates have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, including the impact of the COVID-19 pandemic, and DBV’s ability to successfully execute on its restructuring plans. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in DBV’s regulatory filings with the French Autorité des Marchés Financiers (“AMF”), DBV’s filings and reports with the U.S. Securities and Exchange Commission (“SEC”), including in DBV’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 17, 2021, and future filings and reports made with the AMF and SEC by DBV. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release.
Investor Contact Anne PollakDBV Technologies+1 857-529-2363anne.pollak@dbv-technologies.com
Media ContactAngela MarcucciDBV Technologies+1 646-842-2393angela.marcucci@dbv-technologies.com
1 The Company’s unaudited consolidated financial statements for the quarter ended March 31, 2021 are prepared in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP").
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