MetaVia Inc.

Listed Company

MTVACIK 0001638287NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-13.00M

Total Assets

$11.12M

Equity

$5.33M

Shares Out

5.09M

Op. Cash Flow

$-15.70M

Business

MetaVia Inc. is a clinical-stage biotechnology company focused on discovering and developing novel pharmaceuticals to treat cardiometabolic diseases, primarily metabolic dysfunction‑associated steatohepatitis (MASH) and obesity. Its main product candidates are DA-1241, an oral GPR119 agonist being evaluated for MASH and type 2 diabetes, and DA-1726, a once‑weekly oxyntomodulin analogue dual GLP‑1/GCGR agonist for obesity, alongside several legacy programs pursued for out‑licensing. The company organizes operations around research and development, preclinical and clinical development, and licensing/partnering activities. It conducts clinical trials primarily in the U.S., uses third‑party manufacturing partners, and pursues global licensing and commercialization channels.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	7	22	—	—	—
General and administrative	7	7	7	9	9
Total operating expenses	14	29	—	—	—
Loss from operations	−14	−29	−16	−20	−15
Gain from change in fair value of warrant liabilities	225,000	297,000	3	8	—
Interest income, net	510,000	920,000	461,000	—	14,000
Total other income	735,000	1	3	6	14,000
Loss before income taxes	−13	−28	−12	−14	−15
Provision for income taxes	0	0	0	0	0
Net loss	−13	−28	−12	−14	−15
Loss per share of common stock, basic (in dollars per share)	−7.35	−39.13	−2.46	−43.42	−19.81
Loss per share of common stock, diluted (in dollars per share)	−7.35	−39.13	−2.46	−43.42	−19.81
Weighted average shares of common stock, basic (in shares)	2	705,193	5	321,703	771,422
Weighted average shares of common stock, diluted (in shares)	2	705,193	5	321,703	771,422

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	10	16	22	33	16
Prepaid expenses and other current assets	597,000	55,000	77,000	168,000	—
Total current assets	11	16	23	34	17
Property and equipment, net	17,000	34,000	46,000	2,000	110,000
Right-of-use asset	210,000	133,000	202,000	—	105,000
Other assets	21,000	21,000	21,000	—	—
Total assets	11	16	23	34	17
Accounts payable	1	4	821,000	708,000	830,000
Clinical trial accrued liabilities	79,000	2	3	—	—
Accrued expenses and other current liabilities	993,000	785,000	592,000	—	—
Warrant liabilities	136,000	361,000	658,000	11	—
Related party payable	3	1	789,000	—	—
Lease liability, short-term	68,000	78,000	67,000	—	26,000
Total current liabilities	6	8	6	12	2
Lease liability, long-term	142,000	58,000	136,000	—	45,000
Total liabilities	6	8	6	12	2
Commitments and contingencies (Note 6)	—	—	—	—	—
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized and no shares issued or outstanding as of December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value per share, 100,000,000 shares authorized as of December 31, 2025 and 2024; 2,308,294 and 785,194 shares issued and outstanding as of December 31, 2025 and 2024, respectively	2,000	1,000	5,000	25,000	1,000
Additional paid-in capital	154	144	125	118	96
Accumulated deficit	−149	−136	−108	−96	−82
Total stockholders' equity	5	8	17	22	15
Total liabilities and stockholders' equity	11	16	23	34	17

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	411,000	538,000	222,000	854,000	662,000
Non-cash lease (credit) charge	−3,000	4,000	—	—	—
Depreciation	19,000	20,000	6,000	20,000	48,000
Prepaid expenses and other assets	−542,000	20,000	70,000	64,000	—
Accounts payable	−3	3	113,000	−202,000	−1
Accrued and other liabilities	431,000	−461,000	4	−1	182,000
Net cash used in operating activities	−16	−25	−11	−12	−15
Purchases of property and equipment	−2,000	−8,000	−50,000	—	−3,000
Net cash used in investing activities	−2,000	−8,000	−50,000	8,000	−586,000
Proceeds from the issuance of common stock and warrants under the securities purchase agreements from a private placement offering	10	20	—	—	—
Proceeds from exercise of warrants	6,000	1,000	—	—	—
Payment of employee withholding taxes related to shares withheld from issuance for vested restricted stock units	−12,000	−48,000	—	—	—
Net cash provided by financing activities	10	18	−80,000	29	22
Net decrease in cash and cash equivalents	−6	−6	−11	17	6
Fair value of warrants issued to placement agent	—	309,000	—	—	—
Right-of-use assets obtained in exchange for operating lease liabilities	152,000	—	223,000	—	—

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