DBV Technologies Reports September 30, 2020 Cash Position
30 Ottobre 2020 - 7:30AM
DBV Technologies Reports September 30, 2020 Cash Position
Montrouge, France, October 30, 2020
DBV Technologies Reports September 30, 2020
Cash Position
DBV Technologies (Euronext: DBV – ISIN:
FR0010417345 – Nasdaq Stock Market: DBVT), a clinical-stage
biopharmaceutical company, today reported its cash and cash
equivalents and number of outstanding shares as of September 30,
2020.
Cash and cash equivalents:Cash
and cash equivalents as of September 30, 2020, were €189.1 million,
compared to €225.9 million as of June 30, 2020.
Excluding expenses related to the Company’s
ongoing global restructuring plan, DBV’s average monthly cash burn
decreased in the third quarter of 2020 as compared to the second
quarter of 2020. DBV expects continued deceleration in the average
monthly cash burn through the second half of 2021. The Company
expects full implementation of the organization-wide cost reduction
measures to be completed by the second half of 2021, at which point
DBV forecasts it will have reduced its average monthly cash burn by
40-50% as compared to the first half of 2020.
“In the third quarter of this year, DBV advanced
the global restructuring plan announced at the end of June,” said
Daniel Tassé, Chief Executive Officer of DBV Technologies. “The
plan enables us to maintain operational latitude to progress the
clinical development and regulatory review of investigational
Viaskin™ Peanut. Based on our current assumptions regarding the
progress of our regulatory dossier and the implementation of our
plan, these efforts should significantly extend our cash runway to
the second half of 2022.”
Number of outstanding and fully diluted
shares:As of September 30, 2020, DBV's number of
outstanding shares was 54,927,187 ordinary shares and on a fully
diluted basis, the number of shares was 57,687,615.1
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 offices in Bagneux, France, and North American
operations in Summit, NJ and New York, NY. 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 the potential benefits of the
proposed restructuring of the Company’s business and potential cost
savings, the Company’s forecast of its cash runway and reduced
monthly cash burn, the timelines for the Company’s ongoing clinical
trials, including the ongoing impact of the COVID-19 pandemic, the
commercial potential of Viaskin™ Peanut as a treatment for
peanut-allergic children, the conduct and timing of the Company’s
clinical trials of Viaskin™ Peanut and the Company’s research,
development and regulatory plans for its product candidates and
preclinical pipeline, including the timing of the Company’s planned
interactions with the FDA and the progression of regulatory review
of investigational Viaskin™ Peanut. These forward-looking
statements and estimates are not promises or guarantees and involve
substantial risks and uncertainties. At this stage, the products of
the Company 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 the Company’s ability to successfully
execute on its restructuring plans. Furthermore, the timing of any
action by any regulatory entity cannot be guaranteed, particularly
in light of the COVID-19 pandemic. A further list and description
of these risks, uncertainties and other risks can be found in the
Company’s regulatory filings with the French Autorité des Marchés
Financiers, the Company’s Securities and Exchange Commission
filings and reports, including in the Company’s Annual Report on
Form 20-F for the year ended December 31, 2019, and future filings
and reports by the Company. 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 Fully diluted share capital represents all issued and
outstanding shares, as well as all potential shares which may be
issued upon exercise of outstanding employee warrants, employee
performance shares and share options and nonemployee warrants, as
approved by DBV Technologies shareholders and granted by the Board
of Directors.
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