DBV Technologies: net loss widened in the 1st quarter

(CercleFinance.com) – DBV Technologies publishes a net loss of $27.3 million for the first three months of 2024, compared to $20.6 million as of March 31, 2023, its operating expenses having increased with R&D expenses linked to phase III clinical trial VITESSE.

The biopharmaceutical company, specializing in food allergies, adds that its operational revenues decreased to 1.4 million dollars, compared to 2.2 million at the end of March 2023, due to the termination of the contract with Nestlé Health Science in October 2023.

Cash and cash equivalents stood at $101.5 million at the end of March 2024, a net decrease of $39.9 million over three months mainly due to operational activities, including the recruitment of patients for the VITESSE trial. .

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