(Boursier.com) — The turnover ofinventive in 2022 amounted to 12.2 million euros, (4.2 ME in 2021). The revenues recorded in 2022 are mainly related to the company’s development agreement with CTTQ, signed on September 21, 2022, and the revenues recorded in 2021 were mainly made up of an amount of 4 ME following the launch by AbbVie of the Phase IIb clinical study with cedirogant. As previously reported, this trial with cedirogant and the partnership with AbbVie have since been discontinued.
Cash position
As of December 31, 2022, Inventiva recorded 86.7 ME of cash and cash equivalents and 1 ME of short-term deposits (61.2 ME and 11.4 ME respectively as of September 30, 2022).
Cash and cash equivalents at the end of the year included the initial payment of €12.8 million (including €1.3 million in withholding taxes, i.e. net proceeds of €11.5 million) received on November 4, 2022 from from Chia Tai Tianqing Pharmaceutical Group, Co., LTD (CTTQ), a subsidiary of Sino Biopharm, under the previously announced September 21, 2022 license and collaboration agreement.
Cash and cash equivalents at the end of the year also included the €25 million tranche received on December 8, 2022 under the previously announced unsecured financing agreement signed with the European Investment Bank (EIB) on December 16, 2022. May 2022, the raising of €9.3 million in gross proceeds (net proceeds of €8.8 million) on June 15, 2022 under the At-The-Market (ATM) program, and the signing of 3 contracts loans with a syndicate of French banks for a total amount of 5.3 ME. One of the loans was concluded in the form of a loan guaranteed by the State (PGE) with Bpifrance and the two others in the form of Participative Recovery Loans concluded with Crédit Agricole Champagne-Bourgogne and Société Générale.
Research and development (R&D) expenses for the 4th quarter of 2022 were up, in line with the increase recorded during the first three quarters of 2022. They amounted to 60.5 ME for the whole of the year 2022 (48.5 ME in 2021).
Next steps
– Publication of results from the investigator-initiated clinical study evaluating lanifibranor in patients with non-alcoholic fatty liver disease (“NAFLD”) and T2D – planned for the first quarter of 2023
– Publication of the results of the LEGEND Phase IIa clinical study combining lanifibranor and empagliflozin in patients with NASH and T2DM – planned for the second half of 2023
– Last patient first visit of the NATIV3 Phase III clinical study evaluating lanifibranor in NASH – scheduled for the second half of 2023.
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