Full Press Release Details
DBV Technologies Reports Full Year 2025 Financial Results and Business Update
Technologies (Euronext: DBV - ISIN: FR0010417345 - Nasdaq Capital Market: DBVT) (the "Company"), a late-stage biopharmaceutical company, today reported financial results for the full year 2025. The consolidated
financial statements are prepared under U.S. Generally Acceptable Accounting Principles ("U.S. GAAP") and International Financial Reporting Standards ("IFRS") for the purpose of Form
10-K and French "Document d'Enregistrement Universel" containing the Annual Financial Report - were approved by the Board of Directors on March 26, 2026.
"We entered 2025 with a clear set of priorities - strengthening our financial position, advancing our clinical development program (including
completing VITESSE and initiating COMFORT Toddlers), and preparing for the BLA submission and commercialization of the VIASKIN Peanut Patch in the United States, if
approved," said Daniel Tass , Chief Executive Officer of DBV Technologies. "I am pleased with our progress to date in enhancing DBV's capabilities and building a company ready for launch. Our focus on bringing
the VIASKIN Peanut Patch to peanut-allergic children ages 1-7 years remains unwavering."
2025 Operational Highlights
Scientific Engagement
Leadership Expansion
Anticipated 2026 Events
Financial Highlights for the Full Year 2025
2025 Financial Highlights are presented under both U.S. GAAP and IFRS. Comments are provided on a U.S. GAAP basis. Differences between U.S. GAAP and IFRS
consolidated financial statements result mainly from the application of lease accounting standards.
Financial Performance
For the year ended December 31,
2025, operating income totaled $5.6 million, increasing from $4.2 million for the year ended December 31, 2024, driven by higher eligible activities to the French Research Tax Credit (cr dit d'imp t recherche).
Research and Development Expenses
increased by $27.3 million for the year ended December 31, 2025, compared to 2024 driven by:
Selling, General and Administrative Expenses
SG&A Expenses increased by $4.6 million for the year ended December 31, 2025, compared to the year ended December 31, 2024
primarily from Market Research activities and additional roles strengthening operational capabilities towards launch of the VIASKIN Peanut Patch for children aged 4 to 7 years in the U.S., if
Net loss was $147.0 million
for the year ended December 31, 2025, compared to $113.9 million for the year ended December 31, 2024. Net loss per share (based on the weighted average number of shares outstanding over the period) was $1.05 and
$1.17 for the year ended December 31, 2025 and 2024, respectively.
Cash Position and Liquidity
Considering the supplemental gross proceeds received from completed ABSA
and BS warrants exercises ($94 million) in January 2026, together with the Company's existing cash and cash equivalents as of December 31, 2025, and based on current operations, plans, and assumptions, management
has determined that its cash and cash equivalents, are sufficient to fund its operations into the second quarter of 2027.
The going concern assessment is
based on the Company's current forecasts and exclude any additional expenditure related to other programs than the VIASKIN Peanut Patch or resulting from the potential in licensing or
acquisition of additional product candidates or technologies, or any associated development the Company may pursue. Assumptions used in the going concern assessment may differ from actual results, and the Company may end up using its resources
sooner than anticipated and seek additional resources to execute the corporate strategy either through new or existing financing strategies.
Audited Consolidated Statement of Operations (In millions of USD)
| US GAAP December 31, | IFRS December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating income | 5.6 | 4.2 | 5.6 | 4.2 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Research and development expenses | (116.7 | ) | (89.3 | ) | (116.6 | ) | (89.2 | ) | ||||||||
| Sales and marketing expenses | (3.2 | ) | (2.7 | ) | (3.2 | ) | (2.7 | ) | ||||||||
| General and administrative expenses | (32.8 | ) | (28.7 | ) | (32.8 | ) | (28.7 | ) | ||||||||
| Total Operating expenses | (152.7 | ) | (120.7 | ) | (152.6 | ) | (120.6 | ) | ||||||||
| Loss from operations | (147.1 | ) | (116.6 | ) | (147.0 | ) | (116.5 | ) | ||||||||
| Financial income (expense) | 0.6 | 2.7 | 0.3 | 2.4 | ||||||||||||
| Loss before taxes | (146.5 | ) | (113.8 | ) | (146.6 | ) | (114.1 | ) | ||||||||
| Income tax | (0.5 | ) | (0.1 | ) | (0.5 | ) | (0.1 | ) | ||||||||
| Net loss | (147.0 | ) | (113.9 | ) | (147.1 | ) | (114.1 | ) | ||||||||
| Basic/diluted Net loss per share attributable to shareholders | (1.05 | ) | (1.17 | ) | (1.05 | ) | (1.18 | ) |
About DBV Technologies
DBV Technologies is a late-stage biopharmaceutical company developing treatment options for food allergies and other immunologic conditions with significant
unmet medical need. DBV Technologies is currently focused on investigating the use of its proprietary VIASKIN patch technology to address food allergies, which are caused by a
hypersensitive immune reaction and characterized by a range of symptoms varying in severity from mild to life-threatening anaphylaxis. Millions of people live with food allergies, including young children. Through epicutaneous immunotherapy (EPIT),
the VIASKIN patch is designed to introduce microgram amounts of a biologically active compound to the immune system through intact skin. EPIT is a new class of non-invasive treatment that seeks to modify an individual's underlying allergy by re-educating the immune system to become desensitized to allergen by leveraging the
skin's immune tolerizing properties. DBV Technologies is committed to transforming the care of food allergic people. The Company's food allergy programs include ongoing clinical trials of the VIASKIN Peanut Patch in peanut allergic
toddlers (1 through 3 years of age) and children (4 through 7 years of age).
DBV Technologies is headquartered in Ch tillon, France, with North
American operations in Warren, NJ. The Company's ordinary shares are traded on segment B of Euronext Paris (DBV, ISIN code: FR0010417345) and the Company's ADSs (each representing five ordinary shares) are traded on the Nasdaq Capital
Market (DBVT - CUSIP: 23306J309).
For more information, please visit www.dbvtechnologies.com and engage with us on X (formerly
Twitter) and LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements, including, without limitation, statements regarding the Company's financial condition, forecast
of its cash runway, the therapeutic potential of Viaskin patch, designs of DBV's anticipated clinical trials, DBV's planned regulatory and clinical efforts including timing and
results of communications with regulatory agencies, clinical trial data releases and publications, the potential regulatory submissions, regulatory approval, launch and commercialization of the Company's product candidates, the ability of any
of DBV's product candidates, if approved, to improve the lives of patients with food allergies, and the Company's business strategy and goals. These forward-looking statements and estimates are not promises or guarantees and involve
substantial risks and uncertainties. At this stage, the Company'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, and the Company's ability to successfully execute on its budget discipline measures. 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
Autorit des March s 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, 2025, filed with the SEC on March 26, 2026, 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
VIASKIN is a registered trademark of DBV Technologies.