Inventiva Presents Its Financial Position for the Third Quarter of 2025

Financial Performance and Cash Flow Details

As of September 30, 2025, Inventiva's cash and cash equivalents stood at 97.6 million euros, up from 96.6 million euros on December 31, 2024. Net cash flows from operating activities reached -76.3 million euros for the first nine months of 2025, compared to -63.7 million euros for the same period the previous year, marking a 20% increase, primarily due to changes in working capital requirements. Research and development expenditures slightly decreased by 11%, amounting to -64.6 million euros. Investment activities generated net negative flows of -25 million euros, a significant change from the 8.9 million euros generated in 2024, mainly related to short-term deposits.

Capital Raising Activities in the United States

In November 2025, Inventiva conducted a public offering in the United States, issuing 44,805,193 American Depositary Shares, for a total gross proceeds of approximately 149 million euros (139.3 million euros net). The group estimates that its cash, augmented by the net proceeds from the offering, will finance its operations until the end of the first quarter of 2027. If the warrants for the third tranche of their structured financing were fully exercised, it could extend their financing horizon until the middle of the third quarter of 2027.

Revenue and Clinical Development Updates

Inventiva recorded a revenue of 4.5 million euros for the first nine months of 2025. These revenues primarily came from a milestone payment of 10 million dollars made with Chia Tai Tianqing Pharmaceutical Group, and other holdings under a licensing agreement with the same group. The company continues to evaluate lanifibranor in a phase 3 clinical study for the treatment of steatohepatitis associated with metabolic dysfunction. Inventiva plans to publish its annual financial results for 2025 on February 16, 2026.