MTVA · MetaVia Inc.

MetaVia Inc. reported its first quarter 2026 financial results, highlighting a net loss of $3.8 million, or $0.79 per share, compared to a net loss of $3.7 million, or $3.93 per share, in the same period last year. The increase in net loss was primarily driven by higher general and administrative expenses, partially offset by lower research and development costs. R&D expenses decreased to $2.1 million from $2.3 million, mainly due to reduced direct R&D costs related to vanoglipel and lower employee compensation. G&A expenses rose to $1.9 million from $1.6 million, attributed to higher consulting, franchise tax, and legal fees. Total operating expenses were $4.0 million, up slightly from $3.9 million. The company ended the quarter with $13.7 million in cash and cash equivalents, compared to $10.2 million at year-end 2025, and expects this to fund operations into the fourth quarter of 2026. Operationally, MetaVia achieved key milestones: dosing the first patient in Part 3 of the Phase 1 trial for DA-1726, evaluating higher doses with optimized titration, with data expected in Q4 2026. The 48 mg cohort previously demonstrated 9.1% weight loss, improved glucose control, and direct liver benefit. The company is also preparing for an end-of-Phase 2 meeting with the FDA for vanoglipel in MASH. Management expressed confidence in DA-1726's potential best-in-class profile. The January 2026 public offering provided gross proceeds of approximately $9.3 million to support these efforts.