DBV Technologies S.A. (DBVT) stock plummeted 21.71% in the pre-market trading session at the price of $1.37 after reporting its earnings report for the full year 2021.
DBVT is producing Viaskin, proprietary technology with extended applications in immunotherapy. Viaskin operates on EPIT to develop biologically vibrant compounds in the immune system.
DBVT Year 2021 Financial Highlights
On 3rd March 2022, DBVT published its financial results for the year 2021. The company has also presented its corporate updates. DBVT has a net loss per share of US$(1.78) for the year 2021. Net loss totaled US$(97.8) M for the year 2021, compared to US$(159.6) M for the year 2020.
On 31st December 2021, DBVT has cash and cash equivalents of US$77.3M. Cash and cash equivalents totaled US$196.4M on 31st December 2020. Cash flows used in investments were US$(0.4) M in 2021 versus US$(2.9) M the prior year. For the year ended 31st December 2021, the company has an operating income of US$5.7M. Operating income was $11.3M for the year ended 31st December 2020.
CEO of DBVT, Daniel Tasse, commented that starting Phase-III clinical trial with the mVP is their foremost priority. They are satisfied with their fruitful conversations with U.S. FDA. In addition to these meetings, DBVT keeps improving the efficiency of its spending. As per their recent observations, they have expanded their cash runway into Q1 of 2023.
They hope that this cash position along with reduced G&A costs will provide them adequate time to achieve alignment with FDA for the mVP clinical trial. DBVT has always been strategic in growing its EPIT channel. They expect to realize the full potential of Viaskin for both patients and caretakers, Daniel added.
DBVT Participated in AAAAI Meeting
Earlier on 24th February 2022, DBVT participated at AAAAI 2022 Annual Scientific conference. The company presented and discussed the impact of allergy specialty care on kids having peanut allergies. Additionally, safety data from Phase-III clinical study of epicutaneous immuno-therapy had published.