DBV Technologies: net loss widens in Q1

(CercleFinance.com) - DBV Technologies reports a net loss of $27.
3 million for the first three months of 2024, compared with $20.6 million at March 31, 2023, as its operating expenses increased with R&D expenses related to the VITESSE Phase III clinical trial.

The biopharmaceutical company, which specializes in food allergies, adds that its operating revenues decreased to $1.4 million, compared with $2.2 million at the end of March 2023, due to the termination of the contract with Nestlé Health Science in October 2023.

Cash and cash equivalents stood at $101.5 million at the end of March 2024, a net decrease of $39.9 million over three months, mainly due to operational activities, including patient recruitment for the VITESSE trial.

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