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MetaVia Inc. (MTVA-3.96%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's focus on developing pharmaceuticals for cardiometabolic diseases, with two primary programs targeting metabolic dysfunction-associated steatohepatitis (MASH) and obesity.
MetaVia's lead product candidate, DA-1241, is a GPR119 agonist aimed at treating MASH and Type 2 Diabetes Mellitus (T2DM). The company completed a Phase 2a clinical trial for DA-1241 in November 2024 and announced positive top-line results in December 2024.
DA-1726, another product candidate, is a GLP-1 receptor and glucagon receptor dual agonist for obesity treatment. A Phase 1 trial is ongoing, with positive data reported from the single ascending dose part of the study in September 2024.
The company reported a net loss of $27.6 million for 2024, compared to a net loss of $12.5 million in 2023, primarily due to increased research and development expenses.
MetaVia had $16.0 million in cash as of December 31, 2024, and anticipates that existing cash will fund operations into the third quarter of 2025.
The company is exploring financing opportunities to support its ongoing and future clinical trials, acknowledging substantial doubt about its ability to continue as a going concern without additional capital.
MetaVia's operations are subject to significant risks, including dependence on third-party manufacturers and collaborators, competition from other pharmaceutical companies, and potential regulatory challenges.
The filing also details various risk factors, including the potential for delays in clinical trials, reliance on collaborative partners, and the need for additional capital to fund operations.
MetaVia's strategy includes advancing its lead candidates through regulatory processes, exploring combination therapies, and considering out-licensing and divestiture opportunities for its legacy programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MetaVia Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.