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MetaVia Inc. Reports Year-End Financial Results for 2024

MetaVia Inc. (Nasdaq: MTVA), a clinical-stage biotechnology firm dedicated to innovating therapies for cardiometabolic diseases, has unveiled its financial outcomes for the fiscal year ended December 31, 2024. The company has highlighted significant advances in clinical development for its two primary products, DA-1726 and DA-1241.

In a statement from Hyung Heon Kim, MetaVia's President and CEO, the company noted, "Throughout 2024, exceptional strides were made in the clinical development of our next-generation cardiometabolic therapies. We're poised to share top-line results soon from the MAD (multiple ascending dose) Part 2 trial for DA-1726, which addresses obesity. This novel dual agonist targets both GLP-1 and glucagon receptors, a combination that has the potential to improve tolerability and efficacy compared to existing treatments on the market."

The importance of DA-1726 lies in its balanced action that could potentially increase energy expenditure while decreasing food intake, thereby enhancing weight loss outcomes for patients struggling with obesity. Current GLP-1 agonists have shown high dropout rates among patients, which is a challenge that DA-1726 aims to overcome. The top-line data from the MAD Part 2 study are expected in April 2025, and MetaVia is keen to validate the clinical efficacy of this promising candidate.

MetaVia also unveiled positive results from its Phase 2a trial of DA-1241 in December 2024. This novel GPR119 agonist demonstrated its ability to reduce alanine transaminase (ALT) levels, indicative of its potential in treating metabolic dysfunction-associated steatohepatitis (MASH). The trial's findings not only showed a significant reduction in ALT but also highlights DA-1241's safety profile, which was characterized by mainly mild adverse effects.

“We maintain strong confidence in DA-1241's unique ability to manage inflammation linked with MASH,” added Mr. Kim. “As we continue to navigate through preclinical evaluations for combination therapies of DA-1241, we are excited about the prospect of addressing this challenging condition more effectively than current options.”

Financial Performance Review

In terms of financial performance for the year, MetaVia reported research and development (R&D) expenses of approximately $21.6 million for 2024, a substantial increase from the $9.2 million spent in 2023. This rise reflects a focus on clinical trial activities and investigational drug manufacturing. Additionally, general and administrative (G&A) expenses grew from around $6.7 million in 2023 to approximately $7.3 million in 2024, largely due to enhancements in employee compensation.

Despite the increased expenditure, the company maintained a net loss of $27.6 million for the year, compared to a $12.5 million loss in the previous year. As of December 31, 2024, MetaVia's cash position stood at $16.0 million, providing sufficient runway to fund operations into the third quarter of 2025.

Looking Ahead

In addition to its key clinical milestones, MetaVia is set to meet with the U.S. Food and Drug Administration (FDA) in the first half of 2025 as part of its continued efforts to advance DA-1241. The company’s plans for DA-1726 include undertaking a Phase 1 Part 3 trial to capture an early proof-of-concept in late 2025, with interim results projected for mid-2026.

"Our commitment to innovation in the cardiometabolic space remains unwavering as we work diligently to meet the needs of patients facing these conditions," Kim concluded. MetaVia is strategically positioned to capture a significant market share as the focus on developing more tolerable and effective obesity treatments intensifies.

For further information on MetaVia Inc. and their latest developments, please visit www.metaviatx.com for updates on clinical trials and corporate announcements.