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Sep 30, 2022
DBV Technologies Q3 2022 Earnings Report
DBV Technologies reported financial results for Q3 2022 and provided a business update.
Key Takeaways
DBV Technologies reported its Q3 2022 financial results, highlighting a cash balance of $212.7 million and a decrease in operating expenses. The company is actively engaging with the FDA regarding the partial clinical hold on the VITESSE Phase 3 clinical study.
DBV closed Q3 with a cash balance of $213 million.
Cash used in operating activities decreased by more than 35% between the nine months ended September 30, 2021 and 2022, reflecting budget discipline measures.
DBV continues to engage with the U.S. FDA regarding the partial clinical hold on the VITESSE Phase 3 clinical study.
Progress has been made to address key elements of the partial clinical hold letter, but the targeted first patient screened by year-end 2022 will not be met.
DBV Technologies
DBV Technologies
Forward Guidance
DBV Technologies is focused on addressing the partial clinical hold on the VITESSE Phase 3 study and continues internal preparations for prompt study launch once the hold is lifted.