NeuroBo Pharmaceuticals, Inc., now MetaVia Inc., reported a net loss of $27.6 million for the fiscal year ended December 31, 2024, compared to a net loss of $12.5 million in 2023. Total operating expenses increased by $12.9 million (81.3%) to $28.8 million, driven by a 135.3% surge in research and development (R&D) expenses to $21.6 million. This increase stemmed from clinical trials for DA-1241 (MASH treatment) and DA-1726 (obesity treatment), investigational drug manufacturing, and higher employee compensation. General and administrative expenses rose by 7.8% to $7.3 million, primarily due to increased employee compensation. Other income decreased by 64.4% to $1.2 million, mainly due to a lower gain on warrant liabilities. The company's accumulated deficit reached $135.9 million as of December 31, 2024.
The company's cash balance decreased from $22.4 million at the end of 2023 to $16.0 million at the end of 2024. This decrease resulted from net cash used in operating activities of $24.7 million, partially offset by net cash provided by financing activities of $18.3 million. The financing activities included a registered direct offering of common stock raising $3.0 million and a private placement raising $17.0 million, with $10 million from Dong-A ST Co., Ltd. The company anticipates that its existing cash will fund operations into the third quarter of 2025. The company's independent registered public accounting firm expressed an opinion on the consolidated financial statements but noted substantial doubt about the company's ability to continue as a going concern within twelve months.
Significant developments during the year included the completion of the last patient last visit for the Phase 2a clinical trial of DA-1241 in November 2024 and the announcement of positive top-line 16-week results from this trial in December 2024. In September 2024, positive top-line data from the single ascending dose (SAD) part of the Phase 1 trial for DA-1726 were announced. The company also underwent a corporate name change to MetaVia Inc. in November 2024. As of March 17, 2025, the company had nine full-time employees.
The company's two primary product candidates are DA-1241, a GPR119 agonist in Phase 2a trials for MASH, and DA-1726, a GLP-1 and glucagon receptor dual agonist in Phase 1 trials for obesity. The company also has four legacy therapeutic programs that are not currently being advanced and are being considered for out-licensing or divestiture. The company's financial performance is heavily reliant on the success of its clinical trials and its ability to secure additional funding.
The company's outlook is contingent upon the successful completion of its clinical trials, regulatory approvals, and the ability to secure additional funding. The company acknowledges substantial risks related to its financial position, the development and commercialization of its product candidates, intellectual property protection, and competition within the pharmaceutical industry. The company's ability to continue as a going concern is uncertain.
About MetaVia Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.