aibioMetaVia reports second quarter 2026 net loss of $5.3 million
Tickers MTVA
MetaVia reported a net loss of $5.3 million for the quarter ended June 30, 2026, with cash and cash equivalents of $12.6 million, and said all active Part 3 patients reached their highest planned doses.
Key facts
- Company
- MetaVia Inc. (NASDAQ: MTVA)
- News type
- Company Updates
- Primary source
- MetaVia Inc. 8-K (2026-08-06)
MetaVia Inc. (Nasdaq: MTVA) reported financial results for the second quarter ended June 30, 2026, and gave a corporate update on August 6, 2026. The company reported a net loss of $5.3 million, or $0.90 per basic and diluted share, based on 5,931,875 weighted average shares, compared with a net loss of $4.0 million, or $2.87 per share, for the second quarter of 2025. The release also said that all active patients in both cohorts of its ongoing Phase 1 Part 3 study had reached the highest planned dose levels of 48 mg and 64 mg.
Operating expenses
Research and development expenses were approximately $3.5 million for the quarter, compared with approximately $2.3 million a year earlier. The approximately $1.2 million increase was primarily attributable to higher direct R&D expenses related to DA-1726 product development. General and administrative expenses were approximately $1.9 million, compared with approximately $2.0 million, a decrease the company attributed mainly to lower legal and professional fees. Total operating expenses were approximately $5.4 million, compared with approximately $4.3 million.
For the six months ended June 30, 2026, R&D expenses were approximately $5.6 million and G&A expenses were approximately $3.8 million. Total operating expenses were approximately $9.4 million. The net loss for the six months was approximately $9.1 million, or $1.69 per basic and diluted share, based on 5,398,683 weighted average shares.
Other income and cash
Total other income was approximately $0.1 million for the quarter, compared with approximately $0.3 million a year earlier. MetaVia attributed the decline to an approximately $0.2 million negative impact from the change in fair value of warrant liabilities, tied to the decline in its common stock price, and to approximately $0.1 million in lower interest income.
Cash and cash equivalents were $12.6 million as of June 30, 2026, compared with $10.3 million as of December 31, 2025. The company expects its cash position will be adequate to fund operations through 2026, which is its own estimate and covers only the rest of this year.
DA-1726 and vanoglipel
For the first six months, total other income was approximately $0.3 million, compared with approximately $0.5 million a year earlier. The decrease was primarily attributable to lower gains from the change in fair value of warrant liabilities and lower interest income.
During the quarter, MetaVia presented additional data from its 48 mg Phase 1 study of DA-1726 at the EASL and ADA scientific conferences. The company says the data showed up to 9.1% mean weight loss after eight weeks of treatment. The company said the weight loss continued through eight weeks without evidence of plateau on the 48 mg dosage. Hyung Heon Kim, President and Chief Executive Officer, said the ongoing 16-week study of the 48 mg and higher 64 mg dosages has the potential to provide a more complete assessment of the drug's effects on weight loss, waist circumference, cardiometabolic health and liver-related outcomes.
On vanoglipel (DA-1241), the company presented preclinical combination data at the ADA 2026 Scientific Sessions. The data showed synergistic effects with resmetirom in MASH and with metformin in type 2 diabetes. MetaVia is working to schedule an End-of-Phase 2 meeting with the FDA during the second half of 2026 to discuss the development pathway for the vanoglipel combination therapy.
Money and data still to come
The loss per share fell to $0.90 from $2.87 only because the weighted average share count rose to 5,931,875 from 1,389,753. The net loss itself grew to $5.3 million from $4.0 million. The cash runway stops at the end of 2026, so more financing will probably be needed before or soon after the data arrive, though the release does not say how.
The 9.1% weight figure comes from an early Phase 1 cohort that the annual report says was meant to establish safety and tolerability while only exploring efficacy. Vanoglipel's combination data are preclinical, and the End-of-Phase 2 meeting is still being scheduled. MetaVia expects the 16-week Part 3 readout, evaluating 48 mg in one step and 64 mg in two steps, in the fourth quarter of 2026. All active patients had completed dose titration by July 2026.