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DBVT

DBV Technologies S.A.

DBVT

DBV Technologies S.A. • NASDAQ
$13.09 ▲ 1.43% (+0.18)
Market Cap $313.14 M
52w High $18.00
52w Low $2.74
Dividend Yield 0%
P/E -2.52
Volume 423.62K
Outstanding Shares 23.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $32.605M ▼ $-33.016M ▲ 0% $-1.6 ▲ $-31.497M ▲
Q2-2025 $0 $38.492M ▲ $-42.403M ▼ 0% $-1.7 ▼ $-38.492M ▼
Q1-2025 $0 ▼ $22.914M ▼ $-27.099M ▼ 0% ▲ $-1.3 ▼ $-22.914M ▲
Q4-2024 $511K ▼ $24.372M ▼ $-23.015M ▲ -4.504K% ▼ $-1.2 ▲ $-23.223M ▲
Q3-2024 $1.072M $31.4M $-30.442M -2.84K% $-1.6 $-28.642M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $69.837M ▼ $110.495M ▼ $57.641M ▲ $52.854M ▼
Q2-2025 $103.207M ▲ $143.429M ▲ $57.205M ▲ $86.224M ▲
Q1-2025 $12.962M ▼ $50.562M ▼ $47.689M ▲ $2.873M ▼
Q4-2024 $32.456M ▼ $65.658M ▼ $38.271M ▼ $27.388M ▼
Q3-2024 $46.441M $93.055M $39.021M $54.034M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-33.164M ▲ $-32.435M ▲ $-241K ▼ $130K ▼ $-33.37M ▼ $-32.552M ▲
Q2-2025 $-41.875M ▼ $-33.905M ▼ $-38K ▲ $116.947M ▲ $90.245M ▲ $-33.937M ▼
Q1-2025 $0 ▲ $-19.668M ▼ $-375K ▼ $45K ▼ $-19.494M ▼ $-19.668M ▼
Q4-2024 $-23.015M ▲ $-12.252M ▲ $793K ▲ $675K ▲ $-13.985M ▲ $-12.13M ▲
Q3-2024 $-30.442M $-22.457M $-109K $7K $-19.772M $-22.853M

Five-Year Company Overview

Income Statement

Income Statement DBV Technologies is still very much a research-focused biotech, not yet a commercial one. Revenue has been minimal for years, essentially reflecting the absence of an approved product. The company runs steady operating and net losses, driven mainly by research, clinical trials and overhead needed to advance its Viaskin platform. Losses have narrowed somewhat compared with earlier years, but they remain substantial relative to the company’s small size. Earnings per share look very negative, but this is amplified by recent reverse stock splits, which mechanically make the per‑share loss figure appear larger even if the underlying business has not worsened by the same degree.

Balance Sheet

Balance Sheet The balance sheet shows a small company with limited but still positive equity and very little debt. Cash and total assets have been shrinking over the last several years as the company funds its operations, indicating that its financial cushion has been drawn down over time. The low debt load reduces financial risk from interest payments, but the modest cash and asset base mean the company is highly sensitive to its ability to raise new capital. Overall, the balance sheet is clean in terms of leverage but relatively thin in terms of resources to support long clinical programs on its own.

Cash Flow

Cash Flow Cash flow reflects a classic clinical-stage biotech profile: regular cash outflows from operations and virtually no spending on physical assets or equipment. Free cash flow is consistently negative, as almost every unit of cash used in the business goes toward operating expenses, mainly R&D and running trials. The cash burn has improved somewhat compared with the past, but it is still significant relative to the company’s cash reserves. Without product revenue to offset these outflows, the company’s ability to continue on its current path depends on additional financing or partnerships.

Competitive Edge

Competitive Edge DBV occupies a specialized niche in food allergy treatment, built around its Viaskin epicutaneous immunotherapy patch. Its main differentiation is the route of administration: a skin patch that aims to deliver a gentler, safer and more convenient desensitization than oral therapies. This is particularly compelling in young children, where safety and ease of use are critical and where existing approved options are limited. The company holds a meaningful patent estate around its technology and has a first‑mover position in epicutaneous treatment for peanut allergy. However, it competes indirectly with a much larger rival backed by Nestlé in oral immunotherapy, and it lacks the scale, marketing muscle and financial flexibility of big pharma. DBV’s moat rests on its unique technology, safety profile, and focus on very young patients, but it remains exposed to clinical, regulatory and commercialization risks, as well as potential new entrants or alternative technologies.

Innovation and R&D

Innovation and R&D Innovation is the core of DBV’s value proposition. The Viaskin patch platform represents a novel way to retrain the immune system via the skin, with a design that aims to reduce severe reactions while being simple for families to use at home. The lead candidate, Viaskin Peanut, targets a large unmet need in peanut-allergic children, especially toddlers, where no approved patch-based treatment exists today. The company is also exploring extensions into milk allergy and other immune conditions, which could broaden the platform’s reach over time. R&D spending is the main driver of the company’s losses but also its main asset: late-stage trials like the VITESSE Phase 3 study and the toddler safety program are critical make‑or‑break events. Upcoming data and regulatory milestones over the next couple of years will heavily influence whether the technology can transition from promise to real-world use. This concentration of value in a few programs creates both meaningful upside potential and substantial downside risk if trials or regulatory discussions do not go as planned.

Summary

DBV Technologies is a small, clinical-stage biotech built around an innovative allergy patch platform, with a clear focus on peanut allergy in young children. Financially, it has minimal revenue, ongoing operating losses, and a shrinking but still positive equity base funded mainly by past equity raises, with very little debt. Cash burn has moderated but remains material, and the company’s stated need to secure additional funding underscores its dependence on capital markets or partners. Strategically, DBV’s strengths lie in its differentiated epicutaneous approach, a potentially favorable safety and convenience profile versus oral treatments, protection from patents, and alignment with regulators on a pathway for its lead program in toddlers. Its main risks center on late-stage clinical trial outcomes, regulatory approvals, execution of commercialization plans, and the challenge of competing against larger, well-funded players. In essence, DBV is a high‑risk, innovation-driven story whose future hinges on a small number of pivotal clinical and regulatory events and its ability to keep funding the journey toward potential commercialization.

NEWS

November 11, 2025 · 11:50 PM UTC

DBV Technologies Announces Last Patient Visit Completed in VITESSE Phase 3 Clinical Trial of VIASKIN® Peanut Patch in Peanut Allergic Children Aged 4-7 Years

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November 4, 2025 · 4:30 PM UTC

DBV Technologies to Participate in the Guggenheim 2nd Annual Healthcare Innovation Conference

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November 3, 2025 · 4:30 PM UTC

DBV Technologies Appoints Industry Leader Kevin Trapp as Chief Commercial Officer

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October 30, 2025 · 4:30 PM UTC

DBV Technologies Announces Appointment of Philina Lee, Ph.D. to Board of Directors

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October 30, 2025 · 3:00 AM UTC

DBV Technologies to Participate in Upcoming ACAAI 2025 Annual Scientific Meeting

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