MetaVia Announces the Closing of $9.3 Million Underwritten Public Offering, Including Full Exercise of Allotment Option

Rhea-AI Summary

MetaVia (Nasdaq: MTVA) closed an underwritten public offering on Jan 16, 2026, raising approximately $9.3 million gross, which reflects full exercise of the underwriter's over-allotment option. The offering included 3,005,574 common shares (or equivalents), 4,508,361 Series C warrants (5-year, $3.10 exercise) and 4,508,361 Series D warrants (2-year, $3.10 exercise, callable after a positive Phase 1b Part III DA-1726 data readout). If all warrants and pre-funded warrants are exercised for cash, future gross proceeds could reach approximately $28.0 million. Net proceeds are intended for working capital and continued clinical development of DA-1726 for obesity.

Positive

• Raised approximately $9.3 million gross in the offering
• Full exercise of the underwriter over-allotment option completed
• Potential future gross proceeds of up to $28.0 million if warrants are fully exercised
• Proceeds earmarked to continue clinical development of DA-1726 for obesity

Negative

• Issued 3,005,574 common shares (or equivalents) increasing share count
• Outstanding 9,016,722 warrants (Series C+D) create potential dilution if exercised
• Series D warrants are callable after a positive Phase 1b Part III readout, which could accelerate dilution
• Series C warrants expire in 5 years and Series D in 2 years, creating a multi-year overhang

News Market Reaction – MTVA

-3.54% 2.2x vol

13 alerts

-3.54% News Effect

-16.2% Trough in 3 hr 16 min

-$280K Valuation Impact

$8M Market Cap

2.2x Rel. Volume

On the day this news was published, MTVA declined 3.54%, reflecting a moderate negative market reaction. Argus tracked a trough of -16.2% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $280K from the company's valuation, bringing the market cap to $8M at that time. Trading volume was elevated at 2.2x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Gross proceeds: $9.3 million Shares issued: 3,005,574 shares Series C Warrants: 4,508,361 warrants +5 more

8 metrics

Gross proceeds $9.3 million Underwritten public offering of Class A and Class B Units

Shares issued 3,005,574 shares Common stock or equivalents in the public offering

Series C Warrants 4,508,361 warrants Issued in the underwritten public offering

Series D Warrants 4,508,361 warrants Issued in the underwritten public offering

Offering price $3.10 per unit Combined price per share and accompanying C and D warrants

Warrant exercise price $3.10 Exercise price for Series C and Series D Warrants

Potential future proceeds $28.0 million If Pre-Funded, Series C, and Series D Warrants fully exercised for cash

Warrant terms 5-year and 2-year expiries Series C (5-year) and Series D (2-year) from initial issuance date

Market Reality Check

Price: $1.59 Vol: Volume 1,775,641 is about...

high vol

$1.59 Last Close

Volume Volume 1,775,641 is about 13.22x the 20-day average of 134,292, indicating heavy trading around the offering. high

Technical Shares at $3.30 trade below the $8.92 200-day MA and are 86.18% below the 52-week high of $23.87, near the $3.00 52-week low.

Peers on Argus

MTVA fell 39.11% while peers were mixed: LPCN +2.36%, PULM +7.66%, SYBX +0.88%, ...

MTVA fell 39.11% while peers were mixed: LPCN +2.36%, PULM +7.66%, SYBX +0.88%, PRTG -10.39%, THAR -2.63%. This points to a company-specific reaction to the offering rather than a sector-wide move.

Historical Context

5 past events · Latest: Jan 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 05	Clinical trial update	Positive	-8.7%	Positive Phase 1b DA-1726 metabolic and weight-loss data with favorable safety.
Dec 29	Conference participation	Neutral	-2.1%	Announcement of participation and sponsorship of MASH-TAG 2026 conference.
Dec 22	Listing compliance	Positive	+11.6%	Regained compliance with Nasdaq minimum bid price requirements.
Dec 02	Reverse stock split	Negative	-20.1%	1-for-11 reverse stock split to address Nasdaq continued listing requirements.
Nov 07	Clinical data update	Positive	+6.8%	Positive Phase 2a vanoglipel data in presumed MASH patients.

Pattern Detected

Good clinical or compliance news has sometimes seen negative or muted reactions, while structural actions like reverse splits have drawn sharp declines.

Recent Company History

Over the last few months, MetaVia has combined clinical progress with balance sheet actions. Positive DA‑1726 Phase 1b data on Jan 5, 2026 saw a -8.68% move, and a reverse split on Dec 4, 2025 led to a -20.07% reaction. Regaining Nasdaq bid-price compliance on Dec 22, 2025 was followed by a +11.6% gain. Earlier, positive Phase 2a vanoglipel data on Nov 7, 2025 produced a +6.85% move. Today’s underwritten offering continues the pattern of financing steps alongside clinical development.

Market Pulse Summary

This announcement closes an underwritten public offering that raised about $9.3 million and issued o...

Analysis

This announcement closes an underwritten public offering that raised about $9.3 million and issued over 3.0 million shares or equivalents plus 4.51 million Series C and 4.51 million Series D Warrants at $3.10. If fully exercised, related warrants could add up to $28.0 million in gross proceeds. The company plans to use funds for working capital and DA‑1726 obesity development, following recent positive cardiometabolic trial readouts and prior listing-compliance actions.

Key Terms

underwritten public offering, over-allotment option, warrants, pre-funded warrants, +4 more

8 terms

underwritten public offering financial

"the closing of its previously announced underwritten public offering of Class A Units"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

over-allotment option financial

"includes the full exercise of the underwriter's over-allotment option to purchase"

An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.

warrants financial

"additional shares and warrants. The underwritten public offering comprised of"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

pre-funded warrants financial

"If fully exercised for cash, the Pre-Funded Warrants, the Series C Common Warrants"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

registration statement on Form S-1 regulatory

"offered pursuant to a registration statement on Form S-1 (File No. 333-292581)"

A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.

Rule 462(b) regulatory

"an additional registration statement on Form S-1 filed pursuant to Rule 462(b)"

Rule 462(b) is an SEC provision that lets an issuer add more securities of the same class to an already-effective registration statement by filing a short post-effective amendment that becomes effective on filing, so the additional securities are immediately registered without redoing the full approval process. For investors this matters because it lets companies and underwriters expand an offering quickly—like adding extra seats to a sold-out show—changing supply and potential dilution that can affect the stock price.

prospectus financial

"Copies of the final prospectus can be obtained at the SEC's website"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

book-running manager financial

"Ladenburg Thalmann & Co. Inc. acted as sole book-running manager"

A book-running manager is the lead organizer responsible for coordinating a large financial sale, such as issuing new stocks or bonds. They oversee preparing all necessary documents, setting the sale’s price, and finding buyers, much like a concert promoter arranging a major event. Their role matters to investors because they help ensure the offering is successfully sold at the best possible terms.

AI-generated analysis. Not financial advice.

CAMBRIDGE, Mass., Jan. 16, 2026 /PRNewswire/ -- MetaVia Inc. (Nasdaq: MTVA) (MetaVia or the Company), a clinical-stage biotechnology company focused on transforming cardiometabolic diseases, today announced the closing of its previously announced underwritten public offering of Class A Units and Class B Units for gross proceeds of approximately $9.3 million, prior to deducting underwriting discounts and commissions and offering expenses and excluding any potential future proceeds from the exercise of warrants, which includes the full exercise of the underwriter's over-allotment option to purchase additional shares and warrants.

The underwritten public offering comprised of an aggregate of 3,005,574 shares of common stock (or common stock equivalents), 4,508,361 Series C Warrants and 4,508,361 Series D Warrants priced at a combined public offering price of $3.10 per share of common stock and accompanying Series C Warrants and Series D Warrants. The Series C Warrants are immediately exercisable, have an exercise price of $3.10, and expire on the five year anniversary of the initial issuance date. The Series D Warrants are immediately exercisable, have an exercise price of $3.10, and expire on the two year anniversary of the initial issuance date. The Series D Warrants are callable at the Company's option following the release of a positive data readout for its Phase 1b Part III clinical trial for DA-1726 via a widely disseminated press release, subject to satisfaction of certain conditions. The Series C Warrants and Series D Warrants issued in this offering are fixed priced and do not contain any variable pricing features or alternative exercise provisions.

If fully exercised for cash, the Pre-Funded Warrants, the Series C Common Warrants and the Series D Common Warrants could yield up to approximately $28.0 million in future gross proceeds. MetaVia intends to use the net proceeds from the underwritten public offering for working capital and general corporate purposes, including to continue the clinical development of DA-1726 for the treatment of obesity.

Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with the underwritten public offering.

The securities issued as part of the underwritten public offering were offered pursuant to a registration statement on Form S-1 (File No. 333-292581), which was initially filed with the U.S. Securities and Exchange Commission ("SEC") on January 5, 2026, as amended on January 12, 2026, and declared effective on January 15, 2026 and an additional registration statement on Form S-1 filed pursuant to Rule 462(b), which was filed on January 15, 2026 and became effective upon filing. Copies of the final prospectus can be obtained at the SEC's website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at prospectus@ladenburg.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About MetaVia

MetaVia Inc. is a clinical-stage biotechnology company focused on transforming cardiometabolic diseases. The company is currently developing DA-1726 for the treatment of obesity, and is developing vanoglipel (DA-1241) for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH). DA-1726 is a novel oxyntomodulin (OXM) analogue that functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) dual agonist. OXM is a naturally-occurring gut hormone that activates GLP1R and GCGR, thereby decreasing food intake while increasing energy expenditure, thus potentially resulting in superior body weight loss compared to selective GLP1R agonists. In a Phase 1 multiple ascending dose (MAD) trial in obesity, DA-1726 demonstrated best-in-class potential for weight loss, glucose control, and waist reduction. Vanoglipel (DA-1241) is a novel G-protein-coupled receptor 119 (GPR119) agonist that promotes the release of key gut peptides GLP-1, GIP, and PYY. In pre-clinical studies, vanoglipel (DA-1241) demonstrated a positive effect on liver inflammation, lipid metabolism, weight loss, and glucose metabolism, reducing hepatic steatosis, hepatic inflammation, and liver fibrosis, while also improving glucose control. In a Phase 2a clinical study, vanoglipel (DA-1241) demonstrated direct hepatic action in addition to its glucose lowering effects.

For more information, please visit www.metaviatx.com.

Forward Looking Statements

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believes", "expects", "anticipates", "may", "will", "should", "seeks", "approximately", "potential", "intends", "projects", "plans", "estimates" or the negative of these words or other comparable terminology (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements, which include, among other statements, statements regarding the anticipated use of the net proceeds from the underwritten public offering and the potential future gross proceeds from the underwritten public offering. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, without limitation, those risks associated with MetaVia's ability to execute on its commercial strategy; MetaVia's expectations regarding the sufficiency of its existing cash on hand to fund MetaVia's operations; the timeline for regulatory submissions; the ability to obtain regulatory approval through the development steps of MetaVia's current and future product candidates; the ability to realize the benefits of the license agreement with Dong-A ST Co. Ltd., including the impact on future financial and operating results of MetaVia; the cooperation of MetaVia's contract manufacturers, clinical study partners and others involved in the development of MetaVia's current and future product candidates; potential negative interactions between MetaVia's product candidates and any other products with which they are combined for treatment; MetaVia's ability to initiate and complete clinical trials on a timely basis; MetaVia's ability to recruit subjects for its clinical trials; whether MetaVia receives results from MetaVia's clinical trials that are consistent with the results of pre-clinical and previous clinical trials; impact of costs related to the license agreement, known and unknown, including costs of any litigation or regulatory actions relating to the license agreement; the effects of changes in applicable laws or regulations; the effects of changes to MetaVia's stock price on the terms of the license agreement and any future fundraising; and other risks and uncertainties described in MetaVia's filings with the Securities and Exchange Commission, including MetaVia's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date when made. MetaVia does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

MetaVia
Marshall H. Woodworth
Chief Financial Officer
+1-857-299-1033
marshall.woodworth@metaviatx.com

Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com

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SOURCE MetaVia Inc.

FAQ

How much did MetaVia (MTVA) raise in the January 16, 2026 public offering?

MetaVia raised approximately $9.3 million gross from the underwritten public offering, including full exercise of the over-allotment option.

What securities were issued in MetaVia's (MTVA) offering and at what price?

The offering included 3,005,574 common shares (or equivalents) and 4,508,361 Series C warrants and 4,508,361 Series D warrants at a combined public offering price of $3.10 per share with accompanying warrants.

What are the exercise terms and expirations for MetaVia's (MTVA) Series C and Series D warrants?

Series C warrants are immediately exercisable at $3.10 and expire five years from issuance; Series D warrants are immediately exercisable at $3.10 and expire two years from issuance and are callable by the company after a positive Phase 1b Part III DA-1726 readout.

How could MetaVia (MTVA) receive up to $28.0 million in future proceeds?

If the pre-funded warrants, Series C common warrants and Series D common warrants are all exercised for cash, they could yield up to approximately $28.0 million in future gross proceeds.

What will MetaVia (MTVA) use the net proceeds from the offering for?

MetaVia intends to use net proceeds for working capital and general corporate purposes, including continuing clinical development of DA-1726 for the treatment of obesity.