MetaVia Reports Second Quarter 2026 Financial Results and Provides Corporate Update
Rhea-AI Summary
MetaVia (Nasdaq: MTVA) reported a second quarter 2026 net loss of $5.3 million ($0.90 per share) on total operating expenses of $5.4 million, driven mainly by higher R&D spending on obesity candidate DA-1726. Cash and cash equivalents were $12.6 million at June 30, 2026, which the company expects will fund operations through 2026.
All active patients in the ongoing 16-week Phase 1 Part 3 DA-1726 obesity study reached the highest planned dose levels of 48 mg and 64 mg, with topline data expected in Q4 2026. MetaVia also advanced vanoglipel (DA-1241) for MASH, with combination preclinical data and a planned End-of-Phase 2 FDA meeting in the second half of 2026.
Positive
- R&D investment rose to $3.5M in Q2 2026 from $2.3M, mainly for DA-1726
- All active patients reached 48 mg and 64 mg doses in Phase 1 Part 3 DA-1726 study
- Up to 9.1% mean weight loss after eight weeks at 48 mg DA-1726 in Phase 1 data
- Cash and cash equivalents increased to $12.6M at June 30, 2026 from $10.3M year-end 2025
- Planned FDA End-of-Phase 2 meeting for vanoglipel combination therapy in MASH in second half 2026
Negative
- Net loss increased to $5.3M in Q2 2026 from $4.0M in Q2 2025
- Total operating expenses rose to $5.4M in Q2 2026 from $4.3M a year earlier
- Other income declined to $0.1M in Q2 2026 from $0.3M, reflecting lower interest income and warrant valuation impact
- Accumulated deficit widened to $158.0M at June 30, 2026 from $148.8M at December 31, 2025
News Explained
MetaVia’s
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All Active Patients Successfully Reached Highest Planned Dose Levels of 48 mg and 64 mg in Ongoing Phase 1 Part 3 Study of DA-1726
16-Week Topline Data Expected in the Fourth Quarter of 2026
"During the second quarter of 2026, and subsequently, we continued to execute across both of our clinical development programs while further strengthening the differentiated profile of DA-1726 as a dual GLP-1/glucagon receptor agonist," stated Hyung Heon Kim, President and Chief Executive Officer of MetaVia. "Most recently, all active patients in both cohorts of our ongoing Phase 1 Part 3 study successfully reached the highest planned dose levels of 48 mg and 64 mg, representing an important execution milestone as we prepare for our 16-week topline data readout, expected in the fourth quarter of 2026. Also of note, during the quarter, we presented additional data from our 48 mg Phase 1 study of DA-1726 at both the EASL and ADA scientific conferences, which demonstrated up to
"In parallel, we continued to broaden the potential clinical utility of vanoglipel (DA-1241). During the quarter, we presented preclinical combination data at the ADA 2026 Scientific Sessions, demonstrating synergistic effects with both resmetirom in MASH and metformin in type 2 diabetes, while a peer-reviewed publication further highlighted the anti-fibrotic potential of GPR119 agonism. Together, these findings reinforce our strategy of advancing vanoglipel as a differentiated combination backbone for metabolic and liver diseases, designed to complement established and emerging therapies across cardiometabolic disorders."
Second Quarter 2026 and Subsequent Highlights
- July 2026: Announced the completion of dose titration in the 16-week, Phase 1 Part 3 study of DA-1726, with all active patients successfully reaching the highest planned dose levels of 48 mg and 64 mg.
- June 2026: Presented new late-breaking data at the ADA 2026 Scientific Sessions supporting DA-1726's differentiated obesity profile and demonstrating the combination potential of vanoglipel with resmetirom in MASH and metformin in type 2 diabetes.
- May 2026: Presented additional data from the 48 mg Phase 1 trial of DA-1726 at EASL Congress 2026, demonstrating up to
9.1% mean body weight reduction without evidence of plateau and exploratory improvements in liver-related biomarkers, supporting the potential of DA-1726 in obesity and MASH. - May 2026: Announced the publication of peer-reviewed preclinical research in Biomolecules & Therapeutics, supporting the anti-fibrotic potential of vanoglipel and the differentiated role of GPR119 agonism in MASH.
- April 2026: Dosed the first patient in Part 3 of the 16-week Phase 1 clinical trial evaluating DA-1726 in obese, otherwise healthy adults using one-step titration to 48 mg and two-step titration to 64 mg to safely achieve higher target doses and optimize tolerability.
Anticipated Clinical Milestones
- DA-1726 in Obesity:
- Data readout from Phase 1 Part 3, 16-week titration studies, evaluating titration to 48 mg in one step and 64 mg via a two-step regimen, is expected in the fourth quarter of 2026.
- Vanoglipel (DA-1241) in MASH:
- The Company is currently working to schedule an End-of-Phase 2 meeting with the FDA during the second half of 2026 to discuss the clinical development pathway for the vanoglipel combination therapy.
Second Quarter Financial and Operating Results
- Research and Development (R&D) Expenses were approximately
$3.5 million $2.3 million $1.2 million
R&D expenses were approximately$5.6 million $4.6 million $0.9 million $1.2 million $0.2 million $0.1 million
- General and Administrative (G&A) Expenses were approximately
$1.9 million $2.0 million $0.1 million
G&A expenses were approximately$3.8 million for the six months ended June 30, 2026, as compared to approximately$3.5 million for the six months ended June 30, 2025. The approximately$0.3 million increase was primarily attributable to (i)$0.1 million $0.1 million $0.1 million
- Total Operating Expenses were approximately
$5.4 million $4.3 million $1.1 million
Total operating expenses were approximately$9.4 million $8.2 million $1.2 million
- Total Other Income was approximately
$0.1 million $0.3 million $0.2 million $0.2 million $0.1 million
Total other income was approximately$0.3 million $0.5 million $0.2 million $0.1 million $0.1 million
- Net Loss was
$5.3 million $0.90 $4.0 million $2.87
Net loss for the six months ended June 30, 2026, was approximately$9.1 million , or$1.69 per basic and diluted share, based on 5,398,683 weighted average shares of common stock, basic and diluted, compared with a net loss of approximately$7.7 million , or$6.59 per basic and diluted share, based on 1,162,692 weighted average shares of common stock, basic and diluted, for the six months ended June 30, 2025.
- Cash and cash equivalents was
$12.6 million $10.3 million
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 GLP-1 receptor agonists such as semaglutide. 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 is a potential first-in-class drug candidate targeting G-protein-coupled receptor 119 (GPR119). In preclinical studies, vanoglipel demonstrated a positive metabolic effect on glucose and lipid control, and also proved differentiated hepatic benefits reducing hepatic steatosis, hepatic inflammation, and liver fibrosis independent of metabolic improvement. In a Phase 2a clinical study, vanoglipel 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. 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 history of net losses, the sufficiency of its existing cash on hand to fund operations and raising additional capital; adverse global economic conditions; MetaVia's ability to execute on its commercial strategy; 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 preclinical 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, regulations or Nasdaq listing rules; the effects of changes to MetaVia's stock price; 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. 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
- Tables to Follow -
MetaVia Inc. Condensed Consolidated Balance Sheets (Unaudited - In thousands, except share and per share amounts) | ||||||
As of | ||||||
June 30, 2026 | December 31, 2025 | |||||
Assets | ||||||
Current assets | ||||||
Cash and cash equivalents | $ | 12,634 | $ | 10,278 | ||
Prepaid expenses and other current assets | 433 | 597 | ||||
Total current assets | 13,067 | 10,875 | ||||
Property and equipment, net | 8 | 17 | ||||
Right-of-use asset | 175 | 210 | ||||
Other assets | 21 | 21 | ||||
Total assets | $ | 13,271 | $ | 11,123 | ||
Liabilities and stockholders' equity | ||||||
Current liabilities | ||||||
Accounts payable | $ | 921 | $ | 1,060 | ||
Clinical trial accrued liabilities | 2,825 | 79 | ||||
Accrued expenses and other current liabilities | 606 | 993 | ||||
Warrant liabilities | 23 | 136 | ||||
Related party payable | 1,897 | 3,312 | ||||
Lease liability, short-term | 74 | 68 | ||||
Total current liabilities | 6,346 | 5,648 | ||||
Lease liability, long-term | 103 | 142 | ||||
Total liabilities | 6,449 | 5,790 | ||||
Commitments and contingencies | ||||||
Stockholders' equity | ||||||
Preferred stock, | — | — | ||||
Common stock, | 7 | 2 | ||||
Additional paid–in capital | 164,784 | 154,161 | ||||
Accumulated deficit | (157,969) | (148,830) | ||||
Total stockholders' equity | 6,822 | 5,333 | ||||
Total liabilities and stockholders' equity | $ | 13,271 | $ | 11,123 | ||
MetaVia Inc. Condensed Consolidated Statements of Operations (Unaudited - In thousands, except share and per share amounts) | ||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||
Operating expenses | ||||||||||||
Research and development | $ | 3,478 | $ | 2,320 | $ | 5,579 | $ | 4,647 | ||||
General and administrative | 1,907 | 1,981 | 3,831 | 3,540 | ||||||||
Total operating expenses | 5,385 | 4,301 | 9,410 | 8,187 | ||||||||
Loss from operations | (5,385) | (4,301) | (9,410) | (8,187) | ||||||||
Other income (expense) | ||||||||||||
(Loss) gain from change in fair value of warrant liabilities | (4) | 160 | 113 | 247 | ||||||||
Interest income, net | 73 | 146 | 158 | 274 | ||||||||
Total other income | 69 | 306 | 271 | 521 | ||||||||
Loss before income taxes | (5,316) | (3,995) | (9,139) | (7,666) | ||||||||
Provision for income taxes | — | — | — | — | ||||||||
Net loss | (5,316) | (3,995) | (9,139) | (7,666) | ||||||||
Loss per share of common stock, basic and diluted | $ | (0.90) | $ | (2.87) | $ | (1.69) | $ | (6.59) | ||||
Weighted average shares of common stock, basic and diluted | 5,931,875 | 1,389,753 | 5,398,683 | 1,162,692 | ||||||||
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SOURCE MetaVia Inc.