Vivo funds disclose DBV Technologies (DBVT) stakes totaling 5.7% and 0.7%

Rhea-AI Filing Summary

DBV Technologies S.A. (DBVT) received an updated ownership report on its ordinary shares, represented by American Depositary Shares. Vivo Opportunity Fund Holdings, L.P. and its general partner Vivo Opportunity, LLC report beneficial ownership of 15,685,950 ordinary shares, or 5.7% of the class, based on 274,852,082 ordinary shares outstanding as of February 9, 2026.

Separately, Vivo Opportunity Cayman Fund, L.P. and its general partner Vivo Opportunity Cayman, LLC report beneficial ownership of 2,014,280 ordinary shares, or 0.7% of the class. The filing states the securities are not held for the purpose of changing or influencing control of DBV Technologies.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DBV Technologies S.A.

(Name of Issuer)

Ordinary shares, nominal value 0.10 euro per share, presented by American Depository Shares

(Title of Class of Securities)

23306J309

(CUSIP Number)

01/12/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 23306J309

1

Names of Reporting Persons

Vivo Opportunity Fund Holdings, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 15,685,950.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 15,685,950.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,685,950.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The reported ordinary shares, nominal value 0.10 euro per share (the "Ordinary Shares") of DBV Technologies S.A. (the "Issuer"), represented by 3,137,190 American Depository Shares ("ADSs"), are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percentage is calculated based on 274,852,082 Ordinary Shares outstanding of the Issuer as of February 9, 2026.

SCHEDULE 13G

CUSIP No. 23306J309

1

Names of Reporting Persons

Vivo Opportunity, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 15,685,950.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 15,685,950.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,685,950.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported Ordinary Shares of the Issuer, represented by 3,137,190 ADSs, are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percentage is calculated based on 274,852,082 Ordinary Shares outstanding of the Issuer as of February 9, 2026.

SCHEDULE 13G

CUSIP No. 23306J309

1

Names of Reporting Persons

Vivo Opportunity Cayman Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,014,280.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,014,280.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,014,280.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The reported Ordinary Shares of the Issuer, represented by 402,856 ADSs, are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percentage is calculated based on 274,852,082 Ordinary Shares outstanding of the Issuer as of February 9, 2026.

SCHEDULE 13G

CUSIP No. 23306J309

1

Names of Reporting Persons

Vivo Opportunity Cayman, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,014,280.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,014,280.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,014,280.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported Ordinary Shares of the Issuer, represented by 402,856 ADSs, are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percentage is calculated based on 274,852,082 Ordinary Shares outstanding of the Issuer as of February 9, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DBV Technologies S.A.
(b)	Address of issuer's principal executive offices: 107 avenue de la Republique, 92320 Chatillon France
Item 2.
(a)	Name of person filing: Vivo Opportunity Fund Holdings, L.P. and its General Partner Vivo Opportunity, LLC Vivo Opportunity Cayman Fund, L.P. and its General Partner Vivo Opportunity Cayman, LLC
(b)	Address or principal business office or, if none, residence: 192 Lytton Avenue, Palo Alto, CA 94301
(c)	Citizenship: Vivo Opportunity Fund Holdings, L.P. is a Delaware limited partnership. Vivo Opportunity, LLC is a Delaware limited liability company. Vivo Opportunity Cayman Fund, L.P. is a Cayman Islands limited partnership. Vivo Opportunity Cayman, LLC is a Cayman Islands limited liability company.
(d)	Title of class of securities: Ordinary shares, nominal value 0.10 euro per share, presented by American Depository Shares
(e)	CUSIP No.: 23306J309
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Vivo Opportunity, LLC may be deemed to beneficially own 15,685,950 Ordinary Shares, represented by 3,137,190 ADSs. The securities are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity Cayman, LLC may be deemed to beneficially own 2,014,280 Ordinary Shares, represented by 402,856 ADSs. The securities are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P.
(b)	Percent of class: Vivo Opportunity Fund Holdings, L.P.: 5.7% Vivo Opportunity, LLC: 5.7% Vivo Opportunity Cayman Fund, L.P.: 0.7% Vivo Opportunity Cayman, LLC: 0.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Vivo Opportunity Fund Holdings, L.P.: 15,685,950 Ordinary Shares, represented by 3,137,190 ADSs Vivo Opportunity, LLC: 15,685,950 Ordinary Shares, represented by 3,137,190 ADSs Vivo Opportunity Cayman Fund, L.P.: 2,014,280 Ordinary Shares, represented by 402,856 ADSs. Vivo Opportunity Cayman, LLC: 2,014,280 Ordinary Shares, represented by 402,856 ADSs.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: Vivo Opportunity Fund Holdings, L.P.: 15,685,950 Ordinary Shares, represented by 3,137,190 ADSs Vivo Opportunity, LLC: 15,685,950 Ordinary Shares, represented by 3,137,190 ADSs Vivo Opportunity Cayman Fund, L.P.: 2,014,280 Ordinary Shares, represented by 402,856 ADSs. Vivo Opportunity Cayman, LLC: 2,014,280 Ordinary Shares, represented by 402,856 ADSs
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vivo Opportunity Fund Holdings, L.P.

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member of Vivo Opportunity, LLC, General Partner
Date:	02/13/2026

Vivo Opportunity, LLC

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member
Date:	02/13/2026

Vivo Opportunity Cayman Fund, L.P.

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member of Vivo Opportunity Cayman, LLC, General Partner
Date:	02/13/2026

Vivo Opportunity Cayman, LLC

Signature:	/s/ Kevin Dai
Name/Title:	Kevin Dai/Managing Member
Date:	02/13/2026

FAQ

What ownership stake does Vivo Opportunity report in DBV Technologies (DBVT)?

Vivo Opportunity Fund Holdings, L.P. and its general partner Vivo Opportunity, LLC report beneficial ownership of 15,685,950 ordinary shares, equal to 5.7% of DBV Technologies’ outstanding ordinary shares, based on 274,852,082 ordinary shares outstanding as of February 9, 2026.

How many DBV Technologies shares does Vivo Opportunity Cayman hold?

Vivo Opportunity Cayman Fund, L.P. and its general partner Vivo Opportunity Cayman, LLC report beneficial ownership of 2,014,280 ordinary shares of DBV Technologies, representing 0.7% of the outstanding ordinary shares, calculated using the same 274,852,082-share base as of February 9, 2026.

How are DBV Technologies (DBVT) shares held by the Vivo Opportunity entities structured?

The reported DBV Technologies ordinary shares are represented by American Depositary Shares (ADSs). For Vivo Opportunity Fund Holdings, L.P., 15,685,950 ordinary shares correspond to 3,137,190 ADSs, while 2,014,280 ordinary shares for the Cayman fund correspond to 402,856 ADSs.

Are the Vivo Opportunity stakes in DBV Technologies intended to influence control?

The filing certifies the securities were not acquired and are not held for the purpose of changing or influencing control of DBV Technologies and are not held in connection with any transaction having that purpose, other than activities related to a nomination under the specified SEC rule.

Who ultimately controls the Vivo Opportunity holdings in DBV Technologies (DBVT)?

DBV Technologies shares are held of record by Vivo Opportunity Fund Holdings, L.P. and Vivo Opportunity Cayman Fund, L.P.. Their respective general partners, Vivo Opportunity, LLC and Vivo Opportunity Cayman, LLC, may be deemed to beneficially own the same ordinary shares and associated ADSs.

What is the date of the DBV Technologies ownership event reported by Vivo Opportunity?

The Schedule 13G/A amendment identifies the relevant event date as January 12, 2026. Ownership percentages are calculated using 274,852,082 DBV Technologies ordinary shares outstanding as of February 9, 2026, as stated in the disclosure.