Inventiva S.A. filings document a foreign private issuer and ADR program tied to a clinical-stage biopharmaceutical company developing oral therapies for MASH. Form 6-K reports furnish press releases and meeting notices covering lanifibranor development, annual and preliminary financial results, R&D expense trends, cash resources, revenues, and financing activity.
The company's regulatory disclosures also cover governance and shareholder voting matters, annual general meeting materials, leadership and organizational changes, material agreements, capital-structure disclosures, and portfolio actions including the completed sale of odiparcil. These records connect Inventiva's drug-development focus with its reporting obligations as a France-based issuer listed through American depositary shares.
Inventiva S.A. announced it will present three scientific abstracts at AASLD The Liver Meeting® 2026, scheduled for November 5–9, 2026, in Denver. The presentations address coordinated epigenetic changes across PPAR isoforms in MASLD, lanifibranor’s effects across hepatic cell populations involved in fibrosis, and liver sinusoidal endothelial cell dysfunction and vascular alterations across MASH stages.
Inventiva said preclinical data and Phase 2b clinical results showed improvement in liver sinusoidal endothelial cell alterations and an association with changes in intrahepatic vascular abnormalities across multiple disease stages. Lanifibranor is being evaluated in the Phase 3 NATiV3 trial in patients with MASH and moderate and advanced fibrosis, with topline results expected in the fourth quarter of this year. Lanifibranor remains investigational; no regulatory authority has approved it, and its safety and efficacy have not been established.
Inventiva S.A. reported a €69.5 million net loss for the six months ended June 30, 2026, versus €175.9 million a year earlier. Revenue was €20,000, down from €4.454 million; the net loss comparison also reflects a shift in net financial result to €0.9 million income from a €113.2 million loss, primarily due to fair-value movements in financing instruments. Operating cash use was €45.4 million, compared with €53.7 million.
June’s refinancing included an ADS offering that generated $120.0 million gross and $110.9 million net, and €75.0 million of debt drawn from funds and accounts managed by BlackRock and Claret Capital Partners on June 12, with €69.6 million in net proceeds. At June 30, cash and cash equivalents were €166.1 million, with short-term deposits of €67.8 million. Inventiva estimates these resources support operations through the end of the second quarter of 2027 under its current plan, excluding conditional Tranche C; it says current resources do not cover projected needs for at least 12 months and disclosed significant uncertainty about its ability to continue as a going concern. The last patient completed the final 72-week NATiV3 visit on September 2, 2026; topline results are expected in the fourth quarter of 2026.
Inventiva S.A. (IVA) reports a key clinical milestone: the last patient has completed the final 72-week visit in NATiV3, its Phase 3 trial of oral small molecule lanifibranor for adults with MASH and F2/F3 fibrosis. The main NATiV3 cohort enrolled 1,009 biopsy-proven non-cirrhotic MASH patients, with an additional 410 patients in an exploratory cohort. All patients have now finished the 72-week treatment period, and topline results are expected in the fourth quarter of 2026. If results are favorable, Inventiva anticipates regulatory submission in the first half of 2027 and is preparing for a potential U.S. launch of lanifibranor in 2028, subject to FDA approval. NATiV3 includes a 48-week open-label extension in which all participants can receive lanifibranor, supporting longer-term safety assessment. The company also updated the date for its first-half 2026 financial results to September 28, 2026 and outlined several September 2026 investor conference appearances.
Inventiva S.A. (IVA) reported on the appointment of Chris Benecchi as Chief Operating Officer. He brings 30 years of biopharmaceutical leadership across commercial, operational and enterprise roles, including senior positions at Sage Therapeutics, UCB, Alexion, Acorda, Takeda and Johnson & Johnson.
Benecchi will lead operational readiness as Inventiva approaches topline results from its NATiV3 pivotal Phase 3 study of lanifibranor in MASH, which are expected in Q4 2026, and as the company prepares for potential commercialization. A potential U.S. launch of lanifibranor, subject to regulatory approval, is anticipated in 2028. Lanifibranor remains an investigational oral pan-PPAR agonist for MASH with safety and efficacy not yet established.
Inventiva S.A. corrected a prior disclosure on its debt financing, stating that potential proceeds for Tranche C of its Debt Financing Transaction are €55 million, not €20 million as previously indicated, while confirming that all other information from the earlier communication remains unchanged.
For the first half of 2026, Inventiva reported preliminary liquidity with €166.1 million in cash and cash equivalents and €67.8 million in short-term deposits as of June 30, 2026. Net cash used in operating activities was (€48.7) million, with R&D expenses of (€50.1) million. Net cash from financing activities of €50.9 million reflects a June 2026 capital structure optimization, including a €103 million equity offering and a €75 million Debt Financing Transaction, partly offset by repayment of a €62 million EIB loan and €50 million of warrant repurchases.
Based on existing cash, short-term deposits and completed financings, the company expects to fund operations as currently planned until the end of the second quarter of 2027, while stating that current cash and cash equivalents alone are not sufficient for operating needs over the next 12 months. Assuming completion of Tranche C for potential proceeds of up to €55.0 million and full exercise of Tranche 3 warrants for up to €116.0 million, Inventiva projects funding capacity until the start of the first quarter of 2028.
Inventiva S.A. reported preliminary financial results for the first half of 2026, highlighting its liquidity position and recent financing activity. As at June 30, 2026, cash and cash equivalents were €166.1 million with an additional €67.8 million in short-term deposits, compared with €99.3 million of cash and €131.6 million of short-term deposits at December 31, 2025. Net cash used in operating activities was €48.7 million, an improvement from €53.7 million a year earlier, reflecting an €8.8 million working capital change, while R&D expenses increased to €50.1 million from €44.9 million as the NATiV3 Phase 3 trial and pre-commercial activities advanced. Net cash from investing activities was €63.9 million versus an outflow of €24.8 million in the first half of 2025, largely due to movements in short-term deposits, and the company recorded a positive foreign exchange effect of €0.7 million. No revenues were recorded in the first half of 2026, compared with €4.5 million in the prior-year period.
Net cash generated from financing activities in the first half of 2026 totaled €50.9 million, driven by a June capital structure optimization that included an €103 million Equity Offering and a €75 million Debt Financing Transaction, partly offset by repayment of a €62 million EIB loan and repurchase of legacy EIB warrants for €50 million. Based on existing cash, cash equivalents, short-term deposits and completed financings, Inventiva expects to finance operations as currently planned until the end of the second quarter of 2027. Including the potential completion of Tranche C under the Debt Financing Transaction for up to €20.0 million and full exercise of Tranche 3 warrants for up to €116.0 million, the company estimates its cash runway could extend to the start of the first quarter of 2028. At the date of this communication, however, management notes that current cash and cash equivalents alone are not sufficient to cover operating needs as currently planned for the next 12 months.
Inventiva has completed its warrant restructuring with the European Investment Bank by issuing 15,677,573 new EIB warrants at a subscription and exercise price of €0.01 each and cancelling all remaining legacy Tranche B warrants.
Each new warrant allows subscription for one ordinary share and, if fully exercised, would represent about 6.5% of Inventiva’s current share capital on a non-diluted basis. The new instruments remove the specific contractual anti-dilution protections and put option embedded in the legacy EIB warrants, simplifying the capital structure and limiting future dilution from this source.
After these changes, Inventiva’s share capital on a non-diluted basis totals 236,280,202 shares, with free float accounting for 55.0% of shares. On a fully diluted basis, including the new EIB warrants and other instruments, the share count would be 433,608,437 shares, with free float at 47.0%. The new EIB warrants are exercisable from August 30, 2026 until January 4, 2036 and will be held in registered form, not listed on any market. Management frames this refinancing step as part of broader efforts to optimize capital structure and support ongoing Phase 3 development of lanifibranor for MASH.
Inventiva S.A. reported the results of its Combined Shareholders’ General Meeting held on June 30, 2026. Shareholders voted on a wide range of ordinary and extraordinary resolutions, with a quorum of 71.874% based on 236,280,202 shares with voting rights.
All resolutions were adopted except the 31st resolution, which would have authorized share capital increases reserved for members of a company savings plan; it was rejected, with 45.94% of votes in favor and 54.06% against, in line with a negative recommendation from the Board of Directors. The meeting also approved, without modification, the compensation policy for corporate officers as described in Inventiva’s 2025 Universal Registration Document and related materials.
Inventiva S.A. reports major balance sheet moves and amendments to its new debt financing. The company repaid in full its loans from the European Investment Bank and repurchased a portion of the related EIB warrants, as part of a broader “Combined Transaction”. EIB waived early prepayment fees that would otherwise have applied.
On June 12, 2026 Inventiva issued Tranche A Convertible Bonds and Tranche B Amortized Bonds to funds managed by BlackRock and Claret Capital for initial gross proceeds of €75 million and net proceeds of €71,298,750, following a registered equity offering of 27,272,727 ADSs at $4.40 per ADS. The Tranche A Convertible Bonds carry a conversion price of €5.2893 per share, implying a conversion ratio of 0.18907 new ordinary share per €1 bond. Concurrently, the company issued Lenders’ Warrants with an exercise price of €4.1559 per share. Inventiva also amended its Subscription Agreement to refine the monthly testing of a €30.0 million minimum cash covenant linked to a €2.0 billion market capitalization trigger and to formalize bondholder representation for Tranches B and C.
Inventiva S.A. has called an Ordinary and Extraordinary General Meeting for June 30, 2026 to approve 2025 accounts and reset its financing toolkit. The statutory financial statements show a net accounting loss of EUR 207,965,630.56, which will be carried forward, bringing accumulated losses to EUR 583,594,899.42. Shareholders are asked to approve extensive authorizations for share issues with and without preemptive rights, debt securities issuances up to EUR 500,000,000, and a share buyback program for up to 10% of the share capital.
The agenda also includes multiple equity-based compensation plans, director elections and compensation policies, and technical updates to the bylaws. A key item notes that shareholders’ equity has fallen below half of share capital; shareholders resolve not to dissolve the company and to restore equity within the legal timeframe. In addition, the meeting will vote on issuing up to 15,677,573 new EIB share subscription warrants at an exercise price of EUR 0.01 each, replacing earlier, more protective EIB warrants as part of a wider refinancing of a EUR 50 million loan.