By Dean Seal
DBV Technologies' American depositary receipts fell after the company said its cash would likely run out after next month.
The stock was down 10% at $4.48 in premarket trading on Monday. Shares had gained 61% year-to-date through Friday's close, though they were trading up at $7.96 this time a year ago.
The clinical-stage biopharmaceutical company disclosed overnight that it has substantial doubt about its ability to continue as a going concern.
DBV said it has incurred operating losses and negative cash flows from operations since the company started, and that there currently isn't enough available cash and cash equivalents to support its operating plan for the next 12 months.
The company expects that its current cash load would only be enough to fund operations into April. DBV is seeking additional capital for R&D efforts, but can't guarantee that it will get enough financing to meet its needs, or financing with attractive terms and conditions.
DBV said it may have to scale back operations, delay or reduce its R&D efforts or relinquish rights to its product candidates if it can't meet its financing goals.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 24, 2025 08:11 ET (12:11 GMT)
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