Delphine Le Louet

Evan Wang

Jean-Jacques Le Fur

Jeroen Van den Bossche

Lucy-Emma Codrington-Bartlett

- Inventiva S.A. reported a **net loss of €175.9 million** for the first half of 2025, a significant increase from the €49.0 million net loss in the first half of 2024, primarily due to a **€113.2 million net financial loss**.  **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:13]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:21]** 
- The company completed patient enrollment in its **NATiV3 Phase 3 clinical trial** for lanifibranor on **April 1, 2025**, with topline results for Part 1 targeted for the **second half of 2026**.  **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:5]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:25]** 
- In February 2025, Inventiva S.A. implemented a Strategic Pipeline Prioritization Plan to focus exclusively on lanifibranor development, which included a **workforce reduction of approximately 50%**.  **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:5]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:26]** 
- Inventiva S.A. secured the **€116 million second tranche** of its structured financing on May 5, 2025, and received a **$10 million milestone payment** from CTTQ on **July 7, 2025**, contributing to **€4.5 million in revenues** for the first half of 2025.  **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:5]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:26]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:32]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:8]** 
- As of June 30, 2025, the company held **€122.1 million in cash and cash equivalents**.  **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:13]** **[1756594_0001104659-25-099317_tm2528355d3_ex99-2.htm:32]**

Inventiva S.A. Reports Increased Net Loss in H1 2025 Amid Strategic Restructuring and Financing Activities

- **Inventiva (IVA) recently appointed Andrew Ovenshain as CEO** and strengthened its management team, following a **$400+ million PIPE** raise approximately a year ago.  **[0001756594_2172561_0]** 
- The global Phase 3 NATIVE 3 trial for its MASH therapy, lanifibranor, was **fully enrolled in April 2025**, with **top-line results anticipated in the second half of 2026** and a commercial launch targeted for **2028**.  **[0001756594_2172561_0]** **[0001756594_2172561_1]** **[0001756594_2172561_2]** **[0001756594_2172561_7]** **[0001756594_2172561_21]** 
- Lanifibranor, a pan-PPAR agonist, showed an **18% improvement in fibrosis in six months** in Phase 2b data and is positioned to address the significant unmet need in the MASH market, which is currently **10% diagnosed out of 18 million US patients**.  **[0001756594_2172561_1]** **[0001756594_2172561_4]**

Inventiva Provides Update on Lanifibranor Phase 3 Trial and Management Changes

- **Inventiva** announced the appointment of **Andrew Obenshain** as its new **Chief Executive Officer (CEO)**, effective **October 1, 2025**.  **[1756594_0001171843-25-006205_exh_991.htm:0]** 
- Mr. Obenshain will also join the Company’s Board of Directors.  **[1756594_0001171843-25-006205_exh_991.htm:0]** 
- He succeeds co-founder **Frédéric Cren**, who served as CEO for **13 years** and is also stepping down from the Board of Directors.  **[1756594_0001171843-25-006205_exh_991.htm:0]** 
- This leadership transition is a strategic decision to support Inventiva's next stage of growth, with a focus on preparing for potential commercialization in the United States for MASH and building a global footprint.  **[1756594_0001171843-25-006205_exh_991.htm:0]** 
- Mr. Obenshain brings over **20 years** of global leadership experience in drug development, regulatory strategy, and commercialization, including his previous role as CEO of bluebird bio.  **[1756594_0001171843-25-006205_exh_991.htm:0]**

Inventiva Appoints Andrew Obenshain as CEO

- Inventiva announced the appointment of **Andrew Obenshain** as its new Chief Executive Officer, effective **October 1, 2025**.  **[1756594_b768de1608084604a9c49490ca6ce440_0]** 
- Mr. Obenshain succeeds co-founder **Frédéric Cren**, who served as CEO since the company's inception in **2012**.  **[1756594_b768de1608084604a9c49490ca6ce440_0]** 
- This leadership transition is a strategic decision to support Inventiva's next stage of growth, with a particular focus on preparing for potential **commercialization in the United States** and expanding its global footprint.  **[1756594_b768de1608084604a9c49490ca6ce440_0]** 
- Andrew Obenshain brings over **20 years** of global leadership experience in drug development, regulatory strategy, and commercialization, having previously been the CEO of **bluebird bio**.  **[1756594_b768de1608084604a9c49490ca6ce440_1]**

Inventiva Appoints New Chief Executive Officer

- Inventiva reported **€4.5 million in revenues** for the first half of 2025, a significant increase from the same period in 2024, and a **net loss of €(175.9) million** for the period ended June 30, 2025.  **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:0]** **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:2]** 
- As of June 30, 2025, the company held **€122.1 million in cash and cash equivalents** and **€24.6 million in short-term deposits**, with a cash runway currently planned until the **end of the third quarter of 2026**.  **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:0]** **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:2]** 
- The company completed enrollment for its pivotal Phase 3 NATiV3 clinical trial in **April 2025**, with topline results anticipated in the **second half of 2026**.  **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:0]** **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:3]** 
- Inventiva reinforced its financial position by receiving **€115.6 million** in gross proceeds from the second tranche of its structured financing in May 2025 and implemented a pipeline prioritization plan in February 2025, including a **50% workforce reduction**, to focus exclusively on lanifibranor development.  **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:0]** **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:2]** **[1756594_0001104659-25-094101_iva-20250630xex99d2.htm:3]** **[1756594_0001104659-25-094101_iva-20250630xex99d1.htm:4]**

Inventiva Reports H1 2025 Financial Results and Corporate Update

- Inventiva reported **revenues of €4.5 million** and a **net loss of (€175.9) million** for the first half of 2025.  **[1756594_d840e4b069804f968565f5fd256c75b8_1]** 
- As of June 30, 2025, cash and cash equivalents, including short-term deposits, amounted to **€146.7 million**, with a cash runway planned until the **end of the third quarter of 2026**.  **[1756594_d840e4b069804f968565f5fd256c75b8_0]** 
- The company received **€115.6 million** from the second tranche of its structured financing in May 2025, following the **completion of enrollment** for the Phase 3 NATiV3 clinical trial in April 2025.  **[1756594_d840e4b069804f968565f5fd256c75b8_0]** **[1756594_d840e4b069804f968565f5fd256c75b8_3]** **[1756594_d840e4b069804f968565f5fd256c75b8_4]** 
- Topline results for the NATiV3 trial are **expected in the second half of 2026**.  **[1756594_d840e4b069804f968565f5fd256c75b8_0]** **[1756594_d840e4b069804f968565f5fd256c75b8_5]** 
- Inventiva is implementing a pipeline prioritization plan, which includes a **workforce reduction of approximately 50%**.  **[1756594_d840e4b069804f968565f5fd256c75b8_4]**