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MI

MetaVia Inc. (MTVA)·Q4 2024 Earnings Summary

Executive Summary

  • MetaVia reported full-year 2024 financials alongside Q4 2024 highlights; cash was $16.0M at December 31, 2024, with runway expected into the third quarter of 2025 .
  • Clinical catalysts drive the story: DA-1726 MAD Part 2 top-line data expected in April 2025, and DA-1241 Phase 2a delivered positive 16-week top-line results in December (ALT, CAP, HbA1c improvements), with an end-of-Phase 2 FDA meeting targeted in 1H 2025 .
  • The company rebranded from NeuroBo to MetaVia in November 2024 to focus on cardiometabolic disease, and completed last-patient visits in the two-part Phase 2a DA-1241 trial during Q4 2024 .
  • No quarterly revenue or EPS figures were disclosed for Q4 2024; Wall Street consensus estimates via S&P Global were unavailable for Q2–Q4 2024, limiting beat/miss analysis (Values retrieved from S&P Global).*

What Went Well and What Went Wrong

What Went Well

  • DA-1241 met the primary endpoint with statistically significant ALT reductions at weeks 4 and 8, plus secondary improvements in CAP and HbA1c, and was well tolerated (no drug-related SAEs) .
  • Management emphasized confidence in DA-1726’s potential to be best-in-class with superior tolerability vs GLP‑1s, and near-term top-line MAD Part 2 readout will provide an early efficacy view .
  • Operationally, Q4 highlights included completion of last patient visits for DA‑1241 Phase 2a and strategic realignment/rebranding to MetaVia (MTVA), aligning the corporate identity with cardiometabolic focus .

What Went Wrong

  • The company’s net loss widened materially YoY to $27.6M in 2024 (from $12.5M in 2023), driven by higher R&D and G&A, while other income decreased due to lower warrant liability gains .
  • Cash declined to $16.0M by year-end 2024 (from $22.4M in 2023), with runway only into 3Q 2025, heightening financing/dilution risk ahead of clinical milestones .
  • Lack of quarterly revenue/EPS disclosure and unavailable consensus estimates hindered traditional beat/miss analysis for Q4 2024, reducing near-term transparency for fundamental investors (Values retrieved from S&P Global).*

Financial Results

Annual Financials (YoY comparison)

MetricFY 2023FY 2024
Research & Development Expense ($USD Millions)$9.158 $21.553
General & Administrative Expense ($USD Millions)$6.728 $7.256
Total Operating Expenses ($USD Millions)$15.886 $28.809
Other Income ($USD Millions)$3.416 $1.217
Net Loss ($USD Millions)$12.470 $27.592
Loss per Share (Basic & Diluted)$2.46 $3.56
Weighted Avg Shares (Basic & Diluted)5,071,101 7,757,128
Cash ($USD Millions, period-end)$22.435 $16.017

Balance Sheet Snapshot (Q4 2024 period-end)

MetricQ4 2024
Cash ($USD Millions)$16.017
Total Assets ($USD Millions)$16.260
Total Current Liabilities ($USD Millions)$8.271
Total Liabilities ($USD Millions)$8.329
Total Stockholders’ Equity ($USD Millions)$7.931
Common Shares Outstanding (thousands)8,637

Notes:

  • The company did not report Q4 2024 revenue or EPS in the press release; results were presented on a full-year basis .

Segment Breakdown

  • Not applicable; MetaVia is a clinical-stage biotech without commercial segments .

KPIs (Clinical/Operational)

KPIQ4 2024
DA‑1241 Phase 2a topline summary (16-week)ALT significant reductions at weeks 4 and 8; CAP and HbA1c improved; well tolerated
DA‑1241 trial statusLast patient visit completed (Nov 2024)
Corporate brandingRebranded to MetaVia; began trading as MTVA (Nov 2024)
Cash runwayAdequate into 3Q 2025

Guidance Changes

MetricPeriodPrevious GuidanceCurrent GuidanceChange
Cash runwayThrough 3Q 2025Not previously specifiedAdequate to fund operations into 3Q 2025 New
DA‑1726 MAD Part 2 top-lineApril 2025“Expected shortly” April 2025 Timing tightened
DA‑1726 Phase 1 Part 3 (PoC) start4Q 2025Plan to commence 4Q 2025 First patient expected 4Q 2025 Maintained
DA‑1241 Phase 2a full dataset2025Additional findings to be submitted; awaiting more data Full dataset to be presented at a major medical meeting in 2025 Clarified
DA‑1241 FDA end-of-Phase 2 meeting1H 2025Not previously datedExpected 1H 2025 New

Earnings Call Themes & Trends

  • No Q4 2024 earnings call transcript was available; thematic tracking below leverages the Q4 press releases and the FY 2024 8‑K press release .
TopicPrevious Mentions (Q-2, Q-1)Current Period (Q4 2024)Trend
DA‑1241 efficacy in presumed MASHNot availableStatistically significant ALT reductions (weeks 4 & 8), CAP and HbA1c improvements; strong tolerability Positive efficacy momentum
DA‑1726 obesity programNot availableMAD Part 2 expanded; top-line data expected April 2025; positioning for best‑in‑class tolerability Advancing with near-term catalyst
Corporate strategy/brandingNot availableRebranded to MetaVia; ticker change to MTVA; cardiometabolic focus Strategic alignment complete
Financial runwayNot availableCash $16.0M; runway into 3Q 2025; likely financing need post‑runway Runway tightening
External engagementNot availableMASH‑TAG 2025 participation; Emerging Growth Conference presentation Increased visibility

Management Commentary

  • “Throughout 2024, we made exceptional progress advancing the clinical development of our two, next generation cardiometabolic assets… we remain confident that DA‑1726 has the potential to become a best‑in‑class obesity drug, offering superior tolerability compared to currently marketed GLP‑1 agonists… The top‑line data from the MAD Part 2 study, expected shortly, will give us an early read on clinical efficacy.” — Hyung Heon Kim, President & CEO .
  • “DA‑1241 met the primary endpoint… achieving a reduction in ALT levels through direct hepatic effects, along with key secondary endpoints, including significantly lower HbA1C levels compared to the placebo… DA‑1241 demonstrated excellent tolerability, with mostly mild adverse events and no drug‑related serious adverse events.” — Hyung Heon Kim .

Q&A Highlights

  • No Q4 2024 earnings call transcript was found; hence no Q&A disclosures are available. Analysis relies on press releases and the FY/Q4 8‑K press release .

Estimates Context

  • S&P Global Wall Street consensus EPS and revenue estimates were unavailable for MTVA for Q2 2024, Q3 2024, and Q4 2024, so beat/miss analysis versus consensus cannot be performed (Values retrieved from S&P Global).*

Key Takeaways for Investors

  • Cash runway into the third quarter of 2025 suggests a likely financing event ahead of key catalysts; position sizing should reflect potential dilution risk .
  • Near-term catalyst: DA‑1726 MAD Part 2 top-line data in April 2025 could be stock-moving; tolerability profile versus GLP‑1 agents is central to management’s best‑in‑class narrative .
  • DA‑1241 Phase 2a delivered clinically relevant biomarker improvements (ALT, CAP, HbA1c) with strong tolerability; upcoming full dataset and EoP2 meeting in 1H 2025 frame the regulatory path .
  • Operating loss accelerated YoY with R&D nearly doubling; cash declined YoY, underscoring the need for disciplined capital planning into late 2025 .
  • Strategic rebranding to MetaVia and cardiometabolic focus sharpen the story; investor outreach through conferences expands visibility to potential partners and investors .
  • Lack of quarterly revenue/EPS disclosure and unavailable consensus estimates complicate near-term fundamental comparison; investors should anchor the thesis on clinical milestones and cash runway (Values retrieved from S&P Global).*

References:

  • Q4/FY 2024 8‑K press release and financial tables .
  • DA‑1241 Phase 2a positive topline results press release (Dec 18, 2024) .
  • MASH‑TAG 2025 participation press release (Dec 19, 2024) .
  • Emerging Growth Conference announcement (Dec 2, 2024) .

Disclaimer: *Values retrieved from S&P Global.