MetaVia (MTVA) Registration Filing summary

Offering details and pricing

• The offering consists of up to 1,569,037 Class A Units (each with one share of common stock and one Series C Common Warrant) or up to 1,569,037 Class B Units (each with one pre-funded warrant and one Series C Common Warrant).

• The assumed public offering price is $9.56 per Class A Unit, based on the last reported sale price on Nasdaq as of January 2, 2026.

• Each Series C Common Warrant is exercisable immediately, has a five-year term, and an exercise price to be set at pricing.

• The underwriters have a 45-day option to purchase up to 235,355 additional shares and/or Series C Common Warrants.

• Ladenburg Thalmann & Co. Inc. is the sole underwriter.

Company overview and business model

• Clinical-stage biotechnology company focused on novel pharmaceuticals for cardiometabolic diseases, primarily MASH and obesity.

• Lead programs: Vanoglipel (DA-1241), a GPR119 agonist for MASH and T2DM, and DA-1726, a GLP1R/GCGR dual agonist for obesity.

• Four legacy programs in viral, neurodegenerative, and cardiometabolic diseases are not being advanced and are considered for out-licensing.

Financial performance and metrics

• As of December 31, 2025, preliminary unaudited cash and cash equivalents are approximately $10.3 million, with no outstanding debt.

• For the nine months ended September 30, 2025, net loss was $11.0 million, down from $22.4 million in the prior year period.

• For the year ended December 31, 2024, net loss was $27.6 million, up from $12.5 million in 2023, reflecting increased R&D and G&A expenses.

• Accumulated deficit as of September 30, 2025, was $146.9 million.

• The company expects the offering proceeds, together with existing cash, to fund operations into Q4 2026.