MetaVia (MTVA) Registration Filing summary

Offering details and pricing

• Up to 919,681 Class A Units (each: 1 share, 1.5 Series C, 1.5 Series D warrants) or 919,681 Class B Units (each: 1 pre-funded warrant, 1.5 Series C, 1.5 Series D warrants) are offered at an assumed price of $8.155 per unit, based on the last Nasdaq close.

• Series C warrants are exercisable for five years; Series D for two years and callable under certain conditions; pre-funded warrants have a $0.001 exercise price and no expiration.

• The underwriters have a 45-day option to purchase up to 137,952 additional shares and/or 413,856 additional warrants.

• Estimated net proceeds are $6.0 million (or $7.0 million if the over-allotment is exercised), assuming no Class B Units are sold and no warrants are exercised.

• The offering is underwritten by Ladenburg Thalmann & Co. Inc.

Company overview and business model

• Clinical-stage biotechnology company focused on novel pharmaceuticals for cardiometabolic diseases, with lead programs in MASH and obesity.

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

• Vanoglipel has completed Phase 2a with positive topline results; DA-1726 is in Phase 1 with positive data and further dose escalation planned.

• Four legacy programs are not being advanced and are considered for out-licensing or divestiture.

Financial performance and metrics

• As of December 31, 2025 (preliminary, unaudited): cash and equivalents of ~$10.3 million, no debt.

• Net loss of $11.0 million for the nine months ended September 30, 2025; accumulated deficit of $146.9 million.

• R&D expenses decreased 62.5% year-over-year for the nine months ended September 30, 2025, reflecting lower clinical activity.

• Cash runway expected into Q3 2026 with proceeds from this offering.