Neurobo Pharmaceuticals, Inc. ( (MTVA) ) has released its Q4 earnings. Here is a breakdown of the information Neurobo Pharmaceuticals, Inc. presented to its investors.
MetaVia Inc., formerly known as NeuroBo Pharmaceuticals, Inc., is a clinical-stage biotechnology company specializing in the development of treatments for cardiometabolic diseases, including obesity and Metabolic Dysfunction-Associated Steatohepatitis (MASH). The company is advancing its novel drug candidates DA-1726 and DA-1241, which target these conditions through innovative mechanisms of action.
In its latest earnings report, MetaVia highlighted significant progress in its clinical trials and financial performance for the year ending December 31, 2024. The company reported positive top-line results from its Phase 2a trial of DA-1241 for MASH and anticipates further data from its Phase 1 trial of DA-1726 for obesity in April 2025. Financially, MetaVia ended the fourth quarter with $16 million in cash, expected to fund operations into the third quarter of 2025.
Key financial metrics from 2024 include a notable increase in research and development expenses, which rose to $21.6 million from $9.2 million in 2023, largely due to higher clinical trial expenditures. General and administrative expenses also saw a slight increase, contributing to total operating expenses of $28.8 million. The company reported a net loss of $27.6 million for the year, compared to $12.5 million in the previous year, reflecting its intensified focus on advancing its clinical programs.
Strategically, MetaVia has realigned its focus on cardiometabolic diseases, reflected in its recent name change and the continued development of its drug candidates. The company remains optimistic about the potential of DA-1726 and DA-1241 to address unmet medical needs in obesity and MASH, respectively, and is planning further clinical studies to explore their efficacy and safety.
Looking ahead, MetaVia’s management is focused on advancing its clinical trials and engaging with regulatory authorities to bring its innovative treatments to market. The company is poised to present additional data at upcoming medical meetings and anticipates regulatory discussions in 2025, underscoring its commitment to transforming the treatment landscape for cardiometabolic diseases.