DBV Technologies SA - American (DBVT) AI Stock Analysis

• Market Cap: $1.14B
• Dividend Yield: N/A
• Average Volume (3M): 386.10K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.11
• Revenue Growth: N/A
• EPS Growth: 1.29%
• Country: US
• Employees: 106
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.24
• Shares Outstanding: 54,970,417
• 10 Day Avg. Volume: 205,301
• 30 Day Avg. Volume: 386,102
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.17
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.56
• Enterprise Value/Market Cap: 0.58
• Enterprise Value/Revenue: 1.29K
• Enterprise Value/Gross Profit: -51.04
• Enterprise Value/Ebitda: -5.66
• 1Y Price Target: $46.40
• Price Target Upside: 116.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: $22.50 ▲(4.85% Upside)

The score is held back primarily by very weak financial performance (minimal/declining revenue, large losses, and heavy ongoing cash burn implying financing risk). Offsetting this are strong clinical/corporate-event momentum from positive Phase 3 results with a planned BLA submission, and supportive technical trends with the stock trading above key moving averages.

Positive Factors

Phase 3 VITESSE / BLA plan

Positive Phase 3 topline and a stated plan to submit a BLA create a clear regulatory pathway toward approval. This materially de-risks the lead program, enhances the company's ability to secure partners or commercialization arrangements, and underpins potential future revenue streams and strategic optionality.

Low leverage / no debt

A near-zero debt profile gives the company financial flexibility to continue R&D and regulatory activities without immediate interest burden. Low leverage reduces refinancing risk while the business is pre-revenue, improving resilience during lengthy clinical development and potential future commercialization phases.

Board expertise added

Adding an experienced industry executive to the board strengthens governance and strategic capabilities as the company prepares for potential regulatory submission and commercialization. Improved strategic oversight can aid partner negotiations, trial execution, and launch planning over the medium term.

Negative Factors

Heavy cash burn

Sustained operating cash outflows near $100M annually imply ongoing reliance on external financing. Persistent burn elevates dilution and refinancing risk, constrains investment optionality, and could force unfavorable funding terms absent material partner deals or near-term regulatory milestones that justify capital raises.

Minimal and declining revenue

With virtually no product revenue and a sharp decline in top-line activity, the company lacks operating cash generation to fund development. This entrenches dependence on equity, debt, or partnerships for runway and makes the business model contingent on successful clinical outcomes and subsequent commercialization.

Equity erosion / dilution history

Material decline in shareholders' equity over recent years signals repeated losses and likely dilution to finance operations. This reduces the balance-sheet cushion, heightens funding vulnerability, and indicates future financing could further dilute holders if approval or partnership milestones are delayed.

DBV Technologies SA - American Business Overview & Revenue Model

Company Description

DBV Technologies S.A., a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its lead product candidate is Viaskin Peanut, an immunotherapy product, which has completed Phase III clinical trial for the treatment of peanut allergies in 4 to 11 years of age children, adolescents, and adults. The milk-induced company is also developing Viaskin Milk that is in Phase I/II clinical trial for the treatment of Immunoglobulin E (IgE) mediated cow's milk protein allergy (CMPA); Viaskin Egg, a pre-clinical stage product for the treatment of hen's egg allergy; and booster vaccine for Bordetella pertussis. Its other earlier stage research programs include a vaccine for the respiratory syncytial virus, as well as treatments for Crohn's disease, celiac disease, and type I diabetes. The company has a collaboration with Nestlé Health Science to develop MAG1C, a ready-to-use atopy patch test for the diagnosis of non-IgE mediated CMPA in infants and toddlers. DBV Technologies S.A. was incorporated in 2002 and is headquartered in Montrouge, France.

How the Company Makes Money

DBV Technologies generates revenue primarily through the development and commercialization of its therapeutic products, particularly those that leverage its Viaskin technology for treating food allergies. The company may receive funding through partnerships with other pharmaceutical firms for co-development agreements, licensing deals, or joint ventures that provide upfront payments, milestone payments, and royalties on sales. Additionally, DBV Technologies may obtain revenue through government grants and research funding aimed at supporting the development of its innovative therapies. The company's earnings are significantly influenced by the successful progression of its clinical trials and the eventual commercialization of its products.

DBV Technologies SA - American Financial Statement Overview

Summary

Financials remain very weak: revenue is minimal and sharply down, losses are large, and cash burn is heavy (TTM operating/free cash flow around -$98M). The main offset is a low-leverage balance sheet with zero debt TTM, but shrinking equity underscores ongoing funding risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue is very low ($0.5M) and down sharply (-67.72%), highlighting a weak commercial base. Profitability is deeply negative, with large operating losses and net losses (TTM net income of about -$125.5M), and margins are severely depressed due to minimal revenue against a high cost structure. While this is not unusual for development-stage biotech, the current trajectory shows limited operating leverage and heightened dependence on external funding.

Balance Sheet

Leverage is low: TTM shows no debt, and the latest annual periods also reflect modest debt levels relative to equity (debt-to-equity was ~0.28 in 2024 and lower in prior years). However, equity has fallen materially versus earlier years (from ~$205.5M in 2020 to ~$27.4M in 2024, then ~$52.9M TTM), consistent with ongoing losses and potential dilution/asset drawdown. Returns on equity are strongly negative across periods, signaling that capital is not currently generating earnings.

Cash Flow

Cash burn remains heavy and persistent: TTM operating cash flow is about -$98.3M and free cash flow is about -$98.3M, following similarly large outflows in prior years. The burn rate improved modestly versus 2024 (free cash flow growth is positive TTM), but the business is still consuming substantial cash with no clear self-funding capacity from operations. Overall cash flow profile implies continued reliance on financing to sustain R&D and operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	511.00K	0.00	15.73M	4.80M	5.71M	11.28M
Gross Profit	-12.87M	-6.81M	15.73M	-15.50M	-3.56M	11.28M
EBITDA	-116.13M	-110.99M	-63.27M	-76.68M	-91.16M	-124.83M
Net Income	-125.53M	-113.72M	-72.73M	-96.30M	-97.81M	-159.56M
Balance Sheet
Total Assets	110.50M	65.66M	182.99M	246.52M	146.32M	272.25M
Cash, Cash Equivalents and Short-Term Investments	69.84M	32.46M	141.37M	209.19M	77.30M	196.35M
Total Debt	0.00	7.80M	6.55M	4.15M	10.66M	15.47M
Total Liabilities	57.64M	38.27M	42.80M	52.06M	47.29M	66.75M
Stockholders Equity	52.85M	27.39M	140.19M	194.45M	99.03M	205.49M
Cash Flow
Free Cash Flow	-98.29M	-106.81M	-80.33M	-56.45M	-109.16M	-168.42M
Operating Cash Flow	-98.26M	-104.47M	-79.65M	-55.70M	-108.24M	-165.61M
Investing Cash Flow	139.00K	-757.00K	-808.00K	-100.00K	-433.00K	-2.87M
Financing Cash Flow	117.80M	587.00K	6.77M	194.10M	274.00K	149.55M

DBV Technologies SA - American Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.46
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DBVT, the sentiment is Positive. The current price of 21.46 is below the 20-day moving average (MA) of 22.27, above the 50-day MA of 20.42, and above the 200-day MA of 13.42, indicating a neutral trend. The MACD of 0.29 indicates Positive momentum. The RSI at 51.25 is Neutral, neither overbought nor oversold. The STOCH value of 22.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DBVT.

DBV Technologies SA - American Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DBVT	60 Neutral	$1.14B	-4.02	-234.64%	―	―	1.29%
PRTC	55 Neutral	$406.74M	9.93	14.55%	―	1268.81%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
KRRO	49 Neutral	$105.80M	-1.24	-63.46%	―	―	21.61%
FDMT	47 Neutral	$467.74M	-2.33	-45.38%	―	―	―
LXEO	46 Neutral	$459.09M	-2.32	-80.69%	―	―	4.97%
LRMR	45 Neutral	$252.49M	-1.61	-78.24%	―	―	-67.41%

DBV Technologies SA - American Corporate Events

DBV Technologies Reports Positive Phase 3 Trial Results

On December 16, 2025, DBV Technologies announced positive topline results from its Phase 3 VITESSE trial of the VIASKIN® Peanut Patch for treating peanut-allergic children aged 4 to 7 years. The trial met its primary endpoint, showing a statistically significant treatment effect, with 46.6% of children in the treatment group meeting the response criteria compared to 14.8% in the placebo group. The safety profile was consistent with previous studies, and the company plans to submit a Biologics License Application in the first half of 2026. This milestone triggers the acceleration of the exercise period for certain warrants, reflecting a significant advancement in DBV’s mission to provide a well-tolerated, non-invasive treatment option for peanut allergies.

The most recent analyst rating on (DBVT) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on DBV Technologies SA – American stock, see the DBVT Stock Forecast page.