MetaVia (NASDAQ:MTVA), a clinical-stage biopharmaceutical company developing novel therapies for obesity and metabolic-associated steatohepatitis (MASH), today reported financial results for the full year ended December 31, 2025, and provided an update on its advancing clinical pipeline.
The company’s fiscal year was marked by robust efficacy signals from its lead weight-loss program and a strategic recapitalization intended to support its upcoming mid-stage milestones.
The centerpiece of the update is the clinical performance of DA-1726, MetaVia’s oxyntomodulin analogue acting as a dual GLP-1 and glucagon receptor agonist.
In a Phase 1 multiple ascending dose study, the 48 mg cohort demonstrated approximately 9.1% weight loss alongside improved glucose control and a measurable reduction in liver stiffness.
Building on these results, the company has received IRB approval for a Part 3 titration study, with dosing expected to commence in April 2026 and topline data anticipated in the fourth quarter of 2026.
In addition to its obesity program, MetaVia reported positive Phase 2a results for Vanoglipel.
The study met its primary objectives, showing clinically meaningful improvements in metabolic markers and liver health among patients with MASH.
These findings reinforce the dual-action potential of MetaVia’s portfolio in addressing the interrelated challenges of weight management and chronic liver disease.
Financially, MetaVia ended the year with $10.3 million in cash and equivalents.
To address its tightened liquidity, the company completed a registered direct offering in January 2026, generating approximately $9.3 million in gross proceeds.
Management expects these combined resources to fund operations into the fourth quarter of 2026, providing the necessary runway to reach the next data inflection point for the DA-1726 program.