net income -$13.0M. MetaVia extends cash runway to Q4 2026 via + equity raises; warrant overhang drops 53.0%

Filed March 26, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 20, 2025 · ~1 min read

Key Changes

• high

  Cash runway extended from Q3 2025 to Q4 2026 through January 2026 public offering and May 2025 private placement with strategic partners Dong-A ST and Dong-A Holdings, providing approximately $1.00 five additional quarters of operating capital.

  MD&A: Liquidity verify on EDGAR →
• high

  Outstanding warrants declined 95% year-over-year from 14.5 million shares to 722,644 shares, materially reducing potential future dilution from warrant exercises.

  MD&A: Outstanding Warrants verify on EDGAR →
• high

  January 2026 offering included 3.7 million shares underlying pre-funded warrants, Series C and Series D Common Warrants, representing the primary source of extended liquidity.

  MD&A: January 2026 Public Offering verify on EDGAR →