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TheStreet Open House

DBV Announces Topline Financial Results For First Nine Months 2013 And Provides Safety Update On Viaskin(R) Peanut

BAGNEUX, France, Oct. 15, 2013 (GLOBE NEWSWIRE) -- DBV Technologies (Euronext:DBV) (ISIN: FR0010417345), creator of Viaskin®, a new standard in the treatment of allergy, announced today its topline financial results for first nine months 2013 and provided a clinical update on VIPES ( Viaskin Peanut's Efficacy and Safety), a randomized, Phase IIb clinical trial of Viakin Peanut in peanut allergic patients.

DBV initiated VIPES in August 2012, enrolling 221 peanut-allergic patients including children, adolescents and adults. The trial is being conducted in Europe and North America by 22 different investigators. During the second Data and Safety Monitoring Board meeting held on September 9, 2013, the independent members reviewed the safety data of all the 221 subjects randomized and treated in the VIPES study. The safety data reviewed covered duration of treatments from 1 month up to 11 months. The DSMB concluded that the VIPES study presented no safety concerns and recommended DBV to proceed with the study as per protocol. DBV anticipates reporting VIPES 12-month topline data during the second half of 2014. Viaskin® Peanut was granted Fast Track designation by the U.S. Food and Drug Administration (FDA).

Topline Financial Results for first nine months 2013

For the first nine months 2013, total revenues reached €2,535,963, up from €1,336,019 in the first six months, mainly driven by an increase in the Research Tax Credit amounting to €2,271,494 over the period, compared to €1,263,284 three months earlier. This significant increase stems from intense R&D activity. Revenues from Diallertest® stood at €73,840, which were stable over the period.

David Schilansky, Chief Financial Officer of DBV Technologies said: "In these first nine months, we have controlled our cash burn, limiting our total burn to €3 to €4m per quarter. With all of the clinical programmes now running full speed, we anticipate similar trends going forward."

As of September 30, 2013, DBV's cash position amounted to €27.6 million, compared with €32.3 million three months earlier.

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