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BAGNEUX, France, April 15, 2014 (GLOBE NEWSWIRE) -- DBV Technologies (Euronext: DBV - ISIN: FR0010417345), creator of Viaskin®, a new reference in the treatment of allergy, announced today its topline financial results, as well as its net cash position, for first three months 2014.
Topline Financial Results for first three months 2014
For the first three months 2014, total revenues reached €1,277,349, up from €796,101 for the same period in 2013. This sensible evolution primarily results from an increase in Research Tax Credit amounting to €1,227,140 over the period, compared to €794,903 a year earlier. This progression stems from the intense R&D activities conducted by DBV. The Company did not sell any Diallertest® to its commercial partner over the period.
Net cash position at 31 March 2014
As of 31 March 2014, DBV's cash position amounted to €34.6 million, compared with €39.4 million three months earlier. The cash burn therefore amounted to €4.8 million for the first three months 2014.
David Schilansky, Chief Financial Officer, commented:
"Six months away from phase II VIPES' results, a key step in the Company's development, and soon with 6 clinical programs running simultaneously, keeping control of our cash burn remains an important challenge for DBV. The cash burn for the first quarter was in line with our expectations, and illustrates our attention to contain the pace of our spending before Viaskin Peanut enters into phase III, as planned in 2015."
DBV Technologies will announce its financial results for the first six months on 28 July 2014.
About DBV Technologies:
DBV Technologies is developing Viaskin®, an innovative new approach to the treatment of allergies - a major public health issue that is constantly increasing in prevalence. Food allergies represent a true handicap in everyday life for millions of people, constituting a major unmet medical need. DBV Technologies, incorporated in France in 2002, has developed a proprietary, worldwide-patented technology for administering an allergen to intact skin while avoiding transfer to the blood. The Viaskin® technology combines efficacy and safety as part of a treatment that seeks to improve the patient's tolerability of peanuts, and thus considerably lowers the risk of a systemic, allergic reaction in the event of accidental exposure The product's clinically proven safety profile enables the application of effective desensitization techniques in the most severe forms of the allergy.