- Inventiva (NASDAQ: IVA), a clinical-stage biopharmaceutical company, remains focused on lanifibranor and its Phase 3 NATiV3 trial in MASH.
- The company expects topline results from NATiV3 in the fourth quarter of 2026, following completion of the last patient's final 72-week visit.
- Inventiva reported €166.1 million in cash and cash equivalents, plus €67.8 million in short-term deposits, as of June 30, 2026.
Inventiva (NASDAQ: IVA) is a clinical-stage biopharmaceutical company developing lanifibranor, an oral pan-PPAR agonist for metabolic dysfunction-associated steatohepatitis, or MASH. The company's main near-term catalyst is the Phase 3 NATiV3 clinical trial.
On September 2, 2026, Inventiva announced that the last patient had completed the final 72-week visit in the NATiV3 trial. The study enrolled 1,009 adults with biopsy-proven non-cirrhotic MASH and F2/F3 fibrosis, plus 410 patients in an exploratory cohort. Inventiva expects topline NATiV3 results in the fourth quarter of 2026. If results are favorable, the company anticipates regulatory submission in the first half of 2027 and is preparing for a possible U.S. launch in 2028, subject to FDA approval.
On September 28, 2026, Inventiva reported unaudited financial results for the first half of 2026. Revenue was minimal at €20 thousand for the six months ended June 30, 2026, compared with €4.45 million in the prior-year period. The company reported a net loss of €69.5 million, improving from a net loss of €175.9 million in the first half of 2025. Basic and diluted loss per share was €0.25.
Inventiva's balance sheet remains central to the investment case. As of June 30, 2026, the company had €166.1 million in cash and cash equivalents and €67.8 million in short-term deposits. Based on its existing resources and completed financing transactions, the company expects to fund operations as currently planned until the end of the second quarter of 2027.
Investors should still note the financing risk. Inventiva stated that current cash and cash equivalents alone were not sufficient to cover operating needs for the next twelve months. If additional financing components are completed, including potential Tranche C debt financing and warrant exercises, the company expects its runway could extend to the start of the first quarter of 2028.
It shows a current ratio of 3.16 and a price-to-sales ratio of about 134.99. The stock was trading lower on September 29, 2026, while analysts still carried a consensus Buy rating and an average price target of $15.75.
