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On Wednesday, Stifel analysts reiterated their Buy rating and $17.00 price target for Inventiva SA (NASDAQ:IVA), following the announcement of a major achievement in the company’s clinical development. According to InvestingPro data, analysts maintain a strong bullish consensus with price targets ranging from $3 to $20, suggesting significant upside potential from the current price of $2.94. Inventiva has successfully completed the enrollment for its Phase 3 NATiV3 trial of lanifibranor, also known as Lani™, for the treatment of MASH, a form of non-alcoholic steatohepatitis.
The NATiV3 trial has not only met but exceeded its enrollment targets, with 1,009 patients included in the main analysis cohort, targeting F2-F3 fibrosis stages, and an additional 410 patients in an exploratory cohort. The latter group, composed of non-F2-F3 screen failures, will provide further non-invasive efficacy and safety data to support future regulatory submissions.
Stifel’s optimism is bolstered by multiple positive safety reviews from an independent Data Monitoring Committee (DMC) and a blinded interim review in September 2024 that showed improving trends on multiple key biomarkers. These factors contribute to the belief that the NATiV3 trial is likely to replicate the positive results of the Phase 2b NATIVE trial, with topline results anticipated in the second half of 2026.
The completion of enrollment ahead of the April 30th deadline and confirmation of a discontinuation rate below 30% before Week 72 have satisfied all the clinical conditions (excluding administrative) needed to unlock the second tranche of Inventiva’s structured financing agreement, amounting to €116 million. This funding is crucial for extending Inventiva’s cash runway to the third quarter of 2026, providing the company with the necessary resources to achieve the NATiV3 topline readout. With a current market capitalization of $289.34 million and a "WEAK" overall financial health score according to InvestingPro, this funding comes at a critical time. The platform offers 4 additional key insights about Inventiva’s financial position and growth prospects.
The NATiV3 trial’s comprehensive scope, encompassing approximately 1,400 patients across all fibrotic stages, positions Inventiva to collect a robust data set. This data will help to create an extensive clinical profile for Lani across the MASH spectrum, including potential combination treatments with GLP-1s, upon the study’s completion. The market has responded positively to these developments, with the stock showing impressive gains of over 56% in the past six months, though it remains approximately 26% below its 52-week high of $3.98.
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