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PARIS - Biopharmaceutical company Inventiva (Euronext Paris and Nasdaq:IVA) announced Thursday the resumption of trading for its ordinary shares on Euronext Paris as of 4:30 p.m. CET. The clinical-stage firm, currently valued at $542 million, has seen its shares surge 89% year-to-date according to InvestingPro data.
The company had requested a trading halt earlier in the day, beginning at 9:00 a.m. CET, to facilitate the allocation process and pricing announcement for its public offering of American Depositary Shares (ADS) in the United States.
Each ADS in the offering represents one new ordinary share of Inventiva with a nominal value of €0.01. The offering was conducted exclusively in the United States market.
Inventiva is currently focused on the development of oral small molecule therapies for metabolic dysfunction-associated steatohepatitis (MASH). The company's lead drug candidate, lanifibranor, a pan-PPAR agonist, is being evaluated in the NATiV3 pivotal Phase 3 clinical trial for adult MASH patients. Despite its strong liquidity position with a current ratio of 2.96, InvestingPro analysis indicates the company is quickly burning through cash, a common challenge for clinical-stage biotech firms.
The clinical-stage biopharmaceutical firm maintains dual listings on compartment B of Euronext Paris and on the Nasdaq Global Market in the United States.
According to the company's press release statement, the securities offered as part of this offering have not been and will not be offered or sold to the public in France, except under specific conditions to qualified investors as defined by French financial regulations.
In other recent news, Inventiva has successfully raised approximately $150 million through a public offering of 38.96 million American Depositary Shares at $3.85 per share. This funding is intended to support the company's work on the MASH treatment. Piper Sandler has reiterated an Overweight rating for Inventiva, maintaining a price target of $26.00, and expressed optimism about the company's lead drug candidate, lanifibranor, particularly in its ongoing Phase 3 NATiV3 trial. H.C. Wainwright has raised its price target for Inventiva from $20.00 to $24.00, continuing to support a Buy rating on the stock. Stifel also reiterated its Buy rating and a $17.00 price target, emphasizing lanifibranor's unique profile and multi-targeted approach to addressing metabolic dysfunction-associated steatohepatitis and liver fibrosis. Additionally, H.C. Wainwright assumed coverage of Inventiva with a Buy rating, noting the FDA's recent acceptance of a letter of intent for liver stiffness measurement as a surrogate endpoint. These developments underscore the growing confidence among analysts in Inventiva's potential within the therapeutic space.
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