China and US agree to extend trade tariff truce, says Li
Investing.com -- DBV Technologies (NASDAQ:DBVT), a clinical-stage biopharmaceutical company, experienced a 10% drop in its American depositary receipts, trading at $4.48 in premarket trading on Monday.
This drop follows the company’s announcement that it is likely to run out of cash after next month. Despite a 61% increase in share value year-to-date through the close of last week, the stock was trading higher at $7.96 this time last year.
The company revealed that it has serious doubts about its ability to continue operating. DBV has been operating at a loss with negative cash flows since its inception.
The company also stated that it doesn’t currently have enough cash or cash equivalents to support its operational plan for the next year.
DBV Technologies expects its current cash reserves to only be sufficient to fund operations until April. The company is seeking additional capital for its research and development efforts.
However, it cannot guarantee that it will secure enough financing to meet its needs, or that the financing it does secure will come with favorable terms and conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.