DBV Technologies S.A. DBVT

Healthcare SIC 2836 - Biological Products, (No Diagnostic Substances) Nasdaq

DBV Technologies is a late-stage specialty biopharmaceutical company focused on changing the field of immunotherapy by developing a novel technology platform called Viaskin. Our therapeutic approach is based on epicutaneous immunotherapy, or EPIT, our proprietary method of delivering biologically active compounds to the immune system through intact skin using Viaskin, an epicutaneous patch (i.e., a skin patch). We have generated significant data demonstrating that Viaskin patch's mechanism of action is novel and differentiated. Viaskin patch targets antigen-presenting immune cells in the skin, called Langerhans cells, that capture the antigen and migrate to the lymph nodes in order to activate the immune system without passage of the antigen into the bloodstream, minimizing systemic exposure in the body. We are advancing this unique technology to treat children suffering from food allergies for whom safety is paramount since the introduction of the offending allergen into their bloodstream can cause severe or life-threatening allergic reactions, such as anaphylactic shock. We believe Viaskin technology may offer convenient, non-invasive immunotherapy to patients.

Last close 13.47 2026-09-04
Market cap $3.99B 2026-06-30 share count
52-week range 8.70 - 26.18

Valuation FY2025 figures against the last close

P/S707.6x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-1.05

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $5.6M$4.2M$15.7M$4.8M$5.7M$11.3M$14.7M
R&D $116.7M$89.3M$60.2M$75.5M$70.3M$101.6M$115.1M
SG&A $32.8M$28.7M$29.5M$24.3M$30.5M$35.1M$49.1M
Total operating expenses $152.7M$120.7M$92.2M$101.5M$104.3M$170.1M$185.7M
Operating income -$147.1M-$116.6M-$76.4M-$96.6M-$98.6M-$158.8M-$171.0M
Pre-tax income -$146.5M-$113.9M-$72.7M-$96.2M-$98.2M-$159.6M-$171.4M
Income tax $491.0K$55.0K$7.0K$70.0K$381.0K$10.0K$610.0K
Net income -$146.9M-$113.9M-$72.7M$96.3M-$97.8M-$159.6M-$172.0M
EPS, basic -1.05-1.17-0.76-1.24-1.78
EPS, diluted -1.05-1.17-0.76-1.24-1.78-2.95-4.65
Shares, diluted (wtd. avg.) $139.6M$97.0M$95.1M$77.4M$54.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $194.2M$32.5M$141.4M$209.2M$77.3M$196.4M$193.3M$140.6M
Receivables $0$0$0$2.2M
Inventory $0$2.3M
Total current assets $212.9M$44.4M$158.9M$223.1M$114.4M$207.4M$204.6M
Property, plant and equipment $10.4M$11.3M$12.6M$15.1M$18.1M$24.8M$25.0M$23.2M
Other intangibles $22.0K$40.0K$58.0K$10.0K$22.0K$41.0K$48.0K
Total assets $233.7M$65.7M$183.0M$246.5M$146.7M$272.2M$271.7M
Short-term debt $810.0K
Total current liabilities $58.0M$31.1M$37.3M$29.5M$31.4M$52.7M$54.0M
Long-term debt $510.0K$1.3M$1.5M$2.8M
Total liabilities $64.9M$38.3M$42.8M$52.1M$47.4M$66.8M$78.5M
Retained earnings -$393.1M-$286.4M-$238.9M-$259.6M-$258.5M-$958.5M-$799.0M
Total equity $168.8M$27.4M$140.2M$194.5M$99.3M$205.5M$193.2M$138.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow -$121.2M-$104.5M-$79.7M-$55.7M-$108.2M-$165.6M-$148.3M
Depreciation and amortisation $3.0M$2.7M$3.6M$2.7M$4.4M$4.4M
Stock-based compensation $5.4M$4.6M$6.0M$5.0M$3.1M-$1.1M$17.2M
Capital expenditure $532.0K$2.3M$677.0K$754.0K$910.0K$2.8M$5.6M
Investing cash flow -$1.4M-$757.0K-$808.0K-$100.0K-$433.0K-$2.9M-$5.7M
Financing cash flow $276.2M$587.0K$6.8M$194.1M$274.0K$149.5M$207.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-215657.

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