Biopharmaceutical company Inventiva is down 5% on Wednesday's trading on the Paris Bourse, following the announcement of its quarterly results, which were marked by a need for refinancing that analysts believe is becoming imminent.

Inventiva - which generated no sales in the first quarter of 2024 - reports that its cash burn amounted to 10.3 million euros over the first three months of the year, compared with 8.4 million euros over the same period in 2023.

Its research and development (R&D) expenses soared by 82%, mainly due to costs associated with its Phase III clinical trial in MASH/NASH.

As of March 31, 2024, Inventiva had 11 million euros in cash and cash equivalents, an amount that should enable it to finance its activities until the start of the third quarter of 2024.

In a press release, the company explains that this results in significant uncertainty as to its ability to continue as a going concern, although it also says it is actively exploring financing options.

The first visit by the last patient in the Phase III clinical trial with lanifibranor is scheduled for the first half of 2024.

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