{"id":755393,"date":"2023-05-04T19:21:09","date_gmt":"2023-05-04T23:21:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/dbv-technologies-reports-first-quarter-2023-financial-results\/"},"modified":"2023-05-04T19:21:09","modified_gmt":"2023-05-04T23:21:09","slug":"dbv-technologies-reports-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/dbv-technologies-reports-first-quarter-2023-financial-results\/","title":{"rendered":"DBV Technologies Reports First Quarter 2023 Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"right\">Montrouge, France, May 4, 2023<\/p>\n<p align=\"left\">\n        <strong>DBV Tech<\/strong><br \/>\n        <strong>nolo<\/strong><br \/>\n        <strong>gies Reports <\/strong><br \/>\n        <strong>First Quarter<\/strong><br \/>\n        <strong> 2023<\/strong><br \/>\n        <strong> Financial Results<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:left\">\n          <strong>DBV <\/strong><br \/>\n          <strong>closes Q1 2023 with cash <\/strong><br \/>\n          <strong>and cash equivalents <\/strong><br \/>\n          <strong>of <\/strong><br \/>\n          <strong>$192.3 million<\/strong><br \/>\n          <strong>.<\/strong><\/p>\n<\/li>\n<\/ul>\n<p align=\"justify\">DBV Technologies (Euronext: DBV \u2013 ISIN: FR0010417345 \u2013 Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today reported financial results for the first quarter of 2023. The quarterly financial statements were approved by the Board of Directors on May 4, 2023.<\/p>\n<p align=\"justify\">\n        <strong>Financial Highlights for the<\/strong><br \/>\n        <strong> First Quarter and the Three Months Ended March 31<\/strong><br \/>\n        <strong>, 2023<\/strong>\n      <\/p>\n<p align=\"justify\">The Company\u2019s unaudited consolidated financial statements for the three months ended March 31, 2023, are prepared in accordance with generally accepted accounting principles in the U.S. (\u201cU.S. GAAP\u201d).<\/p>\n<p align=\"justify\">\n        <strong>Cash and cash Equivalents<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:446.55pt;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"width:368.6px;text-align: justify;vertical-align: middle;text-align: justify;vertical-align: middle;vertical-align: middle;text-align: justify;vertical-align: middle\">  (in millions of USD)<\/p>\n<p>   \u00a0  <\/td>\n<td colspan=\"2\" style=\"width:226.8px;text-align: center;vertical-align: middle;vertical-align: middle\">  Three months ended March 31,  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  2023  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  2022  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Net cash &amp; cash equivalents at the beginning of the period<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>209.2<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>77.3<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Net <\/strong><br \/>\n            <strong>increa<\/strong><br \/>\n            <strong>s<\/strong><br \/>\n            <strong>e<\/strong><br \/>\n            <strong>\/(decrease) in cash &amp; cash equivalents, of which:<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(16.9)<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>3.2<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flow used in operating activities  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  (20.8)  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  (1.5)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flow provided by \/ (used in) investing activities  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flow provided by \/ ((used in) financing activities  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.1)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  Effect of exchange rate changes on cash &amp; cash equivalents  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  3.9  <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  (1.6)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:368.6px;text-align: left;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>Net cash &amp; cash equivalents at the end of the period<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>192.3<\/strong>\n          <\/td>\n<td style=\"width:113.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>7<\/strong><br \/>\n            <strong>4.1<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Cash and cash equivalents amounted to $192.3 million as of March 31, 2023, compared to $209.2 million as of December 31, 2022, which is a net decrease of $16.9 million due to:<\/p>\n<p align=\"justify\">(1)\u00a0\u00a0\u00a0$20.8 million of cash used for operations, mainly driven by the impact of the initiation of the VITESSE trial in early March 2023. Cash used for operations increased by $19.3 million compared to the same quarter last year. During the first quarter of 2022, the Company received $20.9 million from French tax authorities as reimbursement of 2019 and 2020 research tax credits.<\/p>\n<p>(2)\u00a0\u00a0\u00a0Partially offset by a $3.9 million positive impact of changes in exchange rates. The Company\u2019s treasury position, stated in US Dollars, has been impacted by an appreciation of the Euro against the US Dollar during the first quarter of 2023.<\/p>\n<p align=\"justify\">\n        <strong>Operating <\/strong><br \/>\n        <strong>I<\/strong><br \/>\n        <strong>ncome<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:441.85pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:283.54px;text-align: justify;vertical-align: middle;vertical-align: middle\">  In millions of USD  <\/td>\n<td colspan=\"4\" style=\"width:305.6px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;vertical-align: middle\">  \u00a0  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2022<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"width:152.8px;text-align: center;vertical-align: middle;vertical-align: middle\">  Variation  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;vertical-align: middle\">  Research tax credits  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  1.8  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  1.5  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  +0.3  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  +20%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  Other operating income  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  0.4  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  1.0  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  -0.6  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  -60%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>Operating income<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>2.2<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>2.<\/strong><br \/>\n            <strong>5<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>-0<\/strong><br \/>\n            <strong>.<\/strong><br \/>\n            <strong>3<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>-1<\/strong><br \/>\n            <strong>2<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Operating income amounts to $2.2 million as of March 31, 2023, compared to $2.5 million as of March 31, 2022, which is a decrease of $0.3 million due to:<\/p>\n<p align=\"justify\">(1)\u00a0\u00a0\u00a0$0.3 million increase in the Research Tax Credit estimate as research and development costs increased during the first quarter in 2023 compared to the same quarter in 2022, mainly due to the initiation of the VITESSE trial.<\/p>\n<p>(2)\u00a0\u00a0\u00a0Offset by a $0.6 million decrease in other operating income that consists of revenues recognized in advance of the completion of the collaboration agreement with Nestl\u00e9 Health Science (\u201cNHS\u201d).<\/p>\n<p align=\"justify\">\n        <strong>Operating Expenses<\/strong><br \/>\n        <strong>\u00a0<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:441.85pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:283.54px;text-align: justify;vertical-align: middle;vertical-align: middle\">  In millions of USD  <\/td>\n<td colspan=\"4\" style=\"width:305.6px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;vertical-align: middle\">  \u00a0  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2022<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"width:152.8px;text-align: center;vertical-align: middle;vertical-align: middle\">  Variation  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;vertical-align: middle\">  Research &amp; Development  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  16.0  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  12.2  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  +3.8  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  +31%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;vertical-align: middle\">  Sales &amp; Marketing  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  0.4  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  0.5  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  -0.1  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  -20%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  General &amp; Administrative  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  6.9  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  6.6  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  +0.3  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  +5%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>Operating expenses<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>2<\/strong><br \/>\n            <strong>3.3<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>19.3<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>+4.0<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>+21<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Operating expenses amounted to $23.3 million as of March 31, 2023, compared to $19.3 million as of March 31, 2022, which is an increase by $4.0 million mainly driven by research and development expenses to support initiation of the VITESSE trial.<\/p>\n<p align=\"justify\">\n        <strong>Net Loss and Net Loss per Share<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:441.85pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:283.54px;vertical-align: middle\">  \u00a0  <\/td>\n<td colspan=\"4\" style=\"width:305.6px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;vertical-align: middle\">  \u00a0  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>2022<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"width:152.8px;text-align: center;vertical-align: middle;vertical-align: middle\">  Variation  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net income \/ (loss) (in millions of USD)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (20.5)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (16.7)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  -3.8  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  -23%  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:283.54px;text-align: left;vertical-align: middle;vertical-align: middle\">  Basic \/ diluted net income \/ (loss) per share (USD\/share)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.22)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.30)  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  +0.1  <\/td>\n<td style=\"width:76.4px;text-align: center;vertical-align: middle;vertical-align: middle\">  +27%  <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Net result for the three months ended March 31, 2023 is a loss amounting to $20.5 million, compared to a loss amounting to $16.7 million for the same period in 2022.<\/p>\n<p align=\"justify\">On a per share basis, net loss (based on the weighted average number of shares outstanding over the period) is $0.22 for the three months ended March 31, 2023.<\/p>\n<p align=\"left\">\n        <strong>CONDENSED STATEMENT OF CONSOLIDATED FINANCIAL POSITION<\/strong><br \/>\n        <strong> (unaudited)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:446.55pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:321.34px;text-align: justify;vertical-align: middle;vertical-align: middle\">  In millions of USD  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>March 31, <\/strong><br \/>\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>December 31, <\/strong><br \/>\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>232.9<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>246.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  of which cash &amp; cash equivalents  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  192.3  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  209.2  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Liabilities<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>53.8<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>52.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>179.1<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>194.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  of which net result  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  (20.5)  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  (96.3)  <\/td>\n<\/tr>\n<\/table>\n<p align=\"left\">\n        <strong>CONDENSED STATEMENT OF CONSOLIDATED OPERATIONS AND COMPREHENSIVE LOSS<\/strong><br \/>\n        <strong> (unaudited)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:446.55pt;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"width:321.34px;text-align: justify;vertical-align: middle;text-align: justify;vertical-align: middle;vertical-align: middle;text-align: justify;vertical-align: middle\">  In millions of USD<\/p>\n<p>   \u00a0  <\/td>\n<td colspan=\"2\" style=\"width:274.07px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three months ended <\/strong><br \/>\n            <strong>March<\/strong><br \/>\n            <strong> 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>202<\/strong><br \/>\n            <strong>3<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>202<\/strong><br \/>\n            <strong>2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Revenues<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>2.2<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">\n            <strong>2.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  Research &amp; Development  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  (16.0)  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  (12.2)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  Sales &amp; Marketing  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.4)  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.5)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  General &amp; Administrative  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  (6.9)  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  (6.6)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  Restructuring income\/(expenses)  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:137.07px;vertical-align: middle\">  \u00a0  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Operating expenses<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>23.<\/strong><br \/>\n            <strong>3<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(1<\/strong><br \/>\n            <strong>9.3<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;vertical-align: middle\">  Finance income\/(expenses)  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;vertical-align: middle\">  0.6  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;vertical-align: middle\">  0,2  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  Income tax  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">  (0.1)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>Net gain\/(loss)<\/strong>\n          <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>20.<\/strong><br \/>\n            <strong>5<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>16.7<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:321.34px;text-align: left;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  Basic\/diluted net gain\/(loss) per share attributable to shareholders  <\/td>\n<td style=\"width:137px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (0.22)  <\/td>\n<td style=\"width:137.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (0.30)  <\/td>\n<\/tr>\n<\/table>\n<p align=\"left\">\n        <strong>CO<\/strong><br \/>\n        <strong>NDENSED STATEMENT OF CONSOLIDATED CASH FLOW<\/strong><br \/>\n        <strong> (unaudited)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:446.55pt;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"width:330.8px;text-align: justify;vertical-align: middle;text-align: justify;vertical-align: middle;vertical-align: middle;text-align: justify;vertical-align: middle\">  In millions of USD<\/p>\n<p>   \u00a0  <\/td>\n<td colspan=\"2\" style=\"width:264.6px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Three months ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>202<\/strong><br \/>\n            <strong>3<\/strong>\n          <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>202<\/strong><br \/>\n            <strong>2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flows provided \/ (used) in operating activities  <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (20.8)  <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: middle\">  (1.5)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flows provided \/ (used) in investing activities  <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash flows provided \/ (used) in financing activities  <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;vertical-align: middle\">  &#8211;  <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;vertical-align: middle\">  (0.1)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">  Effect of exchange rate changes on cash &amp; cash equivalents  <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;vertical-align: middle\">  3.9  <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;vertical-align: middle\">  (1.6)  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>Net increase \/ (decrease) in cash &amp; cash equivalents<\/strong>\n          <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>1<\/strong><br \/>\n            <strong>6.9<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(<\/strong><br \/>\n            <strong>3.<\/strong><br \/>\n            <strong>2<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;vertical-align: middle\">  Net cash &amp; cash equivalents at the beginning of the period  <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;vertical-align: middle\">  209.2  <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;vertical-align: middle\">  77.3  <\/td>\n<\/tr>\n<tr>\n<td style=\"width:330.8px;text-align: left;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>Net cash &amp; cash equivalents at the end of the period<\/strong>\n          <\/td>\n<td style=\"width:132.27px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>192.3<\/strong>\n          <\/td>\n<td style=\"width:132.34px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>7<\/strong><br \/>\n            <strong>4.1<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>About DBV Technologies<\/strong><br \/>\n        <br \/>DBV Technologies is developing Viaskin\u2122, an investigational proprietary technology platform with broad potential applications in immunotherapy. Viaskin is based on epicutaneous immunotherapy, or EPIT\u2122, and is DBV Technologies\u2019 method of delivering biologically active compounds to the immune system through intact skin. With this new class of non-invasive product candidates, the Company is dedicated to safely transforming the care of food allergic patients. DBV Technologies\u2019 food allergies programs include ongoing clinical trials of Viaskin Peanut. DBV Technologies has global headquarters in Montrouge, France, and North American operations in Basking Ridge, NJ. The Company\u2019s ordinary shares are traded on segment B of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345) and the Company\u2019s ADSs (each representing one-half of one ordinary share) are traded on the Nasdaq Global Select Market (Ticker: DBVT).<\/p>\n<p align=\"justify\">\n        <strong>Forward Looking Statements<\/strong><br \/>\n        <br \/>This press release may contain forward-looking statements and estimates, including statements regarding DBV\u2019s financial condition and planned clinical efforts. These forward-looking statements and estimates are not promises or guarantees and involve substantial risks and uncertainties. At this stage, DBV\u2019s product candidates have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, including the impact of the COVID-19 pandemic, and DBV\u2019s ability to successfully execute on its budget discipline measures. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in DBV\u2019s regulatory filings with the French Autorit\u00e9 des March\u00e9s Financiers (\u201cAMF\u201d), DBV\u2019s filings and reports with the U.S. Securities and Exchange Commission (\u201cSEC\u201d), including in DBV\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 2, 2023, and future filings and reports made with the AMF and SEC by DBV. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release.<\/p>\n<p align=\"justify\">\n        <strong>Investor Contact <\/strong><br \/>\n        <br \/>Anne Pollak<br \/>DBV Technologies<br \/>+1 857-529-2363<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f3zFiXTyDxD_sfNNW-sRPB8NTQfiRppIG_ahd3RT_oID34iKN-u6FwoH8yzOkagfKiqZaPtUzSVC3SBB0k4XE0fZyGDGLjtyGDOSL50rih8hnBG8vl_DQ9Wq8oM4fBi2\" rel=\"nofollow noopener\" target=\"_blank\">anne.pollak@dbv-technologies.com<\/a><\/p>\n<p align=\"justify\">\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Angela Marcucci<br \/>DBV Technologies<br \/>+1\u00a0646-842-2393<br \/>\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ztSFRIBa23howjN1g0y5R3Nx1T5AotXIAR79ljucfCCo9pnGREdLjAFdhxDh0CAC6ApW6rt6BMXNK4sHmFmTEBvSmYwmUwrGqFHktSdRza5j14_avylGF7wTKxyUuQvrjy6_S8basyn8oMS3mNp_lA==\" rel=\"nofollow noopener\" target=\"_blank\">angela.marcucci@dbv-technologies.com<\/a><\/p>\n<p align=\"justify\">Viaskin and EPIT are trademarks of DBV Technologies.<\/p>\n<p>\u00a0<\/p>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachment<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/09f9f120-2ab2-46e0-8838-172b8a312ca1\" rel=\"noopener\">PDF Version<\/a>\n        <\/li>\n<\/ul>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgwODI5OSM0MDE1MzgwMjYjMTAxMTE1Mg==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/ZDFmYTA0ZGEtODJiMy00NTA5LWJmZWYtNWUzMzJkNTYyZjMyLTEwMTExNTI=\/tiny\/DBV-Technologies-S-A-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Montrouge, France, May 4, 2023 DBV Tech nolo gies Reports First Quarter 2023 Financial Results DBV closes Q1 2023 with cash and cash equivalents of $192.3 million . DBV Technologies (Euronext: DBV \u2013 ISIN: FR0010417345 \u2013 Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today reported financial results for the first quarter of 2023. The quarterly financial statements were approved by the Board of Directors on May 4, 2023. Financial Highlights for the First Quarter and the Three Months Ended March 31 , 2023 The Company\u2019s unaudited consolidated financial statements for the three months ended March 31, 2023, are prepared in accordance with generally accepted accounting principles in the U.S. (\u201cU.S. GAAP\u201d). Cash and cash Equivalents (in millions of USD) &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/dbv-technologies-reports-first-quarter-2023-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DBV Technologies Reports First Quarter 2023 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-755393","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DBV Technologies Reports First Quarter 2023 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/dbv-technologies-reports-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DBV Technologies Reports First Quarter 2023 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Montrouge, France, May 4, 2023 DBV Tech nolo gies Reports First Quarter 2023 Financial Results DBV closes Q1 2023 with cash and cash equivalents of $192.3 million . DBV Technologies (Euronext: DBV \u2013 ISIN: FR0010417345 \u2013 Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today reported financial results for the first quarter of 2023. The quarterly financial statements were approved by the Board of Directors on May 4, 2023. Financial Highlights for the First Quarter and the Three Months Ended March 31 , 2023 The Company\u2019s unaudited consolidated financial statements for the three months ended March 31, 2023, are prepared in accordance with generally accepted accounting principles in the U.S. (\u201cU.S. GAAP\u201d). 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DBV Technologies (Euronext: DBV \u2013 ISIN: FR0010417345 \u2013 Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today reported financial results for the first quarter of 2023. The quarterly financial statements were approved by the Board of Directors on May 4, 2023. Financial Highlights for the First Quarter and the Three Months Ended March 31 , 2023 The Company\u2019s unaudited consolidated financial statements for the three months ended March 31, 2023, are prepared in accordance with generally accepted accounting principles in the U.S. (\u201cU.S. GAAP\u201d). 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