DBV Technologies Reports Interim Financial Results for the third quarter of 2015

BAGNEUX, France, Nov. 3, 2015 (GLOBE NEWSWIRE) -- DBV Technologies, (Euronext: DBV - ISIN: FR0010417345 - Nasdaq Stock Market: DBVT), a clinical-stage specialty biopharmaceutical company, today announced its topline financial results, as well as its cash and cash equivalents, for the third quarter of 2015.

Topline Financial Results for the third quarter of 2015

Operating income was €3.9 million and €4.9 million for the third quarter of 2014 and 2015, respectively. This increase of 25.8% primarily resulted from an increase in our research tax credits amounting to €4.6 million over the 2015 period, compared to €3.6 million a year earlier. Sales of Diallertest Milk® amounted to €107,520 in the third quarter of 2015 compared with €210,759 a year earlier. We do not anticipate material future revenues from this diagnostic product and remain focused on the development of our product candidates that employ the Viaskin® platform.

Cash and cash equivalents at September 30, 2015

Following the closing of the underwritten public offering of 4,140,000 ordinary shares in the form of 8,280,000 American Depositary Shares, or ADSs, at a price to the public of $34.00 per ADS on July 20, 2015, our cash and cash equivalents amounted to €332.2 million at September 30, 2015, as compared with €104.5 million at June 30, 2015. Our research tax credits for 2014 of €4.3 million had not yet been paid as of September 30, 2015.

Number of outstanding shares at September 30, 2015

We had 24,123,249 ordinary shares outstanding at September 30, 2015.

About DBV Technologies DBV Technologies created the Viaskin® patch, a proprietary technology platform with broad potential applications in immunotherapy. Viaskin is based on epicutaneous immunotherapy, or EPIT®, DBV's method of delivering biologically active compounds to the immune system through intact skin while avoiding compound transfer to the blood. With this new class of self-administered and non-invasive product candidates, the company is dedicated to safely transforming the care of food allergy patients, for which there are currently no approved treatments. DBV's food allergy programs include ongoing clinical trials of Viaskin Peanut and Viaskin Milk and preclinical development of Viaskin Egg. DBV is also pursuing a human proof concept clinical study of Viaskin Milk for the treatment of Eosinophilic Esophagitis and exploring potential applications of its platform in vaccines and for the treatment selected immune diseases with unmet medical needs.

DBV Technologies has global headquarters in Paris, France and New York, NY, USA. Company shares are traded on segment B of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345), part of the SBF120 index, and traded on the Nasdaq Global Select Market in the form of American Depositary Shares (each representing one-half of one ordinary share) (Ticker: DBVT). For more information on DBV Technologies, please visit our website: www.dbv-technologies.com

Forward Looking Statements

This press release contains forward-looking statements, including statements reflecting management's expectations regarding the company's future financial and operational performance, the development of its product candidates and preclinical programs and its business outlook. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. A further description of the uncertainties and risks that may impact the company's future performance and outlook can be found in the company's regulatory filings with the French Autorité des Marchés Financiers, the company's Securities and Exchange Commission filings and reports, including in the company's annual report on Form 20-F for the year ended December 31, 2014, and future filings and reports by the company. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release, whether as a result of new information, future events or circumstances or otherwise.

DBV Technologies Contacts
Nathalie Donne
Director, Corporate Communication & Business Development Tél. : +33(0)1 55 42 78 72
Susanna Mesa VP Finance, US Investor Relations & Strategy
Tél. : +1 917-346-3447

DBV Technologies Media Contacts US & Europe
Marion Janic
Rooney & Associates Tél. : +1-212-223-4017
Caroline Carmagnol
Alize RP - Relation Presse
Tél. : +33(0)6 64 18 99 59


DBV Reports Interim Financial Results for the third quarter http://hugin.info/156437/R/1963440/716456.pdf


Source:DBV Technologies