DBV Technologies falls after early spike as operations warning overshadows FDA deal

Shares in French biopharmaceutical firm DBV Technologies DBV.PA spiked before reversing course, as an FDA agreement contrasted with annual loss and doubts on continued operations fuel mixed sentiment

The shares jumped 8.4% at market open to their highest since mid-January, then reversed course to fall 4.5% by 0919 GMT

The Paris-listed company posts yearly loss of $114 million, as operating income was dwarfed by R&D expenses in 2024

It says the U.S. FDA has agreed to accelerate Biologics License Application (BLA) submission for its VITESSE drug

DBV, which has been operating on a loss since its founding, says its cash reserves allow it to continue operations only into April

On the "financial front, DBV remains in a very delicate situation", BNP Paribas's Portzamparc says

"The company needs to quickly find funds. We still favor a deal with a big pharma followed by a capital increase aimed at strengthening up to the marketing authorization" Portzamparc adds