reports
- Jacob Mekhael
Inventiva FIRST LOOK: 3Q24 update holds no surprises, NATiV3 timelines...
Inventiva provided a 3Q24 update which holds no surprises, reporting a cash position of € 13.9m. Following the € 94m in gross proceeds from the tranched equity raise (up to € 348m) announced in October 2024 and € 10m milestone from China partner CTTQ, Inventiva has a cash runway until the end of 2Q25 – this can be further extended with subsequent tranches based on certain conditions being met. With the financing overhang lifted, the focus is on recruitment for the phase 3 (NATiV3) trial of lani...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
Inventiva reports 2024 Third Quarter Financial Information¹
Inventiva reports 2024 Third Quarter Financial Information¹ Cash and cash equivalents at €13.9 million, as of September 30, 2024.Revenues of €1.3 million for the first nine months of 2024.On July 18, 2024, Inventiva issued royalty certificates for an amount of €20.1 million.Considering the receipt of €94.1 million in gross proceeds from the closing of the first part of the first tranche of the equity raise announced on October 14, 20242 and the receipt of the $10 million milestone payment under the amended license and collaboration agreement with CTTQ on November 18, 2024, the Company estim...
Inventiva publie ses informations financières du 3ème trimestre 2024¹
Inventiva publie ses informations financières du 3ème trimestre 2024¹ Trésorerie et équivalents de trésorerie à 13,9 millions d’euros au 30 septembre 2023.Chiffre d’affaires de 1,3 millions d’euros sur les neuf premiers mois de 2024.Emission de certificats de redevance le 18 juillet 2024, pour un montant de 20,1 millions d'euros. En tenant compte de la réception de €94.1 million brut à la suite de la réalisation de la première partie de la première tranche de la levée de fonds annoncée le 14 octobre 20242, et le versement du paiement d’étape par CTTQ reçu le 18 novembre 2024, la Société est...
Combined General Meeting of December 11, 2024 - Availability of the p...
Combined General Meeting of December 11, 2024 - Availability of the preparatory documents Daix (France), Long Island City (New York, United States), November 20, 2024 – Inventiva (Euronext Paris and Nasdaq: IVA), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), also known as non-alcoholic steatohepatitis (“NASH”), and other diseases with significant unmet medical needs, today announced the availability of the preparatory documents for the Combined General Me...
Assemblée Générale Mixte du 11 décembre 2024 - Modalités de mise à di...
Assemblée Générale Mixte du 11 décembre 2024 - Modalités de mise à disposition des documents préparatoires Daix (France), Long Island City (New York, Etats-Unis), le 20 novembre 2024 – Inventiva (Euronext Paris et Nasdaq : IVA), société́ biopharmaceutique spécialisée dans le développement clinique de petites molécules administrées par voie orale pour le traitement de la stéatohépatite associée à un dysfonctionnement métabolique (« MASH »), également connue sous le nom de stéatohépatite non alcoolique (« NASH ») et d’autres maladies avec un besoin médical non satisfait significatif, annonce...
Statement of total voting rights and shares forming the company’s shar...
Statement of total voting rights and shares forming the company’s share capital as of November 4, 2024 Article R. 22-10-23 of the French Commercial Code Market : Euronext ParisISIN code / Mnemo : FR0013233012 / IVAWeb site : Date Number of Shares Outstanding Total voting rights,gross (1) Total voting rights,net (2) November 4, 2024 87 077 695 100 059 052 99 938 530 The total number of gross (or “theoretical”) voting rights is used as the basis for calculating threshold crossings. In accordance with Article 223-11 of the AMF General Regulations, this number is calculate...
Information relative au nombre total de droits de vote et d’actions co...
Information relative au nombre total de droits de vote et d’actions composant le capital social au 4 novembre 2024 Article R. 22-10-23 du Code de commerce Place de cotation : Euronext ParisCode ISIN / Mnémo : FR0013233012 / IVASite web : Date Nombre de titres composant le capital en circulation Nombre total de droitsde vote bruts(1) Nombre total de droits de vote nets(2) 4 novembre 2024 87 077 695 100 059 052 99 938 530 Le nombre de droits de vote bruts (ou droits de vote « théoriques ») sert de base de calcul pour les franchissements de seuil. Conformément à l’ar...
- ING Helpdesk
- Hilde Van Boxstael
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Vranken
- Wim Lewi
- Thomas Vranken
UCB FIRST LOOK: FDA gives 5/5 with Bimzelx' new approval in HS
UCB has received a 5th nod for Bimzelx as hidradenitis suppurativa joins the fray of approved indications. We see an important role for Bimzelx in this emerging disease space with clear potential to become standard of care over time given its clear outperformance over Novartis' Cosentyx in the clinic. We reiterate our € 173 TP and Accumulate rating.
- Thomas Vranken
UCB FIRST LOOK: First takes on dapimap's Ph3 results in SLE
UCB shared first insights into the Phase 3 data on dapimap in SLE, which appear generally favourable with a 14.6% BICLA benefit after 48 weeks vs. SoC. The data also shows a steroid tapering effect and reduction in flares, while suggesting possible outperformance vs. current market leader Benlysta (GSK). Dapimap is co-developed with Biogen and will be continued in a second Ph3 study. We reiterate our € 173 TP and Accumulate rating.
- Guy Sips
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Vranken
- Francesca Ferragina
Retail Estates/Cautiousness on tenants and consumers/BUY
While 1H results were overall good with guidance being reconfirmed, RET showed some level of cautiousness on tenants and consumers' environment. Certain tenants' profitability appears to be under pressure, while consumers have a more cautious approach to spending. On a positive note, out of 22 stores left empty from problematic tenants (out of a total of >1000 store), 11 already have a new occupier. For contracts that are to be renegotiated over the next 6 to 12 months, there are no discussions ...
- ING Helpdesk
- Hilde Van Boxstael
- Kristof Samoy
- Michiel Declercq
- Wim Lewi
- Wim Lewi
Retail Estates 1H24/25 Results, managing the reletting well
RET reported its 1H24/25 results (September end) slightly below our estimates. EPRA Net profit grew 1.9%. EPRA EPS amounted to EUR 3.12 vs. our expectation of 3.16. NRI grew 4.6% to 70.6m vs. 72.2.9m expected. Occupancy declined slightly to 97.6% from 97.9%. Retail Estates was confronted with some bankruptcies in the toy (Fun) and fashion (Euro Shoe) segment, but has so far managed the re-letting extremely well. These bankruptcies have soured the sentiment on the stock. However, RET confirmed i...
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Reg Watson
- CFA
dsm-firmenich/Take your vitamins/BUY
dsm-firmenich expects to separate its Animal Nutrition and Health (ANH) business in 2025 which will complete the company's transformation into a flavours and fragrances business to rival Givaudan and Symrise. We model the impact of this on valuation and forecast the expected short-term boost from vitamin pricing. The outcome is that our adj. EBITDA forecasts for 2024-25F rise by c.10% each year but our valuation declines slightly to €146 per share, based on the disposal of ANH. We maintain our B...
- David Vagman
- CFA
- Maxime Stranart
UCB/The gift that keeps on giving/BUY
We reiterate our BUY rating on UCB and increase our target price from €180 to €212. After almost a year on the ING Benelux Favourites List, we believe it is an opportune time to remove UCB as we view our upside as more risky than in the past as it is increasingly weighted towards UCB's development pipeline. Nonetheless, we remain confident in UCB's equity story, driven by INGF €6bn peak sales for Bimzelx, a continued strong performance of secondary growth engines Evenity and Rystiggo, as well as...
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