MetaVia Inc.(MTVA)Earnings, Financials & Key Ratios
MTVA•NASDAQ
Price updated Jun 19, 2026
AboutMetaVia Inc., a clinical-stage biotechnology company focuses on developing and commercializing novel pharmaceuticals to treat cardiometabolic diseases. It develops DA-1241, a novel G-Protein-Coupled Receptor 119 agonist with development optionality as a standalone and/or combination therapy that is in Phase 2a clinical trial for metabolic dysfunction-associated steatohepatitis (MASH), and has completed Phase 1 clinical trial for the treatment of type 2 diabetes mellitus (T2DM); and DA-1726, a novel oxyntomodulin analogue functioning as a GLP-1 receptor and glucagon receptor dual agonist, which is in preclinical development for the treatment of obesity. The company's therapeutic programs include ANA001, a proprietary oral niclosamide formulation for the treatment of patients with moderate COVID-19; NB-01 for the treatment of painful diabetic neuropathy; NB-02 for the treatment of cognitive impairment; and Gemcabene for the treatment of dyslipidemia. It has a license agreement with Pfizer Inc. for the research, development, manufacture, and commercialization of Gemcabene; and joint research agreement with Dong-A ST and ImmunoForge for the development of DA-1726. The company was formerly known as NeuroBo Pharmaceuticals, Inc. and changed its name to MetaVia Inc. in November 2024. MetaVia Inc. is headquartered in Cambridge, Massachusetts.Show more
- Revenue$0
- EBITDA-$14M+52.4%
- Net Income-$13M+53.0%
- EPS (Diluted)-7.35+81.2%
- ROE-195.61%+12.7%
MTVA Key Insights
MetaVia Inc. (MTVA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Strong 5Y profit CAGR of 15.3%
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 0.5x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 2/9
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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MTVA Price & Volume
MetaVia Inc. (MTVA) stock price & volume — 10-year historical chart
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MTVA Growth Metrics
MetaVia Inc. (MTVA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM46.54%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM83.69%
Return on Capital
10 Years-172.66%
5 Years-120.09%
3 Years-117.66%
Last Year-38.36%
MTVA Peer Comparison
MetaVia Inc. (MTVA) competitors in Metabolic and Obesity Therapies — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MVIS | 120.77M | 0.36 | -1.04 | -74.28% | -58.88% | -139.2% | 0.66 | |
 VUZI | 275.25M | 3.31 | -7.88 | 9.14% | -5.04% | -87.47% | 0.03 | |
 KOPN | 901.8M | 4.93 | 337.67 | -23.58% | 4.86% | 4.31% | 9.05 | |
 IMMR | 217.12M | 6.68 | 1.63 | 35.39% | 4.49% | 13% | 0.57 | |
 META | 1.46T | 577.22 | 24.57 | 22.17% | 32.84% | 33.22% | 0.39 | |
 RBLX | 36.88B | 51.53 | -33.46 | 35.77% | -20.69% | -289.59% | 4.36 | |
 U | 12B | 27.48 | -28.63 | 2.01% | -34.95% | -19.75% | 0.68 | |
 NVDA | 5.1T | 210.69 | 43.00 | 65.47% | 62.97% | 111.66% | 0.07 |
Compare MTVA vs Peers
MetaVia Inc. (MTVA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MTVA Income Statement
MetaVia Inc. (MTVA) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue Growth % | - | - | - | - | - | - | - | - | - | - |
Cost of Goods Sold | 0 | 0 | 0 | 67K | 72K | 28K | 7K | 24K | 19K | 15K |
COGS % of Revenue | - | - | - | - | - | - | - | - | - | - |
Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | -67K▲ 0% | -72K▼ 7.5% | -28K▲ 61.1% | -7K▲ 75.0% | -24K▼ 242.9% | -19K▲ 20.8% | -15K▲ 0% |
Gross Margin % | - | - | - | - | - | - | - | - | - | - |
Gross Profit Growth % | - | - | - | - | -7.46% | 61.11% | 75% | -242.86% | 20.83% | - |
Operating Expenses | 33.12M | 15.49M | 20.18M | 29.72M | 15.3M | 19.63M | 15.89M | 28.81M | 13.69M | 13.83M |
OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - |
Selling, General & Admin | 10.44M | 1.6M | 2.7M | 7.85M | 8.75M | 8.64M | 6.73M | 7.26M | 6.89M | 7.26M |
SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - |
Research & Development | 22.69M | 13.88M | 17.48M | 21.87M | 6.55M | 2.78M | 9.16M | 21.53M | 6.8M | 6.58M |
R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 8.21M | 0 | 24K | 0 | 0 |
Operating Income | -33.12M▲ 0% | -15.49M▲ 53.2% | -20.18M▼ 30.3% | -29.72M▼ 47.3% | -15.3M▲ 48.5% | -19.63M▼ 28.3% | -15.89M▲ 19.1% | -28.81M▼ 81.3% | -13.71M▲ 52.4% | -13.85M▲ 0% |
Operating Margin % | - | - | - | - | - | - | - | - | - | - |
Operating Income Growth % | -125.39% | 53.25% | -30.29% | -47.28% | 48.52% | -28.3% | 19.06% | -81.35% | 52.42% | - |
EBITDA | -33.12M | -15.49M | -20.16M | -29.67M | -15.25M | -19.61M | -15.88M | -28.79M | -13.69M | -13.83M |
EBITDA Margin % | - | - | - | - | - | - | - | - | - | - |
EBITDA Growth % | -125.39% | 53.25% | -30.18% | -47.18% | 48.6% | -28.58% | 19.01% | -81.27% | 52.44% | 46.39% |
D&A (Non-Cash Add-back) | 0 | 0 | 17K | 46K | 48K | 20K | 6K | 24K | 19K | 20K |
EBIT | -33.12M | -15.49M | -20.18M | -29.72M | -15.28M | -11.78M | -15.89M | -28.81M | -13.71M | -13.54M |
Net Interest Income | -286K | -40K | -22K | 39K | 14K | -2.19M | 461K | 920K | 510K | 467K |
Interest Income | 0 | 0 | 0 | 39K | 14K | 0 | 461K | 920K | 510K | 467K |
Interest Expense | 286K | 40K | 22K | 0 | 0 | 2.19M | 0 | 0 | 0 | 0 |
Other Income/Expense | -291K | -43K | -1.14M | 38K | 14K | 5.66M | 3.42M | 1.22M | 735K | 722K |
Pretax Income | -33.41M▲ 0% | -15.53M▲ 53.5% | -21.31M▼ 37.2% | -29.68M▼ 39.3% | -15.28M▲ 48.5% | -13.97M▲ 8.6% | -12.47M▲ 10.7% | -27.59M▼ 121.3% | -12.97M▲ 53.0% | -13.13M▲ 0% |
Pretax Margin % | - | - | - | - | - | - | - | - | - | - |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -33.41M▲ 0% | -15.53M▲ 53.5% | -21.31M▼ 37.2% | -29.68M▼ 39.3% | -15.28M▲ 48.5% | -13.97M▲ 8.6% | -12.47M▲ 10.7% | -27.59M▼ 121.3% | -12.97M▲ 53.0% | -13.13M▲ 0% |
Net Margin % | - | - | - | - | - | - | - | - | - | - |
Net Income Growth % | -129.09% | 53.53% | -37.24% | -39.25% | 48.5% | 8.62% | 10.72% | -121.27% | 52.98% | 46.54% |
Net Income (Continuing) | -33.41M | -15.53M | -21.31M | -29.68M | -15.28M | -13.97M | -12.47M | -27.59M | -12.97M | -13.13M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -213180.00▲ 0% | -112860.00▲ 47.1% | -10771.20▲ 90.5% | -4831.20▲ 55.1% | -1742.40▲ 63.9% | -477.84▲ 72.6% | -27.06▲ 94.3% | -39.16▼ 44.7% | -7.35▲ 81.2% | -2.70▲ 0% |
EPS Growth % | -100.25% | 47.06% | 90.46% | 55.15% | 63.93% | 72.58% | 94.34% | -44.72% | 81.23% | 83.69% |
EPS (Basic) | -213180.00 | -112860.00 | -10771.20 | -4831.20 | -1742.40 | -477.84 | -27.06 | -39.16 | -7.35 | - |
Diluted Shares Outstanding | 157 | 209 | 1.98K | 6.14K | 8.77K | 29.25K | 461.01K | 705.19K | 1.77M | 4.86M |
Basic Shares Outstanding | 157 | 209 | 1.98K | 6.14K | 8.77K | 29.25K | 461.01K | 705.19K | 1.77M | 4.86M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
MTVA Balance Sheet
MetaVia Inc. (MTVA) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 19.01M | 3.81M | 14.12M | 10.68M | 16.58M | 33.53M | 22.51M | 16.07M | 10.88M | 14.16M |
Cash & Short-Term Investments | 18.47M | 2.85M | 13.91M | 10.09M | 16.39M | 33.36M | 22.43M | 16.02M | 10.28M | 13.73M |
Cash Only | 18.47M | 2.85M | 13.91M | 10.09M | 16.39M | 33.36M | 22.43M | 16.02M | 10.28M | 13.73M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
Other Current Assets | 46K | 34K | 57K | 48K | 0 | 0 | 0 | 0 | 32K | 2K |
Total Non-Current Assets | 8K | 12K | 350K | 285K | 215K | 2K | 269K | 188K | 58.25M | 226K |
Property, Plant & Equipment | 0 | 12K | 350K | 285K | 215K | 2K | 248K | 167K | 227K | 205K |
Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | 0.00x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 8K | 0 | 0 | 0 | 0 | 0 | 21K | 21K | 21K | 21K |
Total Assets | 19.02M▲ 0% | 3.82M▼ 79.9% | 14.47M▲ 278.7% | 10.97M▼ 24.2% | 16.8M▲ 53.2% | 33.53M▲ 99.6% | 22.78M▼ 32.1% | 16.26M▼ 28.6% | 69.12M▲ 325.1% | 14.39M▲ 0% |
Asset Turnover | - | - | - | - | - | - | - | - | - | 0.00x |
Asset Growth % | -23.18% | -79.91% | 278.74% | -24.19% | 53.16% | 99.62% | -32.07% | -28.62% | 325.11% | 274.63% |
Total Current Liabilities | 6.39M | 219K | 2.08M | 3.69M | 2.16M | 11.78M | 5.96M | 8.27M | 5.65M | 5.19M |
Accounts Payable | 4.03M | 170K | 638K | 2.58M | 830K | 708K | 821K | 3.88M | 1.06M | 1.01M |
Days Payables Outstanding | - | - | - | 14.03K | 4.21K | 9.23K | 42.81K | 58.99K | 20.36K | 45.87K |
Short-Term Debt | 1.35M | 9.44M | 0 | 0 | 0 | 0 | 0 | 0 | 68K | 71K |
Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 306K | -9.42M | 189K | 40K | 0 | 10.8M | 942K | 1.13M | 3.69M | 3.73M |
Current Ratio | 2.97x | 17.39x | 6.78x | 2.89x | 7.69x | 2.85x | 3.78x | 1.94x | 1.93x | 2.73x |
Quick Ratio | 2.97x | 17.39x | 6.78x | 2.89x | 7.69x | 2.85x | 3.78x | 1.94x | 1.93x | 2.73x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
Total Non-Current Liabilities | 8.69M | 16.89M | 94K | 70K | 45K | 0 | 136K | 58K | 58.14M | 123K |
Long-Term Debt | 8.68M | 118K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 0 | 23K | 94K | 70K | 45K | 0 | 136K | 58K | 142K | 280K |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 58M | 58M |
Other Non-Current Liabilities | 3K | 16.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Liabilities | 15.08M | 17.11M | 2.18M | 3.77M | 2.2M | 11.78M | 6.1M | 8.33M | 63.79M | 5.32M |
Total Debt | 10.04M | 9.58M | 116K | 94K | 71K | 0 | 203K | 136K | 210K | 194K |
Net Debt | -8.44M | 6.73M | -13.79M | -9.99M | -16.32M | -33.36M | -22.23M | -15.88M | -10.07M | -13.54M |
Debt / Equity | 2.55x | - | 0.01x | 0.01x | 0.00x | - | 0.01x | 0.02x | 0.04x | 0.02x |
Debt / EBITDA | - | - | - | - | - | - | - | - | - | -0.01x |
Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | 0.98x |
Interest Coverage | -115.82x | -387.15x | -917.09x | - | - | -5.37x | - | - | - | - |
Total Equity | 3.94M▲ 0% | -13.29M▼ 437.1% | 12.29M▲ 192.5% | 7.2M▼ 41.4% | 14.6M▲ 102.7% | 21.75M▲ 49.0% | 16.68M▼ 23.3% | 7.93M▼ 52.5% | 5.33M▼ 32.8% | 9.07M▲ 0% |
Equity Growth % | -80.9% | -437.12% | 192.52% | -41.4% | 102.65% | 49% | -23.29% | -52.47% | -32.76% | -25.93% |
Book Value per Share | 25101.91 | -63569.38 | 6211.22 | 1172.55 | 1664.99 | 743.69 | 36.19 | 11.25 | 3.02 | 1.87 |
Total Shareholders' Equity | 3.94M | -13.29M | 12.29M | 7.2M | 14.6M | 21.75M | 16.68M | 7.93M | 5.33M | 9.07M |
Common Stock | 18K | 0 | 16K | 20K | 1K | 25K | 5K | 9K | 2K | 5K |
Retained Earnings | -60.47M | -15.55M | -36.87M | -66.54M | -81.83M | -95.8M | -108.27M | -135.86M | -148.83M | -152.65M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | 2K | 12K | 14K | 4K | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
MTVA Cash Flow Statement
MetaVia Inc. (MTVA) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -26.9M | -14.45M | -7.04M | -10.76M | -15.13M | -11.71M | -10.8M | -24.71M | -15.7M | -15.14M |
Operating CF Margin % | - | - | - | - | - | - | - | - | - | - |
Operating CF Growth % | -143.6% | 46.28% | 51.29% | -52.92% | -40.6% | 22.61% | 7.8% | -128.82% | 36.46% | 126.81% |
Net Income | -33.41M | -15.53M | -21.31M | -29.68M | -15.28M | -13.97M | -12.47M | -27.59M | -12.97M | -13.13M |
Depreciation & Amortization | 0 | 0 | 17K | 46K | 48K | 20K | 6K | 20K | 19K | 15K |
Stock-Based Compensation | 5.27M | 0 | 118K | 699K | 662K | 854K | 222K | 538K | 0 | 111K |
Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 137K | 1.86M | 13.39M | 17.36M | 24K | 2.55M | -2.95M | -293K | 183K | 16K |
Working Capital Changes | 1.1M | -778K | 744K | 809K | -584K | -1.17M | 4.4M | 2.62M | -2.93M | -2.16M |
Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 2.01M | 170K | -1.05M | 1.12M | -1.16M | -202K | 113K | 3.06M | -2.82M | -2.29M |
Cash from Investing | 0 | -3K | -6.06M | 69K | -586K | 8K | -50K | -8K | -2K | -2K |
Capital Expenditures | 0 | -3K | -214K | -4K | -3K | 0 | -50K | -8K | -2K | -2K |
CapEx % of Revenue | - | - | - | - | - | - | - | - | - | - |
Acquisitions | 0 | 0 | 1.52M | 180K | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 0 | 0 | -7.37M | -107K | -583K | 8K | 0 | 0 | 0 | 0 |
Cash from Financing | 21.34M | 17.25M | 24.17M | 6.86M | 22.03M | 28.68M | -80K | 18.3M | 9.96M | 17.69M |
Debt Issued (Net) | 10M | 500K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Equity Issued (Net) | 12.54M | 41.95M | 24.24M | 7.5M | 24M | 64.5M | -80K | 20M | 9.98M | 17.69M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -1.2M | -25.2M | -73K | -642K | -1.97M | -35.82M | 0 | -1.7M | -12K | 0 |
Net Change in Cash | -5.56M▲ 0% | 2.79M▲ 150.3% | 11.08M▲ 296.4% | -3.83M▼ 134.6% | 6.3M▲ 264.3% | 16.98M▲ 169.6% | -10.93M▼ 164.4% | -6.42M▲ 41.3% | -5.74M▲ 10.6% | 2.54M▲ 0% |
Free Cash Flow | -26.9M▲ 0% | -14.45M▲ 46.3% | -7.25M▲ 49.8% | -10.77M▼ 48.5% | -15.14M▼ 40.6% | -11.71M▲ 22.6% | -10.85M▲ 7.4% | -24.72M▼ 127.8% | -15.7M▲ 36.5% | -15.15M▲ 0% |
FCF Margin % | - | - | - | - | - | - | - | - | - | - |
FCF Growth % | -143.6% | 46.27% | 49.82% | -48.46% | -40.57% | 22.63% | 7.37% | -127.84% | 36.47% | 34.39% |
FCF per Share | -171343.95 | -69157.89 | -3664.98 | -1752.89 | -1726.59 | -400.47 | -23.53 | -35.05 | -8.89 | -3.12 |
FCF Conversion (FCF/Net Income) | 0.81x | 0.93x | 0.33x | 0.36x | 0.99x | 0.84x | 0.87x | 0.90x | 1.21x | 1.15x |
Interest Paid | 291K | 0 | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
MTVA Key Ratios
MetaVia Inc. (MTVA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -271.97% | - | -173.38% | -304.47% | -140.22% | -76.85% | -64.89% | -224.18% | -195.61% | -172.92% |
Return on Invested Capital (ROIC) | - | - | - | - | - | - | - | - | - | 166.61% |
Debt / Equity | 2.55x | - | 0.01x | 0.01x | 0.00x | - | 0.01x | 0.02x | 0.04x | 0.02x |
Interest Coverage | -115.82x | -387.15x | -917.09x | - | - | -5.37x | - | - | - | - |
FCF Conversion | 0.81x | 0.93x | 0.33x | 0.36x | 0.99x | 0.84x | 0.87x | 0.90x | 1.21x | 1.15x |
Related:MTVA Dividend History·MTVA Revenue History·MTVA Price History·MTVA P/E History·MTVA Financial Ratios·MTVA Institutional Holders
MTVA Frequently Asked Questions
MetaVia Inc. (MTVA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
MetaVia Inc. (MTVA) grew revenue by 0.0% over the past year. Growth has been modest.
MetaVia Inc. (MTVA) reported a net loss of $13.1M for fiscal year 2025.
Dividend & Returns
MetaVia Inc. (MTVA) has a return on equity (ROE) of -195.6%. Negative ROE indicates the company is unprofitable.
MetaVia Inc. (MTVA) had negative free cash flow of $15.1M in fiscal year 2025, likely due to heavy capital investments.