MetaVia completes $9.3 million public offering with full overallotment

MetaVia Inc. (NASDAQ: MTVA) announced the completion of its underwritten public offering, raising approximately $9.3 million in gross proceeds before deducting underwriting discounts, commissions and offering expenses.

The biotechnology company sold 3,005,574 shares of common stock along with accompanying warrants at a combined price of $3.10 per share. The offering included 4,508,361 Series C Warrants and 4,508,361 Series D Warrants, according to the company's statement.

Series C Warrants have an exercise price of $3.10 and expire five years from issuance, while Series D Warrants carry the same exercise price but expire after two years. The Series D Warrants can be called by the company following positive Phase 1b Part III clinical trial data for DA-1726, subject to certain conditions.

If all warrants are exercised for cash, MetaVia could receive up to approximately $28.0 million in additional proceeds. The company plans to use net proceeds for working capital and general corporate purposes, including continued clinical development of DA-1726 for obesity treatment.

Ladenburg Thalmann & Co. Inc. served as sole book-running manager for the offering. The underwriter's over-allotment option was exercised in full.

The securities were offered under a Form S-1 registration statement filed with the Securities and Exchange Commission on January 5, 2026, amended January 12, 2026, and declared effective January 15, 2026. An additional registration statement filed under Rule 462(b) became effective upon filing January 15, 2026.

MetaVia is developing DA-1726, a dual agonist targeting glucagon-like peptide-1 and glucagon receptors for obesity treatment, and vanoglipel for metabolic dysfunction-associated steatohepatitis.

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