On October 6, 2025, DBV Technologies announced that it had agreed to issue and sell approximately $30 million of American Depositary Shares (ADSs) through its At‑The‑Market (ATM) program, a capital‑raising move that will generate gross proceeds of roughly $30 million before fees and commissions.
The transaction will create 11,538,460 new ordinary shares, which correspond to 2,307,692 new ADSs, at an ATM price of $13.00 per ADS (equivalent to a subscription price of €2.2264 per ordinary share). The new ordinary shares represent 8.42% of the existing share base and will dilute current shareholders by about 7.77% upon completion. The issuance is expected to be completed on October 8, 2025, with the ADSs admitted to trading on the Nasdaq Capital Market and the ordinary shares listed on Euronext Paris.
This financing extends DBV’s cash runway and provides additional liquidity to support ongoing clinical development and Biologics License Application (BLA) preparation for its Viaskin Peanut program. The ATM program, established on September 5, 2025, has now completed its first sale, positioning the company to pursue further capital raises if needed while maintaining flexibility for future regulatory and commercial milestones.
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