{"url_path":"/sec/mtva/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1638287/0001104659-26-061166-index.html","accession_number":"0001104659-26-061166","cik":"0001638287","ticker":"MTVA","issuer_name":"MetaVia Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1638287/0001104659-26-061166-index.html","primary_entity_key":"0001638287","primary_entity_name":"MetaVia Inc."},"word_count":1332,"has_tables":true,"body_markdown":"METAVIA INC._March 31, 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of Contents](#Toc)\n\n​\n\n​\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, DC 20549**\n\n​\n\n**Form****10-Q**\n\n**(Mark One)**\n\n​\n\n​\n\n​\n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n​\n\n**For the quarterly period ended****March 31, 2026**\n\n**6**\n\n**OR**\n\n​\n\n​\n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n​\n\n**For the transition period from          to          **\n\n​\n\n**Commission file number****001-37809**\n\n**METAVIA INC.**\n\n(Exact name of Registrant as specified in its charter)\n\n​\n\n​\n\n​\n\n​\n\n**Delaware**\n\n​\n\n**47-2389984**\n\n(State or other jurisdiction of incorporation or organization)\n\n​\n\n(IRS Employer Identification No.)\n\n​\n\n​\n\n​\n\n**545 Concord Avenue, Suite 210**\n\n**Cambridge****,****Massachusetts**\n\n​\n\n**02138**\n\n(Address of principal executive offices)\n\n​\n\n(Zip Code)\n\n​\n\n**(****857****)****702-9600**\n\n(Registrant’s telephone number, including area code)\n\n​\n\n**Not applicable**\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n​\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Title of Each Class**\n\n​\n\n**Trading Symbol(s)**\n\n​\n\n**Name of Each Exchange On Which Registered**\n\nCommon stock, $0.001 par value\n\n​\n\nMTVA\n\n​\n\nThe Nasdaq Stock Market LLC\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  ☒    No  ◻\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☒    No  ☐\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\nLarge accelerated filer  ◻\n\nAccelerated filer  ◻\n\nNon-accelerated filer  ☒\n\nSmaller reporting company  ☒\n\nEmerging growth company  ◻\n\n \n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n​\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  ☐  No  ☒\n\n​\n\nAs of May 11, 2026, the registrant had 5,164,370 shares of common stock, $0.001 par value per share, issued and outstanding.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#Toc)\n\n​\n\n**METAVIA INC.**\n\n​\n\n**Table of Contents**\n\n​\n\n​\n\n​\n\n​\n\n[Special Note Regarding Forward-Looking Statements](#Special_Note_Forward_Looking_Statements)\n\n2\n\n[Part I](#PARTIFINANCIALINFORMATION_483013)\n\n[Financial Information](#PARTIFINANCIALINFORMATION_483013)\n\n3\n\n[Item 1.](#ITEM1FINANCIALSTATEMENTS_386115)\n\n[Financial Statements (Unaudited)](#ITEM1FINANCIALSTATEMENTS_386115)\n\n3\n\n​\n\n[Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (Unaudited)](#BalanceSheets_383724)\n\n3\n\n​\n\n[Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025 (Unaudited)](#ComprehensiveLoss_1868)\n\n4\n\n​\n\n[Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and 2025 (Unaudited)](#Stockholders_238774)\n\n5\n\n​\n\n[Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (Unaudited)](#CashFlows_19527)\n\n6\n\n​\n\n[Notes to the Condensed Consolidated Financial Statements (Unaudited)](#TheCompanyandBasisofPresentation_829357)\n\n7\n\n[Item 2.](#ITEM2MANAGEMENTSDISCUSSION_974141)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2MANAGEMENTSDISCUSSION_974141)\n\n17\n\n[Item 3.](#ITEM3QUANTITATIVEANDQUALITATIVE_543894)\n\n[Quantitative and Qualitative Disclosures about Market Risk](#ITEM3QUANTITATIVEANDQUALITATIVE_543894)\n\n22\n\n[Item 4.](#ITEM4CONTROLSANDPROCEDURES_128146)\n\n[Controls and Procedures](#ITEM4CONTROLSANDPROCEDURES_128146)\n\n22\n\n[Part II](#PARTIIOTHERINFORMATION_875534)\n\n[Other Information](#PARTIIOTHERINFORMATION_875534)\n\n23\n\n[Item 1.](#ITEM1LEGALPROCEEDINGS_628869)\n\n[Legal Proceedings](#ITEM1LEGALPROCEEDINGS_628869)\n\n23\n\n[Item 1A.](#ITEM1A_RISK_FACTORS)\n\n[Risk Factors](#ITEM1A_RISK_FACTORS)\n\n23\n\n[Item 2.](#ITEM2UNREGISTEREDSALESOFEQUITY_733918)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#ITEM2UNREGISTEREDSALESOFEQUITY_733918)\n\n23\n\n[Item 3.](#ITEM3DEFAULTUPON_78011)\n\n[Defaults Upon Senior Securities](#ITEM3DEFAULTUPON_78011)\n\n23\n\n[Item 4.](#ITEM4MINESAFETYDISCLOSURES_886185)\n\n[Mine Safety Disclosures](#ITEM4MINESAFETYDISCLOSURES_886185)\n\n23\n\n[Item 5.](#ITEM5OTHERINFORMATION_858772)\n\n[Other Information](#ITEM5OTHERINFORMATION_858772)\n\n23\n\n[Item 6.](#EXHIBITS_650020)\n\n[Exhibits](#EXHIBITS_650020)\n\n23\n\n[Signatures](#SIGNATURES_188328)\n\n25\n\n​\n\n​\n\n1\n\n[Table of Contents](#Toc)\n\n*Unless the context requires otherwise, references in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 (this “Report”) to “we,” “us,” “the Company,” “MetaVia,” “the Registrant” and “our” refer to MetaVia Inc. and its subsidiaries.*\n\n**Special Note Regarding Forward-Looking Statements**\n\nThis Report contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements that address future operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation, our expectations regarding our ability to execute our commercial strategy; our expectations regarding the sufficiency of our existing cash and cash equivalents on hand to fund our operations; the timeline for regulatory submissions, regulatory steps and potential regulatory approval of our current and future product candidates; the ability to realize the benefits of the license agreement with Dong-A ST Co., Ltd., a related party (“Dong-A ST”), including the impact on our future financial and operating results; the ability to integrate the product candidates into our business in a timely and cost-efficient manner; the cooperation of our contract manufacturers, clinical study partners and others involved in the development of our current and future product candidates; our ability to initiate clinical trials on a timely basis; our planned clinical trials and our ability to recruit subjects for our clinical trials; the costs related to the license agreement, known and unknown, including costs of any litigation or regulatory actions relating to the license agreement; the changes in applicable laws or regulations; and the effects of changes to our stock price on the terms of the license agreement and any future fundraising and other risks and uncertainties described in this Report and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (“2025 Form 10-K”), and in our other filings with the Securities and Exchange Commission (the “SEC”).\n\nForward-looking statements are based on management’s current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. These statements may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. In addition, statements that “we believe,” “we expect,” “we anticipate” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Report and management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on forward-looking statements because they speak only as of the date when made. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations, except as required by law.\n\nForward-looking statements are subject to a number of risks and uncertainties, and actual results, developments or events could differ materially from those disclosed in the forward-looking statements, including without limitation, the possibility that regulatory authorities do not accept our applications or approve the marketing of our products, the possibility we may be unable to raise the funds necessary for the development and commercialization of our products, and those described in this Report and in our other filings with the SEC.\n\nWe operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties. We qualify all of our forward-looking statements by these cautionary statements.\n\n​\n\n2\n\n[Table of Contents](#Toc)\n\n**Part I - Financial Information**"}