Inventiva (ADR) (IVA)
Developing lanifibranor, an oral MASH candidate, through a pivotal global trial.
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Develops lanifibranor, an oral MASH candidate, and earns near-term revenue from licensing milestones rather than product sales. Its only active program is in a pivotal trial, while regional partners control rights in parts of Asia.
Develops lanifibranor, a once-daily oral small molecule designed for adults with metabolic dysfunction-associated steatohepatitis. The compound is its only active clinical candidate and anchors a global pivotal trial; no products are approved for sale and it has never generated product-sales revenue.
Operates from Daix, France, retaining global control of the pivotal trial while CTTQ holds rights in Greater China and Hepalys controls development and commercialization in Japan and South Korea. A regulatory filing and commercial launch remain conditional on favorable trial outcomes, regulatory acceptance and financing; future economics also depend on partner execution.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Guggenheim | Reiterate | Rating: —Target: $13 | Target: $14 |
| Jul 17, 2026 | Cantor Fitzgerald | Initiate | Rating: — | |
| Jan 28, 2026 | H.C. Wainwright | Target | Target: $20 | Target: $24 |
| Jan 27, 2026 | Barclays | Target | Target: — | Target: $18 |
| Jan 12, 2026 | Leerink Partners | Target | Target: — | Target: $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Dec 31, 2025Cash & short-term investments $113.6M · Total debt $68.0M · Total assets $284.8M · Shareholders' equity −$33.2M
- Revenue
- $32.9K
- Operating income
- −$84.9M
- Net income
- −$202.5M
Reported in EUR, converted at the latest exchange rate
No dividends on record.
| Institutions | 162.83% | 84.64M ADS | |
|---|---|---|---|
| 88 holders · as of Jun 30, 2026 | |||
| Insiders | 20.72% | 10.77M ADS | |
| 2 holders · as of Sep 5, 2023 | |||
| Adds to | 183.55% | ||
51.98M ADS as of Sep 7, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
These groups come from separate filings that can overlap, so they add to 183.55%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Caligan Partners LPInstitution | 15.70% | 8.16M ADS | as of Jun 30, 2026 |
Samsara Biocapital, LLCInstitution | 12.15% | 6.31M ADS | as of Jun 30, 2026 |
Frédéric CrenInsider | 10.80% | 5.61M | filed Feb 10, 2021 |
Qatar Investment AuthorityInsider | 9.92% | 5.16M | filed Sep 5, 2023 |
Paradigm Biocapital Advisors LPInstitution | 7.69% | 4.00M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Madrigal Pharmaceuticals
Approved oral MASH therapy for the same F2–F3 patient pool.
- Novo Nordisk (ADR)
Approved GLP-1 therapy competing for F2–F3 MASH patients.
- GSK (ADR)
Phase 3 FGF21 therapy targeting the same F2–F3 MASH patients.
- Roper Technologies
Acquired Phase 3 FGF21 program for MASH fibrosis and cirrhosis.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Inventiva (ADR) | $3.54 | −3.03% | $189.7M | — | — | 36.9 | −79.0% |
| Madrigal Pharmaceuticals | $522.82 | +0.16% | $12.06B | — | — | 9.4 | +71.2% |
| Novo Nordisk (ADR) | $39.65 | −0.39% | $176.83B | 9.9 | 16.3 | 3.5 | +1.3% |
| GSK (ADR) | $50.66 | −0.82% | $102.34B | 16.1 | 9.3 | 2.3 | +5.3% |
| Roper Technologies | $362.33 | −0.84% | $36.88B | 15.2 | 15.4 | 4.5 | +8.5% |
| Median | 15.2 | 15.4 | 4.0 | +6.9% |