Inventiva S.A. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Inventiva S.A. submitted its 20-F annual report detailing fiscal year 2023 operations, including clinical trial updates and tax-related provisions.</b>

AI Summary

Inventiva S.A. (IVEVF) filed a Foreign Annual Report (20-F) with the SEC on April 3, 2024. Inventiva S.A. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing includes information on various share warrant plans, including BSA20231 and BSA20232, with grant dates in 2023. Key dates related to clinical trials are noted, such as the presentation of results from a Phase IIa combination trial with lanifibranor and empagliflozin on March 7, 2024. The company has provisions related to tax audits for various years, including 2013-2015 and 2016-2018, and French research tax credits. The report details share issuances, including an August 2023 issuance related to Lanifibranor.

Why It Matters

For investors and stakeholders tracking Inventiva S.A., this filing contains several important signals. The 20-F filing provides a comprehensive overview of Inventiva's financial health and operational activities for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. Details on clinical trials, such as the Phase IIa combination trial results presented in March 2024, offer insights into the company's drug development pipeline and potential market impact.

Risk Assessment

Risk Level: medium — Inventiva S.A. shows moderate risk based on this filing. The company faces medium risk due to ongoing tax audits and provisions related to research tax credits and payroll taxes for multiple past fiscal years, indicating potential financial liabilities.

Analyst Insight

Investors should closely monitor the outcomes of the ongoing tax audits and the financial impact of related provisions on Inventiva's balance sheet.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-04-03 — Filing Date (Date the 20-F was filed)
• 2024-03-07 — Trial Results Presentation Date (Legend Phase IIa Combination Trial)
• 2023-08-30 — Share Issuance Date (August 2023 Share Issuance related to Lanifibranor)

Key Players & Entities

• Inventiva S.A. (company) — Filer of the 20-F report
• David Nikodem (person) — Associated with various share warrant plans
• Lanifibranor (company) — Drug mentioned in clinical trial context
• Empagliflozin (company) — Drug mentioned in clinical trial context
• Pharmaceutical Research Associates B.V. (company) — Contract CRO

FAQ

Risk Factors

• Tax Audit Provisions [medium — financial]: The company has made provisions for potential liabilities arising from tax audits concerning payroll taxes and research tax credits for various past fiscal years.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-04-03: Filing Date — Date Inventiva S.A. submitted its 20-F annual report.
• 2024-03-07: Trial Results Presentation — Presentation of results from a Phase IIa combination trial with lanifibranor and empagliflozin.

Key Financial Figures

• $ — ll references in this annual report to "$," "US$," "U.S.$," "U.S. dollars," "doll
• $58.0 million — , having an aggregate offering price of $58.0 million from time to time, which has a term unt

Filing Documents

• iva-20231231x20f.htm (20-F) — 6226KB
• iva-20231231xex1d1.htm (EX-1.1) — 93KB
• iva-20231231xex2d4.htm (EX-2.4) — 252KB
• iva-20231231xex4d1.htm (EX-4.1) — 16KB
• iva-20231231xex4d2.htm (EX-4.2) — 9KB
• iva-20231231xex4d3.htm (EX-4.3) — 10KB
• iva-20231231xex4d4.htm (EX-4.4) — 5KB
• iva-20231231xex4d8.htm (EX-4.8) — 300KB
• iva-20231231xex4d9.htm (EX-4.9) — 133KB
• iva-20231231xex12d1.htm (EX-12.1) — 11KB
• iva-20231231xex12d2.htm (EX-12.2) — 11KB
• iva-20231231xex13d1.htm (EX-13.1) — 8KB
• iva-20231231xex15d1.htm (EX-15.1) — 11KB
• iva-20231231xex97.htm (EX-97) — 38KB
• iva-20231231x20f005.jpg (GRAPHIC) — 41KB
• iva-20231231x20f006.jpg (GRAPHIC) — 16KB
• iva-20231231x20f019.jpg (GRAPHIC) — 3KB
• iva-20231231xex4d9001.jpg (GRAPHIC) — 2KB
• iva-20231231xex15d1001.jpg (GRAPHIC) — 3KB
• 0001104659-24-042817.txt (&nbsp;) — 29529KB
• iva-20231231.xsd (EX-101.SCH) — 206KB
• iva-20231231_cal.xml (EX-101.CAL) — 97KB
• iva-20231231_def.xml (EX-101.DEF) — 741KB
• iva-20231231_lab.xml (EX-101.LAB) — 1135KB
• iva-20231231_pre.xml (EX-101.PRE) — 1119KB
• iva-20231231x20f_htm.xml (XML) — 6705KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 148 PART II 154 Item 13. Defaults, Dividend Arrearages and Delinquencies. 154 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds. 154 Item 15.

Controls and Procedures

Controls and Procedures. 154 Item 16. [RESERVED] 155 Item 16A. Audit Committee Financial Expert. 155 Item 16B. Code of Business Conduct and Ethics. 155 Item 16C. Principal Accountant Fees and Services. 155 Item 16D. Exemptions from the Listing Standards for Audit Committees. 156 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers. 156 Item 16F. Change in Registrant's Certifying Accountant. 156 Item 16G. Corporate Governance. 156 Item 16H. Mine Safety Disclosure. 157 Item 16I . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 157 Item 16k. cybersecurity . 157 PART III 159 Item 17.

Financial Statements

Financial Statements. 159 Item 18.

Financial Statements

Financial Statements. 159 Item 19. Exhibits. 160 2 Table of Contents INTRODUCTION Unless otherwise indicated, "Inventiva," "the company," "our company," "we," "us" and "our" refer to Inventiva S.A. "INVENTIVA," "PanNASH," the Inventiva logo and other trademarks or service marks of Inventiva S.A. appearing in this Annual Report on Form 20-F, or annual report, are the property of Inventiva S.A. Solely for convenience, the trademarks, service marks and trade names referred to in this annual report are listed without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their right thereto. All other trademarks, trade names and service marks appearing in this annual report are the property of their respective owners. We do not intend to use or display other companies' trademarks and trade names to imply any relationship with, or endorsement or sponsorship of us by, any other companies. Our audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRS, Accounting Standards as issued by the International Accounting Standards Board, or IASB. Our consolidated financial statements included in this annual report are presented in euros and, unless otherwise specified, all monetary amounts are in euros. All references in this annual report to "$," "US$," "U.S.$," "U.S. dollars," "dollars" and "USD" mean U.S. dollars and all references to "" and "euros," mean euros, unless otherwise noted. Throughout this annual report, references to ADSs mean ADSs or ordinary shares represented by such ADSs, as the case may be. 3 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 20-F, or annual report, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities E

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Our business faces significant risks. You should carefully consider all of the information set forth in this annual report and in our other filings with the United States Securities and Exchange Commission, or the SEC, including the following risk factors which we face and which are faced by our industry. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. This report also contains forward-looking statements that involve risks and uncertainties. Our results could materially differ from those anticipated in these forward-looking statements, as a result of certain factors including the risks described below and elsewhere in this annual report and our other SEC filings. See "Special Note Regarding Forward-Looking Statements" above. 7 Table of Contents Risks related to our Financial Position and Need for Additional Capital We require substantial additional funding, which may not be available to us on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force us to curtail, delay or discontinue our product candidate development efforts or other operations. These factors raise substantial doubt regarding our ability to continue as a going concern. As of December 31, 2023, we had 26.9 million of available cash and cash equivalents, consisting of cash and short-term deposit accounts that are liquid and easily convertible within 3 months without penalty or risk of change in value. We also had 0.01 million of short-term deposits we consider liquid and easily available, and a 9.0 million long-term, two-year deposit forward contract entered into during the first quarter of 2023, included in "other non-current assets", but accessible prior to the expiration of the term upon 31 days written notice.

View Full Filing

View this 20-F filing on SEC EDGAR