Inventiva S.A.
IVA evidence brief
What we can confirm
- Market Cap:
- $949.6M
What it means
What to watch
Prepared research question
What matters most for IVA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IVA
Inventiva S.A. is a clinical-stage biopharmaceutical company developing lanifibranor, a pan-PPAR agonist for MASH, with no approved products and a pivotal Phase 3 readout expected in Q4 2026.
Key risk: Single-asset dependency
Market Cap
$949.6M
Cash Runway
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Lead Asset
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Next Catalyst
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Tracking 2 clinical trials for Inventiva S.A..
Inventiva S.A. is a clinical-stage biopharmaceutical company developing lanifibranor, a pan-PPAR agonist for MASH, with no approved products and a pivotal Phase 3 readout expected in Q4 2026.
- Cash and cash equivalents of €166.1 million and €67.8 million in short-term deposits as of June 30, 2026 [news · published 2026-09-28]
- Topline results of the Phase 3 NATiV3 trial of lanifibranor in MASH are expected in Q4 2026 [news · published 2026-09-28]
- The NATiV3 trial enrolled 1,009 patients in the main cohort and 410 in the exploratory cohort, with the last patient completing the 72-week visit in September 2026 [news · published 2026-09-02]
- First-half 2026 net loss was €69.5 million, and the company has no commercial products generating revenue [news · published 2026-10-04]
- Cash runway extends only into Q2 2027, based on the most recent guidance [news · published 2026-10-04]
What works
- Inventiva holds €233.9 million in total cash and short-term deposits as of June 30, 2026, providing a multi-quarter operational runway [news · published 2026-09-28]
- The Phase 3 NATiV3 trial is fully enrolled with 1,419 patients, and topline data are on track for Q4 2026, a major near-term catalyst [news · published 2026-09-02]
- Lanifibranor's balanced pan-PPAR pharmacology has shown differentiated metabolic and cardiovascular profiles in Phase 1/2 studies [news · published 2026-09-08]
What to weigh
- Inventiva has no approved commercial products and generated only €4.5 million in revenue in 2025, relying entirely on trial outcomes [news · published 2026-02-17]
- The company reported a first-half 2026 net loss of €69.5 million, with cash runway extending only into Q2 2027 [news · published 2026-10-04]
- The MASH market is becoming a combination therapy landscape, potentially limiting lanifibranor's standalone opportunity [news · published 2026-08-05]
From the filings
Quoted directly from source documents.
Cash position as of June 30, 2026
“Cash and cash equivalents at €166.1 million and €67.8 million in short-term deposits1 as of June 30, 2026”
News · September 28, 2026
NATiV3 topline results expected in Q4 2026
“Topline results of the Phase 3 NATiV3 clinical trial are expected in the fourth quarter of 2026”
News · September 28, 2026
NATiV3 enrollment and last patient visit
“Last patient completed final 72-week visit in NATiV3, with 1,009 patients enrolled in the main cohort and 410 patients in the exploratory cohort”
News · September 2, 2026
First-half 2026 net loss and cash runway
“cash runway that extends only into Q2 2027 against a €69.5 million first-half net loss”
News · October 4, 2026
Catalyst timeline
- 2026-12-31 · Phase 3 NATiV3 topline results — Topline data from the fully enrolled Phase 3 trial of lanifibranor in MASH are expected in Q4 2026; this is the company's most critical near-term catalyst.
Risks & what to watch (3)›
Key risks
- Single-asset dependency — Inventiva has no approved products; its entire valuation hinges on lanifibranor's Phase 3 success [news · published 2026-10-04]
- Cash runway limited to Q2 2027 — With a €69.5 million H1 2026 net loss, cash runway extends only into Q2 2027, requiring near-term financing or partnership [news · published 2026-10-04]
- MASH market becoming combination-driven — The MASH market is evolving toward combination therapies, which may reduce lanifibranor's standalone commercial potential [news · published 2026-08-05]
What to watch
- Topline results of the Phase 3 NATiV3 trial expected in Q4 2026 [news · published 2026-09-28]
- Potential NDA submission for lanifibranor in H1 2027 if NATiV3 is positive [news · published 2026-09-28]
- Cash runway updates and any new financing or partnership announcements [news · published 2026-10-04]
Sources: Catalysts · News · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
66
Total value held
$290.1M
| Holder | Shares | Value |
|---|---|---|
| samsara biocapital, llc | 5,194,805 | $28.8M |
| caligan partners lp | 4,974,906 | $27.6M |
| paradigm biocapital advisors lp | 4,000,000 | $22.2M |
| millennium management llc | 2,987,613 | $16.6M |
| trails edge capital partners, lp | 2,657,997 | $14.8M |
| franklin resources inc | 2,461,565 | $13.7M |
| symbiosis capital partners, llc | 2,354,000 | $13.1M |
| ubs group ag | 2,318,693 | $12.9M |
| adar1 capital management, llc | 2,174,398 | $12.1M |
| polar capital holdings plc | 2,132,138 | $11.8M |
Showing top 10 of 66 institutional holders of Inventiva S.A.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 0.2%
- Days to cover
- 1.0
- Shares short
- 438,164
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IVA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Inventiva S.A.?
Inventiva S.A. is a clinical-stage biopharmaceutical company developing lanifibranor, a pan-PPAR agonist for MASH, with no approved products and a pivotal Phase 3 readout expected in Q4 2026.
Who is the CEO of Inventiva S.A.?
Mr. Andrew Obenshain is the chief executive officer of Inventiva S.A. (IVA).
Where is Inventiva S.A. headquartered?
Inventiva S.A. (IVA) is headquartered in Daix, France.
What therapeutic areas does Inventiva S.A. focus on?
Inventiva S.A. develops therapies across Infectious Disease, Metabolic.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.