DBV Technologies Secures €166.7 Million to Fund Potential US Launch of Peanut Allergy Patch
Châtillon, Saturday, 17 January 2026.
Capitalizing on positive Phase 3 data, DBV Technologies has secured €166.7 million to finance the potential US commercial launch of its VIASKIN peanut allergy patch, effectively extending its operational runway through the critical commercialization phase.
Financial Runway Extended Through Warrant Exercise
On January 16, 2026, DBV Technologies (Nasdaq: DBVT) formally announced the receipt of €166.7 million in gross proceeds, a liquidity event resulting from the full exercise of warrants originally issued during its March 2025 financing [1][2]. This infusion of capital is strategically designated to support the company’s operations for at least the next 12 months, providing the necessary financial stability to advance its pipeline [1][2]. Specifically, the funds are allocated for working capital requirements and the commercial preparedness necessary to launch the VIASKIN® Peanut patch for children aged 4 to 7 in the United States, contingent upon regulatory approval [1]. The company is also utilizing these resources to prepare for a potential Biologics License Application (BLA) submission [2].
Trigger Mechanism and Clinical Success
The execution of these financial instruments was directly tied to clinical milestones. The ABSA Warrants and BS Warrants were exercisable until January 15, 2026, a deadline set 30 days following the company’s announcement of positive topline results from the VITESSE Phase 3 trial on December 16, 2025 [1][3]. The successful outcome of the VITESSE trial served as the catalyst for this capital influx, allowing the Châtillon-based biopharmaceutical company to convert speculative financial instruments into tangible operational cash [1][3]. The financing structure involved the exercise of 34,090,004 ABSA Warrants at a price of €1.5939 and 71,005,656 BS Warrants at €1.5764 [1][2].
Dilution and Shareholder Structure Analysis
While the capital raise strengthens the balance sheet, it has materially altered the company’s equity structure through the issuance of 59,657,507 new ordinary shares derived from the ABSA Warrants [1]. For existing investors, this resulted in a dilution of approximately 22 percent, as a shareholder previously holding 1.00% of the capital now holds 0.78% on a non-diluted basis [1]. Major institutional holdings have shifted accordingly; Baker Brothers Investments, which previously held 11.08% of the share capital, now holds 8.64%, while Suvretta’s stake adjusted from 8.45% to 6.82% [1]. Conversely, Janus Henderson has emerged with a significant position, holding 7.54% of the share capital following the new share issuance [1].
Market Position and Outlook
This financial development positions DBV Technologies to focus heavily on its regulatory and commercial goals without the immediate pressure of near-term fundraising. With the VITESSE results in hand and the warrant proceeds secured as of mid-January 2026, the company’s immediate focus turns to the U.S. market and the regulatory pathway for its patch technology [1][2]. The market reacted to the company’s trajectory prior to the formal announcement, with DBVT stock showing a pre-news increase of 10.53% [2]. As the company moves forward, it will update its going-concern evaluation in its upcoming Annual Report on Form 10-K [1].