Inventiva S.A. (NASDAQ:IVA) Q4 2023 Earnings Call Transcript

Operator: [Operator Instructions]. We will now take the next question from the line of Jacob Mekhael from KBC Securities. Please go ahead.

Jacob Mekhael : Can you please provide some guidance on how we should look at R&D for 2024? And do you expect R&D to decrease once you have completed enrollment in the trial? And just perhaps maybe to go back on the target of 950 patients, do you think that target is achievable only with US sites or will you need the additional sites in order to reach that? And also, perhaps a second question on that is, do you need to meet certain thresholds in terms of patient numbers from each region?

Frederic Cren: In terms of R&D the job give you the highlights for the coming years and what our hypothesis on our planning. When we say we plan to reach enrollment by the end of each one, this include the contribution that are outside North America, so mostly from Europe, in terms of minimum numbers to achieve. I would say the only requirement, and if I’m wrong, I’ll ask — to intervene, but I think it came from the FDA wanted a certain percentage to come from the US and we have largely achieved that target.

Unidentified Company Representative: Maybe for your question about trend of the R&D expense, we should increase slightly in 2024, something around 10% plus 10%, but then as you mentioned, the year after ‘25 should decrease of course due to the end of the recruitment and the investment to finish up the recruitment.

Operator: Thank you. There are no further…

Frederic Cren: I think we lost the operator, but, so I’ll just make the conclusion just to mention that ‘23 was a busy year for our team Inventiva and 2024 will be another busy year with many milestones to achieve. What I think is really great for is that we have an incredible asset. We have an oral compound with a very attractive and competitive profile. And clearly, the data we have generated makes lani a compound that is where we will placed to make it through the finish line in NASH/MASH. And we’re convinced that lani will play a key role in the treatment of patient with NASH/MASH. So, thank you very much for attending. Thank you for your support and I look to continue the open dialogue throughout 2024. Thank you very much.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.