Metavia Inc. · NASDAQ:MTVA
Metavia — Investor Presentation (March 2026)
37 slides from Metavia's investor presentation, Mar 26, 2026
Slide 1: MetaVia Inc. Transforming Cardiometabolic Diseases
1 MetaVia Inc. Transforming Cardiometabolic Diseases Investor Presentation March 2026 www.metaviatx.com Nasdaq: MTVA
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use o
Slide 3: Market Opportunity: Obesity and MASH
3 Market Opportunity: Obesity and MASH MetaVia is Positioned to Pursue Two Fast-Growing, Multi-Billion Dollar Markets • Obesity: A Massive Global Therapeutic Market o 650M+ adults worldwide are clinically obese o Market expected to grow from ~$10B today to $80B–$130B+ annually by 2030 • MASH: Emergi
Slide 4: Clinical Stage Biotech Focused on Cardiometabolic Diseases
4 Clinical Stage Biotech Focused on Cardiometabolic Diseases Targeting Obesity and MASH with a Pipeline of Next Generation Therapeutics • DA-1726: Potential best-in-class profile for weight loss, glucose control, direct liver benefit and safety shown in Phase 1 studies At 48 mg (no titration) (a
Slide 5: Strong Leadership Team
5 Strong Leadership Team Executive Management Hyung Heon Kim, Chief Executive Officer Robert Homolka, SVP Clinical Operations Marshall H. Woodworth, Chief Financial Officer Mi-Kyung Kim, Ph.D., RPh, Chief Scientific Officer 20+ years of experience in M&A, financing and corporate governance 10+ y
Slide 6: Multiple Near-Term Catalysts to Drive Shareholder Value
6 Multiple Near-Term Catalysts to Drive Shareholder Value 2026 Vanoglipel (DA-1241) H1 2026 Meeting with FDA DA-1726 *These milestones assume regulatory and clinical success, which is not guaranteed *Gray boxes are prospective future studies, the timing and occurrence of which are subject to various
Slide 7: DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
Slide 8: DA-1726 (Oxyntomodulin Analogue) Mechanism of Action
8 DA-1726 (Oxyntomodulin Analogue) • Mimics a natural gut hormone released after meals Dual-Acting Therapy Leveraging the GLP-1 and Glucagon Pathways (3:1 Ratio) GLP1R/GCGR: glucagon-like peptide 1 receptor/glucagon receptor); GLP-1:glucagon-like peptide 1 1. Pocai A. Mol Metab.2014;3:241-51. Physio
Slide 9: Competitive Landscape – Efficacy
9 Competitive Landscape – Efficacy DA-1726 Pemvidutide1 Mazdutide2 Survodutide3 Retatrutide5 Developer MetaVia Altimmune Innovent/Lilly Boehringer Ingelheim/Zealand Lilly Status Phase 1 Phase 3 ready Phase 2 in US Phase 3 Phase 3 Action GLP-1R/GCGR (3:1) GLP-1R/GCGR (1:1) GLP-1R/GCGR (Unknown) GLP-1
Slide 10: Competitive Landscape – Adverse Events
10 Competitive Landscape – Adverse Events DA-1726 Pemvidutide1 Mazdutide2 Survodutide3 Retatrutide5 Developer MetaVia Altimmune Innovent/Lilly Boehringer Ingelheim/Zealand Lilly Status Phase 1 Phase 3 ready Phase 2/3 Phase 3 Phase 3 Action GLP-1R/GCGR (3:1) GLP-1R/GCGR (1:1) GLP-1R/GCGR (Unknown) GL
Slide 11: Recent Obesity Drug Transactions
11 Recent Obesity Drug Transactions Companies Date Stage Description Drug Deal Structure Deal Terms Pfizer / Metsera November 2025 Phase 3 Ready (Lead asset) GLP-1, Amylin analog, Oral peptide GLP-1 MET-097i MET-233i MET-224o MET-097o M&A ~$7 billion Novo Nordisk / Septerna May 2025 Pre-IND Oral Sma
Slide 12: DA-1726: Program Summary & Path Forward
12 DA-1726: Program Summary & Path Forward DA-1726: Differentiated efficacy with best-in-class potential across weight loss, glucose control, liver health, and safety 48 mg Key Takeaways Potential best-in-class metabolic profile • Strong efficacy without titration: (at Day 54) o –9.1% body weight o
Slide 13: Vanoglipel (DA-1241) GPR119 Agonist for MASH
Vanoglipel (DA-1241) Orally Available, Potential First-in-Class GPR119 Agonist for the Treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH)
Slide 14: Vanoglipel (DA-1241): Targeting MASH at Its Source
14 Vanoglipel (DA-1241): Targeting MASH at Its Source Harrison et al., Clinical Gastroenterology and Hepatology, 2023;21(8):2001-2014 GPR119 Activation • Found on key liver and immune cells driving MASH • Acts directly in the liver, not just indirectly Potential Benefits in MASH and Metabolism • Red
Slide 15: Vanoglipel: Liver Protection and Blood Sugar Benefits in MASH
15 Vanoglipel: Liver Protection and Blood Sugar Benefits in MASH Key Phase 2a Results (randomized, double-blind, 16 weeks, placebo-controlled): Liver function improved: ALT reduced by 22.8 U/L Inflammation & fibrosis markers improved: suggesting liver health benefits Enhanced glucose control in p
Slide 16: Vanoglipel Combos with SEMA or EFX Boost Liver Benefits in Mouse MASH Model
16 Vanoglipel Combos with SEMA or EFX Boost Liver Benefits in Mouse MASH Model Support the therapeutic potential of combining GPR119 agonists with GLP-1 RAs or FGF-21 analogues for the treatment of MASH: Combination therapy improved liver health—ALT, cholesterol, fat, inflammation, and fibrosis—mo
Slide 17: Vanoglipel: Summary & Next Steps
17 Vanoglipel: Summary & Next Steps Clinical Rationale & Opportunity • Vanoglipel is a novel GPR119 therapy for MASH and metabolic diseases • Demonstrated liver protection and glucose control in Phase 1 & 2a • Safe and well tolerated, including in combination therapy • Large market opportunity: MASH
Slide 18: Financials and Capitalization
Financials and Capitalization
Slide 19: Cash Balance and Capitalization Table
19 Cash Balance and Capitalization Table Financial Snapshot As of December 31, 2025 Cash and cash equivalents $10.3 million Debt None Capitalization Table as of December 31, 2025 Common Stock Equivalents Common Stock(1)(2) 2,308,294 Warrants (WAEP $63.13)(1)(3) 722,644 Options (WAEP $4,240.22) 420 R
Slide 20: Strong Clinical Progress Across Two High-Impact Programs
20 Strong Clinical Progress Across Two High-Impact Programs Targeting Obesity and MASH with a Pipeline of Next Generation Therapeutics • DA-1726: Potential best-in-class profile for weight loss, glucose control, direct liver benefit and safety shown in Phase 1 studies At 48 mg (no titration) (at
Slide 21: Positioned for Value Creation in Two High-Growth Markets
21 Positioned for Value Creation in Two High-Growth Markets • High-Impact Clinical Programs o DA-1726: Obesity program in a rapidly expanding drug class o Vanoglipel: Novel oral therapy targeting MASH • Large, Growing Addressable Populations o Obesity: broad population with increasing treatment adop
Slide 22: Thank You! Investor Contacts
Thank You! Investor Contacts: Rx Communications Group Michael Miller +1 917.633.6086 mmiller@rxir.com MetaVia Marshall Woodworth +1 919.749.8748 marshall.woodworth@metaviatx.com
Slide 23: Appendix
Appendix
Slide 24: DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
Slide 25: DA-1726: Phase 1 Clinical Program
25 DA-1726: Phase 1 Clinical Program Carefully planned to evaluate safety and efficacy of DA-1726 and dosing strategy to inform Phase 2 design Main Optional Extension for 48mg Cohort Part 3 Titration Dosing Strategy (16-week Duration) 48 mg 48 mg Q1 2026 Initiation Additional 4 weeks 16 mg 4 mg 8 mg
Slide 26: DA-1726 Phase 1 MAD Study: Body Weight Loss on Day 26
26 -0.9% -3.2% -1.7% -3.0% -4.3% -6.1% -7% -6% -5% -4% -3% -2% -1% 0% Change from Baseline (Day 26) Baseline body weight (kg) 96.7 84.4 89.3 96.0 90.4 110.4 Compelling, dose-dependent body weight loss seen in doses > 8 mg Pooled Placebo (n=14) 4 mg (n=6) 8 mg (n=5) 16 mg (n=6) 32 mg (n=6) 48 mg (n=6
Slide 27: DA-1726 Phase 1 MAD Study: Body Weight Loss in 48 mg Cohort
27 Mean Body Weight Mean Body Weight Change from Baseline Baseline Day 26 Day 54 DA-1726 48 mg 110.4 kg -6.1% (-6.6 kg) -9.1% (-9.6 kg) Placebo 109.0 kg -0.2% (-0.3 kg) -2.8% (-3.1 kg)* Placebo adjusted -5.9% -6.3% Placebo adjusted excluding outlier* -5.1% -7.7% *One placebo subject in the extension
Slide 28: DA-1726 Phase 1 MAD Study: Waist Circumference Change in 48 mg Cohort
28 -5.8 cm -9.8 cm -12 -10 -8 -6 -4 -2 0 Mean Waist Circumference (cm) Change from Baseline in 48 mg DA-1726 †* †* †p<0.05 from Baseline; *p<0.05 vs. placebo Mean Waist Circumference Mean Waist Circumference Change from Baseline Baseline Day 26 Day 54 DA-1726 48 mg 118.7 cm -5.0% (-5.8 cm) -8.5% (-9
Slide 29: DA-1726 Phase 1 MAD Study: Glucose Control in 48 mg Cohort
29 Baseline Day 54 DA-1726 48 mg 105.3 mg/dL 93 mg/dL Placebo 91.3 mg/dL 83 mg/dL 70 80 90 100 110 Day 1 Predose Day 54 Mean Fasting Glucose (mg/dL) in 48 mg DA-1726 mean Mean Fasting Glucose Baseline Day 54 DA-1726 48 mg 5.6% 5.4% Placebo 5.4% 5.3% Mean HbA1c 5.0 5.2 5.4 5.6 5.8 Day 1 Predose Day 5
Slide 30: DA-1726 Phase 1 MAD Study: VCTE in 48 mg Cohort
30 Baseline Day 54 DA-1726 48 mg 5.9 kPa 4.5 kPa Placebo 5.1 kPa 6 kPa 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 Day -1 Day 54 Mean VCTE (kPa) in 48 mg DA-1726 mean DA-1726 Phase 1 MAD Study: VCTE in 48 mg Cohort (Day 54) Mean VCTE VCTE=vibration controlled transient elastography VCTE (FibroScan®) is the most
Slide 31: Vanoglipel (DA-1241) GPR119 Agonist for MASH
Vanoglipel (DA-1241) Orally Available, Potential First-in-Class GPR119 Agonist for the Treatment of Metabolic Dysfunction-associated Steatohepatitis (MASH)
Slide 32: Phase 2a Randomized Double-blind Placebo-controlled Study Design in Presumed MASH
32 Phase 2a, 16-week, Randomized Double-blind, Placebo-controlled in Patients with Presumed MASH Primary Endpoint: Change from baseline in ALT level at Week 16 50 mg Vanoglipel (n=12) 100 mg Vanoglipel (n=25) Placebo (n=12) Part 1 Placebo (n=12) Part 2 100 mg Vanoglipel + 100 mg Sitagliptin (n=25) P
Slide 33: Vanoglipel Monotherapy vs. Placebo: CAP, FAST and NIS-4
33 Vanoglipel Monotherapy vs. Placebo Vanoglipel Reduced CAP Indicating Liver Fat Reduction and Improved At-risk MASH Biomarkers Including FAST and NIS-4 Scores -1.4 -16.9 -23.0 Placebo DA-1241 50 mg DA-1241 100 mg LSM of CFB CAP (dB/m) at W16 † † -0.082 -0.216 -0.196 Placebo DA-1241 50 mg DA-1241 1
Slide 34: Vanoglipel Monotherapy: Significant, Rapid Reduction in HbA1c
34 †* †* †* †* -0.6 -0.4 -0.2 0 0.2 W0 W4 W8 W16 LSM of CFB: HbA1c (%p) Over Time Placebo DA-1241 50 mg DA-1241 100 mg 0.1 -0.55 -0.54 Placebo DA-1241 50 mg DA-1241 100 mg LSM of CFB: HbA1c (%p) at W16 †* †* BL (%):6.74 6.36 6.99 Vanoglipel Monotherapy vs. Placebo Significant, Rapid Reduction in HbA
Slide 35: Vanoglipel + Sitagliptin Combination vs. Placebo
35 0.1 -0.55 -0.54 -0.66 Placebo DA-1241 50 mg DA-1241 100 mg Combo LSM of CFB: HbA1c (%p) at W16 †* †* BL (%): 6.74 6.36 6.99 6.61 Vanoglipel 100 mg + Sitagliptin 100 mg Combination vs. Placebo Enhanced Incretin Action With the Combination Therapy Augmented Glucose Control Leading to a Significant
Slide 36: Vanoglipel Controlled Plasma Glucose in Diabetic Subjects With Presumed MASH
36 †* †* Vanoglipel 100 mg + Sitagliptin 100 mg Combination vs. Placebo Vanoglipel Efficiently Controlled Plasma Glucose in Diabetic Subjects With Presumed MASH CFB=change from baseline; LSM=least square mean Loomba R, et al. EASL 2025. †* Greater Improvement of Glucose Control was Observed in Patie
Slide 37: Vanoglipel Favorable Safety & Tolerability Profile
37 Vanoglipel Showed a Favorable Safety & Tolerability Profile With No TEAE Leading to IP Discontinuation in Patients w/Presumed MASH n (%) Placebo (N=32) Vanoglipel 50 mg (N=14) Vanoglipel 100 mg (N=26) Vanoglipel 100 mg + Sitagliptin 100 mg (N=36) Subjects with any Treatment Related AE Mild Modera