MetaVia Inc. · NASDAQ:MTVA
MetaVia — Investor Presentation (November 2026)
54 slides from MetaVia's investor presentation, Nov 5, 2026
Slide 1: MetaVia Inc. Transforming Cardiometabolic Diseases
1 MetaVia Inc. Transforming Cardiometabolic Diseases November 2026 Nasdaq: MTVA MetaVia Inc. — DA -1726 & vanoglipel programs, November 2026
Slide 2: Disclaimers
2 Disclaimers This presentation (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 th
Slide 3: Disclaimers
3 Disclaimers No head-to-head study has been conducted between DA-1726 or vanoglipel and any product or product candidate shown in this Presentation. Data for products other than DA-1726 and vanoglipel are based on publicly available third-party sources, including company disclosures and peer-review
Slide 4: Investment Highlights
Investment Highlights Two clinical-stage liver-metabolic assets with five catalysts over the next fifteen months 4 TWO ASSETS, ONE LIVER STRATEGY MetaVia is now a liver-focused cardiometabolic company: DA-1726 toward MetALD / ALD, vanoglipel + resmetirom toward MASH — one disease continuum, two entr
Slide 5: A Liver-Focused Cardiometabolic Company
A Liver-Focused Cardiometabolic Company Two assets, one disease continuum — open white space at the MetALD / ALD end; a validated path and a $1B-a-year incumbent at the MASH end 5 MASLD metabolic drivers, little or no alcohol MASH steatohepatitis with fibrosis — 2 approved drugs MetALD metabolic dri
Slide 6: Leadership Team
Leadership Team 6 EXECUTIVE LEADERSHIP Hyung Heon Kim Chief Executive Officer – 20+ years in M&A, financing and corporate governance; 10+ years of licensing and M&A with Dong-A Group – Former General Counsel and SVP, Dong-A ST and Dong-A Socio Group – JD, Washington University School of Law Sarah Br
Slide 7: DA-1726 — Part 3B Interim Results
DA-1726 — Part 3B Interim Results at 16 Weeks A once-weekly 3:1 GLP1R/GCGR dual agonist for obesity, with potential in MetALD/ALD. Day 109 interim: −68% placebo-adjusted liver fat, −13.5% placebo-adjusted body weight and −0.24 pp HbA1c vs. placebo, lean mass relatively preserved — and no new GI adve
Slide 8: Part 3B Interim Highlights
Part 3B Interim Highlights at 16 Weeks ✓ Consistent reductions across visceral and subcutaneous fat depots — VAT −22% (p<0.001), ASAT −19% (p=0.002), TAT −19% (p<0.001) — and waist circumference −9.1% (placebo-adjusted, p<0.001). ✓ HbA1c −0.44 pp on DA-1726 (p<0.001) and −0.24 pp vs. placebo (p=0.00
Slide 9: DA-1726 in MetALD / ALD
DA-1726 in MetALD / ALD DA-1726 also carries potential in liver-focused MetALD/ALD, consistent with GCGR's role in adipose and hepatic fat. Planning for a Phase 2, 48-week, non-biopsy study in MetALD with up to 150 subjects, targeted to start in 2H 2027. 9 MetaVia Inc. — DA-1726 & vanoglipel program
Slide 10: Metabolic and Alcohol-Associated Liver Disease (MetALD)
Metabolic and Alcohol-Associated Liver Disease (MetALD) – A Newly Defined Disease Impacted by Cardiometabolic Risk and Moderate Drinking Sources: Rinella ME, et al., 2023 Multi-Society Delphi Nomenclature, Hepatology 2023;78(6):1966–1986 One glass = 5 oz of wine, about 14 g of alcohol; counts are ap
Slide 11: Sizing MetALD: A Wide Range, and Why
Sizing MetALD: A Wide Range, and Why Published US prevalence estimates span 5.6M to 33M — nearly 6× — mostly because self-reported alcohol intake badly undercounts true consumption 0M 5M 10M 15M 20M 25M 30M 35M Company estimate: 10.7M FLOOR 5.6–5.8M 2.14–2.20% of US adults NHANES self-report, uncorr
Slide 12: Why MetaVia Can Lead in MetALD
Why MetaVia Can Lead in MetALD Nobody is set to generate MetALD-specific evidence — or a MetALD label — near term. The first program that does owns the indication and the regulatory conversation. MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026 12 MetALD is empty. no approved therapy; eve
Slide 13: DA-1726 Phase 2 in MetALD / ALD: Planned Study Design
DA-1726 Phase 2 in MetALD / ALD: Planned Study Design Randomized, double-blind, placebo-controlled, non-biopsy — planned with leading hepatology investigators; start targeted 2H 2027 MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026 13 STUDY DESIGN AT A GLANCE (PLANNED) PLANNED DESIGN — DI
Slide 14: DA-1726: Part 3B Interim Results
DA-1726: Part 3B Interim Results MetaVia's own DA-1726 — a 3:1 GLP1R/GCGR dual agonist. 14 MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026
Slide 15: DA-1726: Mechanism & the Part 3B Trial
1 DA-1726: Mechanism & the Part 3B Trial WHAT IS DA-1726? Mechanism: A novel oxyntomodulin (OXM) analogue — a dual agonist of the GLP-1 receptor (GLP1R) and glucagon receptor (GCGR), dosed once weekly, subcutaneously. In development for obesity and potential for liver focused MetALD/ALD. 3:1 design
Slide 16: Baseline Characteristics
2 Baseline Characteristics Part 3B, safety population — DA-1726 (n=15) vs. placebo (n=4). Mean (SD) unless noted. 16 MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026 Characteristic DA-1726 64 mg (n=15) Placebo (n=4) Age, years 43.7 (10.9) 50.3 (4.9) Male, n (%) 11 (73.3) 1 (25.0) Body wei
Slide 17: Where DA-1726 Stands After 16 Weeks
3 Where DA-1726 Stands After 16 Weeks MetALD = a steatotic liver + at least one cardiometabolic risk factor. DA-1726 moved all three in 16 weeks. -68% Placebo-adjusted liver fat reduction MRI-PDFF, GMR 0.32 vs. placebo, Day 109, n=12; p<0.001 -13.5% Body weight, placebo-adjusted −13.5 kg absolute di
Slide 18: Liver Fat
4 Liver Fat MRI-PDFF, Part 3B interim — Day 109 (~16 weeks) 5.2% Baseline liver fat (MRI-PDFF) 64 mg dose, n=12. Placebo baseline 8.0% (n=4). -68% Placebo-adjusted (GMR) GMR 0.32, Day 109; p<0.001 5 of 5 Baseline steatosis (≥5%): all normalized All five below 5% by Day 109 — e.g., the highest, 12.8%
Slide 19: Body Weight
5 Body Weight Part 3B interim, obesity population — Day 109 (~16 weeks), n=15 active vs. 4 placebo, 64 mg target dose 98.6 kg Baseline body weight DA-1726 arm mean, 64 mg target dose, n=15 (placebo n=4). -12.2 kg Change from baseline, Day 109 DA-1726 arm (n=15): −12.19 kg, −11.9% (both p<0.001). Pla
Slide 20: Glycemic Control: HbA1c
6 Glycemic Control: HbA1c Part 3B interim, obesity population without diabetes — Day 109 (~16 weeks), n=15 active vs. 4 placebo, 64 mg target dose 5.79% Baseline HbA1c DA-1726 arm mean, n=15 (placebo 5.65%, n=4). Prediabetes range (5.7–6.4%); no subject with diabetes. -0.44 pp Change from baseline,
Slide 21: Body Composition: Fat vs. Lean Mass
7 Body Composition: Fat vs. Lean Mass MRI sub-study (AMRA), Part 3B interim — 64 mg target dose, 16-wk titration (n=12 active vs. 4 placebo) 21 ONE SUBJECT, BASELINE → DAY 109 · AMRA FAT-COMPARTMENT SEGMENTATION Baseline Day 109 (~16 weeks) Visceral adipose tissue (VAT) Abdominal subcutaneous adipos
Slide 22: Waist Circumference
8 Waist Circumference Part 3B interim, obesity population — Day 109 (~16 weeks), n=15 active vs. 4 placebo, 64 mg target dose 107.5 cm Baseline waist circumference 64 mg target dose, n=15 active (n=4 placebo). -9.6 cm Change from baseline, Day 109 DA-1726 arm (n=15): −9.6 cm, −9.0% (both p<0.001). P
Slide 23: Safety & Tolerability: GI Adverse Events
9 Safety & Tolerability: GI Adverse Events Maximum severity per subject, per preferred term — Part 3B interim (N=15 active, N=4 placebo). Placebo reported 0% on every term below (small n; not a powered comparison). Preferred term Mild Moderate Severe Any grade Any GI AE (Gastrointestinal disorders,
Slide 24: GI Adverse Events: Prevalence vs. Instances
10 GI Adverse Events: Prevalence vs. Instances Same GI AE data as the prior table, visualized two ways: prevalence (subjects affected, worst grade each) vs. instances (total episodes, graded at onset) — Part 3B interim (N=15 active). 24 Prevalence Number of subjects with ≥1 event (of N=15), each sub
Slide 25: DA-1726: Layered Patent Protection
DA-1726: Layered Patent Protection Two granted composition-of-matter families — the core chemistry and a product-specific family — with exclusivity to 2041 25 MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026 29 granted patents across both families 16 jurisdictions with granted patents inc
Slide 26: Competitive Landscape
Competitive Landscape Five leading GLP-1-based obesity and MASH comparators — Tirzepatide, Retatrutide, Mazdutide, Survodutide, and Pemvidutide. No head-to-head study has been conducted between DA-1726 and any product shown in this section; the data reflect different trials, populations, doses, and
Slide 27: Competitive Landscape: Positioning
12 Competitive Landscape: Positioning Obesity and weight-related endpoints, positioned by mechanism, dosing, and development stage across all six programs. DA-1726 Tirzepatide Retatrutide Mazdutide Survodutide Pemvidutide Mechanism GLP-1/GCG dual agonist 3:1 GLP1R:GCGR ratio GLP-1/GIP dual agonist G
Slide 28: Competitive Landscape: DA-1726 (MetaVia)
13 Competitive Landscape: DA-1726 (MetaVia) GLP1R/GCGR dual agonist (OXM analogue), 3:1 ratio · Part 3B interim: Ph.1 obesity dose-titration (16→32→64 mg SC, QW) · Day 109 (~16 wk), n=15 active/4 placebo Body Weight Baseline 98.6 kg Day 109 (~16 wk): −12.2 kg from baseline −13.5% placebo-adjusted, p
Slide 29: Competitive Landscape: Tirzepatide
14 Competitive Landscape: Tirzepatide GLP-1/GIP dual agonist · Pivotal: SURMOUNT-1 (Ph.3, obesity) · 15 mg (comparator dose used throughout) · approved for obesity (Zepbound, Nov 2023) 29 Body Weight Baseline 104.8 kg (SURMOUNT-1 trial-wide mean, all arms) Early — wk 20 (pooled tirzepatide): −12.8 k
Slide 30: Competitive Landscape: Retatrutide
15 Competitive Landscape: Retatrutide GLP-1/GIP/GCG triple agonist · Pivotal: TRIUMPH-1 (Ph.3, obesity) · 12 mg (comparator dose used throughout) Body Weight Baseline 112.7 kg (TRIUMPH-1 trial-wide average, all doses) Early — wk 24 (12 mg): −15.8% placebo-adjusted (own-arm −17.5%; 95% CI −17.6 to −1
Slide 31: Competitive Landscape: Mazdutide
16 Competitive Landscape: Mazdutide GLP-1/GCG dual agonist · Pivotal: Lilly Ph.2 (obesity) · 16 mg for obesity endpoints; 6 mg for liver fat (GLORY-1, Ph.3) Body Weight Baseline 109.7 kg Early — wk 12 (9 mg): −9.8% placebo-adjusted Pivotal — 48 wk (16 mg): −22.3% Waist Circumference Baseline 115.8 c
Slide 32: Competitive Landscape: Survodutide
17 Competitive Landscape: Survodutide GLP-1/GCG dual agonist · Pivotal: SYNCHRONIZE-1 (Ph.3, obesity) · 6.0 mg (comparator dose used throughout) Body Weight Baseline 108.8 kg (trial-wide, not dose-specific) Early — wk 46 (4.8 mg): −12.1% placebo-adjusted Pivotal — 76 wk (6.0 mg): −16.6% Waist Circum
Slide 33: Competitive Landscape: Pemvidutide
18 Competitive Landscape: Pemvidutide GLP-1/GCG dual agonist · Pivotal: MOMENTUM (Ph.2, obesity); IMPACT (Ph.2b, MASH) · 2.4 mg for obesity endpoints; 1.8 mg for liver fat (IMPACT) Body Weight Baseline 104.0 kg Early — wk 24 (2.4 mg): −9.7% placebo-adjusted, same trial as the pivotal figure Pivotal
Slide 34: Competitive Landscape: Liver Fat, VAT, ASAT & TAT Over Time
Competitive Landscape: Liver Fat, VAT, ASAT & TAT Over Time Cross-trial comparison — each dot is one reported readout at the comparator dose. Liver fat placebo-adjusted; VAT / ASAT / TAT own-arm. Not head-to-head. 34 LIVER FAT (MRI-PDFF) — PLACEBO-ADJUSTED % CHANGE -28% -47% -81% -75% -56% -39% -46%
Slide 35: Competitive Landscape: Weight Loss Over Time
Competitive Landscape: Weight Loss Over Time Cross-trial comparison — placebo-adjusted % change from baseline at the comparator dose, early and pivotal readouts. Not head-to-head. 35 BODY WEIGHT — PLACEBO-ADJUSTED % CHANGE FROM BASELINE -15.8% -22.1% -26.1% -20.1% -17.2% -22.3% -13.4% -13.4% -30% -2
Slide 36: MetALD – A New Frontier with High Unmet Patient Need
MetALD – A New Frontier with High Unmet Patient Need Sources: Younossi et al., Lancet Gastroenterol Hepatol 2026;11:495–508 (U.S.); Ho et al., Clin Gastroenterol Hepatol 2025;23:2423–2432 (global meta-analysis); Nakahata et al., Liver Int 2025;45:e70454 (Japan); Lin et al., Hepatol Commun 2025;9:e07
Slide 37: Vanoglipel (DA-1241) + Resmetirom
Vanoglipel (DA-1241) + Resmetirom Resmetirom leaves most patients without NASH resolution and delivers no weight loss. Vanoglipel addresses both — orally, once daily, with a placebo-like tolerability record in 108 patients — and the effect is synergistic, not additive. MetaVia Inc. — DA-1726 & vanog
Slide 38: The Incumbent Leaves Two Gaps Open
1 The Incumbent Leaves Two Gaps Open Resmetirom (Rezdiffra) — first approved MASH therapy. Its own label defines what a combination must add. 38 24–36% achieve NASH resolution Phase 3 MAESTRO-NASH, Month 12 — range across doses and two pathologist reads 64–76% do not achieve resolution complement of
Slide 39: Vanoglipel Is Already De-Risked in Patients
2 Vanoglipel Is Already De-Risked in Patients Phase 2a, NCT06054815 — 16 weeks, randomized, double-blind, placebo-controlled, N=109 presumed MASH 39 −22.8 U/L ALT at Week 16 vs −6.7 U/L placebo · 100 mg −23.0 dB/m Liver fat (CAP) at Week 16 vs −1.4 dB/m placebo Week 4 HbA1c already falling sustained
Slide 40: Two Mechanisms That Do Not Overlap
3 Two Mechanisms That Do Not Overlap Vanoglipel acts on the cells that drive injury, inflammation and scarring; resmetirom acts on hepatic lipid handling 40 VANOGLIPEL — GPR119, DIRECT CELLULAR ACTION IN LIVER VANOGLIPEL — EXTRAHEPATIC CONTEXT RESMETIROM — THR-β, HEPATIC LIPID HANDLING – Liver-direc
Slide 41: Synergy I: the Combination Improved NAS in Every Mouse Treated
4 Synergy I: the Combination Improved NAS in Every Mouse Treated Resmetirom alone barely moves NAS. GAN DIO-MASH mice, paired pre-/post-treatment biopsy, 16 weeks, n=16–18 per group 41 NAS CHANGE, PRE- TO POST-BIOPSY — % OF ANIMALS 50.0 11.1 29.4 44.4 55.6 47.1 18.8 5.6 27.8 17.6 75.0 5.6 5.9 6.3 0%
Slide 42: Synergy II: Weight Loss Appears Only When the Two Are Combined
5 Synergy II: Weight Loss Appears Only When the Two Are Combined Two species. Neither monotherapy reduced body weight; the combination did. Mouse food intake was unchanged; monkey intake fell with dosing 42 MICE — BODY WEIGHT, % CHANGE FROM BASELINE (16 WEEKS) -20 -15 -10 -5 0 5 10 15 20 0 20 40 60
Slide 43: Why It Is Synergistic: a Program Neither Drug Switches On Alone
6 Why It Is Synergistic: a Program Neither Drug Switches On Alone Adipose tissue is remodeled — smaller, more numerous adipocytes, browning markers up, inflammation down 43 −36% adipocyte size µm² per cell, eWAT +47.5% adipocyte number per mm², eWAT +41% UCP-1 protein IHC, % fractional area · trend,
Slide 44: What the Data Show — and What 2027 Will Answer
7 What the Data Show — and What 2027 Will Answer An honest ledger. The anti-fibrogenic signal is strong at the marker level; the regulatory endpoint is answered in the clinic 44 FIBROSIS AND FIBROGENESIS MARKERS — % REDUCTION vs CONTROL 25 22 52 30 25 28 39 34 54 0 10 20 30 40 50 60 PSR (fibrosis ar
Slide 45: Target Indication MASH: Combination Profile
Target Indication MASH (F2/F3 +/- F4) Class vanoglipel (GPR119 agonist) + resmetirom (THR-β agonist) combination therapy Mode of Action vanoglipel (GPR119)-mediated • Inhibition of de novo lipogenesis • Inhibition of macrophage differentiation and inflammatory activation • Inhibition of TGFβ-induced
Slide 46: From Combination Data to a Single Oral Tablet
9 From Combination Data to a Single Oral Tablet The regulatory, clinical, safety, supply and IP steps between today's nonclinical synergy and a fixed-dose combination for MASH 46 REGULATORY – FDA meeting on the combination data — H2 2026 – To settle: need for a combination toxicology study; biopsy r
Slide 47: A Large and Growing US Patient Opportunity for the Combination
10 A Large and Growing US Patient Opportunity for the Combination Independent, patient-based assessment of the vanoglipel + resmetirom fixed-dose combination in MASH — US patients, launch 2032 47 US MASH PATIENT FUNNEL AT PEAK (2042) — WHERE THE COMBINATION FITS ~22M US adults with MASH prevalence ~
Slide 48: Timeline and Financials
Timeline and Financials Near-term catalysts across both programs — DA-1726 obesity readouts and the vanoglipel + resmetirom combination path. MetaVia Inc. — DA-1726 & vanoglipel programs, November 2026 48
Slide 49: Multiple Near-Term Catalysts to Drive Shareholder Value
1 Multiple Near-Term Catalysts to Drive Shareholder Value Both programs — DA-1726 obesity readouts and the MetALD / ALD start, then the vanoglipel + resmetirom combination path through 2027 49 2026 2027 H1 H2 H1 H2 DA-1726 Obesity → MetALD / ALD Vanoglipel + resmetirom MASH combination ✓ Q1 2026 Pha
Slide 50: Financial Overview and Capitalization
2 Financial Overview and Capitalization Balance sheet and capitalization as of June 30, 2026, and where capital is directed 50 $12.6M cash and cash equivalents as of June 30, 2026 · no debt Into 1Q 2027 expected cash runway based on the current operating plan 6.58M common shares outstanding 15.77M f
Slide 51: Positioned for Value Creation
Positioned for Value Creation Two assets on one liver continuum, both with human data, both with a defined next study and a date 51 WHAT WE HAVE – DA-1726: −68% liver fat, −13.5% weight and −0.24 pp HbA1c, all placebo-adjusted, at Day 109, with no new GI adverse events after Week 9 – Vanoglipel: ALT
Slide 52: Appendix
52 Appendix
Slide 53: Poster on Gubra DIO-MASH Model Translation to Clinical
53 Poster on Gubra DIO-MASH Model Translation to Clinical
Slide 54: Potential Algorithm to Manage Resmetirom Treatment in Clinical Practice
Liver Int. 2024 Jul;44(7):1526-1536 Potential Algorithm to Manage Resmetirom Treatment in Clinical Practice