MetaVia Inc. (NASDAQ:MTVA) (MetaVia or the Company), a clinical-stage biotechnology company focused on transforming cardiometabolic diseases, today announced the pricing of its underwritten public offering of shares of common stock (or common stock equivalents) and Series C Warrants and Series D Warrants for gross proceeds of approximately $8.1 million, prior to deducting underwriting discounts and commissions and offering expenses and excluding any potential future proceeds from the exercise of warrants.

The underwritten public offering is comprised of an aggregate of 2,613,544 shares of common stock (or common stock equivalents), 3,920,316 Series C Warrants and 3,920,316 Series D Warrants priced at a combined public offering price of $3.10 per share of common stock and accompanying Series C Warrants and Series D Warrants. The Series C Warrants are immediately exercisable, have an exercise price of $3.10, and expire on the five year anniversary of the initial issuance date. The Series D Warrants are immediately exercisable, have an exercise price of $3.10, and expire on the two year anniversary of the initial issuance date. The Series D Warrants are callable at the Company's option following the release of a positive data readout for its Phase 1b Part III clinical trial for DA-1726 via a widely disseminated press release, subject to satisfaction of certain conditions. The Series C Warrants and Series D Warrants issued in this offering are fixed priced and do not contain any variable pricing features or alternative exercise provisions.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with the underwritten public offering.

If fully exercised for cash, the Pre-Funded Warrants, the Series C Common Warrants and the Series D Common Warrant could yield up to approximately an additional $24.0 million in future gross proceeds. MetaVia intends to use the net proceeds from the underwritten public offering for working capital and general corporate purposes, including to continue the clinical development of DA-1726 for the treatment of obesity.

In addition, MetaVia granted the underwriters a 45-day option to purchase up to an additional 392,030 shares of common stock, 588,045 Series C Warrants and 588,045 Series D Warrants, at the public offering price of $3.10 per share, less underwriting discounts and commissions.

This underwritten public offering is expected to close on or about January 16, 2026, subject to the satisfaction of customary closing conditions.

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