05:05 PM EDT, 07/05/2024 (MT Newswires) -- Inventiva ( IVA ) said Friday its current funds would only finance its operations through the second half of July, and it is assessing options to raise additional funds to extend its cash runway.

"In order to finance its activities and advance its development objectives for its research and development programs, the company will need to raise additional funds," Inventiva ( IVA ) said, adding that it may implement additional cash preservation measures

in the short term.

The firm said it explored deals like the "issuance of debt, equity and other instruments, which thus far have not been successful."

It added that it's working to complete a royalty-based financing that would extend its cash runway through the summer of 2024, which it expects to announce in the near-term.

"Even if the royalty-based financing is successful (of which there can be no assurance), the company will need to raise additional funds, and it is continuing to actively evaluate potential financing...and strategic options," Inventiva ( IVA ) said.

The company also said recruitment in its trial of lanifibranor in people with non-alcoholic steatohepatitis continues in both groups, with more than 80% of the planned number of people enrolled in the main group, and 100% in the exploratory group.