French biopharmaceutical company Inventiva SA on Thursday revealed it has expanded its U.S. share sale to approximately $150 million, as the clinical-stage firm detailed its plans to use the capital to advance liver disease therapies and support general corporate operations.

Originally, Inventiva announced Wednesday it intended to sell $125 million worth of new American depositary shares (ADSs) in an underwritten public offering. The final offering amount and share numbers were undecided at that time.

Offering Details: Nearly 39 Million ADSs at $3.85 Each

On Thursday, Inventiva confirmed the sale would involve approximately 38.96 million ADSs, priced at $3.85 per share, valuing the offering at roughly $150 million. The shares, listed on the Nasdaq Global Market, are being sold exclusively in the U.S.

The share sale, which began Wednesday, is expected to close on Nov. 17. Leerink Partners LLC and Piper Sandler are serving as underwriters for the offering.

Inventiva expects net proceeds of around $140.1 million, though the total could rise if underwriters exercise their option to purchase up to six million additional ADSs.

Capital to Fund Clinical Trials and Corporate Operations

Inventiva plans to allocate most of the proceeds to fund clinical trials, particularly for therapies targeting metabolic dysfunction-associated steatohepatitis (MASH), a liver disease. Remaining funds will support working capital and general corporate purposes.

The company, a clinical-stage biopharma specialist, focuses on oral therapies for MASH, a progressive liver condition.

Strategic Investor Participation

Samsara BioCapital L.P., which holds about 5.7% of Inventiva’s share capital, has subscribed to roughly five million ADSs, contributing around $20 million to the offering.

By expanding the offering, Inventiva positions itself to accelerate research timelines while ensuring the financial flexibility needed to navigate late-stage clinical development — a critical phase for any biopharma seeking to bring innovative therapies to market.