Inventiva (IVA) 20-F 3 Apr 24 2023 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39374
Entity Registrant Name	Inventiva S.A.
Entity Incorporation, State or Country Code	I0
Entity Address, Address Line One	50 rue de Dijon
Entity Address, Postal Zip Code	21121
Entity Address, City or Town	Daix
Entity Address, Country	FR
Entity Common Stock, Shares Outstanding	52,115,807
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001756594
Auditor Name	KPMG SA
Auditor Firm ID	1253
Auditor Location	Paris La Defense, France
American Depositary Shares, each representing one ordinary share
Document and Entity Information
Title of 12(b) Security	American Depositary Shares, each representing one ordinary share, nominal value €0.01 per share
Trading Symbol	IVA
Security Exchange Name	NASDAQ
Ordinary shares
Document and Entity Information
Title of 12(b) Security	Ordinary shares, nominal value €0.01 per share
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
Business Contact [Member]
Document and Entity Information
Entity Address, Address Line One	50 rue de Dijon
Entity Address, Postal Zip Code	21121
Entity Address, City or Town	Daix
Entity Address, Country	FR
Contact Personnel Name	Frédéric Cren
City Area Code	33
Local Phone Number	3 80 44 75 00

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - EUR (€)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Noncurrent assets
Intangible assets	€ 541,000	€ 568,000	€ 770,000
Property, plant and equipment	9,125,000	7,385,000	3,196,000
Deferred tax assets	225,000
Investments accounted for using the equity method	1,425,000
Other non-current assets	10,055,000	1,668,000	2,442,000
Total non-current assets	21,371,000	9,621,000	6,408,000
Current assets
Inventories	417,000	373,000	392,000
Trade receivables and others	3,807,000	0	4,000,000
Tax receivables	5,352,000	6,007,000	4,373,000
Other current assets	11,696,000	13,267,000	20,260,000
Cash and cash equivalents	26,918,000	86,736,000	86,553,000
Total current assets	48,189,000	106,383,000	115,578,000
Total assets	69,561,000	116,004,000	121,985,000
Shareholders' equity
Share capital	521,158.07	421,000	409,000
Premiums related to share capital	201,862,000	173,886,000	165,072,000
Reserves	(124,584,000)	(74,286,000)	(26,815,000)
Translation reserve	596,000	(271,000)	(164,000)
Net loss for the period	(110,426,000)	(54,274,000)	(49,635,000)
Total Shareholders' equity	(32,032,000)	45,476,000	88,866,000
Noncurrent liabilities
Long-term debt	32,181,000	28,663,000	8,837,000
Long-term debt - derivatives	10,265,000	9,876,000
Royalty certificates liabilities	6,327,000	0	0
Provisions for retirement benefit obligations	1,559,000	1,234,000	1,429,000
Long-term contract liabilities	70,000	55,000
Other non-current liabilities	1,032,000
Total non-current liabilities	51,434,000	39,827,000	10,266,000
Current liabilities
Shortterm debt	5,308,000	5,851,000	1,282,000
Short-term provisions			180,000
Trade payables	37,679,000	19,359,000	14,602,000
Short-term contract liabilities	6,000	6,000
Other current liabilities	7,165,000	5,485,000	6,789,000
Total current liabilities	50,158,000	30,701,000	22,853,000
Total liabilities	101,592,000	70,528,000	33,119,000
Total liabilities and shareholders' equity	€ 69,561,000	€ 116,004,000	€ 121,985,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues and other income
Revenues	€ 17,477	€ 12,179	€ 4,194
Other income	5,686	6,635	4,307
Total revenues and other income	23,163	18,814	8,501
Research and development costs	(110,012)	(60,469)	(48,452)
Marketing - Business development expenses	(1,980)	(2,583)	(364)
General and administrative expenses	(13,837)	(12,912)	(11,155)
Other operating income (expenses)	(44)	40	(644)
Operating profit (loss)	(102,709)	(57,110)	(52,114)
Financial income	1,788	4,923	5,478
Financial expenses	(6,882)	(2,107)	(2,635)
Financial income (loss)	(5,095)	2,816	2,842
Share of net loss - Equity method	(2,015)
Income tax	(607)	20	(364)
Net loss for the period	€ (110,426)	€ (54,274)	€ (49,635)
Basic loss per share	€ (2.43)	€ (1.31)	€ (1.27)
Diluted loss per share	€ (2.43)	€ (1.31)	€ (1.27)
Weighted average number of shares outstanding used to calculate basic loss per share	45,351,799	41,449,732	39,168,152
Weighted average number of shares outstanding used to calculate diluted loss per share	45,351,799	41,449,732	39,168,152

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net loss for the period	€ (110,426)	€ (54,274)	€ (49,635)
Items that will be reclassified subsequently to profit or loss	867	(107)	(164)
Currency translation differences - equity method	34
Currency translation differences	833	(107)	(164)
Items that will not be reclassified subsequently to profit or loss	(97)	425	82
Remeasurement of defined benefit plans	(97)	425	82
Total comprehensive loss	€ (109,657)	€ (53,955)	€ (49,717)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - EUR (€)	Share capital	Premiums related to share capital	Net profit (loss)	Translation reserves	Reserves	Total
Balance at the beginning at Dec. 31, 2020	€ 386,302	€ 139,667,602	€ (33,619,000)		€ 4,777,000	€ 111,211,000
Balance at the beginning (in shares) at Dec. 31, 2020	38,630,261
Net loss for the period			(49,635,000)			(49,635,000)
Remeasurement of defined benefit plans						82,000
Other comprehensive income (loss)				€ (164,000)	82,000	(82,000)
Total comprehensive loss			(49,635,000)	(164,000)	82,000	(49,717,000)
Appropriation of net income (loss)			33,619,000		(33,619,000)
Issue of ordinary shares	€ 22,000	25,404,000				25,426,000
Issue of ordinary shares (in shares)	2,214,190
Vesting of bonus shares (in shares)	29,100
Vesting of bonus shares	€ 0				0
Share-based payment compensation expenses					2,089,000	2,089,000
BSA share warrants subscription premium					49,000	49,000
Treasury shares					(267,000)	(267,000)
Other					75,000	75,000
Balance at the end (in shares) at Dec. 31, 2021	40,873,551
Balance at the end at Dec. 31, 2021	€ 408,735	165,071,565	(49,635,000)	(164,000)	(26,815,000)	88,866,000
Net loss for the period			(54,274,000)			(54,274,000)
Remeasurement of defined benefit plans						425,000
Other comprehensive income (loss)				(107,000)	425,000	318,000
Total comprehensive loss			(54,274,000)	(107,000)	425,000	(53,955,000)
Appropriation of net income (loss)			49,635,000		(49,635,000)
Issue of ordinary shares	€ 13,000	9,354,000				9,366,000
Issue of ordinary shares (in shares)	1,260,618
Transaction costs		(539,000)				(539,000)
Share-based payment compensation expenses					2,218,000	2,218,000
Treasury shares					(479,000)	(479,000)
Balance at the end (in shares) at Dec. 31, 2022	42,134,169
Balance at the end at Dec. 31, 2022	€ 421,341	173,885,665	(54,274,000)	(271,000)	(74,286,000)	45,476,000
Net loss for the period			(110,426,000)			(110,426,000)
Remeasurement of defined benefit plans					(97,000)	(97,000)
Currency translation differences				867,000		867,000
Total comprehensive loss			(110,426,000)	867,000	(97,000)	(109,657,000)
Appropriation of net income (loss)			54,274,000		(54,274,000)
Issue of ordinary shares	€ 96,000	30,491,000				30,587,000
Issue of ordinary shares (in shares)	9,618,638
Transaction costs		(2,511,000)				(2,511,000)
Vesting of bonus shares (in shares)	363,000
Vesting of bonus shares	€ 4,000	(4,000)
Share-based payment compensation expenses					3,969,000	3,969,000
BSA share warrants subscription premium					2,000	2,000
Treasury shares					134,000	134,000
Other					(33,000)	€ (33,000)
Balance at the end (in shares) at Dec. 31, 2023	52,115,807					52,115,807
Balance at the end at Dec. 31, 2023	€ 521,158	€ 201,862,263	€ (110,426,000)	€ 596,000	€ (124,584,000)	€ (32,032,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€) € in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows used in operating activities
Net loss for the period		€ (110,426)	€ (54,274)	€ (49,635)
Elimination of non-cash or non-operating income and expenses
Depreciation, amortization and provisions		2,599	1,698	(1,288)
Deferred and current taxes		524	(84)	32
Tax credits		(5,265)	(5,177)	(3,302)
Cost of debt		5,163	676	87
Sharebased compensation expense		3,969	2,218	2,089
Share of net profit of associates and joint ventures accounted for using the equity method		2,015
Exchange (gains) / losses		297	343	(5,198)
Fair value variation through profit and loss		389	407	651
Other	[1]	(3,406)
Cash flows used in operations before tax, interest and changes in working capital		(104,140)	(54,193)	(56,565)
Decrease / (increase) in operating and other receivables		(5,841)	3,844	(5,317)
Increase / (decrease) in operating and other payables		20,002	3,535	7,599
Decrease / (increase) in inventories		(44)	19	(72)
Tax credit received		5,220	3,553	7,957
Other	[2]	3,190	(1,685)	(1,231)
Tax, interest and changes in operating working capital		22,527	9,266	8,936
Net cash used in operating activities		(81,614)	(44,928)	(47,629)
Cash flows provided by (used in) investing activities
Purchases of property, plant and equipment and intangible assets		(540)	(561)	(534)
Disposals of property, plant and equipment and intangible assets		131	41	89
Decrease / (Increase) in short-term deposit accounts		978	9,388	(1,302)
Decrease / (Increase) in other non-current financial assets		(8,300)	(1)	(47)
Net cash flows provided by (used in) investing activities		(7,731)	8,868	(1,793)
Cash flows provided by (used in) financing activities
Capital increase net of transaction costs	[3]	28,079	8,827	25,475
Issue of royalty certificates		5,100
Subscription of borrowings			30,209
Repayment of debt		(2,485)	(1,033)	(13)
Repayment of lease liabilities		(1,612)	(735)	(15)
Net cash flows provided by financing activities		29,081	37,268	25,447
Net increase (decrease) in cash and cash equivalents		(60,263)	1,208	(23,975)
Cash and cash equivalents at beginning of period		86,736	86,553	105,687
Exchange (gains) / losses		445	(1,025)	4,841
Net cash and cash equivalents at the end of period		€ 26,918	€ 86,736	€ 86,553
[1] Corresponding to the non-cash consideration of the Hepalys License Agreement transaction price recognized in revenue (see Note 19.1 - Revenues ) Including the decrease of prepaid expenses for €4.0 million for the year ended December 31, 2023, and increase of prepaid expenses for €(1.1) million, and €(4.1) million for the years ended December 31, 2022, and December 31, 2021, respectively (see Note 10.2 – Tax receivables and Other current assets ). For the year ended December 31, 2021, including also the decrease in current accrued income offset by the €2 million indemnity received in 2021 from the Abbott group under the Additional Agreement. Including subscriptions to BSA share warrants for €2 thousand, €0 thousand, and €49 thousand for the period ended December 31, 2023, December 31, 2022, and December 31, 2021 respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF CASH FLOWS
Decrease / (increase) of prepaid expenses	€ 4,000	€ (1,100)	€ (4,100)
Indemnification amount received			2,000
Proceeds from exercise of warrants	€ 2	€ 0	€ 49

Company information

Company information	12 Months Ended
	Dec. 31, 2023
Company information
Company information	Note 1. Company information 1.1. Inventiva S.A. is a public limited company registered and domiciled in France. Its head office is located at 50 rue de Dijon, 21121 Daix. The consolidated financial statements of the company Inventiva include Inventiva S.A. and its subsidiary Inventiva Inc., created in January 2021 (the group is designated as “Inventiva” or the “Company”). Inventiva’s ordinary shares have been listed on compartment B of Euronext Paris regulated market since February 2017 and Inventiva’s American Depositary Shares (“ADSs”), each representing one ordinary share, have been listed on the Nasdaq Global Market since July 2020. Inventiva is a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of non-alcoholic steatohepatitis (“NASH”) and other diseases with significant unmet medical need. Leveraging its expertise and experience in the domain of compounds targeting nuclear receptors, transcription factors and epigenetic modulation, Inventiva is currently advancing lanifibranor for the treatment of NASH, as well as a pipeline of earlier stage programs and in oncology discovery. Lanifibranor, its lead product candidate, is being developed for the treatment of patients with NASH, a chronic and progressive liver disease for which there are currently no approved therapies. In 2020, the Company announced positive topline data from its Phase IIb clinical trial evaluating lanifibranor for the treatment of patients with NASH and announced that the U.S. Food and Drug Administration (“FDA”) had granted the Company the status of Breakthrough Therapy and Fast Track designation. The Company initiated the pivotal Phase III trial of lanifibranor in NASH (“NATiV3”) in the second half of 2021 and a Phase IIa combination trial with lanifibranor and empagliflozin in patients with NASH and Type 2 Diabetes (“T2D”) (“LEGEND”). In the first half of 2022, the Company faced delays in its NATiV3 trial that were primarily due to a higher than originally projected screen failure rate resulting in slower than anticipated enrollment rate. In addition, the Company experienced slower than predicted site activation, screening and enrollment due to negative impacts from the COVID-19 pandemic, mainly during the years 2020 and 2021, and the Company was unable to conduct clinical trial activities at sites originally located in Ukraine due to the war and made the decision to close all sites in Russia. Global geopolitical events that continue to impact the markets (including Russia's invasion of Ukraine or the state of war between Israel and Hamas) could affect the Company. In January 2023, the Company amended the protocol for the NATiV3 trial in part to potentially accelerate enrollment and identified additional sites to help compensate for the inability to use sites in Ukraine and Russia. The revised study design limits the planned duration of the trial to 120 weeks instead of up to seven years, reduces the number of biopsies from three to two and included a 48-week active treatment extension study. The Company expects that the changes to the clinical development plan of lanifibranor, including plans for a new Phase III trial in patients with NASH and compensated cirrhosis, will be beneficial to the lanifibranor clinical program by reducing the number of biopsies and the trial duration, eventually offering all patients in the trial access to treatment and potentially expanding the addressable patient population beyond patients with F2 and F3 fibrosis to patients with NASH and compensated cirrhosis. In 2022, the Company entered into a license and collaboration agreement with Chia Tai Tianqing Pharmaceutical Group, Co., LTD (“CTTQ”), a Sino Biopharm group company, to develop and commercialize, subject to regulatory approval, lanifibranor for the treatment of NASH and other metabolic diseases in Mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan (“CTTQ Territory”). In May 2023, the Company announced that CTTQ had received the Investigational New Drug (“IND”) approval from the Chinese National Medicine Products Administration (“NMPA”) allowing CTTQ to initiate the clinical development of lanifibranor in NASH in mainland China. CTTQ is participating in the ongoing NATiV3 Phase III trial and is conducting a Phase I clinical pharmacology study. In December 2023, the Company announced that lanifibranor had been granted “Breakthrough Therapy Designation” by the NMPA and that the first patient had been randomized in China into the global NATiV3 Phase III clinical trial evaluating lanifibranor in patients with NASH. In the framework of its participation in the Company’s NATiV3 Phase III global clinical trials, CTTQ bears all costs associated with these trials conducted in the CTTQ Territory. In July and December 2023, the Company received two milestones payments from CTTQ for an aggregate net proceeds of $4.7 million (equal to €4.3 million at the exchanges rates of the dates of payment) after deducting the withholding tax (see Note 1.2 – Significant events of 2023 On September 20, 2023, the Company and Hepalys Pharma, Inc. (“Hepalys”) announced an exclusive licensing agreement to develop and commercialize lanifibranor in Japan and South Korea (the “Hepalys License Agreement”). Hepalys is a new company created by Catalys Pacific Fund II, LP (“Catalys”). Under the Hepalys License Agreement, the Company received a $10 million upfront payment (equal to €9.5 million) on October 18, 2023, and is eligible to receive up to $231 million in clinical, regulatory and commercial milestone payments in addition to tiered royalties from mid double digits to low twenties based on net sales of lanifibranor in Japan and South Korea. Pending regulatory approvals, Hepalys is expected to initiate Phase I PKPD studies in healthy volunteers in Japan and will be responsible for funding all studies of lanifibranor necessary to file for a new drug application in Japan and South Korea. In parallel with the Hepalys License Agreement, the Company entered into an option agreement with Catalys to acquire 30% of the shares of Hepalys (the “Catalys Option Agreement”). The Company exercised that option on September 26, 2023, with an effective date of October 11, 2023, at an aggregate exercise price of ¥300 (equal to €1.90). Also on September 20, 2023, the Company entered into a shareholders agreement with Catalys and Hepalys (the “Catalys Shareholders Agreement”). Pursuant to the Catalys Shareholders Agreement, the Company has the option to acquire all outstanding shares of Hepalys at a pre-agreed multiple of post-money valuation and the Company has a right of first refusal if Hepalys receives an offer for the license or rights related to lanifibranor. The Hepalys License Agreement, the Catalys Option Agreement and the Catalys Shareholders Agreement are detailed in Note 1.2 – Significant events of 2023 In the first quarter of 2024, following a routine visit during our NATiV3 clinical trial of lanifibranor in NASH, a Suspected Unexpected Serious Adverse Reaction (“SUSAR”) was reported in a patient. As a result of this SUSAR, the Company decided to voluntarily pause screening and randomization to implement changes to the enrollment criteria to exclude patients diagnosed or with a predisposition to autoimmune liver or thyroid disease and more frequent liver monitoring for patients enrolled in the trial as recommended by the Data Monitoring Committee 1 On March 7, 2024, the Company announced that screening activities had resumed in American sites under central IRB. The impact of the pause on the overall timeline of the trial remains unclear, as new exclusion criteria were added, which may increase the screen failure rate, and the SUSAR, new exclusion criteria and increased liver monitoring may discourage potential trial participants. The Company expects the first visit of the last patient to be in the first half of 2024 (versus the first quarter of 2024 as previously announced) and to complete randomization in the third quarter of 2024. The publication of the topline results of the part 1 of the NATiV3 trial is targeted for the first half of 2026. If the results of the trial confirm sufficient clinical benefit and a continued good safety profile, the Company plans to file an application for accelerated approval in the United States and conditional authorization in the European Union for the marketing of lanifibranor. The Company’s pipeline also includes odiparcil for the treatment of patients with mucopolysaccharidosis type VI (“MPS VI”), a group of rare genetic diseases. Based on feedback from the U.S. Food and Drug Administration (“FDA”), the Company believes there is potential for an efficient development pathway for odiparcil for the treatment of MPS VI and it continues to review potential options to further develop odiparcil for the treatment of MPS VI, which may include pursuing or creating a partnership, license or other transaction. 1 A DMC is an independent group of experts who monitor patient safety and treatment efficacy data while a clinical trial is ongoing. 1.2. Significant events of 2023 Business Changes in the clinical development of lanifibranor On January 4, 2023, the Company announced changes to the clinical development of lanifibranor, including plans for a new Phase III trial in patients with NASH and compensated cirrhosis. The Company expects that the changes will be beneficial to the lanifibranor clinical program by reducing the number of biopsies and the trial duration, eventually offering all patients in the trial access to treatment and potentially expanding the addressable patient population beyond patients with F2 and F3 fibrosis to patients with NASH and compensated cirrhosis. On July 27, 2023, the Company announced the improved patient enrollment rate for its pivotal NATiV3 Phase III trial of lanifibranor in non-cirrhotic NASH. The previously announced revised study design limits the duration of the trial to 120 weeks instead of up to 7 years, reduces the number of biopsies from three to two, includes a 48-week active treatment extension study, and has been approved in all 24 countries. Service contract with Avant Santé On February 21, 2023, the Company entered into a study service agreement with Avant Santé, a contract research organization (“CRO”) based in Mexico, in connection with the NATiV3 clinical trial. Pursuant to the terms of the agreement, the CRO was to randomize 120 patients in 10 clinical sites in Mexico by December 31, 2023. However, this randomization has been delayed. The Company estimates that it will pay Avant Santé a total amount up to €14.7 million over the period from February 22, 2023, the effective date of the contract, until the second half of 2027. As of December 31, 2023, the Company paid €2.8 million over this contract. CTTQ On May 22, 2023, CTTQ received Investigational New Drug (“IND”) approval from the NMPA to initiate the clinical development in mainland China of lanifibranor in NASH. CTTQ decided to participate in the ongoing NATiV3 Phase III trial which, if positive, is expected to support a potential filing of a new drug application in China. In parallel, CTTQ will conduct a Phase I clinical pharmacology study. The Company invoiced CTTQ for $2.1 million on May 22, 2023 ($2 million for the milestone of obtaining IND approval from the NMPA and an additional billing of $0.1 million). On July 19, 2023, the Company received $1.9 million after deducting the withholding tax of $0.2 million 1 On December 20, 2023, the Company announced the randomization by CTTQ of the first patient in China in the NATiV3 clinical trial. The Company invoiced CTTQ for $3.2 million on December 12, 2023 (the total invoice corresponds to the milestone payment of $3 million following the randomization of the first patient in China, and an additional billing of $0.2 million). On December 29, 2023, the Company received $2.8 million after deducting the withholding tax of $0.3 million 2 These were the two short-term milestones payments under the license and collaboration agreement with CTTQ. Following the receipt, the Company had met all financial and operational conditions precedent to draw the €25 million Tranche B under the Finance Contract (see Note 29. – Events after the reporting date The Company draws down Tranche B of €25 million under Finance Contract with the EIB In addition, lanifibranor was granted Breakthrough Therapy Designation for NASH by the NMPA. Lanifibranor is believed to be the first drug candidate to receive such designation from both the FDA and the NMPA. Results of Phase II clinical trial evaluating lanifibranor in patients with T2D and nonalcoholic fatty liver disease (“NAFLD”) On June 13, 2023, the Company announced positive topline results from the investigator-initiated Phase II clinical trial evaluating lanifibranor in patients with T2D and NAFLD. The study achieved the primary efficacy endpoint demonstrating a 44% reduction of hepatic fat measured by proton magnetic resonance spectroscopy (1H-MRS) following 24 weeks of treatment in patients with NAFLD. The study also demonstrated that a significantly higher proportion of patients achieved a greater than 30% liver triglyceride reduction as well as NAFLD resolution with lanifibranor compared to placebo. In addition, the study demonstrated a significant effect on a series of secondary endpoints and amelioration of the adipose tissue dysfunction with a robust increase in plasma adiponectin. The treatment with lanifibranor 800mg/once daily for 24 weeks was well tolerated, with no safety concerns reported. 1. 2. ​ Amendment to the CRO Contract with Pharmaceutical Research Associates Group B.V. On June 26, 2023, in connection with the NATiV3 Phase III trial in NASH, the Company entered into a new amendment to the April 2021 agreement with retroactive effect in January 2021 with Pharmaceutical Research Associates Group B.V. (“PRA”) (see Note 26. – Commitments related to operational activities As of December 31, 2023, the total amount still to be paid under the LEGEND and NATiV3 PRA agreements amounts to €163.3 million. (See Note 1.3 – Significant events of 2022 and 2021 Other income Commitments related to operational activities Capital increase and issuance of royalty certificates On August 31, 2023, the Company announced a financing of €35.7 million, in gross proceeds, consisting of two transactions: (i) a capital increase reserved to specified categories of investors through the issuance of 9,618,638 newly-issued ordinary shares with a nominal value of €0.01 per share, at a subscription price of €3.18 per share and aggregate gross proceeds of €30.6 million (€28.0 million in net proceeds, and €2.5 million of transactions costs) (the “August 2023 Share Issuance”) and (ii) the issuance of royalty certificates (the “Royalty Certificates”) for an aggregate amount of €5.1 million. The price of the new shares was €3.18 and represents a discount of 0.22% to the volume-weighted average price of the Company's shares during the trading session preceding the decision to issue the new shares. Settlement and delivery of the new shares took place on September 5, 2023. The Royalty Certificates were issued pursuant to a decision by the Board of Directors on August 30, 2023, in accordance with the provisions of article L. 228-36-A of the French Commercial Code, to certain investors who participated in the capital increase. The certificates grant holders the right to receive annual royalties equal to 2% of future net sales of lanifibranor, if any, capped at €92.1 million, beginning in the fiscal year following the start of the sales of lanifibranor following the granting of the market authorization ( Autorisation de mise sur le marché ) for lanifibranor in (i) the United States or (ii) the countries of the European Union or (iii) the United Kingdom, whichever occurs first, if at all. These certificates do not provide additional financial rights beyond royalties and do not apply to products other than lanifibranor. They have a 15-year The Company intends to use the proceeds primarily to fund part of the NATiV3 Phase III clinical trial of lanifibranor in NASH. The accounting treatment is described in Note 3.8 – Royalty Certificates liabilities Licensing agreement with Hepalys On September 20, 2023, the Company and Hepalys announced that they had entered into the Hepalys License Agreement. Hepalys is a new company created by Catalys, incorporated in Japan. In parallel, the Company entered into the Catalys Option Agreement to acquire 30% of the shares of Hepalys. On September 26, 2023, the Company exercised its option with an effective date on October 11, 2023 (see Note 6. – Investments accounted for using the equity method In addition, on September 20, 2023, the Company, Catalys and Hepalys entered into the Catalys Shareholders Agreement, pursuant to which the Company has the option to acquire the outstanding shares of Hepalys at a pre-agreed multiple of post-money valuation under certain conditions and has a right of first refusal if Hepalys receives an offer for the license and rights related to lanifibranor. Hepalys is expected to start the clinical development of lanifibranor by conducting two Phase I studies in Japanese patients and healthy volunteers. It is anticipated that these studies would support, if positive, the initiation of a dedicated pivotal trial in Japanese and Korean patients with NASH, which is planned to start once the results of NATiV3, the ongoing pivotal Phase III trial currently being conducted by the Company, are available. Hepalys will be responsible for conducting and financing all development trials in Japan and South Korea needed to file for a new drug application in these territories. The Hepalys License Agreement is expected to accelerate the time to market of lanifibranor in Japan and South Korea if regulatory approvals are obtained. According to external publications, both countries are major markets, with up to 2.7% and up to 5.2% of Japanese and South Koreans, respectively, suffering from NASH, including about 15% of South Korean patients with significant fibrosis. Under the terms of the Hepalys License Agreement, the Company (i) received a $10 million upfront payment from Hepalys on October 18, 2023 (corresponding to €9.5 million at the exchange rate as of the payment date) (see Note 19.1 – Revenues Use of estimates and judgment In November 2023, the Company completed the transfer of know-how to Hepalys pursuant to the Hepalys License Agreement, and the Company consequently recognized revenue for an amount of €12.7 million in accordance with IFRS 15. The amount of €12.7 million is composed of the upfront payment ($10 million or €9.3 million at the exchange rate at the billing date) and the fair value ($3.6 million or €3.4 million) of the shares of Hepalys acquired under the Catalys Option Agreement (see Note 1.2 – Significant events of 2023 Accounting principles Revenues Acquisition of 1,500,000 ordinary shares of Hepalys On September 26, 2023, pursuant to the terms of the Catalys Option Agreement, the Company exercised its option to buy 30% (1,500,000 ordinary shares) of Hepalys at an aggregate exercise price of ¥300 (equal to €1.90). Following the receipt of the exercise notice, Hepalys’s Board of Directors authorized the transfer of the 1,500,000 ordinary shares from Catalys to the Company on October 11, 2023.Concurrently, on September 29, 2023, Hepalys’s shareholders agreed to a capital increase of $13 million, in which the Company did not take part, resulting in a dilution of the Company’s ownership down to 15%. As of December 31, 2023, the Company owns 15% of the shares of Hepalys. The Company analyzed its ownership of Hepalys and concluded that, as of December 31, 2023, it has a significant influence but not control or joint control of Hepalys. The significant influence is reflected through the ownership of percentage of interests held, the percentage of potential voting rights owned by the Company including the option, under the Catalys Shareholders Agreement, to acquire all outstanding shares of Hepalys at a pre-agreed multiple of post-money valuation that was exercisable as at December 31, 2023, as well as the active participation in the business of Hepalys in the framework of the Hepalys License Agreement. The investment in Hepalys is accounted for using the equity method of accounting as of December 31, 2023 (see Note 2.2 – Scope and method of consolidation Investments accounted for using the equity method At-The-Market program in the United States On September 28, 2023, the Company announced the termination of the Jefferies ATM (See Note 1.3 – Significant events of 2022 and 2021 The Company currently intends to use the net proceeds, if any, of sales of ADSs issued under the Cowen ATM program to fund the research and development of its product candidates, and for working capital and general corporate purposes. The new ordinary shares will be admitted to trading on the regulated market of Euronext in Paris and the issued ADSs will trade on the Nasdaq Global Market. The Phase II study led by Dr. Kenneth Cusi evaluating lanifibranor in patients with T2D and MASLD was selected as late breaker On November 6, 2023, the Company announced a late breaker abstract that presents results from the investigator-initiated Phase II clinical trial evaluating lanifibranor in patients with T2D and NAFLD sponsored by Dr. Cusi at the University of Florida. Share-based payments On May 25, 2023, the Board of Directors granted the following incentive awards: - 10,000 - 300,000 bonus shares awards (“AGA 2023-1”) to Pierre Broqua, Deputy Chief Executive Officer and director of the Company; - 300,000 free performance units (2023 long-term incentive plan in performance units or “PAGUP 2023”) to Frédéric Cren, as Chief Executive Officer and chairman of the Board of Directors of the Company. On December 15, 2023, the Board of Directors decided to grant the following incentives: - 760,000 bonus shares awards (“AGA 2023-2”) to employees; - 20,000 share warrants (“BSA 2023-2”) to David Nikodem, a member of Sapidus Consulting Group LLC, service provider of the Company, with a subscription price of €0.31 and an exercise price of €3.91 . The plans are described in Note 12. – Shareholders’ equity 1.3. Business Amendments to the CRO agreement with Pharmaceutical Research Associates Group B.V. – NATiV3 and LEGEND studies In April 2021, Company entered into an agreement with PRA, as CRO, in connection with the NATiV3 clinical trial in NASH, with retroactive effect in January 2021. The contract aims to support the regulatory approval of the product in adult patients in Europe and in the United States. Effective January 14, 2022, in connection with the LEGEND Phase IIa clinical trial, the Company entered into an agreement with PRA, a CRO. Under the terms of the agreement, PRA is to support a clinical trial to evaluate benefit for patients of the combination of lanifibranor with empagliflozin, an SGLT2 inhibitor, in patients with T2D and non-cirrhotic NASH. On February 1, 2022, the Company amended its April 2021 agreement with PRA related to the NATiV3 clinical trial to include a bonus and malus mechanism. Depending on whether PRA reaches four milestones in the NATiV3 clinical trial before or after certain dates, PRA will receive a bonus or pay the Company a malus. On April 12, 2022, and on November 10, 2022, the Company further amended its agreement with PRA related to the NATiV3 clinical trial to extend the timelines, with respect to the milestones, and to revise the country/site distribution of the trial. The Company is obligated to pay PRA up to an aggregate of €223.8 million, over the next seven years, under this NATiV3 PRA agreement. (See Note 3.13 – Other income Commitments related to operational activities AbbVie discontinues development of cedirogant On May 5, 2021, following the encouraging results from the Phase Ib clinical study, AbbVie announced the launch of Phase IIb development of the cedirogant clinical study in the second half of 2021. In accordance with the terms of the collaboration agreement between the Company and AbbVie, the initiation of Phase IIb generated a €4.0 milestone payment to the Company that was recognized as revenue in the second half of 2021 and received in January 2022. The Company previously had a strategic collaboration with AbbVie in the area of autoimmune diseases. On October 28, 2022, AbbVie announced that they decided to stop the development of cedirogant (formerly ABBV-157). The Company’s and AbbVie’s joint efforts led to the discovery of cedirogant, which was being evaluated by AbbVie in a Phase II clinical trial for the treatment of moderate to severe psoriasis at the time of AbbVie’s decision to discontinue further clinical development and the partnership. Phase III NATiV3 clinical trial On September 8, 2021, the Company announced the initiation of its NATiV3 Phase III clinical trial evaluating lanifibranor for the treatment of NASH. Investigational New Drug application accepted by the FDA for the Phase II clinical trial combining lanifibranor and empagliflozin in patients with NASH and type 2 diabetes On March 8, 2022, the Company announced that the FDA has completed the safety assessment of the Investigational New Drug (“IND”) application and concluded that the proof-of-concept LEGEND Phase IIa clinical trial combining its lead drug candidate lanifibranor with empagliflozin, an SGLT2 inhibitor, in patients with T2D and non-cirrhotic NASH could proceed. ​ The LEGEND Phase IIa clinical trial was a multicenter, randomized, placebo-controlled trial and aimed to evaluate the safety and efficacy of lanifibranor in combination with empagliflozin, an SGLT2 inhibitor, for the treatment of patients with non-cirrhotic NASH and T2D. The clinical trial was conducted double-blind for the “placebo” and “lanifibranor” arms and open label for the arm combining lanifibranor and empagliflozin. A total of 63 patients with non-cirrhotic NASH and T2D were recruited in the LEGEND clinical trial. The diagnosis of non-cirrhotic NASH was based on historic histological evaluation or a combination of non-invasive methods including imaging. The primary efficacy endpoint of the clinical trial was the absolute change in hemoglobin A1c (HbA1c) at the end of 24 Service Agreement with Summit Clinical Research LLC (“Summit”) In February 2022, the Company entered into a service agreement with Summit in connection with the NATiV3 trial. Under the terms of the agreement, Summit is to provide services to support recruitment and commitment of volunteers for the NATiV3 clinical trial. The Company agreed to pay Summit a minimum aggregate amount of $4.4 million for the services rendered by Summit from the effective date of the agreement to March 2029. If the Company requests Summit to extend the services rendered, this amount may increase by approximately $1.6 million. Development of odiparcil In August 2022, the Company received feedback from the FDA indicating that odiparcil can be administered to pediatric patients with MPS VI and that the single Phase II/III study design presented by the Company could potentially support a future marketing application for odiparcil. Although the Company does not currently plan to pursue the development of odiparcil on its own, the Company continues to evaluate possible options to pursue the development of odiparcil for the treatment of MPS VI, which could include entering into a partnership. License and collaboration agreement with CTTQ On September 21, 2022, the Company entered into a license and collaboration agreement with CTTQ to develop, import, manufacture, commercialize and market lanifibranor, subject to regulatory approval, for the treatment of NASH and potentially other metabolic diseases, in the CTTQ Territory. The Company invoiced CTTQ for $12.6 million on September 28, 2022 (the total invoice corresponds to the initial payment of $12 million, and an additional billing of $0.6 million). On November 4, 2022, the Company received $11.4 million after deducting the withholding tax of $1.3 million 3 In addition, subject to regulatory approval of lanifibranor, the Company has the right to receive tiered royalties ranging from high single-digit to mid-teen double digits of net sales by CTTQ in the CTTQ Territory during the first three years of commercialization and from low to mid-teen double digits starting from year four. Following the receipt of IND approval from the NMPA in May 2023, CTTQ decided to join our ongoing NATiV3 Phase III clinical trial with lanifibranor for the treatment of adult patients with NASH and has initiated a Phase I clinical pharmacology study in parallel. CTTQ randomized the first patient in China in the NATiV3 trial in December 2023.CTTQ will bear all costs associated with the trials conducted in the CTTQ Territory. The accounting treatment and accounting impacts as of December 31, 2023 are described in Note 3.12 – Revenue Use of estimates and judgment Revenues and other income New patent extending intellectual property protection for lanifibranor in the United States On November 28, 2022, the Company announced that it secured a new patent expanding the intellectual property protection of its lead product candidate lanifibranor in the United States. This new patent further strengthens the Company’s patent portfolio for lanifibranor, which already has patents protecting the use of lanifibranor to treat non-alcoholic steatohepatitis and fibrotic diseases. This patent further expands the intellectual property protection of lanifibranor in the United States for use in patients with cirrhotic NASH. Tax dispute Tax audit on payroll tax for years 2016 and 2017 On January 6, 2021, following the positive response of the tax authorities to the request for deferral of payment concerning the payroll tax for the years 2016 and 2017, the Company provided a guarantee, in the form of a bank guarantee from Crédit Agricole, in the amount of €1.0 million (see Note 14. – Provisions Trade payables and short-term contract liabilities By letter dated November 26, 2021, the French tax authorities rejected the Company’s claim for a total amount of €1.2 million (including surcharge and late payment interest) and discussions for a global settlement with the French tax authorities were ongoing as of December 31, 2021, with no impact on the Company’s accounts as of December 31, 2021. 3 ​ Tax audit on payroll tax for years 2013 to 2015 On January 25, 2021, the administrative court of Dijon rejected the Company’s contest claim against the tax authorities regarding the claim filed in October 2018 and its introductory request of September 2019. Abbott and the Company did not wish to contest this decision. On February 11, 2021, the Company received formal notice to pay the amounts due to the French tax authorities under the notice of assessment issued on August 17, 2018 for an amount of €1.9 million. On March 9, 2021, the Company received the payment from Abbott for an amount of €2.0 million corresponding to the maximum amount covered by compensation under the Additional Agreement (see Note 10.2 – Tax receivables and Other current assets On June 9, 2021, in accordance with the French tax authorities, the Company paid €1.8 million, corresponding to the amounts due and late payment interest, including €1.3 million by offsetting sales tax (“VAT”) credit receivables (see Note 16.2 – Other current liabilities Trade payables and short-term contract liabilities Following this payment, the Company obtained in August 2021 the partial release of the bank guarantee set up in 2019 and 2020, for a total amount of €1.6 million corresponding to the portion relating to the payroll tax. Consequently, Credit Agricole agreed to release the pledge on short-term deposit for €1.0 million (see Note 17. – Trade payables and short-term contract liabilities Tax audit on research tax credit for years 2013 to 2015 On November 26, 2021, in accordance with the clearance granted by the mediator in January 2021, the tax authorities partially accepted the Company’s claim relating to the research tax credit for the years 2013 to 2015 and granted €0.3 million corresponding to the portion of the dispute relating to subcontracting, given that the subcontracting operations carried out by the Company was compliant with the conditions set out by the decision of French supreme court for administrative law (“ Conseil d’Etat In addition, the Company filed corrective CIR forms for the years 2013, 2014 a

Basis of preparation and statem

Basis of preparation and statement of compliance	12 Months Ended
	Dec. 31, 2023
Basis of preparation and statement of compliance
Basis of preparation and statement of compliance	Note 2. Basis of preparation and statement of compliance 2.1. The Company has prepared these consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the European Union and IFRS ® These consolidated financial statements as of December 31, 2023 and for the twelve months ended December 31, 2023, 2022 and 2021 were authorized for issue by the Company’s Board of Directors on March 25, 2024. Standards, amendments to existing standards and interpretations published by the IASB whose application has been mandatory since January 1, 2023 The application of standards, amendments to existing standards and interpretations whose application has been mandatory since January 1, 2023 primarily concern: - Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2; - Definition of Accounting Estimates – Amendments to IAS 8; - Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12; and - International tax reform – Amendment to IAS 12. Those amendments had no material impact on the Company’s consolidated financial statements for the year ended December 31, 2023. Standards, amendments to existing standards and interpretations published by the IASB whose application is not yet mandatory No standards, amendments to existing standards or interpretations that may have material impact on the Company's financial statements had been published but were not yet applicable as of December 31, 2023. ​ 2. 2. Scope and method of consolidation ● Accounting policy In accordance with IFRS 10 Consolidated Financial Statements Subsidiaries are all entities over which the Company has control. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and could affect those returns through its power to direct the activities of the entity. Subsidiaries are consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date the control ceases. All intercompany transactions, balances, and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries are consistent with the policies adopted by the Company. ● Consolidated entities As of December 31, 2023, the scope of consolidation consists of two entities, the parent, Inventiva S.A. and its 100% owned subsidiary, Inventiva Inc., for which no non-controlling interest is recognized. ​ ​ ​ ​ ​ ​ ​ ​ ​ Percent of ​ ​ ​ Date of ​ Ownership ​ ​ ​ ​ incorporation ​ Interest ​ Accounting Method INVENTIVA Inc. 01/05/2021 100 % Fully Consolidated ​ ​ The table below shows the contribution of the consolidated entities as of December 31, 2023, 2022 and 2021 in the consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Consolidation Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (107,231) (197) (2,999) (110,426) Total assets 70,304 13,301 (14,045) 69,561 Shareholders’ equity (30,777) 876 (2,130) (32,032) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Consolidation ​ Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (55,173) 691 208 (54,274) Total assets 112,289 8,676 (4,962) 116,004 Shareholders’ equity 44,369 1,111 (5) 45,476 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Consolidation ​ Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (50,113) 382 96 (49,635) Total assets 121,768 4,232 (4,015) 121,985 Shareholders’ equity 88,552 404 (90) 88,866 ● Interests in associates and joint ventures Hepalys is incorporated and has its principal place of business in Japan. The Company’s proportion of ownership interest is 15% and is the same as the proportion of voting rights held. In accordance with IAS 28 Investments in Associates and Joint Ventures Investments accounted for using the equity method 2.3 ● Functional and presentation currency The Company’s consolidated financial statements are presented in euros, which is also its functional currency. The functional currency of Inventiva Inc. is the U.S. dollar. All amounts presented in these notes to the consolidated financial statements are denominated in euros unless otherwise stated. ● Translation of financial statements into presentation currency The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into euros, the presentation currency, as follows: ● Assets and liabilities for each balance sheet presented are translated at the closing rate on the date of that balance sheet, ● Income and expenses for each statement of (income) loss and statement of comprehensive (income) loss are translated at average exchange rates (which is an approximate value of the exchange rate on the transaction date in the absence of significant fluctuations. Income and expenses are translated at the transaction dates if the exchange rates fluctuate significantly), and ● All resulting exchange differences are recognized in other comprehensive income. ​ ​ ​ ​ ​ ​ ​ ​ Exchange rate (USD per EUR) As of December 31, 2023 ​ As of December 31, 2022 As of December 31, 2021 Average exchange rate for the period 1.0813 ​ 1.0530 ​ 1.1827 Exchange rate at period end 1.1050 ​ 1.0666 ​ 1.1326 ​

Accounting Principles

Accounting Principles	12 Months Ended
	Dec. 31, 2023
Accounting Principles
Accounting principles	Note 3. Accounting principles The principal accounting policies applied in the preparation of the financial statements are described below. Unless otherwise stated, the same policies have been consistently applied for all periods presented. 3.1. Property, plant, and equipment are recognized at historical cost, less depreciation and impairment losses, if any. Depreciation is calculated based on the estimated useful life of assets using the straight-line method. A complete review of the useful lives of acquired non-current assets is performed on an annual basis. Any material adjustments are reflected prospectively in the depreciation schedule. The principal useful lives applied are as follows: ● Buildings: 20 to 25 years ● Fixtures and fittings: 10 years ● Technical facilities: 6 to 10 years ● Equipment and tooling: 6 to 10 years ● General facilities, miscellaneous fixtures, and fittings: 10 years ● Office equipment: 5 years ● IT equipment: 5 years ● Furniture: 10 years 3.2. Lease contracts Lease contracts are recognized in accordance with the standard IFRS 16 - Leases ● an asset, representing its right to use the leased asset during the lease term (right-of-use asset); ● a liability, representing the value of the outstanding lease payments (lease liability). For each asset, the discount rate used to calculate the lease liability is determined based on the incremental borrowing rate at the date the Company obtains control of the use of leased asset. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. See Note 13.4 – Lease Liabilities Exemptions Rental expenses for short-term and low-value (less than €5,000) leases continue to be recognized in operating expenses in the Company’s statement of income (loss). 3.3. Impairment of non-financial assets IAS 36 — Impairment of Assets 3.4. Derivatives The Company may have to use derivative financial instruments to hedge its exposure to exchange rate risks (Currency forward sales). The Company has not opted for hedge accounting in accordance with IFRS 9. The derivatives used to hedge exchange rate risks are measured at their fair value in the statement of financial position. All changes in fair value of derivative instruments are recognized in the statement of income (loss) and classified in financial income (loss). The fair values of derivatives are estimated based on commonly used valuation models considering data from active markets. On May 16, 2022, the Company entered into a credit facility with EIB. This financial instrument includes two instruments (i) a host contract representing a debt component (the loans) and (ii) EIB Warrants. The two instruments issued (loans and EIB Warrants) on the date of conclusion are economically and intrinsically linked according to the IFRS 9 criteria, thus the transaction is analyzed as a single hybrid instrument on issue in which there is a host contract representing a debt component (the loans) and a derivative (the EIB Warrants). The financial instrument includes different options too: a BSA call option, a prepayment option of the loan and a BSA put option. The prepayment option is not a separate derivative instrument. The EIB Warrants, put option and call option are each classified as derivatives on own equity instruments, because the “fixed-for-fixed” rule under IAS 32, which provides that derivatives will be classified as equity if they can only be settled by delivering a fixed number of shares in exchange for a fixed amount of cash or another financial asset, is not met (non-cash settlement option which may result in exchanging a variable number of shares, for a variable price). The derivatives are recognized at fair value through profit and loss. The fair value is estimated using the Longstaff Schwartz model which takes into account data from active markets and unobservable data (directly and indirectly) (see Note 3.17 – Use of estimates and judgment The put option can only be exercised in the framework and for the purposes of a cashless exercise of the EIB Warrants, and thus cannot be exercised on a standalone basis. The put option comes into effect upon the issuance of EIB Warrants by the Issuer and remains in effect for the lifetime of the EIB Warrants. In addition, the put option is not independently transferable from the EIB Warrants. Thus, the put option is not bifurcated and it is to be considered as part of the valuation of the EIB Warrants. The call option is exercisable by the Company, under very specific circumstances wherein the value of the EIB Warrants increases due to a takeover bid for the Company. The Company believes it is very unlikely that it will take advantage of exercising the call option. Thus, the call option has been valued at zero and does not require bifurcation. The accounting treatment and impact on the 2022 and 2023 financial years is described in Note 13. - Financial debt . 3.5. Cash and cash equivalents include cash on hand and demand deposits, as well as other short-term highly liquid investments with maturities of three months or less, convertible at a known amount, and subject to an insignificant risk of change in value. Short-term bank deposits may be recognized as cash equivalents when they: ● have an original maturity of three months or less, or there are exit options from the short-term bank deposits at any time; ● are readily convertible to a known cash amount; and ● are subject to an insignificant risk of decrease in value. Bank overdrafts are recorded in liabilities in the statement of financial position under short-term debt. 3.6. Since the Company’s inception, the Company put in place compensation plans settled in equity instruments in the form of share warrants awarded to employees ( Bons de souscription de parts de créateur d’entreprise Bons de souscription d’actions Attribution gratuite d’actions Attribution gratuite d'unités de performance In accordance with IFRS 2 — Share-based Payment The values of equity instruments are determined, using option valuation models (in particular, a Black and Scholes model or a Monte-Carlo simulation, depending on whether the plans are subject to market performance condition), on the basis of the value of the underlying equity instrument on the grant date, the volatility, observed on the historical share price of the Company and on a sample of comparable listed companies, and the estimated lifespan associated equity instruments. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet related service and non-market conditions. For share-based payment awards where the payment is based on shares with market conditions at market acquisition, the grant date fair value of the share-based payment is measured to reflect these conditions and there is no adjustment for differences between the expected results and the actual result. Movement, details, and measurement of the fair value of options incorporates the vesting conditions of these plans are described in Note 12.3 - Share warrants plan , Note 12.4 - Bonus share award plans and Note 12.5 – Performance units plans . 3.7. Bank loans are initially recognized at fair value, i.e., the issue proceeds (fair value of the consideration received) net of transaction costs incurred and the fair value at inception date of the derivative instruments of the debt concerned. Borrowings are subsequently measured at amortized cost, calculated using the effective interest rate method. Any difference between initial fair value and repayment value is recognized in the statement of income (loss) over the life of the loan using the effective interest rate method. The effective interest rate is the discount rate at which the present value of all future cash flows (including transaction costs) over the expected life of the loan, or where appropriate, over a shorter period of time, is equal to the loan’s initial carrying amount. The accounting treatment applied to the financing contract entered with the EIB is described in Note 13. – Financial debt 3.8. Royalty Certificates liabilities The royalty certificates are a contractual obligation for the Company to make cash payments to investors amounting to 2% of future lanifibranor net sales under the condition of the occurrence of such sales, which is an event that is not under the control of the Company. Therefore, they meet the definition of financial liabilities. The Company concluded that they do not include embedded derivatives related to the variability of royalties that are based on future net sales which variable is not specific to a party to the contract. In addition, the Company concluded that the early redemption payment clause was an embedded derivative with a fair value considered to be nil. Consequently there is no embedded derivative to be accounted for separately. (see Note 3.17 – Use of estimates and judgment Royalty Certificates are initially measured at fair value (refer to Note 13. – Financial debt Use of estimates and judgment 3.9. Current and deferred tax Tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the tax authorities, using tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The income tax charge for the period comprises current tax due and the deferred tax charge. The tax expense is recognized in the statement of income (loss) unless it relates to items recorded in other comprehensive income and expense or directly in equity, in which case the tax is also recorded in other comprehensive income and expense or directly in equity. Current taxes The current tax expense is calculated based on taxable profit for the period, using tax rates enacted or substantively enacted at the end of the year in the countries where the Company’s subsidiaries operate and generate taxable income. Deferred taxes Deferred taxes are recognized when there are temporary differences between the carrying amount of assets and liabilities in the Company’s financial statements and the corresponding tax basis used to calculate taxable profit. Deferred taxes are not recognized if they arise from the initial recognition of an asset or liability in a transaction other than a business combination which, at the time of the transaction, does not affect either the accounting or the taxable profit (tax loss). Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are not discounted. Deferred tax assets and liabilities are offset when a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes concern the same entity and the same tax authority. Deferred tax assets Deferred tax assets are recognized for all deductible temporary differences, unused tax losses and unused tax credits to the extent that it is probable that the temporary difference will reverse in the foreseeable future and that taxable profit will be available against which the deductible temporary difference, unused tax losses or unused tax credits can be utilized. It includes the research tax credit granted by the U.S. Government granted by the tax authorities to encourage technical and scientific research by U.S. companies (see Note 8 - Deferred tax assets The recoverable amount of deferred tax assets is reviewed at the end of each reporting period and their carrying amount is reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of the deferred tax assets to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized when it becomes probable that future taxable profit will be available to offset the temporary differences. Deferred tax liabilities Deferred tax liabilities are recognized for all taxable temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint arrangements, except when the parent, investor, joint venturer or joint operator is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. 3.10. Provisions for retirement benefit obligations Retirement benefit obligations The Company operates a defined benefit pension plan. Its obligations in respect of the plan are limited to the lump sum payments upon retirements, which are expensed in the period in which the employees provide the corresponding service. The liability recorded in the statement of financial position in respect of defined benefit pension plans and other post-retirement benefits is the present value of the defined benefit obligation at the statement of financial position date. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting estimated future cash outflows, using the interest rate of high-quality corporate bonds of a currency and term consistent with the currency and term of the pension obligation concerned. In determining the present value and the related current service cost and, where applicable, past service cost, the benefit is attributed to periods of service under the plan’s benefit formula. However, if an employee’s service in later years will lead to a materially higher level of benefit than in earlier years, the benefit is attributed on a straight-line basis from: ● the date when service by the employee first leads to benefits under the plan (whether or not the benefits are conditional on further service) until ● the date when further service by the employee will lead to no material amount of further benefits under the plan, other than from further salary increases. Actuarial gains and losses arise from the effect of changes in assumptions and experience adjustments (i.e., differences between the assumptions used and actual data). These actuarial gains and losses are recognized wholly and immediately in other comprehensive income and expense and are not subsequently reclassified to the statement of income (loss). The net expense in respect of defined benefit obligations recognized in the statement of income (loss) for the period corresponds to: ● The service cost for the period (acquisition of additional rights). ● The interest cost. ● The past service cost. ● The impact of any plan settlements, amendments and curtailments. The discounting effect of the obligation is recognized in net financial income and expenses. Termination benefits Termination benefits are payable when a company terminates an employee’s employment contract before the normal retirement age or when an employee accepts compensation as part of a voluntary redundancy. In the case of termination benefits, the event that gives rise to an obligation is the termination of employment. In the case of an offer made to encourage voluntary redundancy, termination benefits are measured based on the number of employees expected to accept the offer. Profit-sharing and bonus plans The Company recognizes a liability and an expense for profit-sharing and bonus plans based on a formula that takes into consideration the Company’s performance. 3.11. Other provisions In accordance with IAS 37 — Provisions, Contingent Liabilities and Contingent Assets Where there are a number of similar obligations, the probability that an outflow will be required in settlement is determined by considering the class of obligations as a whole. Although the likelihood of outflow for any one item may be small, it may well be probable that some outflow of resources will be needed to settle the class of obligations as a whole. If that is the case, a provision is recognized. The provision represents the best estimate of the amount required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, the amount of a provision corresponds to the present value of the expected costs that the Company considers necessary to settle the obligation. The pre-tax discount rate used reflects current market assessments of the time value of money and specific risks related to the liability. The effect of discounting provisions due to the time value of money is recognized in net financial income and expenses. 3.12. Revenue Revenue is recognized in accordance with IFRS 15 — Revenue from Contracts with Customers Under IFRS 15, revenue is recognized when the Company fulfills a performance obligation by providing separate goods or services to a customer, when the customer obtains control of those goods or services. An asset is transferred when the customer obtains control of that asset or service. Under this standard, each contract must be analyzed on a case-by-case basis in order to verify whether it contains performance obligations to customers, and, if applicable, to identify the nature of said obligations in order to appropriately account for the amount that the Company has received or is entitled to receive from customers: - The transfer of the right to use the intellectual property, via a license granted by the Company, as it exists at the time of the transfer, the date of which will determine that of the revenue recognition; - If the license is considered as a right of access to the intellectual property of the Company over the life of the license, the revenue would be recognized over this lifetime; - The supply of products whose revenues would be recognized at the time of transfer of control of the delivered products; - Revenue from variable consideration, such as development or regulatory milestones, and which are recognized when the achievement is highly probable; or - Potential revenue from sales-based or usage-based royalty promised in exchange for a license of intellectual property would not be recognized until the achievement of the milestone or completion of the sale. The accounting treatment of the contracts with customers are detailed in Note 19.1 – Revenues . 3.13. Research tax credit It includes the research tax credit ( crédit d’impôt recherche Only those companies meeting the EU definition of a small or medium-sized entity (“SME”) are eligible for payment in cash of their CIR (to the extent not used to offset corporate taxes payable) in the year following the request for reimbursement. Inventiva meets the EU definition of an SME and therefore should continue to be eligible for prepayment. Inventiva has been eligible for CIR since inception. The CIR is recognized in “Other income” during the reporting period in which the eligible expenditure is incurred as it meets the definition of government grant as defined in IAS 20 Accounting for Government Grants and Disclosure of Government Assistance Other grants The Company could receive subsidies from several public bodies. The subsidies are related to net income and granted to compensate for incurred expenses. They are therefore recognized in net income as other income for the period in which it becomes reasonably certain that they will be received. 3.14. Fair value measurement In the table below, financial instruments are measured at fair value according to a hierarchy comprising three levels of valuation inputs: ● Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. ● Level 2: Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3: Unobservable inputs for the asset or liability. The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss ​ ​ ​ ​ ​ Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt - derivatives ​ — ​ — ​ 10,265 Total liabilities — — 10,265 ​ See Note 13.3 - Derivatives The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ 9,876 Total liabilities — — 9,876 ​ The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits ​ 8,829 ​ — ​ — Total assets 8,829 — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ — Total liabilities — — — ​ 3.15. Presentation currency and functional currency of financial statements The financial statements of the Company have been prepared in euros, which also constitutes the functional currency of the Company. All amounts mentioned in this annex to the financial statements are expressed in euros, unless otherwise indicated. Translation of foreign currency transactions As of December 31, 2023, foreign currency transactions include bank accounts and term deposits in U.S dollars implemented after the initial public offering on the Nasdaq Global Market in July 2020 (“IPO”). Certain purchasing transactions are carried out in foreign currencies for our studies and clinical trials conducted in the United States and to a lesser degree the United Kingdom, Switzerland, Australia, Canada and Sweden. For the year ended December 31, 2023, these expenses in a foreign currency amounted to approximately €46.8 million, or 37% of the operating expenses, to be compared with €15.9 million, or 21% for the year ended December 31, 2022, and €13.5 million, or 21% for the year ended December 31, 2021. These transactions are translated into euros at the exchange rate prevailing at the date of each transaction. Purchasing transactions in foreign currencies are presented in operating income as they relate to the Company’s ordinary activities. Foreign exchange gains and losses relating to short-term investments and bank accounts in U.S. dollars are presented in financial income (loss). 3.16. Segment information The assessment of the entity’s performance and the decisions about resources to be allocated are made by the chief operating decision maker (the CEO), based on the management reporting system of the entity. Only one operating segment arises from the management reporting system: service delivery and clinical stage research, notably into potential therapies in the areas of fibrosis, lysosomal storage disorders and oncology. Thus, the entity’s performance is assessed at the Company level. For the company’s geographical split please refer to tables below: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 770 568 541 USA — — — Intangible assets 770 568 541 France 3,096 6,324 8,402 USA 101 1,062 724 Property, plant and equipment 3,196 7,385 9,125 France 2,442 1,603 9,958 USA — 65 96 Other non-current assets 2,442 1,668 10,055 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 194 125 118 USA 4,000 — — China — 12,054 4,610 Japan — — 12,750 Revenue 4,194 12,179 17,477 ​ 3.17. The preparation of financial statements in accordance with IFRS Accounting Standards requires: ● Management to make judgments when selecting appropriate assumptions for accounting estimates, which consequently involve a certain degree of uncertainty. ● Management to make estimates and apply assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as information presented for the period. The estimates and judgments, which are updated on an ongoing basis, are based on past experience and other factors, in particular assumptions of future events, deemed reasonable in light of circumstances. The conflict in Ukraine and the state of war between Israel and Hamas have not led to any material changes in the estimates or judgements made by management in the preparation of the Company’s consolidated financial statements. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates, by definition, often differ from actual reported values. Estimates and assumptions that could lead to a significant risk of a material adjustment in the carrying amount of assets and liabilities in the subsequent period are analyzed below. Revenue ● Identifying performance obligations - A promised good or service will need to be recognized separately in revenue if it is distinct as defined in IFRS 15. In determining whether the performance obligation is separate, the Company analyses if (i) the good or service is distinct in absolute terms, i.e. it can be useful to the customer, either on its own or in combination with resources that the customer can obtain separately; and if (ii) the good or service is distinct in the context of the contract, i.e. it can be identified separately from the other goods and services in the contract because there is not a high degree of interdependence or integration between this element and the other goods or services promised in the contract. If either of these two conditions is not met, the good or service is not distinct, and the Company must group it with other promised goods or services until it becomes a distinct group of goods or services. In the context of Biotech industry R&D services are generally capable of being distinct if: - The entity sells the services on their own - i.e. without a related license. This indicates that customers can benefit from the services on their own and they are therefore capable of being distinct; or ​ - The customer can benefit from the services together with the license that has already been transferred to the customer. Readily available resources include goods or services that have already been transferred. If the license is transferred at the beginning of the contract, the services will typically be capable of being distinct. In making this determination, the key analysis is whether the R&D services significantly modify or customize the drug compound so that the intellectual property is significantly different at the end of the arrangement as a result of the services. This may be more frequent in early stages of development when the formula is being developed or when the services are developing an existing technology for a significantly different use. ● Allocation of transaction price to performance obligations - A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To determine the proper revenue recognition method, the Company evaluates whether the contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment; some of the Company's contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. ● Non-cash consideration - To determine the transaction price for contracts in which a customer promises consideration in a form other than cash, an entity shall measure the non-cash consideration (or promise of non-cash consideration) at fair value. If an entity cannot reasonably estimate the fair value of the non-cash consideration, the entity shall measure the consideration indirectly by reference to the stand-alone selling price of the goods or services promised to the customer (or class of customer) in exchange for the consideration. The fair value of the non-cash consideration may vary because of the form of the consideration (for example, a change in the price of a share to which an entity is entitled to receive from a customer). ● Variable consideration - Due to the nature of the work required to be performed on many of the Company's performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. It is common for the collaboration and license agreements to contain variable consideration that can increase the transaction price. Variability in the transaction price arises primarily due to milestone payments obtained following the achievement of specific milestones (e.g., scientific results or regulatory or commercial approvals). The Company includes the related amounts in the transaction price when it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The effect of the increase of the transaction price due to milestones payments is recognized as an adjustment to revenue on a cumulative catch-up basis. ● Revenue recognized over time and input method - Some of the Company's performance obligations are satisfied over time as work progresses, thus revenue is recognized over time, using an input measure of progress as it best depicts the transfer of control to the customers. The application of the IFRS 15 on the current contracts with customers is detailed in Note 19.1 - Revenues CIR The amount of the CIR is determined based on the Company's internal and external expenditure in the reporting period. Only eligible research costs may be included when calculating the CIR. Compliance with the eligibility criteria for expenses when calculating the Tax Credit may require some judgment on the part of the Company. Valuation of share warrants and bonus share award plans Fair value measurements of share warrants and bonus share award granted to employees are based on actuarial models which require the Company to factor certain assumptions into its calculations (see Note 12.3 - Share warrants plan Bonus share award plans Measurement of retirement benefit obligations The Company operates a defined benefit pension plan. Its defined benefit plan obligations are measured in accordance with actuarial calculations based on assumptions such as discount rates, the rate of future salary increases, employee turnover, mortality tables and expected increases in medical costs. The assumptions used are generally reviewed and updated annually. The main assumptions used and the methods chosen to determine them are set out in Note 3.10 - Provisions for retirement benefit obligations Derivatives The Company may have to use derivative financial instruments to hedge its exposure to exchange rate risks (Currency forward sales). The Company has not opted for hedge accounting in accordance with IFRS 9. The fair values of these derivatives are estimated on the basis of commonly used valuation models considering data from active markets. The fair value measurement of the EIB Warrants and the put options related to those EIB Warrants is based on the LongStaff Schwartz option valuation model which makes assumptions about complex and subjective variables. These variables include the value of the Company's shares, the expected volatility of the share price over the lifetime of the instrument, and the present and future behavior of holders of those instruments. There is a high inherent risk of subjectivity when using an option valuation model to measure the

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Intangible Assets	Note 4. Intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2021 Increases Decreases December 31, 2021 Library of compounds ​ 2,142 — — 2,142 Software ​ 1,533 53 (10) 1,575 Intangible assets, gross ​ 3,674 53 (10) 3,717 Amortization of library of compounds ​ (1,322) (165) — (1,487) Amortization of software ​ (1,417) (53) 10 (1,460) Amortization ​ (2,739) (217) 10 (2,947) Intangible assets, net ​ 935 (165) (1) 770 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2022 Increases Decreases December 31, 2022 Library of compounds 2,142 — — 2,142 Software 1,575 15 — 1,590 Intangible assets, gross 3,717 15 — 3,732 Amortization of library of compounds (1,487) (165) — (1,651) Amortization of software (1,460) (52) — (1,512) Amortization (2,947) (217) — (3,164) Intangible assets, net 770 (202) — 568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2023 Increases Decreases December 31, 2023 Library of compounds 2,142 — ​ — ​ 2,142 Software 1,590 194 ​ — ​ 1,784 Intangible assets, gross 3,732 194 ​ — ​ 3,926 Amortization of library of compounds (1,651) (165) ​ — ​ (1,816) Amortization of software (1,512) (56) ​ — ​ (1,568) Amortization and impairment (3,164) (221) ​ — ​ (3,384) Intangible assets, net 568 (27) ​ — ​ 541 ​ During the 2023 financial year, software was acquired for €0.2 million. Other changes in intangible assets mainly correspond to depreciation expenses, for €0.2 million for each of the years ended December 31, 2023, December 31, 2022, and December 31, 2021. In the absence of any indication of impairment, no impairment tests have been performed on amortizable intangible assets in the years ended December 31, 2023, 2022 and 2021.

Property, plant, and equipment

Property, plant, and equipment	12 Months Ended
	Dec. 31, 2023
Property, plant, and equipment
Property, plant, and equipment	Note 5. Property, plant, and equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2023 Increases Decreases Others 2023 Land 172 — — — 172 Buildings 3,470 — — — 3,470 Technical facilities, equipment and tooling 5,457 210 (87) 24 5,604 Other property, plant and equipment 1,519 38 (44) 24 1,536 Property, plant and equipment in progress 65 98 — (48) 115 Right of use 5,259 3,731 — (46) 8,943 Property, plant and equipment, gross 15,941 4,076 (131) (46) 19,840 Depreciation and impairment of buildings (2,104) (182) — — (2,286) Depreciation and impairment of technical facilities, equipment and tooling (4,446) (317) 86 — (4,676) Depreciation and impairment of other property, plant and equipment (1,216) (99) 44 — (1,271) Depreciation and impairment of right of use (790) (1,681) 0 (8) (2,480) Depreciation and impairment (8,555) (2,280) 130 (8) (10,714) Property, plant and equipment, net 7,386 1,797 (1) (55) 9,125 ​ In 2023, the gross value of property, plant and equipment increased by €3.9 million mainly due to the recognition of the new right of use related to the Fibroscans lease agreement for €3.7 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) ​ 2022 ​ Increases ​ Decreases ​ Others ​ 2022 Land 172 — — — 172 Buildings 3,407 86 (23) — 3,470 Technical facilities, equipment and tooling 5,118 357 (18) — 5,457 Other property, plant and equipment 1,422 97 — — 1,519 Property, plant and equipment in progress 59 5 — — 65 Right of use ​ 143 ​ 5,109 ​ — ​ 7 ​ 5,259 Property, plant and equipment, gross 10,321 5,655 (41) 7 15,941 Depreciation and impairment of buildings (1,931) (196) 23 — (2,104) Depreciation and impairment of technical facilities, equipment and tooling (4,091) (355) 1 — (4,446) Depreciation and impairment of other property, plant and equipment (1,087) (128) — — (1,216) Depreciation and impairment of right of use (14) (776) — (0) (790) Depreciation and impairment ​ (7,124) ​ (1,455) ​ 24 ​ (0) ​ (8,555) Property, plant and equipment, net 3,196 4,200 (17) 7 7,385 ​ Changes during the period 2022 mainly correspond to the recognition of rights of use assets, notably the Fibroscans equipment leases for €5.1 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2021 Increases Decreases Others 2021 Land ​ 172 — — — 172 Buildings ​ 3,407 — — — 3,407 Technical facilities, equipment and tooling ​ 4,856 336 (75) — 5,118 Other property, plant and equipment ​ 1,203 223 (4) — 1,422 Property, plant and equipment in progress ​ 137 59 — (137) 59 Right of use ​ 34 143 (34) — 143 Property, plant and equipment, gross ​ 9,810 761 (113) (137) 10,321 Depreciation and impairment of buildings ​ (1,737) (194) — — (1,931) Depreciation and impairment of technical facilities, equipment and tooling ​ (3,782) (384) 75 — (4,091) Depreciation and impairment of other property, plant and equipment ​ (976) (116) 4 — (1,087) Depreciation and impairment of right of use ​ (33) (16) 34 — (14) Depreciation and impairment ​ (6,528) (709) 113 (137) (7,124) Property, plant and equipment, net ​ 3,282 52 — (274) 3,196 ​ Changes during the period 2021 mainly correspond to acquisition of technical facilities, equipment, and tools for €0.3 million and acquisition of other property, plant and equipment for €0.2 million, offset by depreciation expenses for €0.7 million. On September 21, 2021, the Company entered into a Fibroscans lease agreement with Echosens to equip the open clinical trial centers for the Phase III clinical study evaluating lanifibranor in NASH patients. In the absence of any indication of impairment, no impairment tests have been performed on amortizable tangible assets and right of use in the years ended December 31, 2021, 2022 and 2023.

Investments accounted for using

Investments accounted for using the equity method	12 Months Ended
	Dec. 31, 2023
Investments accounted for using the equity method
Investments accounted for using the equity method	Note 6. Investments accounted for using the equity method On September 26, 2023, pursuant to the terms of the Catalys Option Agreement, the Company exercised its option to buy 30% (1,500,000 ordinary shares) of Hepalys at an aggregate exercise price of ¥300 (equal to €1.90). Following the receipt of the exercise notice, Hepalys’s Board of Directors authorized the transfer of the 1,500,000 ordinary shares from Catalys to the Company on October 11, 2023. As of October 11, 2023, the acquisition date, the fair value of this option amounts to $3.6 million (€3.4 million), corresponding to the estimated fair value of the ordinary shares acquired when exercising the option. The fair value of the ordinary shares has been estimated based on a backsolve option pricing model taking into account the preferred shares market value issued by Hepalys on September 29, 2023. The parameters of the option pricing model are a volatility of 68%, a risk-free rate of 2%, and a maturity of 8 years. Concurrently, on September 29, 2023, Hepalys’s shareholders agreed to a capital increase of $13 million, in which the Company did not take part, resulting in a dilution of the Company’s ownership down to 15%. As of December 31, 2023, the Company owns 15% of the shares of Hepalys. The Company analyzed its ownership of Hepalys and concluded that, as of December 31, 2023, it has a significant influence but not control or joint control of Hepalys. The significant influence is reflected through the ownership of percentage of interests held, the percentage of potential voting rights owned by the Company including the option, under the Catalys Shareholders Agreement, to acquire all outstanding shares of Hepalys at a pre-agreed multiple of post-money valuation that was exercisable as at December 31, 2023, as well as the active participation in the business of Hepalys in the framework of the Hepalys License Agreement. The investment in Hepalys is accounted for using the equity method of accounting as of December 31, 2023. The tables below provide the summarized statement of financial position of Hepalys. The disclosed information reflects the amounts presented in the financial statements of Hepalys and not the Company's share of those amounts. They have been amended to reflect adjustments made by the Company when using the equity method, in this case fair value adjustments. The tables below provide also the reconciliation between the Hepalys statement of financial position and the carrying amount in the Company statement of financial position. ​ ​ ​ ​ ​ ​ ​ ​ December 31, October 11, (in thousands of euros) ​ 2023 ​ 2023 ​ Intangible assets ​ 20,278 ​ 20,656 Total non-current assets 20,278 20,656 ​ Other current assets 44 13 ​ Cash and cash equivalents 1,082 11,569 ​ Total current assets 1,126 11,582 ​ Deferred assets 41 2 ​ Total assets 21,444 32,240 ​ ​ ​ ​ ​ ​ ​ Capital stock 640 5,877 ​ Capital reserve 22,656 17,176 ​ earnings brought forward (178) (176) ​ Net loss for the period (1,111) (232) ​ Treasury Shares (812) 0 ​ Shareholders’ equity 21,194 22,645 ​ Total non-current liabilities — — ​ Trade payables 237 9,590 ​ Other current liabilities 13 6 ​ Total current liabilities 250 9,596 ​ Total equity and liabilities 21,444 32,240 ​ ​ ​ ​ ​ ​ ​ Opening net assets 22,645 — ​ Loss for the period (879) — ​ Other comprehensive income 247 — ​ Capital variations (819) — ​ Closing net assets 21,194 — ​ ​ ​ ​ ​ ​ ​ Group's share in % 15 % 15 % (in thousands of euros) ​ ​ ​ Group's share 3,267 3,406 ​ Elimination of unrealised profit on downstream sales (1,881) — ​ Goodwill 38 — ​ Carrying amount 1,425 3,406 ​ ​

Other non-current assets

Other non-current assets	12 Months Ended
	Dec. 31, 2023
Other non current assets
Other non-current assets	Note 7. Other non-current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Long‑term deposit accounts ​ 1,745 700 9,000 Advance payments – ​ 689 895 1,047 Accrued income ​ 0 65 0 Security deposits ​ 8 8 8 Other non ‑ current assets ​ 2,442 1,668 10,055 ​ Long-term deposits accounts As of December 31, 2023, long-term deposit accounts with more than a year of maturity increased by €8.3 million, related to: - the entry into a €9.0 million two-year deposit forward contract, accessible prior to the expiration of the term with a notice period of 31 days , in October 2023; and - the change of maturity of a €0.7 million term deposit (a deposit maturing at January 30, 2024 and repaid early in April, 2023). In the fiscal year 2022, deposit accounts whose maturity was shorter than one year from December 31, 2022 had been reclassified as current assets (see Note 10. – Trade receivables, tax receivables and other current assets At December 31, 2021, two pledges over cash, for a total amount of €1.7 million, were in place: - one pledge over cash of €0.7 million was granted by the Company on February 1, 2019, equivalent to 50% of the sum not covered by the indemnity to be received from the Abbott group under the Additional Agreement; and - one pledge over cash of € 1.0 million was granted by the Company on January 6, 2021. Following the request for a deferral of payment on the payroll tax for fiscal years 2016 and 2017, the Company carried out a guarantee to the tax authorities, in the form of a bank guarantee from Crédit Agricole. These pledges were granted as part of the surety provided by the Company to the French tax authorities in connection with its tax disputes, in the form of €1.7 million bank guarantees from Crédit Agricole. During April 2022, two pledges over cash of €1.0 million and €0.7 million were released following the settlement on the payroll tax for fiscal years 2016 and 2017 (see Note 1.3 – Significant events of 2022 and 2021 Advances payments – non-current As of December 31, 2023, non-current advances to suppliers amounted to €1.0 million, corresponding to the advance paid under the CRO contract with PRA, as non - current advances to suppliers as of December 31, 2022 and December 31, 2021 (see Note 26. – Commitments related to operational activities

Deferred tax assets

Deferred tax assets	12 Months Ended
	Dec. 31, 2023
Deferred tax assets.
Deferred tax assets	Note 8. Deferred tax assets ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Tax credits — — 225 Deferred tax assets — — 225 ​ Inventiva S.A. and Inventiva Inc. are taxed as two separate entities and cannot apply the tax consolidation. For each entity, the deferred tax assets and deferred tax liabilities is offset in the consolidated financial statements. Deferred tax assets are recognized only when an entity have sufficient evidence that it will have a sufficient taxable benefit available to use the unused tax losses in the foreseeable future. Inventiva S.A. has recorded tax losses for 2023 and every year since 2017. As recovery of these losses in future periods is considered unlikely due to the uncertainty inherent to the Company’s activity, no deferred tax assets were recognized on this basis for the full year ended December 31, 2023 as previous periods. Inventiva Inc. recognized deferred tax assets for an amount €0.2 million of as of December 31, 2023, which relate to U.S. R&D tax credits. Inventiva Inc. is entitled to claim special tax deductions for investments in qualifying expenditure under the Research and Development Tax Incentive regime in the United States. U.S. R&D tax credits can be carried forward for 20 years, are non-refundable unlike the CIR and used to reduce regular tax liability. The Company assessed that the deferred tax assets should be recoverable up to €0.2 million using the estimated future taxable income based on the approved business plans and budgets for the subsidiary on the next three years. Consequently, all other deferred tax assets remain unrecognized. The balance of unrecognized deferred taxes on Inventiva S.A. tax loss carryforwards amounts to €374.6 million (base) at December 31, 2023 and to €261.8 million at December 31, 2022.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventories
Inventories	Note 9. Inventories ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Laboratory inventories ​ 425 406 426 Inventories write‑down ​ (33) (33) (9) Inventories ​ 392 373 417 ​

Trade receivables, tax receivab

Trade receivables, tax receivables and other current assets	12 Months Ended
	Dec. 31, 2023
Trade receivables, tax receivables and other current assets
Trade receivables, tax receivables and other current assets	Note 10. Trade receivables, tax receivables and other current assets 10.1. Trade receivables and others break down as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 3 months or less 4,000 0 ​ 3,807 Between 3 and 6 months — — ​ — Between 6 and 12 months — — ​ — More than 12 months — — ​ — Trade receivables and others 4,000 0 ​ 3,807 ​ The average payment period is 30 days. As of December 31, 2023, trade receivables and others mainly consisted of the reinvoicing to CTTQ of a share of costs incurred as of December 31, 2023 for the Phase I clinical pharmacology study and the ongoing NATiV3 Phase III trial. As of December 31, 2021, the trades receivables consisted exclusively of a receivable from AbbVie following the launch of the Phase IIb trial for the cedirogant program for a total amount of €4.0 million, in accordance with the terms of the collaboration agreement between the Company and AbbVie (see Note 1.3 – Significant events of 2022 and 2021 10.2. Tax receivables and Other current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 CIR and other research tax credits ​ 4,357 ​ 5,994 ​ 5,333 Other 16 ​ 13 19 Tax receivables 4,373 ​ 6,007 ​ 5,352 Prepaid expenses 7,454 ​ 8,601 ​ 4,656 Short-term deposit accounts ​ 8,829 ​ 1,048 ​ 70 Current accrued income ​ 92 ​ 117 ​ 1,047 Liquidity agreement - Cash ​ 762 ​ 282 ​ 422 VAT receivables ​ 2,828 ​ 3,057 ​ 5,066 Other receivables 294 ​ 162 ​ 435 Other current assets 20,260 ​ 13,267 ​ 11,696 Other current assets and receivables 24,632 ​ 19,274 ​ 17,048 ​ French Research Tax Credit (“CIR”) As of December 31, 2023, tax receivables amounted to €5.4 million, mainly relating to the 2023 CIR as of December 31, 2023, in the amount of €5.3 million and remain stable compared to December 31, 2022. As of December 31, 2022, tax receivables were mainly composed of CIR and other research tax credits for an amount of €6.0 million, including €0.8 million for the R&D Tax Research Credit of Inventiva Inc. and €5.2 million for the CIR. As of December 31, 2021, tax receivables were mainly composed of CIR and other research tax credits for an amount of €4.4 million, including €0.2 million for the R&D Tax Research Credit of Inventiva Inc. and €4.2 million for the CIR. As of December 31, 2022, the increase in CIR compared to December 31, 2021, were mainly due to the €12.0 million increase in Research and Development expenses from €48.5 million for the year ended 2021 to €60.5 million for the year ended 2022. This increase mainly related to the end of Phase II and the launch of the Phase III clinical trial evaluating lanifibranor in NASH. As of December 31, 2021, tax receivables mainly corresponded to the research tax credits receivables for 2021 for a total amount of €4.4 million, including €0.2 million of research tax credits for Inventiva Inc. The decrease in tax receivables compared to December 31, 2020, was mainly due to the payment of CIR for 2020 for a total amount of €4.2 million and corrective claims for additional reimbursement of CIR with regards to the years 2016 to 2019 for a total amount of €3.8 million (refer to Notes 1.3, “Significant events of 2022 and 2021”), partially offset by the recording of the 2021 CIR receivable for a total amount of €3.8 million, of which €0.2 million relates to the CIR claim of the subsidiary Inventiva Inc. Prepaid expenses As of December 31, 2023, prepaid expenses decreased by €3.9 million compared to December 31, 2022. They are mainly composed of a reduction in prepaid expenses for the NATiV3 Phase III clinical trial, and to a lesser extent, a reduction in directors' and officers' insurance costs (D&O insurance taken out following the Company's listing on the Nasdaq Global Market in 2020). As of December 31, 2022, the €1.1 million increase in prepaid expenses mainly relates to research costs incurred in the context of CRO contracts with subcontractors, and to a lesser extent, to computer maintenance costs and research equipment, patent annuity costs and insurance contributions. As of December 31, 2021, prepaid expenses mainly related to research costs incurred in connection with CRO contracts with third parties, and to a lesser extent, to computer maintenance research equipment, patent annuity costs and insurance premiums relating to the first quarter of 2022. Short-term deposit accounts As of December 31, 2023, short-term deposit accounts are composed exclusively of accrued interest. The decrease compared to December 31, 2022 of €1.0 million, is mainly due to the end of a deposit for €1.0 million. As of December 31, 2022, short-term deposit accounts decreased by €7.8 million compared to December 31, 2021, mainly due to the maturity of a term deposit subscribed during the year ended 2021 with Société Générale of $10 million (€8.8 million). Current accrued income As of December 31, 2023, the current accrued income correspond to the advance invoiced to CTTQ, (see Note 16.1 – Other non–current liabilities

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents
Cash and cash equivalents	Note 11. Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Other cash equivalents (1) 42,900 ​ 16,798 ​ 17,933 Cash at bank and at hand 43,653 ​ 69,939 ​ 8,985 Cash and cash equivalents 86,553 ​ 86,736 ​ 26,918 ​ As of December 31, 2023, cash and cash equivalents amounted to €26.9 million compared to €86.7 million as of December 31, 2022, a decrease of €59.8 million (69)%, mainly related to the Company’s ongoing research activities, in particular the Phase III trial with lanifibranor for the treatment of NASH and, to a lesser extent, to the LEGEND Phase IIa trial. During the year ended December 2023, IVA received an aggregate amount of €4.3 million in milestone payments from CTTQ after withholding tax of €0.5 million and €9.5 million in upfront fees from Hepalys. On August 31, 2023, the Company announced a €35.7 million financing, in gross proceeds, consisting of two transactions: (i) a capital increase for total gross proceeds of €30.6 million (the “August 2023 Share Issuance”) and (ii) the issuance of royalty certificates (the “Royalty Certificates”) for an aggregate amount of €5.1 million (see Note 1.2 – Significant events of 2023

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2023
Shareholders' equity
Shareholders' equity	Note 12. Shareholders’ equity 12.1. Share capital The share capital is set at €521,158.07 on December 31, 2023 divided into 52,115,807 fully authorized, subscribed and paid-up shares with a nominal value of €0.01. Changes in share capital during the years ended December 31, 2023, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Premiums ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ related to ​ Number of ​ ​ Date Nature of the transactions Share capital share capital shares Nominal value ​ ​ Balance as of 31 December 2020 ​ 386,302 ​ 139,667,602 ​ 38,630,261 ​ 0.01 June 28, 2021 ​ Capital increase by issuance of ordinary shares – Vesting of AGAs by Company employees (AGA 2019-1) ​ 291 ​ — ​ 29,100 ​ 0.01 September 27, 2021 Capital increase by issuance of ordinary shares – (ATM) 20,833 25,556,803 2,083,334 0.01 January 10, 2021 Capital increase by issuance of ordinary shares – (ATM) 1,309 1,615,584 130,856 0.01 January 10, 2021 Transaction costs related to ATM — (1,768,424) — 0.01 ​ Balance as of 31 December 2021 408,735 165,071,565 40,873,551 0.01 June 15, 2022 Capital increase by issue of ordinary shares – (ATM3) 12,606 9,353,504 1,260,618 0.01 June 15, 2022 Transaction costs related to ATM — (539,404) — — ​ Balance as of 31 December 2022 421,341 173,885,665 42,134,169 0.01 August 30, 2023 August 2023 Share Issuance 96,186 30,491,082 9,618,638 0.01 August 30, 2023 Transaction costs related to the capital increase — (2,510,855) — — December 8, 2023 Vesting of bonus shares 3,630 (3,630) 363,000 0.01 Balance as of December 31, 2023 ​ 521,158 201,862,263 52,115,807 0.01 ​ During the year ended December 2023, the main impact on share capital relates to the August 2023 Share Issuance consisting of the issuance of 9,618,638 newly issued ordinary shares with a nominal value of €0.01 per share, at a subscription price of €3.18 per share and aggregate gross proceeds of €30.6 million on August 31, 2023. The transaction costs amounted to €2.5 million. Settlement of the August 2023 Share Issuance occurred on September 5, 2023. This capital increase, for an aggregate net proceeds of €28.0 million, is detailed in Note 1.2 - Significant events of 2023. In December 2023, the bonus share award plan AGA 2022 was vested, increasing the share capital by €3,630. During the years ended December 31, 2022 and 2021, the main impacts on the share capital related to the following events: - Capital increase of €9.4 million (gross amount) on June 15, 2022 due to the issuance of 1,260,618 new shares as part of the Company’s At-The-Market program set up on August 2, 2021. - Capital increase of €25.4 million of cash, consisting of the net proceeds of the two ATM sales on September 27, 2021 and on October 1, 2021; - Final acquisition of 29,100 AGAs 2019-1 on June 28, 2021 ; For more details on the operations of the fiscal year 2022 and 2021, please refer to Note 1.3 - Significant events of 2022 and 2021 Movements related to BSA share warrants plans and AGA bonus shares award plans are described in Note 12.3 - Share warrants plan Bonus share award plans 12.2. Liquidity agreement On January 19, 2018, the Company entered into a liquidity agreement with Kepler Cheuvreux, replacing the previous liquidity agreement with Oddo BHF. This agreement with Kepler Cheuvreux, as amended in 2019, automatically renews for 12-month periods unless terminated by either party. Under the terms of the agreement, the investment services provider (“ISP”) is authorized to buy and sell the Company’s treasury shares without interference from the Company in order to ensure the liquidity of the shares on the Euronext market. The liquidity agreement with Kepler Cheuvreux was extended for a new period of 12 months from January 1, 2023, and has been renewed again for a new period of 12 months from January 1, 2024. On December 31, 2023, 2022 and 2021, treasury shares acquired by the Company through its ISP, as well as the gains or losses resulting from share purchase, sale, issue and cancellation transactions during the years 2023,2022 and 2021, were accounted for as a deduction from equity. Consequently, these transactions had no impact on the Company’s results. 12.3. Share warrants plan Share-based payments correspond to: - BSPCE founder share warrants granted to Company employees in 2013 and 2015; - BSA share warrants granted to Company directors in 2017, with a subscription price set at €0.534 ; - BSA share warrants granted to Company service providers in 2018, with a subscription price set at €0.48 ; - BSA share warrants granted in 2019 to David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of Inventiva, with a subscription price set at € 0.18 ; - BSA share warrants granted in 2020 to David Nikodem, a member of Sapidus Consulting Group LLC, and Jérémy Goldberg, a member of PG Healthcare LLC, both service providers of Inventiva, with a subscription price set at €0.29 ; - BSPCE founder share warrants granted in 2021, to Frederic Cren and Pierre Broqua, Company’s Directors; - BSA share warrants granted in 2021 to David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of Inventiva, with a subscription price set at €2.45 ; - BSA share warrants granted in 2023 to David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of Inventiva, with a subscription price set at €0.20 and an exercise price of €2.51 ; and - BSA share warrants granted in 2023 to David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of Inventiva, with a subscription price set at €0.31 and an exercise price of €3.91 . Characteristics of BSPCE share warrant plans As of January 1, 2023, two BSPCE share warrant plans were outstanding: BSPCE 2013-1 and BSPCE 2021. The main characteristics of BSPCE plans are described in the following table: ​ ​ ​ ​ ​ ​ ​ ​ BSPCE 2013-1 BSPCE 2021 Decision of issuance by the Board of Directors 12/13/2013 ​ 04/16/2021 ​ Grant date 12/13/2013 ​ 04/16/2021 ​ Beneficiary 3 employees ​ Executive Directors ​ Number of BSPCE granted 9,027 ​ 600,000 ​ Expiration date 12/13/2023 ​ 03/31/2034 ​ Number of shares per BSPCE 100 ​ 1 ​ Subscription price (€) ​ 58.50 ​ 0 ​ Exercise price (€) ​ 0.585 ​ 11.74 ​ Performance condition ​ No ​ Partially (1) ​ Valuation method used ​ Black and Scholes ​ Monte Carlo ​ Fair value at grant date (€) ​ 19 ​ [5.4 – 5.7] (1) ​ Expected volatility ​ 35 % 64 % Average life (years) ​ 5 ​ 5 ​ Risk-free rate ​ 1.13 % 0.60 % Expected dividends — ​ — ​ (1) The fair value at grant date is different depending on whether the BSPCEs are subject to market performance conditions. The BSPCE 2013-1 plan expired on December 13, 2023. All the outstanding BSPCEs 2013-1 at January 1, 2023 were forfeited. Characteristics of BSA share warrant plans As of December 31, 2023, eight BSA share warrant plans were outstanding compared to December 31, 2022, which six BSA share warrant plans were outstanding: BSA 2017, BSA 2018, BSA 2019, BSA 2019 bis, BSA 2019 ter, BSA 2021, BSA 2023 and BSA 2023–2. ​ The main characteristics of BSA plans are described in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BSA ​ ​ ​ BSA ​ ​ ​ ​ ​ ​ ​ ​ BSA 2017 2018-1 BSA 2019 2019 Bis BSA 2019 ter BSA 2021 BSA 2023 ​ BSA 2023-2 Decision of issuance by the Board of Directors ​ 05/29/2017 ​ 12/14/2018 06/28/2019 03/09/2020 03/09/2020 ​ 04/16/2021 ​ 05/25/2023 ​ 12/15/2023 Grant date ​ 05/29/2017 ​ 12/14/2018 06/28/2019 03/09/2020 03/09/2020 ​ 04/16/2021 ​ 05/25/2023 ​ 12/15/2023 Beneficiary ​ Directors ​ Service providers Service providers Service providers Service providers ​ Service providers ​ Service providers ​ Service providers Vesting period (year) ​ 3 tranches: 1 year , 2 years and 3 years ​ between 1 and 3 years 1 1 between 1 and 3 years ​ 3 ​ 2.9 years ​ 2.3 years Expiration date ​ 05/29/2027 ​ 12/14/2028 06/28/2029 03/09/2030 03/09/2030 ​ 03/31/2034 ​ 03/31/2036 ​ 03/31/2036 Number of BSA granted ​ 195,000 ​ 126,000 10,000 10,000 36,000 ​ 50,000 ​ 10,000 ​ 20,000 Number of shares per BSA ​ 1 ​ 1 1 1 1 ​ 1 ​ 1 ​ 1 Subscription premium price per share (€) ​ 0.534 ​ 0.48 0.18 0.29 0.29 ​ 2.45 ​ 0.20 ​ 0.31 Exercise price per share (€) ​ 6.675 ​ 6.067 2.20 3.68 3.68 ​ 11.74 ​ 2.51 ​ 3.91 Performance condition ​ No ​ No No No No ​ Yes ​ No ​ No Valuation method ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Monte Carlo ​ Black and Scholes ​ Black and Scholes Fair value per BSA at grant date (€) ​ 2.47 ​ 1.98 ​ 0.48 ​ 0.90 ​ 0.90 ​ [ 3.0 – 3.2 ] (1) ​ 1.89 ​ 2.67 Expected volatility ​ 40 % 40 % 40 % 40 % 40 % 64 % 65% ​ 62% Average life (years) ​ 6 ​ 6 ​ 5.5 ​ 6 ​ 6 ​ 5 ​ 6.5 ​ 6.2 Risk free rate ​ 0.22 % 0.30 % 0.33 % 0.0 % 0.0 % 0.60 % 2.96% ​ 2.65% Expected dividends ​ — ​ — — — — ​ — ​ — ​ — (1) The fair value at grant date is different depending on whether the BSAs are subject to market performance conditions. On May 25, 2023, the Company granted David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of the Company, 10,000 BSAs under the new BSA 2023-1 share warrants. The BSAs under this plan have a subscription price set at €0.20 and an exercise price of €2.51. On December 15, 2023, the Company granted David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of the Company, 20,000 BSAs under the new BSA 2023-2 share warrants. The BSAs under this plan have a subscription price set at €0.31 and an exercise price of €3.91. Movements in BSPCE share warrants and BSA share warrants (in number of shares issuable upon exercise) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, ​ exercisable Type Grant Date (in euros) 2023 Issued Exercised Lapsed 2023 shares BSPCE - Plan 2013 12/13/2013 0.59 8,800 — — (8,800) — — BSPCE - Plan 2021 ​ 04/16/2021 ​ 11.74 ​ 480,000 ​ — ​ — ​ (50,000) ​ 430,000 ​ 430,000 TOTAL BSPCE share warrants 488,800 — — (58,800) 430,000 430,000 BSA - Plan 2017 05/29/2017 6.67 130,000 — — — 130,000 130,000 BSA - Plan 2018 12/14/2018 6.07 116,000 — — — 116,000 116,000 BSA 2019 06/28/2019 2.20 10,000 — — — 10,000 10,000 BSA 2019 bis ​ 03/09/2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 ter ​ 03/09/2020 ​ 3.68 ​ 36,000 ​ — ​ — ​ — ​ 36,000 ​ 36,000 BSA 2021 ​ 04/16/2021 ​ 11.74 ​ 16,000 ​ — ​ — ​ (1,667) ​ 14,333 ​ — BSA 2023 ​ 05/25/2023 ​ 2.51 ​ — ​ 10,000 ​ — ​ — ​ 10,000 ​ — BSA 2023 - 2 ​ 12/15/2023 ​ 3.91 ​ — ​ 20,000 ​ — ​ — ​ 20,000 ​ — TOTAL BSA share warrants 318,000 30,000 — (1,667) 346,333 302,000 Total share warrants ​ ​ ​ ​ 806,800 30,000 — (60,467) 776,333 732,000 ​ Over the year ended December 31, 2023, 20,000 BSPCEs 2021 and 1,667 BSAs 2021 were forfeited following the (partial) non-achievement of a non-market condition, 30,000 BSPCEs 2021 were forfeited following the (partial) non-achievement of a market condition and 8,800 BSPCEs 2013 following the expiration of the plan. ​ On December 31, 2023, a total of 430,000 BSPCEs (or 430,000 shares) and 346,333 BSAs were outstanding, corresponding to a total of 776,333 shares, the maximum number of shares to be issued when all related conditions are met. ​ Share based payment expense totalized €827 thousand for the year ended December 31, 2023 (compared to €765 thousand for the year ended December 31, 2022 and €859 thousand for the year ended December 31, 2021) and were recognized in personnel costs (see Note 20.1 - Personnel costs and headcount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at January 1, ​ ​ ​ ​ ​ ​ ​ at December 31, ​ shares Type ​ Grant date (in euros) 2022 Issued Exercised Forfeited 2022 exercisable BSPCE — 2013 plan ​ Dec. 13, 2013 0.59 8,800 — — — 8,800 8,800 BSPCE Plan 2021 ​ April 16, 2021 11.74 600,000 — — (120,000) 480,000 — Total BSPCE ​ 608,800 — — (120,000) 488,800 8,800 BSA — 2017 plan ​ May 29, 2017 6.67 130,000 — — — 130,000 130,000 BSA — 2018 plan ​ Dec. 14, 2018 6.07 116,000 — — — 116,000 116,000 BSA — 2019 plan ​ June 28, 2019 ​ 2.20 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Bis ​ March 9, 2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Ter ​ March 9, 2020 3.68 36,000 — — — 36,000 24,000 BSA - Plan 2021-1 ​ April 16, 2021 11.74 20,000 — — (4,000) 16,000 — Total BSA ​ ​ ​ ​ 322,000 ​ — ​ — ​ (4,000) ​ 318,000 ​ 290,000 Total ​ ​ ​ ​ ​ 930,800 ​ — ​ — ​ (124,000) ​ 806,800 ​ 298,800 ​ The change in BSPCE and BSA share warrants over 2022 can be broken down as follows: ● Cancellation of 120,000 BSPCE following the recruitments conditions that haven’t been reached; and ● Cancellation of 4,000 BSA following an employee departure. On December 31, 2022, a total of 480,088 BSPCEs (or 488,800 shares) and 318,000 BSAs were outstanding, which corresponds to a total of 806,800 shares, the maximum number of shares to be issued when all related conditions are met. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at January 1, ​ ​ ​ ​ ​ ​ ​ at December 31, ​ shares Type Grant date (in euros) 2021 Issued Exercised Forfeited 2021 exercisable BSPCE — 2013 plan Dec. 13, 2013 0.59 8,800 — — — 8,800 8,800 BSPCE Plan 2021 ​ April 16, 2021 ​ 11.74 ​ — ​ 600,000 ​ — ​ — ​ 600,000 ​ — Total BSPCE ​ ​ 8,800 600,000 — — 608,800 8,800 BSA — 2017 plan May 29, 2017 6.67 130,000 — — — 130,000 130,000 BSA — 2018 plan Dec. 14, 2018 6.07 116,000 — — — 116,000 116,000 BSA — 2019 plan June 28, 2019 2.20 10,000 — — — 10,000 10,000 BSA 2019 Bis ​ March 9, 2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Ter March 9, 2020 3.68 36,000 — — — 36,000 12,000 BSA - Plan 2021-1 ​ April 16, 2021 ​ 11.74 ​ — ​ 50,000 ​ — ​ (30,000) ​ 20,000 ​ — Total BSA ​ ​ ​ ​ 302,000 50,000 — (30,000) 322,000 278,000 Total ​ ​ ​ ​ ​ 310,800 ​ 650,000 ​ — ​ (30,000) ​ 930,800 ​ 286,800 ​ The change in BSPCE and BSA share warrants over 2021 can be broken down as follows: ● the issuance of 50,000 new 2021-1 Bis BSAs allocated to ISLS Consulting and David Nikodem, a member of Sapidus Consulting Group LLC, a service provider of the Company, of which 30,000 BSA 2021-1 allocated to ISLS Consulting had been cancelled due to the non-payment of warrants; and ● the issuance of 600,000 new 2021 BSPCE allocated to the Company’s directors, Frederic Cren and Pierre Broqua. At December 31, 2021, a total of 600,088 BSPCEs (or 608,800 shares) and 322,000 BSAs were outstanding, which corresponds to a total of 930,800 shares, the maximum number of shares to be issued when all related conditions are met. ​ 12.4. Bonus share award plans As of December 31, 2023, five bonus share award plans were outstanding: AGA 2021-1, AGA 2021-bis, AGA 2022, AGA 2023, and AGA 2023-2. The Board of Directors decided on May 25, 2023 to grant 300,000 bonus shares awards to Pierre Broqua, as Deputy Chief Executive Officer and director of the Company, under the new AGA 2023-1 plan. The Board of Directors decided on December 15, 2023 to grant 760,000 bonus shares awards to employees under the new AGA 2023-2 plan. The main characteristics are described in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AGA 2021 AGA 2021-bis AGA 2022 ​ AGA 2023 ​ AGA 2023-2 Decision of issuance by the Board of Directors 04/16/2021 12/08/2021 ​ 12/08/2022 ​ 05/25/2023 ​ 12/15/2023 Grant date 04/16/2021 12/08/2021 ​ 12/08/2022 ​ 05/25/2023 ​ 12/15/2023 Beneficiary Employees Employees ​ Employees ​ Executive ​ Employees Vesting period (year) 3 3 ​ 1 ​ 4 ​ 1 Holding period (year) — — ​ 1 ​ 4 ​ 1 Service condition Yes Yes ​ Yes ​ Yes ​ Yes Performance condition Partially (1) Partially (1) ​ No ​ No ​ No Number of AGA granted 466,000 123,000 ​ 373,000 ​ 300,000 ​ 760,000 Number of shares per AGA 1 1 ​ 1 ​ 1 ​ 1 Valuation method used ​ Dual (1) ​ Dual (1) ​ Dual (1) ​ Dual (1) ​ Dual (1) Fair value per AGA at grant date ​ [9.8 – 11.3] (1) ​ [11.4 – 12.2] (1) ​ 4.18 ​ 2.60 ​ 3.9 Expected volatility ​ 64 % 64 % N/A ​ N/A ​ N/A Average life (years) ​ 3 ​ 2.3 ​ N/A ​ N/A ​ N/A Risk-free rate ​ 0.60 % 0.60 % N/A ​ N/A ​ N/A Expected dividends ​ — ​ — ​ – ​ – ​ – Stock price reference ​ N/A ​ N/A ​ N/A ​ N/A ​ N/A Non-transferable discount N/A N/A ​ N/A ​ N/A ​ N/A (1) AGA 2021-1 and AGA 2021-bis plans are partially composed of AGAs subject to a market performance condition. AGAs 2022, AGAs 2023-1 and AGAs 2023-2 are not subject to a market performance condition. Accordingly, AGAs not subject to performance conditions are valued on the basis of the share price less future dividends, discounted at the risk-free rate. AGAs subject to performance conditions are valued using the same method, adjusted by a discount applied to reflect the performance condition. This discount is determined using the “Monte Carlo” analysis. The fair value at the grant date is different depending on whether the AGAs are subject to market performance conditions. Movements in AGA bonus shares (in number of shares issuable upon exercise) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ Outstanding ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant date ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, Type Grant Date (in euros) 2023 Granted Vested Lapsed 2023 AGA - Plan 2021 - 1 ​ 04/16/2021 ​ 11.30 ​ 340,800 ​ — ​ — ​ (43,201) ​ 297,599 AGA - Plan 2021 - bis ​ 12/08/2021 ​ 12.20 ​ 76,800 ​ — ​ — ​ (11,585) ​ 65,215 AGA 2022 ​ 12/08/2022 ​ 4.18 ​ 373,000 ​ — ​ (363,000) ​ (10,000) ​ — AGA 2023-1 ​ 05/25/2023 ​ 2.60 ​ — ​ 300,000 ​ — ​ — ​ 300,000 AGA 2023-2 ​ 12/15/2023 ​ 3.90 ​ — ​ 760,000 ​ — ​ (12,000) ​ 748,000 TOTAL free shares ​ ​ ​ ​ ​ 790,600 ​ 1,060,000 ​ (363,000) ​ (76,786) ​ 1,410,814 ​ During 2023, the change in AGA bonus shares over the period can be broken down as follows: - - The decrease in AGA bonus shares over 2023 is due to: - 13,719 AGA 2021-1 and 3,035 AGA 2021-bis plans which were forfeited following the (partial) non-achievement of a non-market condition; - 20,550 AGA 2021-1 and 4,550 AGA 2021-bis which were forfeited following the (partial) non-achievement of a market condition; - Cancellation of 8,932 AGA 2021-1, 4,000 AGA 2021-bis, 10,000 AGA 2022 and 12,000 AGA 2023-2 following an employee departure; and - The definitive vesting of 363,000 AGA 2022. At December 31, 2023,a total of 1,410,814 AGA bonus shares were outstanding. Share-based compensation expense with respect to bonus shares award plans totaled €3,020 thousand for the year ended December 31, 2023, compared to€1,452 thousand for the year ended December 31, 2022 and €1,231 thousand for the year ended December 31, 2021. They are recognized in personnel costs (see Note 20.1 - Personnel costs and headcount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant ​ Outstanding ​ ​ ​ ​ ​ ​ ​ at ​ ​ ​ ​ date ​ at January ​ ​ ​ ​ ​ Forfeited/ ​ December 31, Type Grant date (in euros) 1 , 2022 Issued Vested Lapsed 2022 AGA —2021‑1 plan ​ 04/16/21 ​ 11.30 ​ 448,000 ​ — ​ — ​ (107,200) ​ 340,800 AGA —2021‑bis plan ​ 12/08/21 ​ 12.20 ​ 123,000 ​ — ​ — ​ (46,200) ​ 76,800 AGA —2022 plan ​ 12/08/22 ​ 4.18 ​ — ​ 373,000 ​ — ​ — ​ 373,000 Total AGA ​ ​ 571,000 373,000 — (153,400) 790,600 ​ During 2022, the change in AGA bonus shares over the period can be broken down as follows: - - The cancellation of 107,200 shares of AGA 2021-1 plan that have forfeited following the departure of employees (22,000 shares) and the recruitments conditions that haven’t been reached (85,200 shares). The accounting impacts of not meeting these conditions are described in Note 20.1 – Personnel costs and headcount - The cancellation of 46,200 shares of AGA 2021-bis plan that have forfeited following the departure of employees (27,000 shares) and the recruitments conditions that have not been reached (19,200 shares). At December 31, 2022, 790,600 AGAs were outstanding. ​ Share based payments expense totaled €1,452 thousand for the year ended December 31, 2022 (compared to €1,231 thousand for the year ended December 31, 2021 and €920 thousand for the year ended December 31, 2020) and were recognized in personnel costs (see Note 20.1 – Personnel costs and headcount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant ​ Outstanding ​ ​ ​ ​ ​ ​ ​ at ​ ​ ​ ​ date ​ at January 1, ​ ​ ​ ​ ​ Forfeited / ​ December 31, Type Grant date (in euros) 2021 Issued Vested Lapsed 2021 AGA — 2019-1 plan 08/28/19 2.00 29,100 — (29,100) — — AGA — 2021-1 plan 04/16/21 11.30 — 466,000 — (18,000) 448,000 AGA —2021-bis plan 12/08/21 12.20 — 123,000 — — 123,000 Total AGA 29,100 589,000 (29,100) (18,000) 571,000 ​ During 2021, the change in AGA bonus shares over the period can be broken down as follows: ● The allocation of two new plans AGA 2021-1 and AGA 2021-bis to employees of the Company for a total of 589,000 potential new shares; ● The definitive vesting of 29,100 AGA 2019-1. As a result, 29,100 new shares were issued; and ● The cancellation of a total of 18,000 AGA 2021-1 that have forfeited following the departure of employees. At December 31, 2021, 571,000 AGAs were outstanding ​ The 2021-1 and 2021-bis AGAs are exercisable with a condition of presence, combined for half of them with certain performance conditions, at the end of a vesting period expiring on the date of the Board of Directors’ meeting planned to approve the Company’s financial statements for the year ending December 31, 2023 and will be exercisable no later than March 31, 2034. ​ 12.5. Performance units plans ​ The Board of Directors decided on 25 May 2023 to grant 300,000 performance units (“PAGUP 2023”) to Frederic Cren, Chief Executive Officer and chairman of the Board of Directors of the Company. The PAGUP is contingently cash settled. The most probable settlement is equity settled. Following the amendment to Article L. 225-197-1 II of the French Commercial Code, Frédéric Cren became eligible for AGAs instead of performance units. At the Board of Directors' meeting of March 25, 2024, it was decided to grant him 300,000 performance shares (AGA 2023-1) in place of his 300,000 performance units (PAGUP 2023). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reference ​ Outstanding ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Number of ​ ​ ​ ​ price ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, ​ exercisable Type Grant Date (in euros) 2023 Issued Exercised Lapsed 2023 shares PAGUP 2023 ​ 05/25/2023 2.60 — 300,000 — — 300,000 — TOTAL PAGUP ​ ​ ​ ​ — 300,000 — — 300,000 — ​ The main characteristics of the PAGUP 2023 are: ● Decision of issuance by the Board of Directors and grant date: May 25, 2023 ● Beneficiary: Frederic Cren, as Chief Executive Officer, chairman of the Board of Directors of the Company and co-founder. ● Vesting and holding period (year): 4 ● Service condition: Yes ● Market Performance condition: No ● Number of performance unit granted: 300,000 ● Number of shares per performance unit: 1 ● Valuation method used: PAGUPs 2023 are valued on the basis of the share price less future dividends, discounted at the risk-free rate. ● Fair value per PAGUP 2023 at grant date: €2.60 The purpose of this plan is to provide Frédéric Cren, Chief Executive Officer and chairman of the Board of Directors of the Company, with a long-term incentive scheme under economically comparable conditions to those granted to Pierre Broqua, Deputy Chief Executive Officer and director of the Company, under the AGA 2023-1 plan. As of May 25, 2023, Frédéric Cren is not eligible for a free allotment of Company shares under Article L. 225-197-1 II of the French Commercial Code, as he holds more than 10% of the Company's share capital. However, if during the one-year period starting May 25, 2023, Frédéric Cren were to become eligible for a free allotment of shares on this basis, the Board of Directors undertakes to allot to the beneficiary, in substitution for the performance units, an equivalent number of bonus shares. The bonus shares that will replace the performance units will be governed by AGA Regulation 2023-1. Following the amendment to Article L. 225-197 II of the French Commercial Code, Frédéric Cren became eligible for AGAs, as only shares held directly by an employee or corporate officer for less than seven years are now included in the 10% threshold. ​ Share - based compensation expense with respect to PAGUP totaled €122 thousand for December 31, 2023. They are recognized in personnel costs (see Note 20.1 - Personnel costs and headcount

Financial debt

Financial debt	12 Months Ended
	Dec. 31, 2023
Financial debt
Financial debt	Note 13. Financial debt ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Bank borrowings 9,984 ​ 29,689 27,206 Derivatives instruments ​ — ​ 9,876 ​ 10,265 Accrued interest payable on loans ​ 6 ​ 316 ​ 3,719 Lease liabilities 130 ​ 4,510 6,565 Royalty certificates liabilities ​ 0 ​ 0 ​ 6,327 Total debt 10,119 ​ 44,390 54,082 ​ The breakdown between long-term and short-term debt is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 1,244 7,484 1,256 — Derivatives — — — — Accrued interest payable on loans — 6 — — Lease liabilities 38 92 — — Total debt 1,282 7,582 1,256 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 4,474 4,999 17,768 2,448 Derivatives — — 9,876 — Accrued interest payable on loans 100 — 216 — Lease liabilities 1,277 3,233 — — Total debt 5,851 8,232 27,860 2,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 2,928 4,872 17,848 1,558 Derivatives — — 10,265 — Accrued interest payable on loans 82 — 3,636 — Lease liabilities 2,298 4,267 — — Royalty certificates liabilities — — — 6,327 Total debt 5,308 9,140 31,749 7,885 ​ The maturity of long-term debt and of short-term borrowings and debt is determined according to repayment estimates as at December 31, 2021, 2022 and 2023. Movements in the period break down as follows: ​ ​ ​ ​ (in thousands of euros) ​ January 1, 2021 10,055 Subscription of new leases ​ 143 Repayment of bank borrowings ​ (13) Repayment of lease liabilities ​ (15) Accrued interests ​ (51) December 31, 2021 ​ 10,119 Subscription of state-guaranteed PGE loan ​ 1,780 Subscription of PPR loan 3,560 Subscription of derivatives instruments (2) ​ 9,649 Subscription of bank borrowings (1) (2) ​ 15,400 New lease contracts ​ 5,109 Repayment of bank borrowings ​ (1,033) Repayment of lease liabilities ​ (735) Capitalized interests ​ 308 Change in fair value of derivatives instruments (2) ​ 407 Exchange rate change 6 December 31, 2022 ​ 44,390 New lease contracts ​ 3,706 Issue of royalty certificates (1) ​ 5,100 Repayment of bank borrowings ​ (2,485) Repayment of lease liabilities ​ (1,612) Interests on royalty certificates ​ 1,227 Capitalized interest (2) ​ 3,405 Change in fair value of derivatives instruments (2) ​ 389 Exchange rate change ​ (38) December 31, 2023 54,082 (1) (2) ​ Movements are further detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ carried ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carried ​ ​ on the ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of ​ on the ​ ​ balance ​ ​ ​ ​ ​ ​ ​ ​ ​ movements ​ balance ​ ​ sheet at ​ ​ ​ Capitalized ​ ​ ​ Fair ​ in ​ sheet on ​ ​ Jan. 1, ​ Additions ​ interest ​ Repayments ​ Value ​ exchange ​ December (in thousands of euros) 2023 (+) (+) (-) Variation rates 31, 2023 Lease liabilities ​ 4,510 ​ 3,706 ​ ​ (1,612) ​ ​ (38) ​ 6,566 PGE SG 2020 (state-guaranteed) ​ 2,926 ​ ​ ​ (830) ​ ​ ​ 2,096 PGE BPI France 2020 (state-guaranteed) ​ 3,094 ​ ​ ​ (825) ​ ​ ​ 2,269 PGE CA 2020 (state-guaranteed) ​ 2,926 ​ ​ ​ (830) ​ ​ ​ 2,096 PPR CA 2022 ​ 1,780 ​ ​ ​ ​ ​ ​ 1,780 PPR SG 2022 1,780 1,780 PGE BPI France 2022 (state-guaranteed) 1,780 1,780 BEI EMPRUNT PART 1 2022 15,400 15,400 DETTE BSA BEI 2022 9,876 389 10,265 Royalty certificates — 5,100 1,227 6,327 Accrual interests 319 — 3,405 3,724 Total Debt 44,390 8,806 4,632 (4,097) 389 (38) 54,082 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt carried ​ ​ Debt carried ​ ​ ​ ​ ​ ​ ​ Effect of ​ on the ​ ​ on the balance ​ ​ ​ ​ ​ ​ ​ movements ​ balance sheet ​ ​ sheet at Jan. 1, ​ Additions ​ Repayments ​ Fair Value ​ in exchange ​ on December (in thousands of euros) 2022 (+) (-) Variation rates 31, 2022 Lease liabilities 130 5,109 (735) — 6 4,510 PGE SG 2020 (state-guaranteed) 3,339 — (413) — — 2,926 PGE BPI France 2020 (state-guaranteed) 3,300 — (206) — — 3,094 PGE CA 2020 (state-guaranteed) 3,339 — (413) — — 2,926 PPR CA 2022 — 1,780 — — — 1,780 PPR SG 2022 — 1,780 — — — 1,780 PGE BPI France 2022 (state-guaranteed) — 1,780 — — — 1,780 BEI EMPRUNT PART 1 2022 — 15,400 — — — 15,400 DETTE BSA BEI 2022 — 9,469 — 407 — 9,876 Accrual interests 11 308 — — — 319 Total Debt 10,119 35,625 (1,767) 407 6 44,390 ​ 13.1.French state-guaranteed loan (“PGE”) and equity recovery loans (“PPR”) In May 2020, the Company entered into three credit agreements pursuant to which it received €10.0 million in the form of state-guaranteed loans ( Prêts Garantis par l’Etat In June 2022, the Company entered into three loan agreements with a syndicate of French banks for a total amount of €5.3 million. One loan agreement was part of a state-guaranteed PGE loan facility with Bpifrance and the other two loan agreements were part of a stimulus economic plan ( Prêts Participatifs Relance The PGE loan granted by Bpifrance in 2022 is guaranteed up to 90% by the French government with an initial term of twelve months. In May 2023, the Company exercised the option to extend the maturity to align with the 2020 PGE, until May 2026. The two PPR loans are guaranteed predominantly by the French government and feature an eight-year financing period and a four-year repayment period. The PGE repayments in 2023 amounted to €2.5 million, compared to €1.0 million in 2022, so an aggregate amount of €3.5 million as of December 31, 2023. 13.2. Credit facility agreement with the European Investment Bank On May 16, 2022, the Company entered into the Finance Contract with the EIB for up to €50 million, divided into two tranches of €25 million each. ● On December 8, 2022, the Company received the disbursement of Tranche A. Capitalized interest for Tranche A is 8% and repayment is due in December 2026, four years after its disbursement. ● On January 18, 2024, the Company received the disbursement of Tranche B (see Note 29. – Events after the reporting date ). Capitalized interest for Tranche B is 7% and repayment is due in January 2027, three years after its disbursement. The Finance Contract may, in certain circumstances, be prepaid, in whole or in part, for a prepayment fee, either at the election of the Company or as a result of EIB’s demand following certain prepayment events, including a change of control or change in senior management of the Company. Subject to certain terms and conditions, upon the occurrence of usual events of default (i.e., including payment default, misrepresentation, cross default), EIB may demand immediate repayment by the Company of all or part of the outstanding loan. As of December 31, 2023 and as of date of authorization of the issuance of these financial statements, none of the conditions that would result in an immediate demand by EIB for the repayment were met. Tranche A of €25 million was recognized as financial debt at amortized cost, which takes into account the fair value of the derivative instrument (EIB Warrants) at inception and the borrowing costs of €0.1 million. The amortized cost of the loan is €15.4 million on December 8, 2022, and remains unchanged at December 31, 2023, with an effective interest rate of 21.91%. The fair value of the loan, at both dates, is close to the amortized cost. The amortized cost of the loan was €21.4 million on December 31, 2023, with an effective interest rate of 21.91%. The fair value of the loan as of December 31, 2023, amount to €18.9 million, with a market rate of 22.2%. The capitalized interest amounted to €3.4 million in the period 2023 (compared to €0.3 million in the period 2022). 13.3. Derivatives On July 1, 2022, in connection with the Finance Contract with EIB (see section above “Credit facility agreement with the European Investment Bank”), the Company entered into a warrant agreement as a condition to the potential funding of the two tranches of the credit facility. Each EIB Warrant has a subscription price of €0.01 and gives the right to subscribe to one share. The number of EIB Warrants issued to EIB was determined based on (i) the aggregate amount raised by the Company through one or more equity offerings, or through upfront or milestone payments, from the date of the Finance Contract to the time of the disbursement of the relevant tranche, and (ii)(a) the average price per share paid for the Company’s shares in its most recent qualifying equity offering or (ii)(b) for Tranche A only, in case of no qualifying equity offering, the volume weighted average price per share of the Company over the last 180 calendar days. The EIB Warrants have a maturity of twelve years and are exercisable following the earliest to occur of (i) a change of control event, (ii) the maturity date of Tranche A, (iii) an event of default under the Finance Contract, or (iv) a repayment demand by the EIB under the Finance Contract. The EIB Warrants shall automatically be deemed null and void if they are not exercised within the twelve-year period. Each EIB Warrant will entitle EIB to one ordinary share of the Company in exchange for the exercise price (subject to anti-dilutive provisions). However, the exercise ratio of Tranche A warrants has been adjusted following the capital increase carried out on September 5, 2023, on December 31, 2023, one Tranche A warrant entitles its holder to subscribe for 1.20 ordinary shares in the Company. EIB is entitled to a put option at its intrinsic value to require the Company to buy back the exercisable EIB Warrants not yet exercised in certain of these occurrences. On November 28, 2022, the Company issued 2,266,023 EIB Warrants to EIB, in accordance with the terms of the 25th resolution of the Combined General Shareholders' Meeting of May 19, 2022 and Article L. 225-138 of the French Commercial Code, as a condition to the financing of Tranche A, representing approximately 5.2% of the Company’s share capital as of December 31, 2023. The exercise price of the EIB Warrants issued in connection with Tranche A is €4.0152, if and when they may be exercised. The potential gross proceeds if all EIB Warrants issued in connection with Tranche A were exercised would amount to €9.1 million. The transactions costs for the issuance of the EIB Warrants issued in connection with Tranche A amounted to €56 thousands. The warrants issued to EIB in connection with the Finance Contract do not meet the “fixed for fixed” criteria (non-cash settlement option which may result in exchanging a variable number of shares for a variable price) and are accounted for as standalone derivative instruments. The Company’s put options meet the definition of a derivative that are valued with the EIB Warrants. The warrant agreement includes a put option: EIB may request the Company to buy back the EIB Warrants in cash. In this context the purchase price will be defined as the difference between the volume weighted average of the trading price of the ordinary shares over the last 90 trading days and the strike price. The amount is capped, and EIB may exercise the EIB Warrants for which they did not exercise the put option. At inception, the financial debts are split between (i) a debt component accounted for at amortized cost, and (ii) a premium corresponding to the initial fair value of attached EIB Warrants (then remeasured at fair value through profit and loss) including a component corresponding to the put options. Valuation approach The fair value of the EIB Warrants has been estimated based on a Longstaff Schwartz approach, including the put option and the attached cap. This approach enables the estimation of the value of American options (that may be exercised during a specific period of time) with complex way of exercise (the warrant holder may exercise the warrants on the market based on the Company’s share price or exercise the put option based on the 90 days average share price of the Company). The Longstaff Schwartz approach is also based on the value of the underlying equity instrument at the valuation date, the volatility observed on the historical share price of the Company, and the contractual lifespan associated equity instruments. The hypothesis and results are detailed in the following tables: ​ ​ ​ ​ ​ ​ BSA 2022 Grant date 11/28/2022 ​ Expiration date 11/28/2030 ​ Number of BSA issued 2,266,023 ​ Subscription premium price per share (€) 0.01 ​ Exercise price per share (€) 4.02 ​ Valuation method Longstaff Schwartz ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of November 28, As of December 31, As of December 31, ​ 2022 (Grant Date) 2022 2023 ​ Number of BSA outstanding ​ 2,266,023 ​ 2,266,023 ​ 2,266,023 Number of shares per BSA ​ 1.00 ​ 1.00 ​ 1.20 ​ Stock price (€) 4.13 4.48 4.10 ​ Maturity (years) 12.0 11.9 10.9 ​ Volatility 68 % 68 % 62 % Cap of the put option (k€) 25.0 25.0 25.0 ​ Risk free rate Euribor 6M Euribor 6M Euribor 6M ​ Expected dividends — — — ​ Fair Value (k€) 9,469 9,876 10,266 ​ Unit fair value 4.18 4.36 4.53 ​ ​ 13.4. Lease liabilities As of December 31, 2023 Lease liabilities amount to €6.6 million as of December 31, 2023, and increase by €2.1 million compared to December 31, 2022. The lease liabilities are recognized each time a new Fibroscans is leased, on a period of four years. Lease liabilities are calculated using specific discount rates, in connection with the geographic area, the maturity of the debt, and the commencement date, according to the method described in Note 3.2 – Lease contracts ​ As of December 31, 2022 The net increase in lease liabilities of €4.5 million is related to the increase of €5.1 million in rights of use assets for the Fibroscans leased equipment. The lease liabilities are recognized each time a new Fibroscans is leased, on a period of four years. Lease liabilities are calculated using specific discount rates, in connection with the geographic area, the maturity of the debt, and the commencement date, according to the method described in Note 3.2 – Lease contracts 13.5. Royalty Certificates liabilities On August 31, 2023, the Company announced the issuance of the Royalty Certificates for an aggregate amount of €5.1 million described in Note 1.2 – Significant events of 2023 The Royalty Certificates are accounted at the inception at the fair value (€5.1 million on August 31, 2023), and then at the amortized cost (€6.3 million on December 31, 2023) with an effective interest rate of 31.9% . Fair value as of December 31, 2023 On December 31, 2023, the fair value of the Royalty Certificates, calculated using discounted cash flow approach, amounts to €9.6 million. The fair value corresponds to the net present value of royalties, which depend on assumptions made by the Company with regards to the probability of success of its studies, the markets sales of lanifibranor and the discount rate (24.9%). The discount rate has been estimated based on a reconciliation between the Company’s business plan and the Company’s market capitalization as of December 31, 2023.

Provisions

Provisions	12 Months Ended
	Dec. 31, 2023
Provisions
Provisions	Note 14. Provisions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2021 Additions Reversals/reclasses 2021 CIR 2013-2015 ​ 1,497 ​ — ​ (1,497) ​ — CIR 2017 ​ 880 ​ — ​ (880) ​ — Long ‑ term provisions 2,377 — (2,377) ​ — Payroll taxes 2016-2018 ​ 130 ​ 51 ​ — ​ 180 Short ‑ term provisions 130 51 — ​ 180 Total Provisions 2,507 51 (2,377) ​ 180 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2022 Additions Reversals/reclasses December 31, 2022 Long ‑ term provisions — — — — Payroll taxes 2016-2018 180 — (180) — Short ‑ term provisions 180 — (180) — Total Provisions 180 — (180) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ ​ ​ December 31, (in thousands of euros) 2023 Additions Reversals/reclasses 2023 Long ‑ term provisions — — — — Short ‑ term provisions — — — — Total Provisions — — — — ​ Provisions booked at January 1, 2022 relate to the late payment penalties as a result of the tax audit carried out on payroll taxes 2016- 2017. The reversal of provisions for the period is due to the receipt of two formal notices from the tax authorities concerning late payments penalties on the tax audit carried out on the CIR and payroll taxes. The settlements of the CIR and payroll tax disputes is described in Note 16.2 – Other current liabilities Provisions booked at December 31, 2021 were related to: - The CIR risk and payroll taxes risk pursuant to the tax audit carried out by the French tax authority in July 2016 for the years ended December 31, 2013, 2014 and 2015 (long term for CIR risk and short term for payroll taxes risk); - In September 2019, a tax adjustment risk regarding payroll taxes for the years ended December 31, 2016, 2017 and 2018; and - The CIR risk for the year ended December 31, 2017 in connection with the partial reimbursement received in December 2019.

Provisions for retirement benef

Provisions for retirement benefit obligations	12 Months Ended
	Dec. 31, 2023
Provisions for retirement benefit obligations
Provisions for retirement benefit obligations	Note 15. Provisions for retirement benefit obligations Retirement benefit obligations are determined based on the rights set forth in the national collective bargaining agreement for the French pharmaceutical industry (IDCC 176/Brochure 3104) and in accordance with IAS 19 — Employee Benefits. These rights depend on the employee’s final salary and seniority within the Company at his/her retirement date. Principal actuarial assumptions The following assumptions were used to measure the obligation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, Parameters 2021 2022 2023 Retirement age ​ 65 years 65 years 65 years Payroll taxes ​ 41.41 % 41.41 % 41.41 % Salary growth rate ​ 2.00 % 2.00 % 2.00 % Discount rate ​ 1.00 % 3.70 % 3.20 % Mortality table ​ TGH/TGF 05 ​ TGH/TGF 05 TGH/TGF 05 ​ ​ The discount rate corresponds to the rates of Eurozone AA-rated corporate bonds with maturities of over ten years. Net provision The provision recorded in respect of defined benefit schemes at the end of each reporting period is shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Retirement benefit obligations 1,429 ​ 1,234 1,559 Total obligation 1,429 ​ 1,234 1,559 ​ Given the absence of plan assets at December 31, 2023, 2022 and 2021 the total amount of the provision corresponds to the estimated obligation at those dates. Changes in the net provision Changes in the provision recorded in respect of defined benefit schemes break down as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Provision at beginning of period (1,385) ​ (1,429) (1,234) Other changes ​ 75 ​ — ​ — Expense for the period (200) ​ (230) (228) Actuarial gains or losses recognized in other comprehensive income 82 ​ 425 (97) Provision at end of period (1,429) ​ (1,234) (1,559) ​ Breakdown of expense recognized for the year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Service cost for the period (224) ​ (237) (183) Interest cost for the period (5) ​ (14) (46) Benefits for the period 29 ​ 21 — Total (200) ​ (230) (228) ​ For the year ended December 31, 2023, the total expense related to the retirement benefit obligation remains stable in comparison to 2022 and 2021. Breakdown of actuarial gains and losses recognized in comprehensive income (loss) The actuarial gains (losses) can be analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Demographic changes (27) ​ 42 (30) Changes in actuarial assumptions 109 ​ 383 (67) Total 82 ​ 425 (97) ​ Demographic differences mainly relate to salary adjustments. Changes in actuarial assumptions relate to movements in the discount rate (1.00% in 2021, to 3.70% in 2022 and to 3.20% in 2023). Sensitivity analysis A 0.25% change in the discount rate would have had an impact of approximately 2.2% on the obligation amount in 2023 and 2.3% in 2022 and 2.8% in 2021. ​ ​ ​ ​ ​ ​ 31/12/2023 ​ In thousands of euros Benefit obligation at 31/12/2023 at 2.95% 1,595 Benefit obligation at 31/12/2023 at 3.20% 1,559 Benefit obligation at 31/12/2023 at 3.45% 1,525 ​ ​ ​ ​ ​ ​ 31/12/2022 ​ In thousands of euros Benefit obligation at 31/12/2022 at 3.45% 1,263 Benefit obligation at 31/12/2022 at 3.70% 1,234 Benefit obligation au 31/12/2022 at 3.95% 1,205 ​ ​ ​ ​ ​ ​ 31/12/2021 ​ In thousands of euros Benefit obligation au 31/12/2021 at 0.75% 1,471 Benefit obligation au 31/12/2021 at 1.00% 1,429 Benefit obligation at 31/12/2021 at 1.25% 1,389 ​

Other current and non-current l

Other current and non-current liabilities	12 Months Ended
	Dec. 31, 2023
Other current and non-current liabilities
Other current and non-current liabilities	Note 16. Other current and non-current liabilities ​ 16.1. Other non-current liabilities ​ The other non-current liabilities amount to € 1.0 million as of December 31, 2023, and include only a CTTQ advance: in accordance with an agreement dated December 20, 2023, and relating to the re-invoicing of the costs of the NATiV3 Phase III global trial, CTTQ owes the Company an advance calculated on the total budget of the trial. 16.2. Other current liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Employee‑related payables 1,518 ​ 1,866 ​ 1,869 Accrued payroll and other employee‑related taxes 1,234 ​ 1,340 ​ 1,540 VAT payables ​ 879 ​ 2,128 ​ 3,569 Other accrued taxes and employee‑related expenses 178 ​ 140 ​ 164 Other miscellaneous payables 2,979 ​ 12 ​ 23 Other current liabilities 6,789 ​ 5,485 ​ 7,165 ​ No discounting has been performed on other current liabilities as their maturity is less than 1 year at the end of the period. At December 31, 2023, other current liabilities increased by €1.7 million, mainly due to an increase in VAT payables by €1.4 million, mostly including self-assessed VAT. At December 31 2022, other current liabilities decreased by €1.3 million, mainly due to a decrease in other miscellaneous liabilities of €3.0 million and to the €1.2 million increase in VAT payables. At December 31, 2021, other current liabilities mainly consist of “Other miscellaneous payables”, as well as “Employee-related payables” and “Accrued payroll and other employee-related taxes”. Other miscellaneous payables at December 31, 2021 mainly correspond to: - An accrued expense for an amount of €1.2 million (mark-up and delays interests at December 31, 2019 included) following receipt of the Notice of Recovery (“AMR”),on October 30, 2020, relating to the payroll tax for the taxable years 2016 and 2017 making the liability certain and, consequently required its reclassification from provision to current liabilities (see Note 14. – Provisions ). - An accrued expense for an amount of 1.6 million (mark-up and delays interests included) following the partial acceptance by the tax authorities of the CIR for the years 2013 to 2015, making the liability certain and requiring its reclassification from a provision to an accrued liability (see Note 14. – Provisions ). Accrued payroll and other employee-related taxes mainly relate to payables to social security and employee-benefit organizations such as URSSAF, KLESIA and APGIS for the full year of 2023. Other accrued taxes and employee-related expenses concern provisions for payroll taxes, such as professional training charges, apprenticeship tax, the employer’s contribution to construction investment in France and the payroll tax.

Trade payables, short-term cont

Trade payables, short-term contract liabilities and other current liabilities	12 Months Ended
	Dec. 31, 2023
Trade payables, short-term contract liabilities and other current liabilities
Trade payables and short-term contract liabilities	​ Note 17. Trade payables and short-term contract liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Trade payables ​ 14,602 ​ 19,359 37,679 Short-term contract liabilities ​ — ​ 6 ​ 6 Trade payables and other current liabilities ​ 14,602 ​ 19,364 37,685 ​ No calculations have been made to discount trade payables and other current liabilities to present value as payment is due within one year of the end of the reporting period. ​ Trade payables include €12.9 million, €11.2 million and €6.8 million of accrued expenses as of December 31, 2023, 2022 and 2021. ​ 17.1. Trade payables Trade payables break down as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Due in 30 days ​ 14,445 ​ 19,156 24,995 Due in 30-60 days ​ 158 ​ 201 12,684 Due in more than 60 days ​ — ​ 2 — Trade payable ​ 14,602 ​ 19,359 37,679 ​ As of December 31, 2023, trade payables are composed of accrued liabilities for €12.9 million of which €11.3 million relate to scientific projects. As of December 31, 2023, trade payables increased by €18.3 million compared to December 31, 2022. The variation in trade payables is mainly related to the increase in research and development expenses in connection with the NATiV3 Phase III trial evaluating lanifibranor in NASH.

Financial assets and liabilitie

Financial assets and liabilities	12 Months Ended
	Dec. 31, 2023
Financial assets and liabilities
Financial assets and liabilities	Note 18. Financial assets and liabilities ​ The table below presents the carrying amount of financial assets and liabilities by IFRS 9 accounting category: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ value through ​ carried at ​ carried at ​ ​ (in thousands of euros) position profit or loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long‑term deposit accounts ​ 9,000 — 9,000 ​ — 9,000 Long-term security deposits ​ 8 ​ — ​ 8 ​ — ​ 8 Advance payment ​ 1,047 ​ — ​ 1,047 ​ — ​ 1,047 Short‑term deposit accounts ​ 70 ​ — ​ 70 ​ — ​ 70 Trade receivables ​ 3,807 — 3,807 ​ — 3,807 Other receivables ​ 857 ​ — ​ 857 ​ — ​ 857 Cash and cash equivalents ​ 26,918 ​ — ​ 26,918 ​ — ​ 26,918 Total assets ​ 41,706 — 41,706 ​ — 41,706 Financial liabilities ​ ​ ​ ​ Long-term debt ​ 32,181 — — ​ 32,181 29,701 Derivative instruments ​ 10,265 ​ 10,265 ​ — ​ — ​ 10,265 Royalty certificates liabilities ​ 6,327 ​ — ​ — ​ 6,327 ​ 9,617 Short‑term debt ​ 5,308 — — ​ 5,308 5,308 Trade payables ​ 37,679 — — ​ 37,679 37,679 Other miscellaneous payables ​ 23 — — ​ 23 23 Total liabilities ​ 91,784 10,265 — ​ 81,518 92,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31,2022 ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ value through ​ carried at ​ carried at ​ ​ (in thousands of euros) position profit or loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term accrued income ​ 65 ​ — ​ 65 ​ — ​ 65 Long-term deposit accounts ​ 700 — 700 ​ — 700 Long-term security deposits ​ 8 — 8 ​ — 8 Advance payment ​ 895 ​ — ​ 895 ​ — ​ 895 Current accrued income ​ 117 ​ — ​ 117 ​ — ​ 117 Short-term deposit accounts ​ 1,048 ​ — ​ 1,048 ​ — ​ 1,048 Other receivables ​ 444 — 444 ​ — 444 Cash and cash equivalents ​ 86,736 — 86,736 ​ — 86,736 Total assets ​ 90,014 — 90,014 ​ — 90,014 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ 28,663 — — ​ 28,663 28,663 Derivative instruments ​ 9,876 ​ 9,876 ​ — ​ — ​ 9,876 Short-term debt ​ 5,851 — — ​ 5,851 5,851 Trade payables ​ 19,359 ​ — ​ — ​ 19,359 ​ 19,359 Other miscellaneous payables ​ 12 ​ — ​ — ​ 12 ​ 12 Total liabilities ​ 63,760 ​ 9,876 ​ — ​ 53,884 ​ 63,760 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31,2021 ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair value ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ through profit or ​ carried at ​ carried at ​ ​ (in thousands of euros) position loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ Long-term accrued income ​ 92 — 92 ​ — 92 Long-term deposit accounts ​ 1,745 ​ — ​ 1,745 ​ — ​ 1,745 Long-term security deposits ​ 8 — 8 ​ — 8 Advance payment ​ 689 ​ — ​ 689 ​ — ​ 689 Short-term deposit accounts ​ 8,829 8,829 — ​ — 8,829 Trade receivables ​ 4,000 ​ — ​ 4,000 ​ — ​ 4,000 Other receivables ​ 1,055 — 1,055 ​ — 1,055 Cash and cash equivalents ​ 86,553 — 86,553 ​ — 86,553 Total assets ​ 102,972 8,829 94,143 ​ — 102,972 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ 8,837 — — ​ 8,837 8,837 Short-term debt ​ 1,282 ​ — ​ — ​ 1,282 ​ 1,282 Trade payables ​ 14,602 ​ — ​ — ​ 14,602 ​ 14,602 Other miscellaneous payables ​ 2,979 ​ — ​ — ​ 2,979 ​ 2,979 Total liabilities ​ 27,701 ​ — ​ — ​ 27,701 ​ 27,701 ​

Revenues and other income

Revenues and other income	12 Months Ended
	Dec. 31, 2023
Revenues and other income
Revenues and other income	Note 19. Revenues and other income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (in thousands of euros) 2021 2022 2023 Revenue 4,194 ​ 12,179 17,477 Total revenues 4,194 ​ 12,179 17,477 Tax credits 4,069 ​ 5,863 5,333 Subsidies 8 ​ 10 9 Other 229 ​ 762 344 Total other income 4,307 ​ 6,635 5,686 Total revenues and other income 8,501 ​ 18,814 23,163 ​ 19.1. Revenues ​ Revenue is recognized under IFRS 15 – Revenue Revenue Revenue recognition applied to CTTQ Following the IFRS 15 analysis, three main distinct performance obligations have been identified under the license and collaboration agreement with CTTQ: ● Transfer of Know-How: all data and information that is useful for the development, manufacture or commercialization of the licensed compound or licensed products in the field in the licensee territory. The transfer of know-how corresponds to a right-to-use license and the transfer of this license has been completed as of January 1, 2023. Revenue was recognized at that point in time (see below); ● Development Services – Phase I: In the course of the development services to be completed during - Phase I, the Company provides development services in connection with the license, which is controlled by CTTQ since its transfer, for a certain period of time that will enhance it in the meantime. Based on the Company’s assessment of the nature of the services the development services – Phase I were determined to be a separate performance obligation as the promise is separately identifiable as part of the contract and CTTQ can benefit from the services together with the license that has already been transferred to it. CTTQ has access to the developments overtime and revenue is recognized accordingly (see below); and ● Transfer of the manufacturing technology: this transfer gives CTTQ rights to the intellectual property, as such the transfer of the manufacturing technology is determined to be a license in the context of the agreement, in accordance with IFRS 15. The transfer of the manufacturing technology corresponds to a right-to-use license and the transfer of this license has not been completed as of December 31, 2022. Revenue will be recognized at the point in time at which the performance obligation will be fulfilled (see below). Under the license, CTTQ is committed to make the following payments: ● Upfront payment : Non-refundable upfront fee: $12.0 million; ● Regulatory milestones : Development and regulatory milestone payments – six milestones, amounting up to $40 million in aggregate; ● Commercial milestones : Sales-based milestone payments, divided into six successive targets and amounting up to $250 million in aggregate; and ● Royalties : Sales-based royalties. According to the contract the non-refundable upfront fee is due on the effective date as defined in the contract. The potential regulatory and commercial milestone payments may represent up to $290 million, in addition to the non-refundable upfront fee of $12 million. Revenue related to regulatory milestone will be recognized when achieved over the contract term until the obtention of the regulatory approval in Mainland China. Revenue related to commercial milestone will be recognized over the term of the contract when achieved, starting upon commercialization of the licensed products. The consideration for the licensing contract consists of fixed and variable parts. The license contract in place provides distinct right-to-use licenses, therefore under IFRS 15 the fixed part of the consideration is recognized at the point in time when the licensee can direct the use and benefit from the license. For any variable consideration revenue is recognized at the point in time when the variable constraint is removed. Sales-based royalties revenue is recognized at the later when (i) the subsequent sale occurs and (ii) the performance obligation has been satisfied. Under IFRS 15, the allocation and recognition of revenue was determined as follows based on the stand alone selling price of each of the performance obligations: ● The $12.0 million upfront payment was allocated to the license, the development services and the transfer of manufacturing technology; The allocation of the transaction price to each performance obligation has been performed by determining the stand alone selling price of the development services and the transfer of manufacturing technology and the allocation to the license was determined on the residual method. In 2022, revenue is recognized for the existing know how transferred to CTTQ and overtime for the % completion (input method) for the Phase I (Development Services) Revenue as of December 31, 2022, amounts to €12.1 million, including €12.0 million related to know how transfer. ● Regulatory and commercial milestones payments whose payment depends on the achievement of certain technical, regulatory or commercial events, as provided in the contract, are variable compensation that will be recognized as revenue if and when the milestones are met. The Company invoiced CTTQ for $2.1 million on May 22, 2023 (the total invoice corresponds to the milestone payment of $2 million following the IND approval from the NMPA, and an additional billing of $0.1 million). On July 19, 2023, the Company received $1.9 million after deducting the withholding tax of $0.2 million 4 The Company invoiced CTTQ for $3.2 million on December 12, 2023 (the total invoice corresponds to the milestone payment of $3 million following the randomization of the first patient in China, and an additional billing of $0.2 million). On December 29, 2023, the Company received $2.8 million after deducting the withholding tax of $0.3 million 5 ● Royalties on commercial sales, if any, by CTTQ will be recognized as revenue when the underlying sales will be made, under the terms and timeframes set out in the agreement. No amounts were recognized in 2023. This contract contains several performance obligations. As a result, the Company has ensured, as required by IFRS 15, that the revenue allocation of the transaction corresponds to the stand-alone selling price of each obligation. Revenue recognition applied to Hepalys License Agreement On September 20, 2023, the Company entered into the Hepalys License Agreement (see Note 1.2 – Significant events of 2023 Following the analysis of the Hepalys License Agreement, the Company determined that the agreement is to be accounted as a contract with a customer in accordance with IFRS 15 – Revenue from contracts with customers Revenue Following the IFRS 15 analysis, one main performance obligation has been identified: ● Transfer of the Company intellectual property: all data and information that is useful for exploiting of the licensed compound or licensed products in the field in the licensee territory. The transfer of know-how corresponds to a right-to-use license and the transfer of this license has been fully completed in the course of November 2023. Revenue is recognized at a point in time accordingly. At the same time, the parties entered into a manufacture and supply agreement which relates to the supply of the licensed product in the course of the clinical study and for commercial purposes. A specific price is determined for the supply of licensed products. Management considers that the price is in accordance with the market practice and reflects a stand-alone selling price that is not part of the transaction price of the Hepalys License Agreement and does not give rise to a material right. As such management determines that no part of the transaction price determined should be allocated in regards of the Hepalys Clinical Supply Agreement. When determining the transaction price of the Hepalys License Agreement as of December 31, 2023, management considered the payments which Hepalys is committed to make under the Hepalys License Agreement as well as non-cash consideration. The payments under the Hepalys License Agreement are the following: ● Upfront payment : Non-refundable upfront fee: $10 million; ● Development milestones : Development milestone payments – four milestones, potentially amounting to up to $37.5 million in aggregate; ● Commercial milestones : Sales-based milestone payments, divided into five successive targets and potentially amounting up to $193.6 million in aggregate; and ● Royalties : Sales-based royalties. 4 5 According to the Hepalys License Agreement, the non-refundable upfront payment is due within thirty days after the effective date of the contract. The potential development and commercial milestone payments may represent up to $231 million, in addition to the non-refundable upfront fee of $10 million. Variable consideration related to development milestones is measured based on the achievement of the milestones over the term of the Hepalys License Agreement, meaning the receipt of the regulatory approval in Japan and South Korea, and will be included in the transaction price when the uncertainty will be resolved. Revenue related to commercial milestones will be recognized over the term of the Hepalys License Agreement when cumulative sales thresholds will be reached, starting upon the potential commercialization of the licensed products. Management also identified non-cash consideration when determining the transaction price of the contract. In the framework of the Hepalys License Agreement, the Company entered into the Catalys Option Agreement to acquire 30% of the shares of Hepalys at an exercise price of ¥300 (equal to €1.90). Management determined that the option granted by Catalys is a non-cash consideration, for the Hepalys License Agreement, needs to be included when determining the transaction price and should be measured at fair value. The consideration for the Hepalys License Agreement consists of fixed and variable components. The Hepalys License Agreement provides distinct right-to-use licenses. Therefore, under IFRS 15, the fixed part of the consideration is recognized at a point in time when the licensee can direct the use and benefit from the license. Estimated variable considerations for development milestones are included in the estimated transaction price when it is highly probable that the resulting revenue recognized would not have to be reversed in a future period. This is unlikely to be before each related milestone is achieved. This amount will be recognized as revenue when it is included in the transaction price. Estimated variable considerations for commercial milestones are included in the estimated transaction price only when the cumulative threshold specified in the contract has been reached and revenue is recognized at a point in time. Sales-based royalties’ revenue is recognized at the later when (i) the subsequent sale occurs and (ii) the performance obligation has been satisfied. Consequently the transaction price (cash and non-cash considerations) is fully allocated to the license under the Hepalys License Agreement, and comprised the following: ● The upfront payment of $10 million (equal to €9.3 million); and ● The fair value of the option (non-cash consideration) amounting to $3.6 million (equal to €3.4 million, see Note 6. — Investments accounted for using the equity method ). Revenue recognition applied to AbbVie In 2021, revenue amounted to €4.2 million and mainly corresponds to a milestone payment of €4.0 million to be received by the Company following the launch of the Phase IIb study on the cedirogant program, in accordance with the terms of the collaboration agreement between the Company and AbbVie. Since August 2018, the Company completed performance of its obligations with respect to the cedirogant program and AbbVie is responsible, at its sole cost and discretion, for all further development and commercialization activities. Consequently, in accordance with IFRS 15, this milestone payment was recognized for its entire amount as revenue as soon as it became highly probable that it would be obtained, i.e. as soon as the first patient was enrolled in the clinical trial. The Company received the payment from AbbVie on January 31, 2022 (see Note 1.3 - Significant events of 2022 and 2021 On October 28, 2022, AbbVie announced its decision to stop the development of cedirogant (previously ABBV-157), as described in Note 1.3 - Significant events of 2022 and 2021 19.2. Other income Research tax credit Tax credits are the 2023 CIR as of December 31, 2023, in the amount of €5.3 million. In 2022 and 2021, tax credits corresponded to the amount of research tax credit recorded for each period.

Operating expenses

Operating expenses	12 Months Ended
	Dec. 31, 2023
Operating expenses
Operating expenses	Note 20. Operating expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ ​ Research and business General and ​ December 31, 2021 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Disposables (1,472) ​ — ​ — ​ (1,472) Energy and liquids (513) ​ — ​ — ​ (513) Patents (543) ​ — ​ — ​ (543) Studies (33,004) ​ — ​ — ​ (33,004) Maintenance (1,017) ​ — ​ — ​ (1,017) Fees (160) ​ (138) ​ (2,746) ​ (3,044) IT systems (744) ​ (9) ​ (52) ​ (806) Support costs (including taxes) — ​ — ​ (782) ​ (782) Personnel costs (9,645) ​ (213) ​ (3,556) ​ (13,413) Depreciation, amortization and provisions (751) ​ — ​ (176) ​ (927) Other (602) ​ (4) ​ (3,844) ​ (4,450) Total operating expenses (48,452) ​ (364) ​ (11,155) ​ (59,971) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2022 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Disposables (1,681) ​ — ​ — ​ (1,681) Energy and liquids (633) ​ — ​ — ​ (633) Patents (510) ​ — ​ — ​ (510) Studies (42,375) ​ — ​ (2) ​ (42,377) Maintenance (995) ​ — ​ — ​ (995) Fees (175) ​ (570) ​ (3,843) ​ (4,587) IT systems (852) ​ (16) ​ (92) ​ (960) Support costs (including taxes) (1) — ​ (1,280) ​ (692) ​ (1,971) Personnel costs (11,149) ​ (219) ​ (3,964) ​ (15,332) Depreciation, amortization and provisions (1,462) ​ — ​ (220) ​ (1,683) Other (637) ​ (499) ​ (4,099) ​ (5,234) Total operating expenses (60,469) ​ (2,583) ​ (12,912) ​ (75,965) (1) In November 2022, the Chinese government levied a withholding tax corresponding to 10% of the amount paid by CTTQ to the Company; €1.3 million. Companies subject to withholding tax in China are allowed to consider the amount paid as a tax credit in France, as there is a tax treaty between the two countries. The credit is chargeable only to the current financial year. As the Company is loss-making, the amount of withholding tax is recognized as a tax expense (not tax deductible). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2023 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Disposables (1,799) ​ — ​ — ​ (1,799) Energy and liquids (900) ​ — ​ — ​ (900) Patents (551) ​ — ​ — ​ (551) Studies (88,162) ​ — ​ — ​ (88,162) Maintenance (1,017) ​ — ​ — ​ (1,017) Fees (135) ​ (215) ​ (4,084) ​ (4,434) IT systems (845) ​ (16) ​ (90) ​ (951) Support costs (including taxes) (1) 0 ​ (473) ​ (767) ​ (1,240) Personnel costs (13,568) ​ (224) ​ (4,743) ​ (18,535) Depreciation, amortization and provisions (2,317) ​ — ​ (209) ​ (2,527) Other (719) ​ (1,051) ​ (3,944) ​ (5,714) Total operating expenses (110,012) ​ (1,980) ​ (13,837) ​ (125,828) ​ In the year ended December 31, 2023, Research and development costs include the deduction of the reinvoicing to CTTQ of specific costs related to CRO expenses for clinical trials in China, for an amount of €4.0 million. ​ 20.1. Personnel costs and headcount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2021 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Wages, salaries and similar costs (6,031) ​ (199) ​ (1,867) ​ (8,097) Payroll taxes (2,173) ​ — ​ (838) ​ (3,010) Provisions for retirement benefit obligations (148) ​ — ​ (68) ​ (216) Share‑based compensation expense (1,293) ​ (13) ​ (783) ​ (2,089) Total personnel costs (9,645) ​ (213) ​ (3,556) ​ (13,413) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2022 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Wages, salaries and similar costs (7,382) ​ (190) ​ (2,242) ​ (9,814) Payroll taxes (2,213) ​ (16) ​ (841) ​ (3,069) Provisions for retirement benefit obligations (157) ​ — ​ (73) ​ (231) Share‑based compensation expense (1) (1,397) ​ (13) ​ (808) ​ (2,218) Total personnel costs (11,149) ​ (219) ​ (3,964) ​ (15,332) (1)The recruitment of patients for the NATiV3 Phase III clinical trial being one of the performance conditions for the allocation of securities giving access to the capital, the delay during the third quarter of 2022 led to a recalculation of the IFRS 2 charge. The expense for the year includes a reversal of €0.8 million of the expense as of December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2023 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Wages, salaries and similar costs (8,376) ​ (181) ​ (2,450) ​ (11,007) Payroll taxes (2,394) ​ (19) ​ (963) ​ (3,376) Provisions for retirement benefit obligations (124) ​ — ​ (58) ​ (183) Share-based compensation expense (2,673) ​ (25) ​ (1,272) ​ (3,969) Total personnel costs (13,568) ​ (224) ​ (4,743) ​ (18,535) ​ As of December 31, 2023, 114 people were employed by Inventiva SA and 9 people by Inventiva Inc., for a total of 123 people, compared with 113 people as of December 31, 2022, and 105 people as of December 31, 2021.

Other operating income and expe

Other operating income and expenses	12 Months Ended
	Dec. 31, 2023
Other operating income and expenses
Other operating income and expenses	Note 21. Other operating income and expenses Other operating income and expenses break down as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Proceeds - Disposals of fixed assets ​ 9 ​ — ​ — Reversal of provisions - CIR 2013-2015 ​ 2,377 ​ — ​ — Reversal of provisions - tax litigation ​ 1,497 ​ 180 ​ — Reversal of provisions - AMR penalties ​ 880 ​ 114 ​ — Reversal of impairment on the carry back receivable ​ 333 ​ — ​ — Total other operating income 2,720 ​ 294 — Disposals of assets ​ — ​ (9) ​ — Provision for risk on payroll taxes (51) ​ — — Accrued expenses to be paid to the tax authorities - CIR 2013 to 2015 ​ (1,584) ​ — ​ — Late payment interest on CIR 2013-2015 ​ — ​ (123) ​ — Waiver of CIR 2017 claim ​ (640) ​ — ​ — CIR provision (137) ​ — — Transaction costs (952) ​ (121) (44) Total other operating expenses (3,364) ​ (254) (44) Other operating income (expenses) (644) ​ 40 (44) ​ During 2023, other operating income and expenses are exclusively due to transaction costs. During 2022, other operating income and expenses decreased respectively by €2.4 million and €3.1 million compared to 2021. During 2021, other operating income were mainly composed of: ​ (i) The progress of discussions with the French tax authorities concerning the tax credit for the years 2013 to 2015. As a result, a reversal of the provision for tax risks on the CIR for the years 2013 to 2015, for €1.5 million, was recorded against an accrued expense of €1.6 million; (ii) The progress of exchanges with the French tax authorities concerning the CIR for the year 2017. As a result, a reversal of a provision for tax risk on the CIR for fiscal year 2017, in the amount of €0.9 million, and a waiver of a receivable for €0.6 million have been recorded; (iii) The full allowance of the carry back receivable recorded at December 31, 2020 for €0.3 million has been reversed in full and a tax charge is also recognized for the same amount. Consequently, the net impact on the consolidated income statement is zero; and (iv) Insurance costs relating to the Public Offering of Securities Insurance taken out in connection with the Company’s IPO on the Nasdaq Global Market in July 2020 for an amount of €0.8 million over fiscal year 2021.

Financial income and expenses

Financial income and expenses	12 Months Ended
	Dec. 31, 2023
Financial income and expenses
Financial income and expenses	Note 22. Financial income and expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Income from cash equivalents 57 ​ 390 ​ 991 Foreign exchange gains 5,421 ​ 4,532 ​ 797 Total financial income 5,478 ​ 4,923 ​ 1,788 Interest cost (138) ​ (584) ​ (5,178) Foreign exchange losses ​ (1,842) ​ (1,068) ​ (1,269) Losses on fair value variation (651) ​ (407) ​ (389) Other financial expenses (5) ​ (47) ​ (46) Total financial expenses (2,635) ​ (2,107) ​ (6,882) Net financial income 2,842 ​ 2,816 ​ (5,095) ​ For the year ended December 31, 2023, financial expenses mainly include: - Interests in which: o €3.4 million correspond at the interests related to the EIB Finance Contract; o €0.4 million correspond at the interests related to the Royalty Certificates; o €0.2 million correspond at the interests on lease liabilities; o interests on the PGE loans, the PPR loans; - change in fair value of the EIB Warrants issued in connection with Tranche A; and - foreign exchange losses. For the year ended December 31, 2023, financial income mainly include: - Income interest related from deposit account denominated in U.S - Foreign exchange gains For the year ended December 31, 2022, financial income is mainly composed of foreign exchange gains related to bank accounts denominated in U.S and the appreciation of dollar against euro during the period. Foreign exchange gains include €2.4 million related to short term deposit unwinding in the first quarter for €8 million, in the third quarter for €15 million and €8 million on the fourth quarter. Financial expenses mainly include foreign exchange losses, and also interest related to the PGE loans, the PPR loans and the EIB agreement, change in fair value of the EIB Warrants, and financial interest on lease liabilities. For the year ended December 31, 2021, financial income mainly came from foreign exchange gains related to bank accounts denominated in U.S. Financial expenses mainly included foreign exchange losses related to the foreign currency short-term deposits and the change in fair value resulting from the settlement of three foreign currency forward sales contracts.

Share of net profit - Equity me

Share of net profit - Equity method	12 Months Ended
	Dec. 31, 2023
Share of net profit - Equity method
Share of net profit - Equity method	Note 23. Share of net profit – Equity method The tables below provide the summarized statement of income (loss) for the associate Hepalys. The information disclosed reflects the amounts presented in the financial statements of Hepalys and not the Company's share of those amounts. They have been amended to reflect adjustments made by the Company when using the equity method, in this case fair value adjustments. The tables below provide also the reconciliation between Hepalys' loss and the share of net loss recognized in the Company statement of financial position. ​ ​ ​ ​ ​ For the period ​ ​ started January 1, 2023, (in thousands of euros) ​ to December 31, 2023 General and administrative expenses ​ (1,028) Net operating loss ​ (1,028) Financial income 85 Financial expenses (162) Net financial income (77) Income (expense) tax (6) Net loss for the period (1,111) Exchange difference on translation of foreign operations 255 Items that will not be reclassified subsequently to profit or loss 255 Total comprehensive loss (857) ​ ​ ​ ​ ​ ​ ​ For the period ​ ​ started October 11, 2023, ​ (in thousands of euros) ​ to December 31, 2023 ​ Net loss for the period ​ (879) Exchange difference on translation of foreign operations ​ 231 Items that will not be reclassified subsequently to profit or loss 231 ​ Total comprehensive loss (647) ​ ​ ​ ​ ​ Group's share in % 15 % Share of net loss (134) ​ Elimination of downstream sales (1,881) ​ Share of net loss - Equity method (2,015) ​ ​ In 2023, Hepalys did not generate any sales.

Income tax

Income tax	12 Months Ended
	Dec. 31, 2023
Income tax
Income tax	Note 24. Income tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) ​ 2021 ​ 2022 ​ 2023 Loss before tax (49,271) (54,294) (109,819) ​ Theoretical tax rate 26.5 % 25.0 % 25.0 % Tax benefit at theoretical rate 13,057 13,574 27,455 ​ Tax credits 1,078 1,432 1,794 ​ Permanent differences (497) (733) (497) ​ Temporary differences — — (30) ​ Tax rate differences (80) 55 83 ​ Non recognition of deferred tax assets related to tax losses and temporary differences (13,921) (14,309) (28,930) ​ Impairment loss of deferred tax asset — — (481) ​ Actual income tax benefit (364) 20 (607) ​ of which ​ Current taxes (364) (34) (62) ​ Deferred taxes — 54 (545) ​ Effective tax rate 0.74 % 0.06 % 0.06 % ​ As of December 31, 2023, income tax expenses amount to €0.6 million. The tax expenses mainly relate to the derecognition of deferred tax assets of €0.5 million of Inventiva Inc. (see Note 8. - Deferred tax assets As the imputation of tax benefits on tax losses of Inventiva S.A., at short or mid-term, were considered unlikely due to the growth phase of the Company and regarding the nil projected tax rate as of December 31, 2023, no current taxes were recorded as of December 31, 2023, for Inventiva S.A. ​ Tax credits mainly include the CIR, non-taxable income, classified in other operating income (see Note 19. - Revenues and other income Inventiva S.A. faced a tax loss in the years ended December 31, 2023, 2022 and 2021. As the recoverability of these tax losses is not considered probable in subsequent periods due to the uncertainties inherent in the Company’s business, no deferred tax assets were recognized in the consolidated financial statements as of December 31, 2023, December 31, 2022 nor as of December 31, 2021. Deferred tax assets recognized as of December 31, 2023 are related to Inventiva Inc. (see Note 8. – Deferred tax assets

Basic and diluted loss per shar

Basic and diluted loss per share	12 Months Ended
	Dec. 31, 2023
Basic and diluted loss per share
Basic and diluted loss per share	Note 25. Basic and diluted loss per share Basic earnings (loss) per share are calculated by dividing net income (loss) attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Net loss for the period (49,635) ​ (54,274) (110,426) Weighted average number of shares outstanding used to calculate basic/diluted loss per share (1) 39,168,152 ​ 41,449,732 45,351,799 Basic/diluted loss per share (in €) ​ (1.27) ​ (1.31) ​ (2.43) (1)In accordance with IAS 33.19, basic/diluted earnings per share exclude treasury shares held by the Group as of December 31, 2023. ​ As the Company recorded a loss in 2021, 2022 and 2023, diluted earnings (loss) per share are identical to basic earnings (loss) per share. Share based payment plans (BSAs, BSPCEs, AGAs and PAGUPs) are not included as their effects would be anti-dilutive.

Commitments related to operatio

Commitments related to operational activities	12 Months Ended
	Dec. 31, 2023
Commitments related to operational activities
Commitments related to operational activities	Note 26. Commitments related to operational activities ​ Obligations under the terms of subcontracting agreements In the ordinary course of its business, the Company enters into agreements with CROs for clinical trials, as well as with contract manufacturing organizations (“CMOs”) for clinical and commercial supply manufacturing, commercial and pre-commercial activities, research and development activities and other services and products for operating purposes. The Company’s agreements generally provide for termination with specified periods of advance notice. Such agreements are generally cancellable contracts and are not included in the description of the Company’s contractual obligations and commitments. Commitments given and received ​ ​ ​ ​ December 31, 2023 ​ (in thousands of euros) ​ Total CRO 1 183,366 CMO 5,733 Lease 8,595 Others 23,442 Total commitments given 221,135 Agreements concerning the provision of facilities 260 Total commitments received 260 1 Including CRO with Pharmaceutical Research Associates Group B.V. Contract CRO with Pharmaceutical Research Associates Group B.V. In April 2021, in connection with the NATiV3 Phase III trial in NASH, the Company entered into an agreement, with retroactive effect in January 2021, with PRA, acting as a CRO. The contract aims to support the regulatory approval of lanifibranor in adult patients in Europe and in the United States. The Company also entered into a CRO agreement with PRA in connection with the LEGEND Phase IIa clinical trial, effective January 14, 2022. Under the terms of the agreement, PRA will conduct a clinical trial to evaluate the benefit for patients of the combination of lanifibranor with empagliflozin, an SGLT2 inhibitor, in patients with T2D and non-cirrhotic NASH. The commitment to PRA under this agreement amounts to an aggregate of €8.8 million. On June 26, 2023, in connection with the NATiV3 Phase III trial in NASH, the Company entered into a new amendment to the April 2021 agreement with retroactive effect in January 2021 with PRA. The amendment updates the provisions relating to study information following changes to the trial protocol. In September 2023, the Company entered into a new amendment which amounted the commitment to PRA to €226.6 million including €19.2 million for CTTQ, with a bonus or malus capped at €2.4 million. As of December 31, 2023, the amount remaining to be paid under the contract is €163.3 million.

Related-party transactions

Related-party transactions	12 Months Ended
	Dec. 31, 2023
Related-party transactions
Related-party transactions	Note 27. Related-party transactions On May 25, 2023, the Board of Directors authorized, and the Shareholders’ Meeting approved the decision to grant to Frédéric Cren, as Chief Executive Officer and chairman of the Board of Directors, and Pierre Broqua, as Deputy Chief Executive Officer and director of the Company, severance payment in case of revocation or non-renewal of their mandates or due to a of change of control (excluding revocation or non-renewal for serious misconduct). The amount of the severance payment is capped at 200% of such individual’s salary for the preceding twelve-month period and is subject to performance conditions. These commitments aim to secure the interests of the Company through predefined departure conditions. As of December 31, 2023, no severance payment had accrued. On December 15, 2023, the Board of Directors authorized the Company to enter into an agreement with Pierre Broqua, Deputy Chief Executive Officer, Chief Scientific Officer and director of the Company. In this agreement, Pierre Broqua transferred certain of his intellectual property rights related to patents to the Company against payment of up to €100 thousand, of which €50 thousand are due at the signing date of the agreement and €50 thousand are conditioned to: - the granting of a marketing authorization in the European Union and/or the United States for a product whose compound, indication or manufacturing process is covered by one or more patents; or - the signing by the Company of a license agreement relating to one or more patents in the European Union and/or the United States. This agreement was signed on December 20, 2023. The table below sets out the compensation awarded to the members of the executive team (including the executive and corporate officers) that was recognized in expenses for the years ended December 31, 2021, 2022 and 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Short-term benefits 1,517 ​ 1,897 1,995 Post-employment benefits 92 ​ (14) 101 Other long-term benefits — ​ — — End of contract indemnities — ​ — — Share-based payment 907 ​ 1,077 1,584 Net total 2,516 ​ 2,960 3,680 ​

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2023
Financial risk management
Financial risk management	Note 28. Financial risk management Through its business activities, the Company is exposed to various types of financial risk: foreign exchange risk, credit risk and liquidity risk. Foreign exchange risk On July 15, 2020, the Company closed its IPO for aggregate gross proceeds of $107.7 million and, in 2021, raised funds through its Jefferies ATM program for aggregate gross proceeds of approximately $31.9 million (see Note 1.3 - Significant events of 2022 and 2021 The Company decided not to immediately convert the entire cash proceeds obtained through the capital increase into euros, because some of that cash will be used to cover expenses denominated in USD over the coming years. Nevertheless, the Company incurs the majority of its expenses in euros and some of its USD cash resources may therefore have to be converted into euros in order to meet its business needs, thereby exposing the Company to foreign exchange risk. Prior to May 14, 2021, three foreign currency forward contracts were in place for a total amount of $60 million to protect the value of the Company’s dollar-denominated investments against exchange rate fluctuations between the euro and the dollar. As these contracts have expired, the Company’s financial position could be further affected by adverse fluctuations in the exchange rate between the euro and the dollar, which are difficult to predict. However, the Company has taken the appropriate steps to ensure that hedging instruments can be put in place at any time to protect its activities against exchange rate fluctuations, whenever it deems necessary and in accordance with its investment policy. The table below shows, at December 31, 2023, the sensitivity analysis of the Company’s assets denominated in USD under the reasonable assumption of a variation of 5% based on the exchange rate at the closing date, to which the Company is exposed: ​ ​ ​ ​ ​ ​ 31/12/2023 ​ ​ ​ ​ ​ Fair value as of Impact of a 5% change (in thousands dollars) ​ December 31, 2023 ​ in exchange rate Cash & cash equivalents dominated in US Dollars 4,649 (221) Short-term deposits dominated in US Dollars 2,715 (129) End of period rate at 31/12/23 1.11 1.16 ​ Credit risk Credit risk arises from cash and cash equivalents and deposits with banks and financial institutions, as well as from client exposures. The Company’s exposure to credit risk chiefly stems from to trade receivables. The Company has put in place a system to monitor its receivables and their payment and clearance. Generally, the Company is not exposed to a concentration of credit risk given the outstanding trade receivables balance at each reporting date. Liquidity risk Liquidity risk management aims to ensure that the Company has access to sufficient liquidity and financial resources to be able to meet present and future obligations. The Company prepares short term cash forecasts and annual operating cash flow forecasts as part of its budget procedures. Prudent liquidity risk management involves maintaining sufficient liquidity, having access to financial resources through appropriate credit facilities and being able to unwind market positions. The Company’s operations have consumed substantial amounts of cash since its inception. Developing pharmaceutical product candidates, including conducting clinical trials, is expensive, lengthy and risky, and the Company expects its research and development expenses to increase substantially in connection with its ongoing activities. Accordingly, the Company will continue to require substantial additional capital to continue its clinical development activities and potentially engage in commercialization activities. At the date of these consolidated financial statements, the Company estimates, given its current cost structure and its projected expenditure commitments, to be able to finance its activities until the beginning of the third quarter of 2024 (see Note 3.18 – Going concern Although to finance its activities beyond its cash horizon, the Company is currently actively reviewing potential financing (including debt, equity and equity-linked or other instruments) and strategic options and is discussing these options with potential counterparties and with its financial advisors, it cannot guarantee that it will be able to obtain the necessary financing, through any of the foregoing measures or otherwise, to meet its needs or to obtain funds at acceptable terms and conditions, on a timely basis, or at all, especially taking into account the generally challenging environment for financing of biotech companies. If the Company is unable to obtain funding on a timely basis, it may be required to significantly curtail, delay or discontinue one or more of its research or development programs or the commercialization of any approved product or be unable to expand its operations or otherwise capitalize on its business opportunities, as desired, which would impair the Company’s prospects and business operations. These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern and, therefore, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business. If the Company is unable to continue its operations, it may be required to liquidate its assets and receive consideration less than the value at which its assets are recorded in its financial statements, and investors could then lose all or part of their investment. Interest Rate Risk The Company has a relatively low exposure to interest rate risk. Such exposure primarily involves the money market funds and time deposit accounts. The outstanding bank loans bear interest at a fixed rate, and therefore the Company is not subject to interest rate risk with respect to these loans. Changes in interest rates have a direct impact on the rate of return on these investments and the cash flows generated. The repayment flows of the conditional advances from BPI France are not subject to interest rate risk. Fair Value Measurement - Derivatives Risk The Company is exposed to the fluctuations of the changes in the fair value of the EIB Warrants (derivatives), as the changes on the performance of the underlying can have a significant impact on the Statement of Income (Loss) statement. A 1% change in volatility would impact the fair value of all warrants issued to the EIB by €110 thousand, and consequently net income by the same amount. Inflation Risk Inflation have a general impact on its business in line with overall price increases, increases in the cost of borrowing, and operating in an inflationary economy. The Company have seen a 5-10% price increase in 2023 during negotiations with the vendors, and such higher costs cannot be offset through price increases, as the Company does not have any approved products. It is not possible to predict the timing, strength, or duration of any inflationary period or economic slowdown or its ultimate impact on the Company. If the conditions in the general economy significantly deviate from present levels and continue to deteriorate, it could have a material adverse effect on the business, financial condition, results of operations and growth prospects of the Company.

Events after the reporting date

Events after the reporting date	12 Months Ended
	Dec. 31, 2023
Events after the reporting date
Events after the reporting date	Note 29. Events after the reporting date The Company issued 3,144,654 warrants to EIB in connection with the drawdown of Tranche B On January 4, 2024, the Company issued 3,144,654 additional EIB Warrants to EIB, in accordance with the terms of the 6 th ​ The exercise price of the EIB Warrants issued in connection with Tranche B is equal to €3.95 and corresponds to 95% of the volume-weighted average price of the Company's shares on the regulated market of Euronext Paris during the last trading session preceding the decision to issue the warrants. The EIB Warrants have a maturity of twelve years and shall be exercisable following the earliest to occur of (i) the maturity date of Tranche A (i.e. on December 8, 2026), (ii) a change of control event, (iii) an event of default under the Finance Contract, or (iv) a repayment demand by EIB under the Finance Contract. The EIB Warrants will automatically be deemed null and void if not exercised within the twelve-year period. EIB has a put option which may require the Company to repurchase all or part of the unexercised EIB Warrants then exercisable at their intrinsic value (subject to a cap equal to the amount drawn under the Finance Contract) under certain circumstances (for example, in the event of a change of control or on the maturity date of Tranche A or in the event of default). The Company (or a substitute third party) has a call option to require EIB to sell all shares and other securities of the Company, including the warrants, to the Company, subject to certain terms and conditions. In addition, the Company has a right of first refusal to buy-back all EIB Warrants offered for sale to a third party, subject to certain terms and conditions. On the basis of the 3,144,654 new shares of the Company issuable upon exercise of all the EIB Warrants issued in connection with Tranche B at a price of €3.95 per new share, the Company could potentially receive gross proceeds of up to €12,421,383. There is no assurance that EIB will exercise any or all of the EIB Warrants or that the Company will receive any proceeds from the exercise of the warrants. The exercise ratio of Tranche A warrants has been adjusted following the issue of Tranche B warrants. As of the date of authorization of the issuance of these financial statements, one Tranche A warrant entitles its holder to subscribe for 1.27 ordinary shares in the Company. The Company draws down Tranche B of € 25 million under Finance Contract with the EIB On January 18, 2024, the Company drew down Tranche B of €25 million under the Finance Contract with EIB. After the drawdown of Tranche A in December 2022, the Company had an option to access further €25 million tranche, Tranche B, subject to the achievement of certain conditions precedent. Following the achievement of those conditions, the Company decided to draw on Tranche B. The Company intends to use the proceeds to fund part of the pivotal Phase III clinical trial evaluating lanifibranor in patients with NASH. Tranche B carries a 7% interest capitalized annually and repayment in fine. The repayment is due in January 2027, three years after its disbursement. The disbursement of Tranche B was subject to, among other conditions, (i) the full drawdown of Tranche A, (ii) the receipt by the Company from the date of the Finance Contract of an aggregate amount of at least €70 million (inclusive of the €18 million that was a condition for the disbursement of Tranche A), paid either in exchange for shares of the Company, or through upfront or milestone payments, (iii) an out-licensing, partnership or royalty transaction with an upfront payment of at least €10 million, (iv) operational criteria based on patient enrollment and number of sites activated in the Company’s NATiV3 Phase III clinical trial of lanifibranor in patients with NASH and (v) the Company issuing warrants to EIB (see above - The Company issued 3,144,654 warrants to EIB in connection with the drawdown of Tranche B Tranche B of €25 million was recognized as financial debt at amortized cost, which takes into account the fair value of the derivative instrument (warrants) at inception and the borrowing costs. Treatment-related Suspected Unexpected Serious Adverse Reaction in the first quarter of 2024 On February 15, 2024, the Company announced that an adverse event of elevated aminotransferases in liver tests was reported in a patient enrolled in the trial following a scheduled visit. The patient has been without clinical symptoms throughout the period of observation. This event has been assessed as a treatment-related SUSAR. Other milder cases of elevation of aminotransferases among trial participants have also been reported. The Company decided to voluntarily pause screening and randomization to implement changes to the enrollment criteria to exclude patients diagnosed or with a predisposition to autoimmune liver or thyroid disease and more frequent liver monitoring for patients enrolled in the trial as recommended by the Data Monitoring Committee 6 On March 7, 2024, the Company received the first approval from the central IRB overseeing clinical research in the United States. Clinical sites located in the United States operating under central IRB have meanwhile resumed screening and randomization activities. This is an important milestone as 152 sites of the NATiV3 clinical trial sites are operating under central IRB and have so far randomized over 60% of the patients in the main cohort. The Company expects to progressively obtain the approvals required by local authorities to restart screening and randomization in other countries over the next few weeks. The Company expects the first visit of the last patient to be in the first half of 2024 (versus the first quarter of 2024 as previously announced). No impact on the financial statements is expected. The Company to present the results of LEGEND Phase IIa combination trial with lanifibranor and empagliflozin in patients with MASH/NASH and T2D ​ The LEGEND (Lanifibranor in combination with the SGLT2 inhibitor empagliflozin in patients with NASH and type 2 diabetes) trial has been designed as a multi-center, randomized, 24-week 24-week 6

Accounting Principles (Policies

Accounting Principles (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Principles
Property, plant, and equipment	3.1. Property, plant, and equipment are recognized at historical cost, less depreciation and impairment losses, if any. Depreciation is calculated based on the estimated useful life of assets using the straight-line method. A complete review of the useful lives of acquired non-current assets is performed on an annual basis. Any material adjustments are reflected prospectively in the depreciation schedule. The principal useful lives applied are as follows: ● Buildings: 20 to 25 years ● Fixtures and fittings: 10 years ● Technical facilities: 6 to 10 years ● Equipment and tooling: 6 to 10 years ● General facilities, miscellaneous fixtures, and fittings: 10 years ● Office equipment: 5 years ● IT equipment: 5 years
Lease contracts	3.2. Lease contracts Lease contracts are recognized in accordance with the standard IFRS 16 - Leases ● an asset, representing its right to use the leased asset during the lease term (right-of-use asset); ● a liability, representing the value of the outstanding lease payments (lease liability). For each asset, the discount rate used to calculate the lease liability is determined based on the incremental borrowing rate at the date the Company obtains control of the use of leased asset. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. See Note 13.4 – Lease Liabilities Exemptions Rental expenses for short-term and low-value (less than €5,000) leases continue to be recognized in operating expenses in the Company’s statement of income (loss).
Impairment of non-financial assets	3.3. Impairment of non-financial assets IAS 36 — Impairment of Assets
Derivatives	3.4. Derivatives The Company may have to use derivative financial instruments to hedge its exposure to exchange rate risks (Currency forward sales). The Company has not opted for hedge accounting in accordance with IFRS 9. The derivatives used to hedge exchange rate risks are measured at their fair value in the statement of financial position. All changes in fair value of derivative instruments are recognized in the statement of income (loss) and classified in financial income (loss). The fair values of derivatives are estimated based on commonly used valuation models considering data from active markets. On May 16, 2022, the Company entered into a credit facility with EIB. This financial instrument includes two instruments (i) a host contract representing a debt component (the loans) and (ii) EIB Warrants. The two instruments issued (loans and EIB Warrants) on the date of conclusion are economically and intrinsically linked according to the IFRS 9 criteria, thus the transaction is analyzed as a single hybrid instrument on issue in which there is a host contract representing a debt component (the loans) and a derivative (the EIB Warrants). The financial instrument includes different options too: a BSA call option, a prepayment option of the loan and a BSA put option. The prepayment option is not a separate derivative instrument. The EIB Warrants, put option and call option are each classified as derivatives on own equity instruments, because the “fixed-for-fixed” rule under IAS 32, which provides that derivatives will be classified as equity if they can only be settled by delivering a fixed number of shares in exchange for a fixed amount of cash or another financial asset, is not met (non-cash settlement option which may result in exchanging a variable number of shares, for a variable price). The derivatives are recognized at fair value through profit and loss. The fair value is estimated using the Longstaff Schwartz model which takes into account data from active markets and unobservable data (directly and indirectly) (see Note 3.17 – Use of estimates and judgment The put option can only be exercised in the framework and for the purposes of a cashless exercise of the EIB Warrants, and thus cannot be exercised on a standalone basis. The put option comes into effect upon the issuance of EIB Warrants by the Issuer and remains in effect for the lifetime of the EIB Warrants. In addition, the put option is not independently transferable from the EIB Warrants. Thus, the put option is not bifurcated and it is to be considered as part of the valuation of the EIB Warrants. The call option is exercisable by the Company, under very specific circumstances wherein the value of the EIB Warrants increases due to a takeover bid for the Company. The Company believes it is very unlikely that it will take advantage of exercising the call option. Thus, the call option has been valued at zero and does not require bifurcation. The accounting treatment and impact on the 2022 and 2023 financial years is described in Note 13. - Financial debt .
Cash and cash equivalents	3.5. Cash and cash equivalents include cash on hand and demand deposits, as well as other short-term highly liquid investments with maturities of three months or less, convertible at a known amount, and subject to an insignificant risk of change in value. Short-term bank deposits may be recognized as cash equivalents when they: ● have an original maturity of three months or less, or there are exit options from the short-term bank deposits at any time; ● are readily convertible to a known cash amount; and ● are subject to an insignificant risk of decrease in value. Bank overdrafts are recorded in liabilities in the statement of financial position under short-term debt.
Share-based payments plans	3.6. Since the Company’s inception, the Company put in place compensation plans settled in equity instruments in the form of share warrants awarded to employees ( Bons de souscription de parts de créateur d’entreprise Bons de souscription d’actions Attribution gratuite d’actions Attribution gratuite d'unités de performance In accordance with IFRS 2 — Share-based Payment The values of equity instruments are determined, using option valuation models (in particular, a Black and Scholes model or a Monte-Carlo simulation, depending on whether the plans are subject to market performance condition), on the basis of the value of the underlying equity instrument on the grant date, the volatility, observed on the historical share price of the Company and on a sample of comparable listed companies, and the estimated lifespan associated equity instruments. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet related service and non-market conditions. For share-based payment awards where the payment is based on shares with market conditions at market acquisition, the grant date fair value of the share-based payment is measured to reflect these conditions and there is no adjustment for differences between the expected results and the actual result. Movement, details, and measurement of the fair value of options incorporates the vesting conditions of these plans are described in Note 12.3 - Share warrants plan , Note 12.4 - Bonus share award plans and Note 12.5 – Performance units plans .
Loans and borrowings	3.7. Bank loans are initially recognized at fair value, i.e., the issue proceeds (fair value of the consideration received) net of transaction costs incurred and the fair value at inception date of the derivative instruments of the debt concerned. Borrowings are subsequently measured at amortized cost, calculated using the effective interest rate method. Any difference between initial fair value and repayment value is recognized in the statement of income (loss) over the life of the loan using the effective interest rate method. The effective interest rate is the discount rate at which the present value of all future cash flows (including transaction costs) over the expected life of the loan, or where appropriate, over a shorter period of time, is equal to the loan’s initial carrying amount. The accounting treatment applied to the financing contract entered with the EIB is described in Note 13. – Financial debt
Royalty Certificates liabilities	3.8. Royalty Certificates liabilities The royalty certificates are a contractual obligation for the Company to make cash payments to investors amounting to 2% of future lanifibranor net sales under the condition of the occurrence of such sales, which is an event that is not under the control of the Company. Therefore, they meet the definition of financial liabilities. The Company concluded that they do not include embedded derivatives related to the variability of royalties that are based on future net sales which variable is not specific to a party to the contract. In addition, the Company concluded that the early redemption payment clause was an embedded derivative with a fair value considered to be nil. Consequently there is no embedded derivative to be accounted for separately. (see Note 3.17 – Use of estimates and judgment Royalty Certificates are initially measured at fair value (refer to Note 13. – Financial debt Use of estimates and judgment
Current and deferred tax	3.9. Current and deferred tax Tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the tax authorities, using tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The income tax charge for the period comprises current tax due and the deferred tax charge. The tax expense is recognized in the statement of income (loss) unless it relates to items recorded in other comprehensive income and expense or directly in equity, in which case the tax is also recorded in other comprehensive income and expense or directly in equity. Current taxes The current tax expense is calculated based on taxable profit for the period, using tax rates enacted or substantively enacted at the end of the year in the countries where the Company’s subsidiaries operate and generate taxable income. Deferred taxes Deferred taxes are recognized when there are temporary differences between the carrying amount of assets and liabilities in the Company’s financial statements and the corresponding tax basis used to calculate taxable profit. Deferred taxes are not recognized if they arise from the initial recognition of an asset or liability in a transaction other than a business combination which, at the time of the transaction, does not affect either the accounting or the taxable profit (tax loss). Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are not discounted. Deferred tax assets and liabilities are offset when a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes concern the same entity and the same tax authority. Deferred tax assets Deferred tax assets are recognized for all deductible temporary differences, unused tax losses and unused tax credits to the extent that it is probable that the temporary difference will reverse in the foreseeable future and that taxable profit will be available against which the deductible temporary difference, unused tax losses or unused tax credits can be utilized. It includes the research tax credit granted by the U.S. Government granted by the tax authorities to encourage technical and scientific research by U.S. companies (see Note 8 - Deferred tax assets The recoverable amount of deferred tax assets is reviewed at the end of each reporting period and their carrying amount is reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of the deferred tax assets to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized when it becomes probable that future taxable profit will be available to offset the temporary differences. Deferred tax liabilities Deferred tax liabilities are recognized for all taxable temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint arrangements, except when the parent, investor, joint venturer or joint operator is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.
Provisions for retirement benefit obligations	3.10. Provisions for retirement benefit obligations Retirement benefit obligations The Company operates a defined benefit pension plan. Its obligations in respect of the plan are limited to the lump sum payments upon retirements, which are expensed in the period in which the employees provide the corresponding service. The liability recorded in the statement of financial position in respect of defined benefit pension plans and other post-retirement benefits is the present value of the defined benefit obligation at the statement of financial position date. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting estimated future cash outflows, using the interest rate of high-quality corporate bonds of a currency and term consistent with the currency and term of the pension obligation concerned. In determining the present value and the related current service cost and, where applicable, past service cost, the benefit is attributed to periods of service under the plan’s benefit formula. However, if an employee’s service in later years will lead to a materially higher level of benefit than in earlier years, the benefit is attributed on a straight-line basis from: ● the date when service by the employee first leads to benefits under the plan (whether or not the benefits are conditional on further service) until ● the date when further service by the employee will lead to no material amount of further benefits under the plan, other than from further salary increases. Actuarial gains and losses arise from the effect of changes in assumptions and experience adjustments (i.e., differences between the assumptions used and actual data). These actuarial gains and losses are recognized wholly and immediately in other comprehensive income and expense and are not subsequently reclassified to the statement of income (loss). The net expense in respect of defined benefit obligations recognized in the statement of income (loss) for the period corresponds to: ● The service cost for the period (acquisition of additional rights). ● The interest cost. ● The past service cost. ● The impact of any plan settlements, amendments and curtailments. The discounting effect of the obligation is recognized in net financial income and expenses. Termination benefits Termination benefits are payable when a company terminates an employee’s employment contract before the normal retirement age or when an employee accepts compensation as part of a voluntary redundancy. In the case of termination benefits, the event that gives rise to an obligation is the termination of employment. In the case of an offer made to encourage voluntary redundancy, termination benefits are measured based on the number of employees expected to accept the offer. Profit-sharing and bonus plans The Company recognizes a liability and an expense for profit-sharing and bonus plans based on a formula that takes into consideration the Company’s performance.
Other provisions	3.11. Other provisions In accordance with IAS 37 — Provisions, Contingent Liabilities and Contingent Assets Where there are a number of similar obligations, the probability that an outflow will be required in settlement is determined by considering the class of obligations as a whole. Although the likelihood of outflow for any one item may be small, it may well be probable that some outflow of resources will be needed to settle the class of obligations as a whole. If that is the case, a provision is recognized. The provision represents the best estimate of the amount required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, the amount of a provision corresponds to the present value of the expected costs that the Company considers necessary to settle the obligation. The pre-tax discount rate used reflects current market assessments of the time value of money and specific risks related to the liability. The effect of discounting provisions due to the time value of money is recognized in net financial income and expenses.
Revenue	3.12. Revenue Revenue is recognized in accordance with IFRS 15 — Revenue from Contracts with Customers Under IFRS 15, revenue is recognized when the Company fulfills a performance obligation by providing separate goods or services to a customer, when the customer obtains control of those goods or services. An asset is transferred when the customer obtains control of that asset or service. Under this standard, each contract must be analyzed on a case-by-case basis in order to verify whether it contains performance obligations to customers, and, if applicable, to identify the nature of said obligations in order to appropriately account for the amount that the Company has received or is entitled to receive from customers: - The transfer of the right to use the intellectual property, via a license granted by the Company, as it exists at the time of the transfer, the date of which will determine that of the revenue recognition; - If the license is considered as a right of access to the intellectual property of the Company over the life of the license, the revenue would be recognized over this lifetime; - The supply of products whose revenues would be recognized at the time of transfer of control of the delivered products; - Revenue from variable consideration, such as development or regulatory milestones, and which are recognized when the achievement is highly probable; or - Potential revenue from sales-based or usage-based royalty promised in exchange for a license of intellectual property would not be recognized until the achievement of the milestone or completion of the sale. The accounting treatment of the contracts with customers are detailed in Note 19.1 – Revenues .
Other income	3.13. Research tax credit It includes the research tax credit ( crédit d’impôt recherche Only those companies meeting the EU definition of a small or medium-sized entity (“SME”) are eligible for payment in cash of their CIR (to the extent not used to offset corporate taxes payable) in the year following the request for reimbursement. Inventiva meets the EU definition of an SME and therefore should continue to be eligible for prepayment. Inventiva has been eligible for CIR since inception. The CIR is recognized in “Other income” during the reporting period in which the eligible expenditure is incurred as it meets the definition of government grant as defined in IAS 20 Accounting for Government Grants and Disclosure of Government Assistance Other grants The Company could receive subsidies from several public bodies. The subsidies are related to net income and granted to compensate for incurred expenses. They are therefore recognized in net income as other income for the period in which it becomes reasonably certain that they will be received.
Fair value measurement	3.14. Fair value measurement In the table below, financial instruments are measured at fair value according to a hierarchy comprising three levels of valuation inputs: ● Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. ● Level 2: Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3: Unobservable inputs for the asset or liability. The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss ​ ​ ​ ​ ​ Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt - derivatives ​ — ​ — ​ 10,265 Total liabilities — — 10,265 ​ See Note 13.3 - Derivatives The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ 9,876 Total liabilities — — 9,876 ​ The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits ​ 8,829 ​ — ​ — Total assets 8,829 — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ — Total liabilities — — —
Foreign currency transactions	3.15. Presentation currency and functional currency of financial statements The financial statements of the Company have been prepared in euros, which also constitutes the functional currency of the Company. All amounts mentioned in this annex to the financial statements are expressed in euros, unless otherwise indicated. Translation of foreign currency transactions As of December 31, 2023, foreign currency transactions include bank accounts and term deposits in U.S dollars implemented after the initial public offering on the Nasdaq Global Market in July 2020 (“IPO”). Certain purchasing transactions are carried out in foreign currencies for our studies and clinical trials conducted in the United States and to a lesser degree the United Kingdom, Switzerland, Australia, Canada and Sweden. For the year ended December 31, 2023, these expenses in a foreign currency amounted to approximately €46.8 million, or 37% of the operating expenses, to be compared with €15.9 million, or 21% for the year ended December 31, 2022, and €13.5 million, or 21% for the year ended December 31, 2021. These transactions are translated into euros at the exchange rate prevailing at the date of each transaction. Purchasing transactions in foreign currencies are presented in operating income as they relate to the Company’s ordinary activities. Foreign exchange gains and losses relating to short-term investments and bank accounts in U.S. dollars are presented in financial income (loss).
Segment information	3.16. Segment information The assessment of the entity’s performance and the decisions about resources to be allocated are made by the chief operating decision maker (the CEO), based on the management reporting system of the entity. Only one operating segment arises from the management reporting system: service delivery and clinical stage research, notably into potential therapies in the areas of fibrosis, lysosomal storage disorders and oncology. Thus, the entity’s performance is assessed at the Company level. For the company’s geographical split please refer to tables below: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 770 568 541 USA — — — Intangible assets 770 568 541 France 3,096 6,324 8,402 USA 101 1,062 724 Property, plant and equipment 3,196 7,385 9,125 France 2,442 1,603 9,958 USA — 65 96 Other non-current assets 2,442 1,668 10,055 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 194 125 118 USA 4,000 — — China — 12,054 4,610 Japan — — 12,750 Revenue 4,194 12,179 17,477 ​
Use of estimates and judgment	3.17. The preparation of financial statements in accordance with IFRS Accounting Standards requires: ● Management to make judgments when selecting appropriate assumptions for accounting estimates, which consequently involve a certain degree of uncertainty. ● Management to make estimates and apply assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as information presented for the period. The estimates and judgments, which are updated on an ongoing basis, are based on past experience and other factors, in particular assumptions of future events, deemed reasonable in light of circumstances. The conflict in Ukraine and the state of war between Israel and Hamas have not led to any material changes in the estimates or judgements made by management in the preparation of the Company’s consolidated financial statements. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates, by definition, often differ from actual reported values. Estimates and assumptions that could lead to a significant risk of a material adjustment in the carrying amount of assets and liabilities in the subsequent period are analyzed below. Revenue ● Identifying performance obligations - A promised good or service will need to be recognized separately in revenue if it is distinct as defined in IFRS 15. In determining whether the performance obligation is separate, the Company analyses if (i) the good or service is distinct in absolute terms, i.e. it can be useful to the customer, either on its own or in combination with resources that the customer can obtain separately; and if (ii) the good or service is distinct in the context of the contract, i.e. it can be identified separately from the other goods and services in the contract because there is not a high degree of interdependence or integration between this element and the other goods or services promised in the contract. If either of these two conditions is not met, the good or service is not distinct, and the Company must group it with other promised goods or services until it becomes a distinct group of goods or services. In the context of Biotech industry R&D services are generally capable of being distinct if: - The entity sells the services on their own - i.e. without a related license. This indicates that customers can benefit from the services on their own and they are therefore capable of being distinct; or ​ - The customer can benefit from the services together with the license that has already been transferred to the customer. Readily available resources include goods or services that have already been transferred. If the license is transferred at the beginning of the contract, the services will typically be capable of being distinct. In making this determination, the key analysis is whether the R&D services significantly modify or customize the drug compound so that the intellectual property is significantly different at the end of the arrangement as a result of the services. This may be more frequent in early stages of development when the formula is being developed or when the services are developing an existing technology for a significantly different use. ● Allocation of transaction price to performance obligations - A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To determine the proper revenue recognition method, the Company evaluates whether the contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment; some of the Company's contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. ● Non-cash consideration - To determine the transaction price for contracts in which a customer promises consideration in a form other than cash, an entity shall measure the non-cash consideration (or promise of non-cash consideration) at fair value. If an entity cannot reasonably estimate the fair value of the non-cash consideration, the entity shall measure the consideration indirectly by reference to the stand-alone selling price of the goods or services promised to the customer (or class of customer) in exchange for the consideration. The fair value of the non-cash consideration may vary because of the form of the consideration (for example, a change in the price of a share to which an entity is entitled to receive from a customer). ● Variable consideration - Due to the nature of the work required to be performed on many of the Company's performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. It is common for the collaboration and license agreements to contain variable consideration that can increase the transaction price. Variability in the transaction price arises primarily due to milestone payments obtained following the achievement of specific milestones (e.g., scientific results or regulatory or commercial approvals). The Company includes the related amounts in the transaction price when it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The effect of the increase of the transaction price due to milestones payments is recognized as an adjustment to revenue on a cumulative catch-up basis. ● Revenue recognized over time and input method - Some of the Company's performance obligations are satisfied over time as work progresses, thus revenue is recognized over time, using an input measure of progress as it best depicts the transfer of control to the customers. The application of the IFRS 15 on the current contracts with customers is detailed in Note 19.1 - Revenues CIR The amount of the CIR is determined based on the Company's internal and external expenditure in the reporting period. Only eligible research costs may be included when calculating the CIR. Compliance with the eligibility criteria for expenses when calculating the Tax Credit may require some judgment on the part of the Company. Valuation of share warrants and bonus share award plans Fair value measurements of share warrants and bonus share award granted to employees are based on actuarial models which require the Company to factor certain assumptions into its calculations (see Note 12.3 - Share warrants plan Bonus share award plans Measurement of retirement benefit obligations The Company operates a defined benefit pension plan. Its defined benefit plan obligations are measured in accordance with actuarial calculations based on assumptions such as discount rates, the rate of future salary increases, employee turnover, mortality tables and expected increases in medical costs. The assumptions used are generally reviewed and updated annually. The main assumptions used and the methods chosen to determine them are set out in Note 3.10 - Provisions for retirement benefit obligations Derivatives The Company may have to use derivative financial instruments to hedge its exposure to exchange rate risks (Currency forward sales). The Company has not opted for hedge accounting in accordance with IFRS 9. The fair values of these derivatives are estimated on the basis of commonly used valuation models considering data from active markets. The fair value measurement of the EIB Warrants and the put options related to those EIB Warrants is based on the LongStaff Schwartz option valuation model which makes assumptions about complex and subjective variables. These variables include the value of the Company's shares, the expected volatility of the share price over the lifetime of the instrument, and the present and future behavior of holders of those instruments. There is a high inherent risk of subjectivity when using an option valuation model to measure the fair value of derivative instruments and of the equity instruments in accordance with IAS 32 Financial Instruments - Presentation (“IAS 32”) and IFRS 9. The fair value measurement of the debt component of the EIB Warrants was determined by discounting cash flows at market rate (unobservable input). The valuation approach and assumptions utilized are disclosed in Note 13. - Financial debt Royalty Certificates The value of the purchase options, separate derivative instruments, at inception and subsequent dates is nil and has no impact on the financial statements. The EIR is calculated based on future cash flows, estimated on the basis of development and commercialization plans and budgets approved by the Board of Directors of the Company. If there is a change in the timing or amount of estimated cash flows, then the gross carrying amount of the amortized cost of the financial liability is adjusted in the period of change to reflect the revised actual and estimated cash flows, with a corresponding income or expense being recognized in profit or loss. The revised gross carrying amount of the amortized cost of the financial liability is calculated by discounting the future revised estimated cash flows at the original EIR. Subcontracting Costs Related to Clinical Trials Following the initiation of the Phase III clinical trial evaluating lanifibranor in NASH, the Company has signed contracts with contract research organizations. These CRO contracts are intended to conduct clinical trials, to support regulatory approval of the product in Europe and the United States and to manage pharmacovigilance operations (see Note 26. – Commitments related to operational activities In order to reflect the time that may exist between the time when expenses are incurred by subcontractors in clinical trials and the time they are re-invoiced to Inventiva, the Company estimates a liability for accrued expenses or a prepaid expense to be recorded in the consolidated financial statements at each closing date. For each contract, the subcontracting expenses incurred at the consolidated statement of financial position date are estimated on the basis of information provided at each consolidated statement of financial position date by the CRO, in accordance with the contractual terms, and cost analyses carried out by the Company. This estimate is then compared with the amount of invoices received at the period end date. When the estimated incurred expenses are higher than the invoiced expenses, a provision for accrued expenses is recorded in the consolidated financial statements (see Note 16.2 – Other current liabilities Tax receivables and Other current assets
Going concern	3.18. Going concern From inception, the Company has financed its growth through successive capital increases, debt, collaboration and license agreements and reimbursements of CIR receivables. The Company continues to pursue its research and development activities for its product candidates. The Company has incurred operating losses and negative cash flows from operations since inception due to the innovative nature of the product candidates it is developing, which necessitates a research and development phase spanning multiple years. The Company does not expect to generate revenue from product sales in the near future. With the biopharmaceutical industry's product development phases requiring increasing investments, the Company's financing needs will continue to grow as clinical trials of the Company's drug candidates progress and the Company invests to develop existing and new product candidates. As of December 31, 2023, the Company had €26.9 million of available cash and cash equivalents, consisting of cash and short-term deposit accounts that are liquid and easily convertible within 3 months without penalty or risk of change in value (see Note 11. – Cash and cash equivalents As of December 31, 2023, the Company also had: ● a €0.01 million of short-term deposits, included in “other current assets”, that are considered by the Company as liquid and easily available, and; ● a €9.0 million long-term, two -year deposit forward contract entered into during the first quarter of 2023, included in “other non-current assets ”, but accessible prior to the expiration of the term upon 31 days written notice. Following December 31, 2023, the Company drew down Tranche B of €25.0 million under the Finance Contract with the EIB on January 18, 2024 (described in Note 29. – Events after the reporting date ​ As of the date of authorization of the issuance of these consolidated financial statements, the Company estimates, given its current cost structure and its projected expenditure commitments, that it should have sufficient funds to finance its activities until the beginning of the third quarter of 2024. Accordingly, the Company’s current cash and cash equivalents and the short and long-term deposits will not be sufficient to cover its operating needs for at least the next 12 months. These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern and, therefore, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business. This estimate is based on the Company’s current business plan and excludes (i) other expenses related to the potential development of odiparcil or resulting from any potential in-licensing or acquisition of additional product candidates or technologies, or any associated development the Company may pursue, (ii) any potential milestone payments that may be received or paid by the Company or potential additional financing. The Company may have based this estimate on incorrect assumptions and may have to use its resources sooner than anticipated. In order to finance its activities, the Company needs to raise additional funds, and is currently actively reviewing potential financing (including debt, equity and equity-linked or other instruments) and strategic options and is discussing these options with potential counterparties and with its financial advisors. In particular, the Company may seek to raise additional funds to achieve its development goals for its research and development programs through: ● potential sales of ADSs under the Company’s existing Cowen ATM program, having an aggregate offering price of $58.0 million from time to time, which has a term until August 2, 2024; ● other potential public or private securities offerings; and ● potential strategic transactions such as business development partnerships and/or royalty deals. The Company cannot guarantee that it will be able to obtain the necessary financing, through any of the foregoing measures or otherwise, to meet its needs or to obtain funds at acceptable terms and conditions, on a timely basis, or at all, especially taking into account the generally challenging environment for financing of biotech companies. If the Company is unable to obtain funding on a timely basis, it may be required to significantly curtail, delay or discontinue one or more of its research or development programs or the commercialization of any approved product or be unable to expand its operations or otherwise capitalize on its business opportunities, as desired, which would impair the Company’s prospects and business operations. The consolidated financial statements as of and for the year ended December 31, 2023, have been prepared on a going concern basis assuming the Company will continue to operate for the foreseeable future. As such, they do not include any adjustments related to the amount or classification of assets and liabilities that may be required if the Company were not able to continue as a going concern.

Basis of preparation and stat_2

Basis of preparation and statement of compliance (Tables)	12 Months Ended
	Dec. 31, 2023
Basis of preparation and statement of compliance
Schedule of subsidiaries	As of December 31, 2023, the scope of consolidation consists of two entities, the parent, Inventiva S.A. and its 100% owned subsidiary, Inventiva Inc., for which no non-controlling interest is recognized. ​ ​ ​ ​ ​ ​ ​ ​ ​ Percent of ​ ​ ​ Date of ​ Ownership ​ ​ ​ ​ incorporation ​ Interest ​ Accounting Method INVENTIVA Inc. 01/05/2021 100 % Fully Consolidated ​ ​ The table below shows the contribution of the consolidated entities as of December 31, 2023, 2022 and 2021 in the consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Consolidation Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (107,231) (197) (2,999) (110,426) Total assets 70,304 13,301 (14,045) 69,561 Shareholders’ equity (30,777) 876 (2,130) (32,032) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Consolidation ​ Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (55,173) 691 208 (54,274) Total assets 112,289 8,676 (4,962) 116,004 Shareholders’ equity 44,369 1,111 (5) 45,476 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Consolidation ​ Inventiva (in thousands of euros) ​ Inventiva S.A. ​ Inventiva Inc. ​ adjustments ​ consolidated Net income (loss) (50,113) 382 96 (49,635) Total assets 121,768 4,232 (4,015) 121,985 Shareholders’ equity 88,552 404 (90) 88,866 ● Interests in associates and joint ventures
Schedule of exchange rates	​ ​ ​ ​ ​ ​ ​ ​ Exchange rate (USD per EUR) As of December 31, 2023 ​ As of December 31, 2022 As of December 31, 2021 Average exchange rate for the period 1.0813 ​ 1.0530 ​ 1.1827 Exchange rate at period end 1.1050 ​ 1.0666 ​ 1.1326 ​

Accounting Principles (Tables)

Accounting Principles (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Principles
Schedule of financial assets and liabilities measured at fair value	The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss ​ ​ ​ ​ ​ Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt - derivatives ​ — ​ — ​ 10,265 Total liabilities — — 10,265 ​ See Note 13.3 - Derivatives The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits — — — Total assets — — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ 9,876 Total liabilities — — 9,876 ​ The table below present the financial assets and liabilities of the Company measured at fair value at December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 (in thousands of euros) Level 1 Level 2 Level 3 Financial assets at fair value through profit or loss Derivatives instruments assets ​ — ​ — ​ — Term deposits ​ 8,829 ​ — ​ — Total assets 8,829 — — Financial liabilities at fair value through profit or loss ​ ​ ​ ​ ​ ​ Long-term financial debt – derivatives ​ — ​ — ​ — Total liabilities — — —
Summary of entity's geographical split	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 770 568 541 USA — — — Intangible assets 770 568 541 France 3,096 6,324 8,402 USA 101 1,062 724 Property, plant and equipment 3,196 7,385 9,125 France 2,442 1,603 9,958 USA — 65 96 Other non-current assets 2,442 1,668 10,055 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 France 194 125 118 USA 4,000 — — China — 12,054 4,610 Japan — — 12,750 Revenue 4,194 12,179 17,477

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Assets
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2021 Increases Decreases December 31, 2021 Library of compounds ​ 2,142 — — 2,142 Software ​ 1,533 53 (10) 1,575 Intangible assets, gross ​ 3,674 53 (10) 3,717 Amortization of library of compounds ​ (1,322) (165) — (1,487) Amortization of software ​ (1,417) (53) 10 (1,460) Amortization ​ (2,739) (217) 10 (2,947) Intangible assets, net ​ 935 (165) (1) 770 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2022 Increases Decreases December 31, 2022 Library of compounds 2,142 — — 2,142 Software 1,575 15 — 1,590 Intangible assets, gross 3,717 15 — 3,732 Amortization of library of compounds (1,487) (165) — (1,651) Amortization of software (1,460) (52) — (1,512) Amortization (2,947) (217) — (3,164) Intangible assets, net 770 (202) — 568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2023 Increases Decreases December 31, 2023 Library of compounds 2,142 — ​ — ​ 2,142 Software 1,590 194 ​ — ​ 1,784 Intangible assets, gross 3,732 194 ​ — ​ 3,926 Amortization of library of compounds (1,651) (165) ​ — ​ (1,816) Amortization of software (1,512) (56) ​ — ​ (1,568) Amortization and impairment (3,164) (221) ​ — ​ (3,384) Intangible assets, net 568 (27) ​ — ​ 541

Property, plant, and equipment

Property, plant, and equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, plant, and equipment
Schedule of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2023 Increases Decreases Others 2023 Land 172 — — — 172 Buildings 3,470 — — — 3,470 Technical facilities, equipment and tooling 5,457 210 (87) 24 5,604 Other property, plant and equipment 1,519 38 (44) 24 1,536 Property, plant and equipment in progress 65 98 — (48) 115 Right of use 5,259 3,731 — (46) 8,943 Property, plant and equipment, gross 15,941 4,076 (131) (46) 19,840 Depreciation and impairment of buildings (2,104) (182) — — (2,286) Depreciation and impairment of technical facilities, equipment and tooling (4,446) (317) 86 — (4,676) Depreciation and impairment of other property, plant and equipment (1,216) (99) 44 — (1,271) Depreciation and impairment of right of use (790) (1,681) 0 (8) (2,480) Depreciation and impairment (8,555) (2,280) 130 (8) (10,714) Property, plant and equipment, net 7,386 1,797 (1) (55) 9,125 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) ​ 2022 ​ Increases ​ Decreases ​ Others ​ 2022 Land 172 — — — 172 Buildings 3,407 86 (23) — 3,470 Technical facilities, equipment and tooling 5,118 357 (18) — 5,457 Other property, plant and equipment 1,422 97 — — 1,519 Property, plant and equipment in progress 59 5 — — 65 Right of use ​ 143 ​ 5,109 ​ — ​ 7 ​ 5,259 Property, plant and equipment, gross 10,321 5,655 (41) 7 15,941 Depreciation and impairment of buildings (1,931) (196) 23 — (2,104) Depreciation and impairment of technical facilities, equipment and tooling (4,091) (355) 1 — (4,446) Depreciation and impairment of other property, plant and equipment (1,087) (128) — — (1,216) Depreciation and impairment of right of use (14) (776) — (0) (790) Depreciation and impairment ​ (7,124) ​ (1,455) ​ 24 ​ (0) ​ (8,555) Property, plant and equipment, net 3,196 4,200 (17) 7 7,385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2021 Increases Decreases Others 2021 Land ​ 172 — — — 172 Buildings ​ 3,407 — — — 3,407 Technical facilities, equipment and tooling ​ 4,856 336 (75) — 5,118 Other property, plant and equipment ​ 1,203 223 (4) — 1,422 Property, plant and equipment in progress ​ 137 59 — (137) 59 Right of use ​ 34 143 (34) — 143 Property, plant and equipment, gross ​ 9,810 761 (113) (137) 10,321 Depreciation and impairment of buildings ​ (1,737) (194) — — (1,931) Depreciation and impairment of technical facilities, equipment and tooling ​ (3,782) (384) 75 — (4,091) Depreciation and impairment of other property, plant and equipment ​ (976) (116) 4 — (1,087) Depreciation and impairment of right of use ​ (33) (16) 34 — (14) Depreciation and impairment ​ (6,528) (709) 113 (137) (7,124) Property, plant and equipment, net ​ 3,282 52 — (274) 3,196

Investments accounted for usi_2

Investments accounted for using the equity method (Tables)	12 Months Ended
	Dec. 31, 2023
Investments accounted for using the equity method
Schedule of investment in Hepalys is accounted for using the equity method of accounting	​ ​ ​ ​ ​ ​ ​ ​ December 31, October 11, (in thousands of euros) ​ 2023 ​ 2023 ​ Intangible assets ​ 20,278 ​ 20,656 Total non-current assets 20,278 20,656 ​ Other current assets 44 13 ​ Cash and cash equivalents 1,082 11,569 ​ Total current assets 1,126 11,582 ​ Deferred assets 41 2 ​ Total assets 21,444 32,240 ​ ​ ​ ​ ​ ​ ​ Capital stock 640 5,877 ​ Capital reserve 22,656 17,176 ​ earnings brought forward (178) (176) ​ Net loss for the period (1,111) (232) ​ Treasury Shares (812) 0 ​ Shareholders’ equity 21,194 22,645 ​ Total non-current liabilities — — ​ Trade payables 237 9,590 ​ Other current liabilities 13 6 ​ Total current liabilities 250 9,596 ​ Total equity and liabilities 21,444 32,240 ​ ​ ​ ​ ​ ​ ​ Opening net assets 22,645 — ​ Loss for the period (879) — ​ Other comprehensive income 247 — ​ Capital variations (819) — ​ Closing net assets 21,194 — ​ ​ ​ ​ ​ ​ ​ Group's share in % 15 % 15 % (in thousands of euros) ​ ​ ​ Group's share 3,267 3,406 ​ Elimination of unrealised profit on downstream sales (1,881) — ​ Goodwill 38 — ​ Carrying amount 1,425 3,406 ​ ​

Other non-current assets (Table

Other non-current assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other non current assets
Schedule of other non current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Long‑term deposit accounts ​ 1,745 700 9,000 Advance payments – ​ 689 895 1,047 Accrued income ​ 0 65 0 Security deposits ​ 8 8 8 Other non ‑ current assets ​ 2,442 1,668 10,055

Deferred tax assets (Tables)

Deferred tax assets (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred tax assets.
Schedule of deferred tax assets	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Tax credits — — 225 Deferred tax assets — — 225

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventories
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Laboratory inventories ​ 425 406 426 Inventories write‑down ​ (33) (33) (9) Inventories ​ 392 373 417 ​

Trade receivables, tax receiv_2

Trade receivables, tax receivables and other current assets (Tables)	12 Months Ended
	Dec. 31, 2023
Trade receivables, tax receivables and other current assets
Schedule of trade receivables and others break down	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 3 months or less 4,000 0 ​ 3,807 Between 3 and 6 months — — ​ — Between 6 and 12 months — — ​ — More than 12 months — — ​ — Trade receivables and others 4,000 0 ​ 3,807
Schedule of other current assets and receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 CIR and other research tax credits ​ 4,357 ​ 5,994 ​ 5,333 Other 16 ​ 13 19 Tax receivables 4,373 ​ 6,007 ​ 5,352 Prepaid expenses 7,454 ​ 8,601 ​ 4,656 Short-term deposit accounts ​ 8,829 ​ 1,048 ​ 70 Current accrued income ​ 92 ​ 117 ​ 1,047 Liquidity agreement - Cash ​ 762 ​ 282 ​ 422 VAT receivables ​ 2,828 ​ 3,057 ​ 5,066 Other receivables 294 ​ 162 ​ 435 Other current assets 20,260 ​ 13,267 ​ 11,696 Other current assets and receivables 24,632 ​ 19,274 ​ 17,048

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents
Schedule of cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Other cash equivalents (1) 42,900 ​ 16,798 ​ 17,933 Cash at bank and at hand 43,653 ​ 69,939 ​ 8,985 Cash and cash equivalents 86,553 ​ 86,736 ​ 26,918

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of changes in share capital	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Premiums ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ related to ​ Number of ​ ​ Date Nature of the transactions Share capital share capital shares Nominal value ​ ​ Balance as of 31 December 2020 ​ 386,302 ​ 139,667,602 ​ 38,630,261 ​ 0.01 June 28, 2021 ​ Capital increase by issuance of ordinary shares – Vesting of AGAs by Company employees (AGA 2019-1) ​ 291 ​ — ​ 29,100 ​ 0.01 September 27, 2021 Capital increase by issuance of ordinary shares – (ATM) 20,833 25,556,803 2,083,334 0.01 January 10, 2021 Capital increase by issuance of ordinary shares – (ATM) 1,309 1,615,584 130,856 0.01 January 10, 2021 Transaction costs related to ATM — (1,768,424) — 0.01 ​ Balance as of 31 December 2021 408,735 165,071,565 40,873,551 0.01 June 15, 2022 Capital increase by issue of ordinary shares – (ATM3) 12,606 9,353,504 1,260,618 0.01 June 15, 2022 Transaction costs related to ATM — (539,404) — — ​ Balance as of 31 December 2022 421,341 173,885,665 42,134,169 0.01 August 30, 2023 August 2023 Share Issuance 96,186 30,491,082 9,618,638 0.01 August 30, 2023 Transaction costs related to the capital increase — (2,510,855) — — December 8, 2023 Vesting of bonus shares 3,630 (3,630) 363,000 0.01 Balance as of December 31, 2023 ​ 521,158 201,862,263 52,115,807 0.01
BSPCE and BSA Share Warrants
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of movements in BSPCE and BSA share warrants and Bonus shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, ​ exercisable Type Grant Date (in euros) 2023 Issued Exercised Lapsed 2023 shares BSPCE - Plan 2013 12/13/2013 0.59 8,800 — — (8,800) — — BSPCE - Plan 2021 ​ 04/16/2021 ​ 11.74 ​ 480,000 ​ — ​ — ​ (50,000) ​ 430,000 ​ 430,000 TOTAL BSPCE share warrants 488,800 — — (58,800) 430,000 430,000 BSA - Plan 2017 05/29/2017 6.67 130,000 — — — 130,000 130,000 BSA - Plan 2018 12/14/2018 6.07 116,000 — — — 116,000 116,000 BSA 2019 06/28/2019 2.20 10,000 — — — 10,000 10,000 BSA 2019 bis ​ 03/09/2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 ter ​ 03/09/2020 ​ 3.68 ​ 36,000 ​ — ​ — ​ — ​ 36,000 ​ 36,000 BSA 2021 ​ 04/16/2021 ​ 11.74 ​ 16,000 ​ — ​ — ​ (1,667) ​ 14,333 ​ — BSA 2023 ​ 05/25/2023 ​ 2.51 ​ — ​ 10,000 ​ — ​ — ​ 10,000 ​ — BSA 2023 - 2 ​ 12/15/2023 ​ 3.91 ​ — ​ 20,000 ​ — ​ — ​ 20,000 ​ — TOTAL BSA share warrants 318,000 30,000 — (1,667) 346,333 302,000 Total share warrants ​ ​ ​ ​ 806,800 30,000 — (60,467) 776,333 732,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at January 1, ​ ​ ​ ​ ​ ​ ​ at December 31, ​ shares Type ​ Grant date (in euros) 2022 Issued Exercised Forfeited 2022 exercisable BSPCE — 2013 plan ​ Dec. 13, 2013 0.59 8,800 — — — 8,800 8,800 BSPCE Plan 2021 ​ April 16, 2021 11.74 600,000 — — (120,000) 480,000 — Total BSPCE ​ 608,800 — — (120,000) 488,800 8,800 BSA — 2017 plan ​ May 29, 2017 6.67 130,000 — — — 130,000 130,000 BSA — 2018 plan ​ Dec. 14, 2018 6.07 116,000 — — — 116,000 116,000 BSA — 2019 plan ​ June 28, 2019 ​ 2.20 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Bis ​ March 9, 2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Ter ​ March 9, 2020 3.68 36,000 — — — 36,000 24,000 BSA - Plan 2021-1 ​ April 16, 2021 11.74 20,000 — — (4,000) 16,000 — Total BSA ​ ​ ​ ​ 322,000 ​ — ​ — ​ (4,000) ​ 318,000 ​ 290,000 Total ​ ​ ​ ​ ​ 930,800 ​ — ​ — ​ (124,000) ​ 806,800 ​ 298,800 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise Outstanding ​ ​ ​ Outstanding Number of ​ ​ ​ ​ price ​ at January 1, ​ ​ ​ ​ ​ ​ ​ at December 31, ​ shares Type Grant date (in euros) 2021 Issued Exercised Forfeited 2021 exercisable BSPCE — 2013 plan Dec. 13, 2013 0.59 8,800 — — — 8,800 8,800 BSPCE Plan 2021 ​ April 16, 2021 ​ 11.74 ​ — ​ 600,000 ​ — ​ — ​ 600,000 ​ — Total BSPCE ​ ​ 8,800 600,000 — — 608,800 8,800 BSA — 2017 plan May 29, 2017 6.67 130,000 — — — 130,000 130,000 BSA — 2018 plan Dec. 14, 2018 6.07 116,000 — — — 116,000 116,000 BSA — 2019 plan June 28, 2019 2.20 10,000 — — — 10,000 10,000 BSA 2019 Bis ​ March 9, 2020 ​ 3.68 ​ 10,000 ​ — ​ — ​ — ​ 10,000 ​ 10,000 BSA 2019 Ter March 9, 2020 3.68 36,000 — — — 36,000 12,000 BSA - Plan 2021-1 ​ April 16, 2021 ​ 11.74 ​ — ​ 50,000 ​ — ​ (30,000) ​ 20,000 ​ — Total BSA ​ ​ ​ ​ 302,000 50,000 — (30,000) 322,000 278,000 Total ​ ​ ​ ​ ​ 310,800 ​ 650,000 ​ — ​ (30,000) ​ 930,800 ​ 286,800
BSPCE Share Warrants [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of movements in BSPCE and BSA share warrants and Bonus shares	​ ​ ​ ​ ​ ​ ​ ​ BSPCE 2013-1 BSPCE 2021 Decision of issuance by the Board of Directors 12/13/2013 ​ 04/16/2021 ​ Grant date 12/13/2013 ​ 04/16/2021 ​ Beneficiary 3 employees ​ Executive Directors ​ Number of BSPCE granted 9,027 ​ 600,000 ​ Expiration date 12/13/2023 ​ 03/31/2034 ​ Number of shares per BSPCE 100 ​ 1 ​ Subscription price (€) ​ 58.50 ​ 0 ​ Exercise price (€) ​ 0.585 ​ 11.74 ​ Performance condition ​ No ​ Partially (1) ​ Valuation method used ​ Black and Scholes ​ Monte Carlo ​ Fair value at grant date (€) ​ 19 ​ [5.4 – 5.7] (1) ​ Expected volatility ​ 35 % 64 % Average life (years) ​ 5 ​ 5 ​ Risk-free rate ​ 1.13 % 0.60 % Expected dividends — ​ — ​ (1) The fair value at grant date is different depending on whether the BSPCEs are subject to market performance conditions.
BSA Share warrant [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of movements in BSPCE and BSA share warrants and Bonus shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BSA ​ ​ ​ BSA ​ ​ ​ ​ ​ ​ ​ ​ BSA 2017 2018-1 BSA 2019 2019 Bis BSA 2019 ter BSA 2021 BSA 2023 ​ BSA 2023-2 Decision of issuance by the Board of Directors ​ 05/29/2017 ​ 12/14/2018 06/28/2019 03/09/2020 03/09/2020 ​ 04/16/2021 ​ 05/25/2023 ​ 12/15/2023 Grant date ​ 05/29/2017 ​ 12/14/2018 06/28/2019 03/09/2020 03/09/2020 ​ 04/16/2021 ​ 05/25/2023 ​ 12/15/2023 Beneficiary ​ Directors ​ Service providers Service providers Service providers Service providers ​ Service providers ​ Service providers ​ Service providers Vesting period (year) ​ 3 tranches: 1 year , 2 years and 3 years ​ between 1 and 3 years 1 1 between 1 and 3 years ​ 3 ​ 2.9 years ​ 2.3 years Expiration date ​ 05/29/2027 ​ 12/14/2028 06/28/2029 03/09/2030 03/09/2030 ​ 03/31/2034 ​ 03/31/2036 ​ 03/31/2036 Number of BSA granted ​ 195,000 ​ 126,000 10,000 10,000 36,000 ​ 50,000 ​ 10,000 ​ 20,000 Number of shares per BSA ​ 1 ​ 1 1 1 1 ​ 1 ​ 1 ​ 1 Subscription premium price per share (€) ​ 0.534 ​ 0.48 0.18 0.29 0.29 ​ 2.45 ​ 0.20 ​ 0.31 Exercise price per share (€) ​ 6.675 ​ 6.067 2.20 3.68 3.68 ​ 11.74 ​ 2.51 ​ 3.91 Performance condition ​ No ​ No No No No ​ Yes ​ No ​ No Valuation method ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Black and Scholes ​ Monte Carlo ​ Black and Scholes ​ Black and Scholes Fair value per BSA at grant date (€) ​ 2.47 ​ 1.98 ​ 0.48 ​ 0.90 ​ 0.90 ​ [ 3.0 – 3.2 ] (1) ​ 1.89 ​ 2.67 Expected volatility ​ 40 % 40 % 40 % 40 % 40 % 64 % 65% ​ 62% Average life (years) ​ 6 ​ 6 ​ 5.5 ​ 6 ​ 6 ​ 5 ​ 6.5 ​ 6.2 Risk free rate ​ 0.22 % 0.30 % 0.33 % 0.0 % 0.0 % 0.60 % 2.96% ​ 2.65% Expected dividends ​ — ​ — — — — ​ — ​ — ​ — (1) The fair value at grant date is different depending on whether the BSAs are subject to market performance conditions.
AGA Bonus Share Award Plans Member
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of movements in BSPCE and BSA share warrants and Bonus shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AGA 2021 AGA 2021-bis AGA 2022 ​ AGA 2023 ​ AGA 2023-2 Decision of issuance by the Board of Directors 04/16/2021 12/08/2021 ​ 12/08/2022 ​ 05/25/2023 ​ 12/15/2023 Grant date 04/16/2021 12/08/2021 ​ 12/08/2022 ​ 05/25/2023 ​ 12/15/2023 Beneficiary Employees Employees ​ Employees ​ Executive ​ Employees Vesting period (year) 3 3 ​ 1 ​ 4 ​ 1 Holding period (year) — — ​ 1 ​ 4 ​ 1 Service condition Yes Yes ​ Yes ​ Yes ​ Yes Performance condition Partially (1) Partially (1) ​ No ​ No ​ No Number of AGA granted 466,000 123,000 ​ 373,000 ​ 300,000 ​ 760,000 Number of shares per AGA 1 1 ​ 1 ​ 1 ​ 1 Valuation method used ​ Dual (1) ​ Dual (1) ​ Dual (1) ​ Dual (1) ​ Dual (1) Fair value per AGA at grant date ​ [9.8 – 11.3] (1) ​ [11.4 – 12.2] (1) ​ 4.18 ​ 2.60 ​ 3.9 Expected volatility ​ 64 % 64 % N/A ​ N/A ​ N/A Average life (years) ​ 3 ​ 2.3 ​ N/A ​ N/A ​ N/A Risk-free rate ​ 0.60 % 0.60 % N/A ​ N/A ​ N/A Expected dividends ​ — ​ — ​ – ​ – ​ – Stock price reference ​ N/A ​ N/A ​ N/A ​ N/A ​ N/A Non-transferable discount N/A N/A ​ N/A ​ N/A ​ N/A (1) AGA 2021-1 and AGA 2021-bis plans are partially composed of AGAs subject to a market performance condition. AGAs 2022, AGAs 2023-1 and AGAs 2023-2 are not subject to a market performance condition. Accordingly, AGAs not subject to performance conditions are valued on the basis of the share price less future dividends, discounted at the risk-free rate. AGAs subject to performance conditions are valued using the same method, adjusted by a discount applied to reflect the performance condition. This discount is determined using the “Monte Carlo” analysis. The fair value at the grant date is different depending on whether the AGAs are subject to market performance conditions.
Bonus Share Award Plans [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Schedule of movements in BSPCE and BSA share warrants and Bonus shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ Outstanding ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant date ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, Type Grant Date (in euros) 2023 Granted Vested Lapsed 2023 AGA - Plan 2021 - 1 ​ 04/16/2021 ​ 11.30 ​ 340,800 ​ — ​ — ​ (43,201) ​ 297,599 AGA - Plan 2021 - bis ​ 12/08/2021 ​ 12.20 ​ 76,800 ​ — ​ — ​ (11,585) ​ 65,215 AGA 2022 ​ 12/08/2022 ​ 4.18 ​ 373,000 ​ — ​ (363,000) ​ (10,000) ​ — AGA 2023-1 ​ 05/25/2023 ​ 2.60 ​ — ​ 300,000 ​ — ​ — ​ 300,000 AGA 2023-2 ​ 12/15/2023 ​ 3.90 ​ — ​ 760,000 ​ — ​ (12,000) ​ 748,000 TOTAL free shares ​ ​ ​ ​ ​ 790,600 ​ 1,060,000 ​ (363,000) ​ (76,786) ​ 1,410,814 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant ​ Outstanding ​ ​ ​ ​ ​ ​ ​ at ​ ​ ​ ​ date ​ at January ​ ​ ​ ​ ​ Forfeited/ ​ December 31, Type Grant date (in euros) 1 , 2022 Issued Vested Lapsed 2022 AGA —2021‑1 plan ​ 04/16/21 ​ 11.30 ​ 448,000 ​ — ​ — ​ (107,200) ​ 340,800 AGA —2021‑bis plan ​ 12/08/21 ​ 12.20 ​ 123,000 ​ — ​ — ​ (46,200) ​ 76,800 AGA —2022 plan ​ 12/08/22 ​ 4.18 ​ — ​ 373,000 ​ — ​ — ​ 373,000 Total AGA ​ ​ 571,000 373,000 — (153,400) 790,600 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock price ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ ​ at grant ​ Outstanding ​ ​ ​ ​ ​ ​ ​ at ​ ​ ​ ​ date ​ at January 1, ​ ​ ​ ​ ​ Forfeited / ​ December 31, Type Grant date (in euros) 2021 Issued Vested Lapsed 2021 AGA — 2019-1 plan 08/28/19 2.00 29,100 — (29,100) — — AGA — 2021-1 plan 04/16/21 11.30 — 466,000 — (18,000) 448,000 AGA —2021-bis plan 12/08/21 12.20 — 123,000 — — 123,000 Total AGA 29,100 589,000 (29,100) (18,000) 571,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reference ​ Outstanding ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Number of ​ ​ ​ ​ price ​ at Jan 1, ​ ​ ​ ​ ​ Forfeited / ​ at December 31, ​ exercisable Type Grant Date (in euros) 2023 Issued Exercised Lapsed 2023 shares PAGUP 2023 ​ 05/25/2023 2.60 — 300,000 — — 300,000 — TOTAL PAGUP ​ ​ ​ ​ — 300,000 — — 300,000 —

Financial debt (Tables)

Financial debt (Tables)	12 Months Ended
	Dec. 31, 2023
Financial debt
Schedule of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, (in thousands of euros) 2021 2022 2023 Bank borrowings 9,984 ​ 29,689 27,206 Derivatives instruments ​ — ​ 9,876 ​ 10,265 Accrued interest payable on loans ​ 6 ​ 316 ​ 3,719 Lease liabilities 130 ​ 4,510 6,565 Royalty certificates liabilities ​ 0 ​ 0 ​ 6,327 Total debt 10,119 ​ 44,390 54,082
Schedule of maturity of long-term and short-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 1,244 7,484 1,256 — Derivatives — — — — Accrued interest payable on loans — 6 — — Lease liabilities 38 92 — — Total debt 1,282 7,582 1,256 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 4,474 4,999 17,768 2,448 Derivatives — — 9,876 — Accrued interest payable on loans 100 — 216 — Lease liabilities 1,277 3,233 — — Total debt 5,851 8,232 27,860 2,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 Less than 1 Between 1 and Between 3 and More than (in thousands of euros) ​ year ​ 3 years ​ 5 years ​ 5 years Bank borrowings 2,928 4,872 17,848 1,558 Derivatives — — 10,265 — Accrued interest payable on loans 82 — 3,636 — Lease liabilities 2,298 4,267 — — Royalty certificates liabilities — — — 6,327 Total debt 5,308 9,140 31,749 7,885
Schedule of changes in borrowings	​ ​ ​ ​ (in thousands of euros) ​ January 1, 2021 10,055 Subscription of new leases ​ 143 Repayment of bank borrowings ​ (13) Repayment of lease liabilities ​ (15) Accrued interests ​ (51) December 31, 2021 ​ 10,119 Subscription of state-guaranteed PGE loan ​ 1,780 Subscription of PPR loan 3,560 Subscription of derivatives instruments (2) ​ 9,649 Subscription of bank borrowings (1) (2) ​ 15,400 New lease contracts ​ 5,109 Repayment of bank borrowings ​ (1,033) Repayment of lease liabilities ​ (735) Capitalized interests ​ 308 Change in fair value of derivatives instruments (2) ​ 407 Exchange rate change 6 December 31, 2022 ​ 44,390 New lease contracts ​ 3,706 Issue of royalty certificates (1) ​ 5,100 Repayment of bank borrowings ​ (2,485) Repayment of lease liabilities ​ (1,612) Interests on royalty certificates ​ 1,227 Capitalized interest (2) ​ 3,405 Change in fair value of derivatives instruments (2) ​ 389 Exchange rate change ​ (38) December 31, 2023 54,082 (1) (2) ​ Movements are further detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ carried ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ carried ​ ​ on the ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of ​ on the ​ ​ balance ​ ​ ​ ​ ​ ​ ​ ​ ​ movements ​ balance ​ ​ sheet at ​ ​ ​ Capitalized ​ ​ ​ Fair ​ in ​ sheet on ​ ​ Jan. 1, ​ Additions ​ interest ​ Repayments ​ Value ​ exchange ​ December (in thousands of euros) 2023 (+) (+) (-) Variation rates 31, 2023 Lease liabilities ​ 4,510 ​ 3,706 ​ ​ (1,612) ​ ​ (38) ​ 6,566 PGE SG 2020 (state-guaranteed) ​ 2,926 ​ ​ ​ (830) ​ ​ ​ 2,096 PGE BPI France 2020 (state-guaranteed) ​ 3,094 ​ ​ ​ (825) ​ ​ ​ 2,269 PGE CA 2020 (state-guaranteed) ​ 2,926 ​ ​ ​ (830) ​ ​ ​ 2,096 PPR CA 2022 ​ 1,780 ​ ​ ​ ​ ​ ​ 1,780 PPR SG 2022 1,780 1,780 PGE BPI France 2022 (state-guaranteed) 1,780 1,780 BEI EMPRUNT PART 1 2022 15,400 15,400 DETTE BSA BEI 2022 9,876 389 10,265 Royalty certificates — 5,100 1,227 6,327 Accrual interests 319 — 3,405 3,724 Total Debt 44,390 8,806 4,632 (4,097) 389 (38) 54,082 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt carried ​ ​ Debt carried ​ ​ ​ ​ ​ ​ ​ Effect of ​ on the ​ ​ on the balance ​ ​ ​ ​ ​ ​ ​ movements ​ balance sheet ​ ​ sheet at Jan. 1, ​ Additions ​ Repayments ​ Fair Value ​ in exchange ​ on December (in thousands of euros) 2022 (+) (-) Variation rates 31, 2022 Lease liabilities 130 5,109 (735) — 6 4,510 PGE SG 2020 (state-guaranteed) 3,339 — (413) — — 2,926 PGE BPI France 2020 (state-guaranteed) 3,300 — (206) — — 3,094 PGE CA 2020 (state-guaranteed) 3,339 — (413) — — 2,926 PPR CA 2022 — 1,780 — — — 1,780 PPR SG 2022 — 1,780 — — — 1,780 PGE BPI France 2022 (state-guaranteed) — 1,780 — — — 1,780 BEI EMPRUNT PART 1 2022 — 15,400 — — — 15,400 DETTE BSA BEI 2022 — 9,469 — 407 — 9,876 Accrual interests 11 308 — — — 319 Total Debt 10,119 35,625 (1,767) 407 6 44,390 ​
Schedule of valuation approach for BSA arrangement	​ ​ ​ ​ ​ ​ BSA 2022 Grant date 11/28/2022 ​ Expiration date 11/28/2030 ​ Number of BSA issued 2,266,023 ​ Subscription premium price per share (€) 0.01 ​ Exercise price per share (€) 4.02 ​ Valuation method Longstaff Schwartz ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of November 28, As of December 31, As of December 31, ​ 2022 (Grant Date) 2022 2023 ​ Number of BSA outstanding ​ 2,266,023 ​ 2,266,023 ​ 2,266,023 Number of shares per BSA ​ 1.00 ​ 1.00 ​ 1.20 ​ Stock price (€) 4.13 4.48 4.10 ​ Maturity (years) 12.0 11.9 10.9 ​ Volatility 68 % 68 % 62 % Cap of the put option (k€) 25.0 25.0 25.0 ​ Risk free rate Euribor 6M Euribor 6M Euribor 6M ​ Expected dividends — — — ​ Fair Value (k€) 9,469 9,876 10,266 ​ Unit fair value 4.18 4.36 4.53 ​

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Dec. 31, 2023
Provisions
Schedule of provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ December 31, (in thousands of euros) 2021 Additions Reversals/reclasses 2021 CIR 2013-2015 ​ 1,497 ​ — ​ (1,497) ​ — CIR 2017 ​ 880 ​ — ​ (880) ​ — Long ‑ term provisions 2,377 — (2,377) ​ — Payroll taxes 2016-2018 ​ 130 ​ 51 ​ — ​ 180 Short ‑ term provisions 130 51 — ​ 180 Total Provisions 2,507 51 (2,377) ​ 180 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands of euros) January 1, 2022 Additions Reversals/reclasses December 31, 2022 Long ‑ term provisions — — — — Payroll taxes 2016-2018 180 — (180) — Short ‑ term provisions 180 — (180) — Total Provisions 180 — (180) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, ​ ​ ​ ​ ​ December 31, (in thousands of euros) 2023 Additions Reversals/reclasses 2023 Long ‑ term provisions — — — — Short ‑ term provisions — — — — Total Provisions — — — —

Provisions for retirement ben_2

Provisions for retirement benefit obligations (Tables)	12 Months Ended
	Dec. 31, 2023
Provisions for retirement benefit obligations
Schedule of assumptions used to measure retirement benefit obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, Parameters 2021 2022 2023 Retirement age ​ 65 years 65 years 65 years Payroll taxes ​ 41.41 % 41.41 % 41.41 % Salary growth rate ​ 2.00 % 2.00 % 2.00 % Discount rate ​ 1.00 % 3.70 % 3.20 % Mortality table ​ TGH/TGF 05 ​ TGH/TGF 05 TGH/TGF 05 ​
Schedule of provision recorded in respect of defined benefit schemes at the end of each reporting period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Retirement benefit obligations 1,429 ​ 1,234 1,559 Total obligation 1,429 ​ 1,234 1,559
Schedule of change in the provision recorded in respect of defined benefit schemes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Provision at beginning of period (1,385) ​ (1,429) (1,234) Other changes ​ 75 ​ — ​ — Expense for the period (200) ​ (230) (228) Actuarial gains or losses recognized in other comprehensive income 82 ​ 425 (97) Provision at end of period (1,429) ​ (1,234) (1,559)
Schedule of expense recognized in the statement of income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Service cost for the period (224) ​ (237) (183) Interest cost for the period (5) ​ (14) (46) Benefits for the period 29 ​ 21 — Total (200) ​ (230) (228)
Schedule of actuarial gains and losses recognized in comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Demographic changes (27) ​ 42 (30) Changes in actuarial assumptions 109 ​ 383 (67) Total 82 ​ 425 (97)
Schedule of sensitivity analysis	​ ​ ​ ​ ​ ​ 31/12/2023 ​ In thousands of euros Benefit obligation at 31/12/2023 at 2.95% 1,595 Benefit obligation at 31/12/2023 at 3.20% 1,559 Benefit obligation at 31/12/2023 at 3.45% 1,525 ​ ​ ​ ​ ​ ​ 31/12/2022 ​ In thousands of euros Benefit obligation at 31/12/2022 at 3.45% 1,263 Benefit obligation at 31/12/2022 at 3.70% 1,234 Benefit obligation au 31/12/2022 at 3.95% 1,205 ​ ​ ​ ​ ​ ​ 31/12/2021 ​ In thousands of euros Benefit obligation au 31/12/2021 at 0.75% 1,471 Benefit obligation au 31/12/2021 at 1.00% 1,429 Benefit obligation at 31/12/2021 at 1.25% 1,389 ​

Other current and non-current_2

Other current and non-current liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other current and non-current liabilities
Schedule of other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Employee‑related payables 1,518 ​ 1,866 ​ 1,869 Accrued payroll and other employee‑related taxes 1,234 ​ 1,340 ​ 1,540 VAT payables ​ 879 ​ 2,128 ​ 3,569 Other accrued taxes and employee‑related expenses 178 ​ 140 ​ 164 Other miscellaneous payables 2,979 ​ 12 ​ 23 Other current liabilities 6,789 ​ 5,485 ​ 7,165

Trade payables, short-term co_2

Trade payables, short-term contract liabilities and other current liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Trade payables, short-term contract liabilities and other current liabilities
Schedule of trade payables and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Trade payables ​ 14,602 ​ 19,359 37,679 Short-term contract liabilities ​ — ​ 6 ​ 6 Trade payables and other current liabilities ​ 14,602 ​ 19,364 37,685
Schedule of trade payables break down by payment	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Due in 30 days ​ 14,445 ​ 19,156 24,995 Due in 30-60 days ​ 158 ​ 201 12,684 Due in more than 60 days ​ — ​ 2 — Trade payable ​ 14,602 ​ 19,359 37,679

Financial assets and liabilit_2

Financial assets and liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Financial assets and liabilities
Schedule of financial assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ value through ​ carried at ​ carried at ​ ​ (in thousands of euros) position profit or loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long‑term deposit accounts ​ 9,000 — 9,000 ​ — 9,000 Long-term security deposits ​ 8 ​ — ​ 8 ​ — ​ 8 Advance payment ​ 1,047 ​ — ​ 1,047 ​ — ​ 1,047 Short‑term deposit accounts ​ 70 ​ — ​ 70 ​ — ​ 70 Trade receivables ​ 3,807 — 3,807 ​ — 3,807 Other receivables ​ 857 ​ — ​ 857 ​ — ​ 857 Cash and cash equivalents ​ 26,918 ​ — ​ 26,918 ​ — ​ 26,918 Total assets ​ 41,706 — 41,706 ​ — 41,706 Financial liabilities ​ ​ ​ ​ Long-term debt ​ 32,181 — — ​ 32,181 29,701 Derivative instruments ​ 10,265 ​ 10,265 ​ — ​ — ​ 10,265 Royalty certificates liabilities ​ 6,327 ​ — ​ — ​ 6,327 ​ 9,617 Short‑term debt ​ 5,308 — — ​ 5,308 5,308 Trade payables ​ 37,679 — — ​ 37,679 37,679 Other miscellaneous payables ​ 23 — — ​ 23 23 Total liabilities ​ 91,784 10,265 — ​ 81,518 92,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31,2022 ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ value through ​ carried at ​ carried at ​ ​ (in thousands of euros) position profit or loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term accrued income ​ 65 ​ — ​ 65 ​ — ​ 65 Long-term deposit accounts ​ 700 — 700 ​ — 700 Long-term security deposits ​ 8 — 8 ​ — 8 Advance payment ​ 895 ​ — ​ 895 ​ — ​ 895 Current accrued income ​ 117 ​ — ​ 117 ​ — ​ 117 Short-term deposit accounts ​ 1,048 ​ — ​ 1,048 ​ — ​ 1,048 Other receivables ​ 444 — 444 ​ — 444 Cash and cash equivalents ​ 86,736 — 86,736 ​ — 86,736 Total assets ​ 90,014 — 90,014 ​ — 90,014 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ 28,663 — — ​ 28,663 28,663 Derivative instruments ​ 9,876 ​ 9,876 ​ — ​ — ​ 9,876 Short-term debt ​ 5,851 — — ​ 5,851 5,851 Trade payables ​ 19,359 ​ — ​ — ​ 19,359 ​ 19,359 Other miscellaneous payables ​ 12 ​ — ​ — ​ 12 ​ 12 Total liabilities ​ 63,760 ​ 9,876 ​ — ​ 53,884 ​ 63,760 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31,2021 ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ Book value on ​ assets/liabilities ​ ​ ​ ​ ​ ​ ​ ​ the statement of ​ carried at fair value ​ Financial assets ​ Liabilities ​ ​ ​ ​ financial ​ through profit or ​ carried at ​ carried at ​ ​ (in thousands of euros) position loss amortized cost ​ amortized cost Fair value Financial assets ​ ​ Long-term accrued income ​ 92 — 92 ​ — 92 Long-term deposit accounts ​ 1,745 ​ — ​ 1,745 ​ — ​ 1,745 Long-term security deposits ​ 8 — 8 ​ — 8 Advance payment ​ 689 ​ — ​ 689 ​ — ​ 689 Short-term deposit accounts ​ 8,829 8,829 — ​ — 8,829 Trade receivables ​ 4,000 ​ — ​ 4,000 ​ — ​ 4,000 Other receivables ​ 1,055 — 1,055 ​ — 1,055 Cash and cash equivalents ​ 86,553 — 86,553 ​ — 86,553 Total assets ​ 102,972 8,829 94,143 ​ — 102,972 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ 8,837 — — ​ 8,837 8,837 Short-term debt ​ 1,282 ​ — ​ — ​ 1,282 ​ 1,282 Trade payables ​ 14,602 ​ — ​ — ​ 14,602 ​ 14,602 Other miscellaneous payables ​ 2,979 ​ — ​ — ​ 2,979 ​ 2,979 Total liabilities ​ 27,701 ​ — ​ — ​ 27,701 ​ 27,701 ​

Revenues and other income (Tabl

Revenues and other income (Tables)	12 Months Ended
	Dec. 31, 2023
Revenues and other income
Schedule of revenues and other income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (in thousands of euros) 2021 2022 2023 Revenue 4,194 ​ 12,179 17,477 Total revenues 4,194 ​ 12,179 17,477 Tax credits 4,069 ​ 5,863 5,333 Subsidies 8 ​ 10 9 Other 229 ​ 762 344 Total other income 4,307 ​ 6,635 5,686 Total revenues and other income 8,501 ​ 18,814 23,163

Operating expenses (Tables)

Operating expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Notes to the income statement
schedule of Operating expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ ​ Research and business General and ​ December 31, 2021 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Disposables (1,472) ​ — ​ — ​ (1,472) Energy and liquids (513) ​ — ​ — ​ (513) Patents (543) ​ — ​ — ​ (543) Studies (33,004) ​ — ​ — ​ (33,004) Maintenance (1,017) ​ — ​ — ​ (1,017) Fees (160) ​ (138) ​ (2,746) ​ (3,044) IT systems (744) ​ (9) ​ (52) ​ (806) Support costs (including taxes) — ​ — ​ (782) ​ (782) Personnel costs (9,645) ​ (213) ​ (3,556) ​ (13,413) Depreciation, amortization and provisions (751) ​ — ​ (176) ​ (927) Other (602) ​ (4) ​ (3,844) ​ (4,450) Total operating expenses (48,452) ​ (364) ​ (11,155) ​ (59,971) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2022 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Disposables (1,681) ​ — ​ — ​ (1,681) Energy and liquids (633) ​ — ​ — ​ (633) Patents (510) ​ — ​ — ​ (510) Studies (42,375) ​ — ​ (2) ​ (42,377) Maintenance (995) ​ — ​ — ​ (995) Fees (175) ​ (570) ​ (3,843) ​ (4,587) IT systems (852) ​ (16) ​ (92) ​ (960) Support costs (including taxes) (1) — ​ (1,280) ​ (692) ​ (1,971) Personnel costs (11,149) ​ (219) ​ (3,964) ​ (15,332) Depreciation, amortization and provisions (1,462) ​ — ​ (220) ​ (1,683) Other (637) ​ (499) ​ (4,099) ​ (5,234) Total operating expenses (60,469) ​ (2,583) ​ (12,912) ​ (75,965) (1) In November 2022, the Chinese government levied a withholding tax corresponding to 10% of the amount paid by CTTQ to the Company; €1.3 million. Companies subject to withholding tax in China are allowed to consider the amount paid as a tax credit in France, as there is a tax treaty between the two countries. The credit is chargeable only to the current financial year. As the Company is loss-making, the amount of withholding tax is recognized as a tax expense (not tax deductible). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2023 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Disposables (1,799) ​ — ​ — ​ (1,799) Energy and liquids (900) ​ — ​ — ​ (900) Patents (551) ​ — ​ — ​ (551) Studies (88,162) ​ — ​ — ​ (88,162) Maintenance (1,017) ​ — ​ — ​ (1,017) Fees (135) ​ (215) ​ (4,084) ​ (4,434) IT systems (845) ​ (16) ​ (90) ​ (951) Support costs (including taxes) (1) 0 ​ (473) ​ (767) ​ (1,240) Personnel costs (13,568) ​ (224) ​ (4,743) ​ (18,535) Depreciation, amortization and provisions (2,317) ​ — ​ (209) ​ (2,527) Other (719) ​ (1,051) ​ (3,944) ​ (5,714) Total operating expenses (110,012) ​ (1,980) ​ (13,837) ​ (125,828) ​
Schedule of personnel costs and headcount	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2021 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) ​ expenses ​ expenses ​ expenses ​ Total Wages, salaries and similar costs (6,031) ​ (199) ​ (1,867) ​ (8,097) Payroll taxes (2,173) ​ — ​ (838) ​ (3,010) Provisions for retirement benefit obligations (148) ​ — ​ (68) ​ (216) Share‑based compensation expense (1,293) ​ (13) ​ (783) ​ (2,089) Total personnel costs (9,645) ​ (213) ​ (3,556) ​ (13,413) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2022 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Wages, salaries and similar costs (7,382) ​ (190) ​ (2,242) ​ (9,814) Payroll taxes (2,213) ​ (16) ​ (841) ​ (3,069) Provisions for retirement benefit obligations (157) ​ — ​ (73) ​ (231) Share‑based compensation expense (1) (1,397) ​ (13) ​ (808) ​ (2,218) Total personnel costs (11,149) ​ (219) ​ (3,964) ​ (15,332) (1)The recruitment of patients for the NATiV3 Phase III clinical trial being one of the performance conditions for the allocation of securities giving access to the capital, the delay during the third quarter of 2022 led to a recalculation of the IFRS 2 charge. The expense for the year includes a reversal of €0.8 million of the expense as of December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketing — ​ ​ ​ ​ Research and ​ business ​ General and ​ ​ December 31, 2023 ​ development ​ development ​ administrative ​ ​ (in thousands of euros) expenses expenses expenses Total Wages, salaries and similar costs (8,376) ​ (181) ​ (2,450) ​ (11,007) Payroll taxes (2,394) ​ (19) ​ (963) ​ (3,376) Provisions for retirement benefit obligations (124) ​ — ​ (58) ​ (183) Share-based compensation expense (2,673) ​ (25) ​ (1,272) ​ (3,969) Total personnel costs (13,568) ​ (224) ​ (4,743) ​ (18,535)

Other operating income and ex_2

Other operating income and expenses - (Tables)	12 Months Ended
	Dec. 31, 2023
Other operating income and expenses
Schedule of other operating income and expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Proceeds - Disposals of fixed assets ​ 9 ​ — ​ — Reversal of provisions - CIR 2013-2015 ​ 2,377 ​ — ​ — Reversal of provisions - tax litigation ​ 1,497 ​ 180 ​ — Reversal of provisions - AMR penalties ​ 880 ​ 114 ​ — Reversal of impairment on the carry back receivable ​ 333 ​ — ​ — Total other operating income 2,720 ​ 294 — Disposals of assets ​ — ​ (9) ​ — Provision for risk on payroll taxes (51) ​ — — Accrued expenses to be paid to the tax authorities - CIR 2013 to 2015 ​ (1,584) ​ — ​ — Late payment interest on CIR 2013-2015 ​ — ​ (123) ​ — Waiver of CIR 2017 claim ​ (640) ​ — ​ — CIR provision (137) ​ — — Transaction costs (952) ​ (121) (44) Total other operating expenses (3,364) ​ (254) (44) Other operating income (expenses) (644) ​ 40 (44)

Financial income and expenses (

Financial income and expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Financial income and expenses
Schedule of financial income and expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Income from cash equivalents 57 ​ 390 ​ 991 Foreign exchange gains 5,421 ​ 4,532 ​ 797 Total financial income 5,478 ​ 4,923 ​ 1,788 Interest cost (138) ​ (584) ​ (5,178) Foreign exchange losses ​ (1,842) ​ (1,068) ​ (1,269) Losses on fair value variation (651) ​ (407) ​ (389) Other financial expenses (5) ​ (47) ​ (46) Total financial expenses (2,635) ​ (2,107) ​ (6,882) Net financial income 2,842 ​ 2,816 ​ (5,095)

Share of net profit - Equity _2

Share of net profit - Equity method (Tables)	12 Months Ended
	Dec. 31, 2023
Share of net profit - Equity method
Schedule of share of net profit - Equity method	​ ​ ​ ​ ​ For the period ​ ​ started January 1, 2023, (in thousands of euros) ​ to December 31, 2023 General and administrative expenses ​ (1,028) Net operating loss ​ (1,028) Financial income 85 Financial expenses (162) Net financial income (77) Income (expense) tax (6) Net loss for the period (1,111) Exchange difference on translation of foreign operations 255 Items that will not be reclassified subsequently to profit or loss 255 Total comprehensive loss (857) ​ ​ ​ ​ ​ ​ ​ For the period ​ ​ started October 11, 2023, ​ (in thousands of euros) ​ to December 31, 2023 ​ Net loss for the period ​ (879) Exchange difference on translation of foreign operations ​ 231 Items that will not be reclassified subsequently to profit or loss 231 ​ Total comprehensive loss (647) ​ ​ ​ ​ ​ Group's share in % 15 % Share of net loss (134) ​ Elimination of downstream sales (1,881) ​ Share of net loss - Equity method (2,015) ​

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income tax
Schedule of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) ​ 2021 ​ 2022 ​ 2023 Loss before tax (49,271) (54,294) (109,819) ​ Theoretical tax rate 26.5 % 25.0 % 25.0 % Tax benefit at theoretical rate 13,057 13,574 27,455 ​ Tax credits 1,078 1,432 1,794 ​ Permanent differences (497) (733) (497) ​ Temporary differences — — (30) ​ Tax rate differences (80) 55 83 ​ Non recognition of deferred tax assets related to tax losses and temporary differences (13,921) (14,309) (28,930) ​ Impairment loss of deferred tax asset — — (481) ​ Actual income tax benefit (364) 20 (607) ​ of which ​ Current taxes (364) (34) (62) ​ Deferred taxes — 54 (545) ​ Effective tax rate 0.74 % 0.06 % 0.06 %

Basic and diluted loss per sh_2

Basic and diluted loss per share (Tables)	12 Months Ended
	Dec. 31, 2023
Basic and diluted loss per share
Schedule of basic and diluted loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Net loss for the period (49,635) ​ (54,274) (110,426) Weighted average number of shares outstanding used to calculate basic/diluted loss per share (1) 39,168,152 ​ 41,449,732 45,351,799 Basic/diluted loss per share (in €) ​ (1.27) ​ (1.31) ​ (2.43) (1)In accordance with IAS 33.19, basic/diluted earnings per share exclude treasury shares held by the Group as of December 31, 2023.

Commitments related to operat_2

Commitments related to operational activities (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments related to operational activities
Schedule of contractual obligations and commitments	​ ​ ​ ​ December 31, 2023 ​ (in thousands of euros) ​ Total CRO 1 183,366 CMO 5,733 Lease 8,595 Others 23,442 Total commitments given 221,135 Agreements concerning the provision of facilities 260 Total commitments received 260 1 Including CRO with Pharmaceutical Research Associates Group B.V.

Related-party transactions (Tab

Related-party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related-party transactions
Schedule of transactions with key management personnel	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in thousands of euros) 2021 2022 2023 Short-term benefits 1,517 ​ 1,897 1,995 Post-employment benefits 92 ​ (14) 101 Other long-term benefits — ​ — — End of contract indemnities — ​ — — Share-based payment 907 ​ 1,077 1,584 Net total 2,516 ​ 2,960 3,680 ​

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
	Dec. 31, 2023
Financial risk management
Schedule of sensitivity analysis of the company's assets	​ ​ ​ ​ ​ ​ 31/12/2023 ​ ​ ​ ​ ​ Fair value as of Impact of a 5% change (in thousands dollars) ​ December 31, 2023 ​ in exchange rate Cash & cash equivalents dominated in US Dollars 4,649 (221) Short-term deposits dominated in US Dollars 2,715 (129) End of period rate at 31/12/23 1.11 1.16

Company information - (Details)

Company information - (Details) € / shares in Units, € in Thousands, $ in Millions																			1 Months Ended						3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2023 EUR (€) $ / €	Oct. 18, 2023 EUR (€)	Oct. 18, 2023 USD ($)	Oct. 11, 2023 EUR (€) shares ¥ / shares	Oct. 11, 2023 EUR (€) shares € / shares	Sep. 29, 2023 USD ($)	Sep. 28, 2023 USD ($)	Sep. 26, 2023 ¥ / shares shares	Sep. 26, 2023 € / shares shares	Sep. 20, 2023 USD ($)	Sep. 20, 2023 EUR (€) ¥ / shares	Sep. 20, 2023 EUR (€) € / shares	Jul. 27, 2023 country	Jun. 26, 2023 EUR (€)	Jun. 13, 2023 g	Nov. 10, 2022 EUR (€)	Aug. 03, 2022	Aug. 02, 2021 USD ($)	Dec. 31, 2023 EUR (€) $ / €	Nov. 30, 2023 EUR (€)	Nov. 30, 2023 USD ($)	Jan. 31, 2023	Feb. 28, 2022 USD ($)	Apr. 30, 2021 EUR (€)	Dec. 31, 2023 EUR (€) $ / €	Dec. 31, 2021 EUR (€) $ / €	Dec. 31, 2023 EUR (€) $ / €	Dec. 31, 2022 EUR (€) $ / €	Dec. 31, 2021 EUR (€) $ / €	Jan. 18, 2024 EUR (€)	Dec. 31, 2023 USD ($) $ / €	Dec. 29, 2023 $ / €	Sep. 20, 2023 USD ($)	Jul. 19, 2023 $ / €	May 22, 2023 $ / €	Feb. 21, 2023 EUR (€) item	Sep. 22, 2022 USD ($)	May 16, 2022 EUR (€)
Collaborative Arrangements
Research and development expenses																											€ 110,012	€ 60,469	€ 48,452
Exchange rate | $ / €	1.1050																		1.1050						1.1050	1.1326	1.1050	1.0666	1.1326		1.1050	1.080		1.082
Revenues																											€ 17,477	€ 12,179	€ 4,194
Revenues																											17,477	12,179	4,194
Carrying value	€ 1,425																		€ 1,425						€ 1,425		1,425
Total amount of loan																														€ 25,000
Issue of equity																											€ 30,587	9,366	€ 25,426
Hepalys Pharma, Inc
Collaborative Arrangements
Capital increase | $						$ 13
JAPAN
Collaborative Arrangements
Percentage of population suffering from NASH	2.70%																		2.70%						2.70%		2.70%				2.70%
Revenues																											€ 12,750
KOREA, REPUBLIC OF
Collaborative Arrangements
Percentage of patients with significant fibrosis	15%																		15%						15%		15%				15%
China
Collaborative Arrangements
Revenues																											€ 4,610	12,054
Hepalys Pharma, Inc
Collaborative Arrangements
Carrying value	€ 1,425			€ 3,406	€ 3,406														€ 1,425						€ 1,425		€ 1,425
Proportion of ownership interest in associate	15%			15%	15%	15%													15%						15%		15%
Finance contract with EIB
Collaborative Arrangements
Total amount of loan																																						€ 50,000
Finance contract with EIB, second tranche (Tranche B)
Collaborative Arrangements
Total amount of loan																												25,000
Licensing agreement with Hepalys
Collaborative Arrangements
Upfront payment receivable	€ 4,300										€ 9,500	€ 9,500							€ 4,300						€ 4,300		€ 4,300
Milestone payment receivable | $																															$ 4.7
Upfront payment received | $										$ 10
Maximum milestone payments receivable | $			$ 231
Service contract with Avant Sante
Collaborative Arrangements
Number of active clinical sites in NATiV3 trial | item																																				10
Number of subjects randomized | item																																				120
Estimated amount payable																																				€ 14,700
Payment for services rendered																											€ 2,800
Maximum | KOREA, REPUBLIC OF
Collaborative Arrangements
Percentage of population suffering from NASH	5.20%																		5.20%						5.20%		5.20%				5.20%
Contract CRO with Pharmaceutical Research Associates B.V.
Collaborative Arrangements
Commitments amount payable for services received under contracts														€ 207,000										€ 223,800
Term of payments for services rendered under contract																7 years
Contract CRO with Pharmaceutical Research Associates B.V. | Maximum
Collaborative Arrangements
Commitments amount payable for services received under contracts																€ 223,800
Licensing and collaboration agreement with CTTQ
Collaborative Arrangements
Upfront payment receivable | $																																					$ 12
Exchange rate | $ / €																																1.080		1.009	1.082
Revenues																											€ 4,610	€ 12,100
Milestone payments received																											4,300
Service agreement with Summit Clinical Services LLC | Minimum
Collaborative Arrangements
Commitments amount payable for services received under contracts | $																							$ 4.4
Licensing agreement with Hepalys
Collaborative Arrangements
Upfront payment receivable | $																																	$ 10
Milestone payment receivable | $			231
Upfront payment received		€ 9,500	$ 10																								9,500
Revenues																				€ 12,700							€ 12,750
Licensing agreement with Hepalys | Hepalys Pharma, Inc
Collaborative Arrangements
Upfront payment receivable											€ 9,300	€ 9,300																					$ 10
Revenue from upfront payments																				9,300	$ 10
Catalys Option Agreement | Hepalys Pharma, Inc
Collaborative Arrangements
Percent of acquisition								30%	30%		30%	30%																					30%
Revenue from recognition of fair value of shares acquired																				€ 3,400	$ 3.6
Option exercised to buy ordinary shares | shares				1,500,000	1,500,000
Purchase of interests in investments accounted for using equity method, price per share | (per share)					€ 1.90			¥ 300	€ 1.90		€ 300	€ 1.90
Number of shares acquired in associate | shares				1,500,000	1,500,000			1,500,000	1,500,000
Catalys Option Agreement | Hepalys Pharma, Inc
Collaborative Arrangements
Purchase of interests in investments accounted for using equity method, price per share | ¥ / shares				€ 300
Catalys Option Agreement | Hepalys Pharma, Inc | Hepalys Pharma, Inc
Collaborative Arrangements
Purchase of interests in investments accounted for using equity method, price per share | € / shares									€ 1.90
NATiV3 Phase III trial of lanifibranor in non-cirrhotic NASH
Collaborative Arrangements
Maximum duration of Phase III trial													840 days									840 days						7 years
Number of Biopsies Under the Phase III trial													2									2						3
Number of weeks under the active treatment extension study													336 days									336 days
Number of countries in which the Phase III trial has been approved | country													24
Number of patients in study																	63
Treatment period under study																	168 days
Phase II clinical trial evaluating lanifibranor in patients with T2D and nonalcoholic fatty liver disease
Collaborative Arrangements
Demonstrated reduction of hepatic fat measured by proton magnetic resonance spectroscopy															44%
Duration of clinical trial															168 days
Daily dose of lanifibranor in trial | g															0.800
Phase II clinical trial evaluating lanifibranor in patients with T2D and nonalcoholic fatty liver disease | Minimum
Collaborative Arrangements
Percentage of liver triglyceride reduction achieved in a higher proportion of patients															30%
Collaboration agreement with AbbVie
Collaborative Arrangements
Revenue from milestone payments																										€ 4,000
Cowen ATM program
Collaborative Arrangements
Maximum proceeds from at the market program | $							$ 58
Jefferies ATM program
Collaborative Arrangements
Maximum proceeds from at the market program | $																		$ 100

Company information - CTTQ and

Company information - CTTQ and Share-based payments (Details) € / shares in Units, $ in Millions																										1 Months Ended		12 Months Ended
	Jan. 18, 2024 EUR (€) shares	Jan. 04, 2024 shares	Dec. 29, 2023 EUR (€) $ / €	Dec. 29, 2023 USD ($) $ / €	Dec. 15, 2023 EUR (€) shares € / shares	Dec. 15, 2023 EUR (€) € / shares	Dec. 12, 2023 EUR (€)	Dec. 12, 2023 USD ($)	Jul. 19, 2023 EUR (€) $ / €	Jul. 19, 2023 USD ($) $ / €	Jun. 26, 2023 EUR (€)	May 25, 2023 EUR (€) shares € / shares	May 25, 2023 EUR (€) € / shares shares	May 25, 2023 EUR (€) item € / shares shares	May 22, 2023 EUR (€) $ / €	May 22, 2023 USD ($) $ / €	Dec. 08, 2022 EUR (€)	Nov. 28, 2022 shares	Nov. 10, 2022 EUR (€)	Nov. 04, 2022 EUR (€)	Nov. 04, 2022 USD ($)	Sep. 28, 2022 EUR (€)	Sep. 28, 2022 USD ($)	Apr. 16, 2021 EUR (€) shares	Apr. 16, 2021 EUR (€)	Feb. 28, 2022 USD ($)	Apr. 30, 2021 EUR (€)	Dec. 31, 2023 EUR (€) $ / € € / shares shares	Dec. 31, 2022 EUR (€) $ / €	Mar. 28, 2024 shares	Sep. 30, 2023 EUR (€)	Aug. 31, 2023 € / shares	Jul. 01, 2022 € / shares shares	Dec. 31, 2021 $ / €
Collaborative Arrangements
Milestone payment received			€ 2,600,000						€ 1,700,000
Amount invoiced to counterparty for additional payment							€ 100,000								€ 100,000
Amount received attributable to withholding taxes							2,800,000								1,800,000					€ 1,300,000
Loan obtained																													€ 30,209,000
Amount invoiced to counterparty for milestone payment							2,900,000								1,900,000
Amount received on licensing arrangements after deduction of withholding taxes			€ 300,000						€ 200,000
Exchange rate | $ / €			1.080	1.080					1.082	1.082																		1.1050	1.0666					1.1326
Subscription price | € / shares																																€ 3.18
Par value of share | € / shares																												€ 0.01
Finance contract with EIB, first tranche (Tranche A)
Collaborative Arrangements
Loan obtained																	€ 25,000,000
Drawdown of borrowings [Member] | Finance contract with EIB
Collaborative Arrangements
Loan obtained	€ 25,000,000
Drawdown of borrowings [Member] | Finance contract with EIB, Tranche B
Collaborative Arrangements
Loan obtained	€ 25,000,000
Number of warrants issued | shares	3,144,654
Issuance of warrants | Finance contract with EIB, Tranche B
Collaborative Arrangements
Number of warrants issued | shares		3,144,654
Licensing and collaboration agreement with CTTQ
Collaborative Arrangements
Milestone payment received							2,900,000	$ 3.2							1,900,000	$ 2.1						€ 12,800,000	$ 12.6
Amount invoiced to counterparty for additional payment							100,000	0.2							100,000	0.1						12,100,000	0.6
Amount received attributable to withholding taxes			€ 300,000	$ 0.3					€ 200,000	$ 0.2						0.2					$ 1.3							€ 500,000
Amount invoiced to counterparty for milestone payment							€ 2,800,000	$ 3							€ 1,800,000	$ 2						€ 600,000	$ 12
Amount received on licensing arrangements				$ 2.8						$ 1.9										€ 11,500,000	$ 11.4
Amount received on licensing arrangements after deduction of withholding taxes			€ 2,600,000						€ 1,700,000
Bonus or malus maximum amount																															€ 2,400,000
Exchange rate | $ / €			1.080	1.080					1.009	1.009					1.082	1.082
Contract CRO with Pharmaceutical Research Associates B.V.
Collaborative Arrangements
Bonus or malus maximum amount											€ 2,400,000																€ 3,400,000
Commitments amount payable for services received under contracts											€ 207,000,000																€ 223,800,000
Service agreement with Summit Clinical Services LLC
Collaborative Arrangements
Incremental amount committed to pay | $																										$ 1.6
LEGEND and NATiV3 Phase III trial, pharmaceutical research associates group B.V. agreement
Collaborative Arrangements
Estimated amount payable																												€ 163,300,000
Warrant agreement with the European Investment Bank
Collaborative Arrangements
Subscription price | € / shares																																	€ 0.01
Number of shares per warrant | shares																																	1
Number of warrants issued | shares																		2,266,023										2,266,023
Warrant agreement with the European Investment Bank | Issuance of warrants | Finance contract with EIB, first tranche (Tranche A)
Collaborative Arrangements
Number of shares per warrant | shares																														1.27
Minimum | Service agreement with Summit Clinical Services LLC
Collaborative Arrangements
Commitments amount payable for services received under contracts | $																										$ 4.4
Maximum | Contract CRO with Pharmaceutical Research Associates B.V.
Collaborative Arrangements
Commitments amount payable for services received under contracts																			€ 223,800,000
BSA 2023 plan
Collaborative Arrangements
Number of equity instruments granted														10,000														10,000
Number of shares per warrant | shares												1	1	1
Fair value per AGA at grant date												€ 1.89	€ 1.89	€ 1.89
BSA 2023 plan | David Nikodem
Collaborative Arrangements
Number of equity instruments granted												10,000		10,000
Subscription price | € / shares												€ 0.20	€ 0.20	€ 0.20														€ 0.20
AGA Plan 2023-1
Collaborative Arrangements
Number of equity instruments granted													300,000															300,000
Fair value per AGA at grant date												€ 2.60	€ 2.60	€ 2.60
AGA Plan 2023-1 | Pierre Broqua
Collaborative Arrangements
Number of equity instruments granted | shares												300,000
PAGUP 2023
Collaborative Arrangements
Number of equity instruments granted													300,000															300,000
Fair value per AGA at grant date												€ 2.60	€ 2.60	€ 2.60
PAGUP 2023 | Frederic Cren
Collaborative Arrangements
Number of equity instruments granted | shares												300,000
AGA 2023-2
Collaborative Arrangements
Number of equity instruments granted					760,000	760,000																						760,000
Fair value per AGA at grant date					€ 3.9	€ 3.9
BSA 2023-2 plan | David Nikodem
Collaborative Arrangements
Number of equity instruments granted | shares					20,000
Subscription price | € / shares					€ 0.31	€ 0.31
Warrants, exercise price | € / shares					€ 3.91	€ 3.91
BSPCE 2021
Collaborative Arrangements
Number of equity instruments granted | shares																								600,000
AGA 2021
Collaborative Arrangements
Number of equity instruments granted																								466,000	466,000
AGA 2021 | Minimum
Collaborative Arrangements
Fair value per AGA at grant date																								€ 9.8	€ 9.8
AGA 2021 | Maximum
Collaborative Arrangements
Fair value per AGA at grant date																								€ 11.3	€ 11.3
BSA 2021
Collaborative Arrangements
Number of equity instruments granted | shares																								50,000

Company information - License a

Company information - License and collaboration agreement with CTTQ (Details) € in Millions, $ in Millions													12 Months Ended
	Dec. 29, 2023 USD ($) $ / €	Dec. 29, 2023 EUR (€) $ / €	Dec. 12, 2023 USD ($)	Dec. 12, 2023 EUR (€)	Jul. 19, 2023 USD ($) $ / €	Jul. 19, 2023 EUR (€) $ / €	May 22, 2023 USD ($) $ / €	May 22, 2023 EUR (€) $ / €	Nov. 04, 2022 USD ($)	Nov. 04, 2022 EUR (€)	Sep. 28, 2022 USD ($)	Sep. 28, 2022 EUR (€)	Dec. 31, 2023 EUR (€) $ / €	Dec. 31, 2022 $ / €	Sep. 22, 2022 USD ($)	Dec. 31, 2021 $ / €
Collaborative Arrangements
Amount invoiced to counterparty		€ 2.6				€ 1.7
Amount invoiced to counterparty for milestone payment				€ 2.9				€ 1.9
Amount invoiced to counterparty for additional payment				0.1				0.1
Amount received attributable to withholding taxes				2.8				1.8		€ 1.3
Exchange rate | $ / €	1.080	1.080			1.082	1.082							1.1050	1.0666		1.1326
Licensing and collaboration agreement with CTTQ
Collaborative Arrangements
Amount invoiced to counterparty			$ 3.2	2.9			$ 2.1	1.9			$ 12.6	€ 12.8
Amount invoiced to counterparty for milestone payment			3	2.8			2	1.8			12	0.6
Amount invoiced to counterparty for additional payment			$ 0.2	€ 0.1			0.1	€ 0.1			$ 0.6	€ 12.1
Amount received on licensing arrangements	$ 2.8				$ 1.9				$ 11.4	€ 11.5
Amount received attributable to withholding taxes	$ 0.3	€ 0.3			$ 0.2	€ 0.2	$ 0.2		1.3				€ 0.5
Maximum additional amount receivable upon the achievement of certain development and regulatory milestones | $									40						$ 40
Maximum additional amount receivable upon the achievement of certain commercial milestones | $									$ 250						$ 250
Exchange rate | $ / €	1.080	1.080			1.009	1.009	1.082	1.082

Company Information - Tax audit

Company Information - Tax audit on payroll tax (Details) € in Millions, $ in Millions					12 Months Ended
	Nov. 26, 2021 USD ($)	Jun. 09, 2021 EUR (€)	Mar. 09, 2021 EUR (€)	Feb. 11, 2021 EUR (€)	Dec. 31, 2021 EUR (€)	Aug. 31, 2021 EUR (€)	Jan. 06, 2021 EUR (€)	Jan. 06, 2021 USD ($)
Company Information
Cash pledged as security					€ 1.7
Indemnification amount received					€ 2
Amount of offsetting against VAT credit receivables		€ 1.3
Provision related to tax audit for the years ended 2013, 2014 and 2015 | Guarantee given to the tax authorities
Company Information
Cash pledged as security						€ 1.6
Provision related to tax audit for the years ended 2013, 2014 and 2015 | Tax audit for payroll taxes
Company Information
Proposed payroll tax adjustment				€ 1.9
Indemnification amount received			€ 2
Total amount paid to French tax authorities		1.8
Net amount paid by bank transfer		€ 0.5
Provision related to tax audit for the years ended december 2016 and 2017 | Guarantee given to the tax authorities
Company Information
Cash pledged as security | $								$ 1
Provision related to tax audit for the years ended december 2016 and 2017 | Tax audit for payroll taxes
Company Information
Claim for total amount | $	$ 1.2
Crdit Agricole bank | Provision related to tax audit for the years ended 2013, 2014 and 2015 | Guarantee given to the tax authorities
Company Information
Amount of Release of Term Account Pledge						€ 1
Crdit Agricole bank | Tax disputes with French tax authorities
Company Information
Cash pledged as security							€ 1.7

Company Information - Tax aud_2

Company Information - Tax audit on research tax credit (Details) - EUR (€) € in Millions				12 Months Ended
	Apr. 21, 2022	Jan. 17, 2022	Dec. 06, 2021	Dec. 31, 2021	Nov. 26, 2021	Feb. 01, 2019	Jun. 30, 2018
Tax dispute settlement
French Research Tax Credit (CIR), payments received	€ 3.6
Amount of expenses reversed				€ 1.5
Provision for CIR related to tax audit for years 2013 to 2015
Tax dispute settlement
Amount of additional claim							€ 0.5
Tax deduction amount for Additional claim				€ 0.3
Amount of bank guarantee related to principal						€ 1.8
Amount of receivable					€ 0.3
2017 CIR relating to subcontracting operations
Tax dispute settlement
Maximum expenses to be claimed			€ 0.2
Amount of expenses reversed		€ 0.2	€ 0.7
Amount of expenses reversed		0.9
Amount of receivable		€ 0.2

Company information - Tax dispu

Company information - Tax dispute settlement (Details) € in Millions	12 Months Ended
	Dec. 31, 2022 EUR (€)
Payroll Tax Audit, 2016 and 2017
Company Information
Accruals settlement	€ 2.8
Settlement payments	0.4
Accruals settled through offset against VAT credits	1.9
CIR 2013 - 2015
Company Information
Write-off of CIR receivables	0.3
CIR 2017
Company Information
Write-off of CIR receivables	€ 0.2

Company information - Investmen

Company information - Investment in subsidiary (Details)		12 Months Ended
	Jan. 05, 2021	Dec. 31, 2023
Inventiva Inc.
Company Information
Percent of ownership interest	100%	100%

Company information - Equity fi

Company information - Equity financing (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions									1 Months Ended	12 Months Ended
	Sep. 05, 2023 EUR (€) shares	Aug. 31, 2023 EUR (€) shares	Jun. 15, 2022 EUR (€) $ / € € / shares shares	Jun. 15, 2022 $ / € $ / shares	Oct. 01, 2021 USD ($) $ / shares shares	Sep. 23, 2021 USD ($) $ / shares shares	Aug. 02, 2021 USD ($)	Jul. 15, 2020 USD ($)	Aug. 31, 2023 EUR (€)	Dec. 31, 2023 EUR (€) $ / € shares		Dec. 31, 2022 EUR (€) $ / €		Dec. 31, 2021 EUR (€) $ / €		Dec. 31, 2021 USD ($) $ / €	Dec. 29, 2023 $ / €	Jul. 19, 2023 $ / €
Company Information
Gross proceeds | $								$ 107.7
Net proceeds from issuing shares		€ 28,000								€ 28,079	[1]	€ 8,827	[1]	€ 25,475	[1]
Financial expenses										€ 6,882		€ 2,107		€ 2,635
Number of shares issued during the period | shares		9,618,638
Exchange rate | $ / €										1.1050		1.0666		1.1326		1.1326	1.080	1.082
Proceeds from issuance of shares		€ 30,600
Payments for share issue costs		€ 2,500
Jefferies ATM program
Company Information
Number of ordinary shares represented by each ADS							1
Maximum aggregate sales proceeds | $							$ 100
Percentage of dilution subject to regulatory limit							20%
ADS | Jefferies ATM program
Company Information
Net proceeds from issuing shares			€ 8,800			$ 30
Price per share | (per share)			€ 7.43	$ 7.75	$ 14.40	$ 14.40
Percentage of discount to volume weighted average trading price of Company's ADS			0.92%
Exchange rate | $ / €			1.0431	1.0431
Number of ordinary shares represented by each ADS			1	1		1
Increase (decrease) in number of shares outstanding | shares			1,260,618		130,856	2,083,334
Proceeds from issuance of shares			€ 9,400		$ 1.9
ATM
Company Information
Gross proceeds | $																$ 31.9
Number of shares issued during the period | shares										1,260,618
August 2023
Company Information
Gross proceeds from issuance of equity and royalty certificates									€ 35,700
Net proceeds from issuance of equity and royalty certificates									28,000
Payments for debt issue costs									€ 2,500
Number of shares issued during the period | shares	9,618,638
Percentage of discount to volume weighted average trading price of Company's ADS	0.22%
Proceeds from issuance of shares	€ 30,600
[1] Including subscriptions to BSA share warrants for €2 thousand, €0 thousand, and €49 thousand for the period ended December 31, 2023, December 31, 2022, and December 31, 2021 respectively.

Company Information - Payments

Company Information - Payments received from the Research Tax Credit (Details) - EUR (€) € in Millions		6 Months Ended
	Apr. 21, 2022	Jun. 30, 2021
Company information
Amount of entire CIR received		€ 4.2
Amount of additional reimbursements of CIR		€ 3.8
French Research Tax Credit (CIR), payments received	€ 3.6

Company Information - Capital i

Company Information - Capital increases and other significant events (Details) € / shares in Units, € in Thousands, $ in Millions

1 Months Ended

12 Months Ended

Sep. 05, 2023 EUR (€) € / shares shares

Aug. 31, 2023 EUR (€) shares

Aug. 30, 2023 EUR (€)

Dec. 08, 2022 EUR (€)

May 16, 2022 EUR (€) tranche

Jul. 15, 2020 USD ($)

Aug. 31, 2023 EUR (€)

Dec. 31, 2023 EUR (€) € / shares shares

Dec. 31, 2022 EUR (€)

Dec. 31, 2021 EUR (€)

[1]

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($) contract

Jan. 18, 2024 EUR (€)

Dec. 15, 2023 EUR (€)

Jul. 01, 2022 EUR (€)

May 14, 2021 USD ($)

Company Information

Total amount of loan

€ 25,000

Gross proceeds | $

$ 107.7

Proceeds from issuance of shares

€ 30,600

Net proceeds from issuing shares

€ 28,000

€ 28,079

[1]

€ 8,827

[1]

€ 25,475

Loan obtained

30,209

Number of shares issued during the period | shares

9,618,638

Par value per share | € / shares

€ 0.01

Proceeds from issuing shares

€ 30,600

Issue of royalty certificates

€ 5,100

Foreign currency forwards

Company Information

Total amount of loan | $

$ 60

$ 60

Number of contracts expired | contract

3

Pierre Broqua

Company Information

Amount payable to related parties for transfer of patent intellectual property rights, unconditional amount

50

Amount payable to related parties for transfer of patent intellectual property rights, conditional amount

€ 50

Pierre Broqua | Maximum

Company Information

Amount payable to related parties for transfer of patent intellectual property rights

€ 100

ATM

Company Information

Gross proceeds | $

$ 31.9

Number of shares issued during the period | shares

1,260,618

August 2023

Company Information

Gross proceeds from issuance of equity and royalty certificates

€ 35,700

Proceeds from issuance of shares

€ 30,600

Payments for debt issue costs

2,500

Net proceeds from issuance of equity and royalty certificates

€ 28,000

Number of shares issued during the period | shares

9,618,638

Par value per share | € / shares

€ 0.01

Subscription Price Per Share | € / shares

€ 3.18

Proceeds from issuing shares

€ 30,600

Issue of royalty certificates

€ 5,100

Percentage of discount to volume weighted average trading price

0.22%

August 2023 | Lanifibranor

Company Information

Percentage of right annual royalties on future sales for royalty certificate holders

2%

Maximum royalties payable to royalty certificate holders

€ 92,100

Term of royalty certificate

15 years

Finance contract with EIB

Company Information

Total amount of loan

€ 50,000

Number of equal tranches | tranche

2

Notional amount per tranche

€ 25,000

Finance contract with EIB | Warrant agreement with the European Investment Bank

Company Information

Total amount of loan

€ 50,000

Finance contract with EIB, first tranche (Tranche A)

Company Information

Aggregate amount to be received under the conditions precedent to the EIB Financing

€ 18,000

Interest rate

8%

8%

Maturity term after the disbursement of the tranche

4 years

4 years

Loan obtained

€ 25,000

Finance contract with EIB, second tranche (Tranche B)

Company Information

Total amount of loan

€ 25,000

Aggregate amount to be received under the conditions precedent to the EIB Financing

€ 70,000

Minimum upfront payments for out-licensing, partnership or royalty transaction

€ 10,000

Interest rate

7%

Maturity term after the disbursement of the tranche

3 years

[1] Including subscriptions to BSA share warrants for €2 thousand, €0 thousand, and €49 thousand for the period ended December 31, 2023, December 31, 2022, and December 31, 2021 respectively.

Company Information - Warrant a

Company Information - Warrant agreement with the European Investment Bank (Details) € / shares in Units, € in Thousands						12 Months Ended
	Jan. 18, 2024 EUR (€) shares	Dec. 08, 2022 EUR (€)	Nov. 28, 2022 EUR (€) € / shares shares	Jul. 01, 2022 EUR (€) € / shares shares	May 16, 2022 EUR (€) tranche	Dec. 31, 2023 EUR (€) shares	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Mar. 28, 2024 shares
Company Information
Total amount of loan	€ 25,000
Proceeds from exercise of warrants						€ 2	€ 0	€ 49
Proceeds from borrowings, classified as financing activities							30,209
Finance contract with EIB
Company Information
Total amount of loan					€ 50,000
Number of equal tranches | tranche					2
Notional amount per tranche					€ 25,000
Finance contract with EIB | Drawdown of borrowings
Company Information
Proceeds from borrowings, classified as financing activities	25,000
Finance contract with EIB, first tranche (Tranche A)
Company Information
Proceeds from borrowings, classified as financing activities		€ 25,000
Aggregate amount to be received under the conditions precedent to the EIB Financing					€ 18,000
Interest rate		8%			8%
Maturity term		4 years			4 years
Finance contract with EIB, first tranche (Tranche A) | Drawdown of borrowings
Company Information
Aggregate amount to be received under the conditions precedent to the EIB Financing	€ 18,000
Finance contract with EIB, second tranche (Tranche B)
Company Information
Total amount of loan							€ 25,000
Aggregate amount to be received under the conditions precedent to the EIB Financing					€ 70,000
Minimum upfront payments for out-licensing, partnership or royalty transaction					€ 10,000
Interest rate					7%
Maturity term					3 years
Finance contract with EIB, second tranche (Tranche B) | Drawdown of borrowings
Company Information
Number of warrants issued | shares	3,144,654
Proceeds from borrowings, classified as financing activities	€ 25,000
Aggregate amount to be received under the conditions precedent to the EIB Financing	70,000
Minimum upfront payments for out-licensing, partnership or royalty transaction	€ 10,000
Interest rate	7%
Maturity term	3 years
Warrant agreement with the European Investment Bank
Company Information
Number of warrants issued | shares			2,266,023			2,266,023
Subscription price per warrant | € / shares				€ 0.01
Number of shares per warrant | shares				1
Term over which volume weighted average price per share to determine number of warrants to be issued				180 days
Maturity term of warrants				12 years
Percentage of company's share capital outstanding, issued as warrants			5.40%			5.20%
Exercise price of warrant | € / shares			€ 4.0152
Transaction costs on issue of warrants			€ 56
Warrant agreement with the European Investment Bank | All warrants are exercised
Company Information
Proceeds from exercise of warrants			€ 9,100
Warrant agreement with the European Investment Bank | Finance contract with EIB
Company Information
Total amount of loan				€ 50,000
Warrant agreement with the European Investment Bank | Finance contract with EIB, first tranche (Tranche A) | Warrants disclosure after end of reporting period
Company Information
Number of shares per warrant | shares									1.27

Company Information - Share-bas

Company Information - Share-based payments (Details) € in Thousands

12 Months Ended

Dec. 08, 2022 shares

Dec. 08, 2022 employee

Dec. 08, 2022

Dec. 08, 2021 shares

Dec. 08, 2021 employee

Dec. 08, 2021

Jun. 28, 2021 EUR (€) shares

Apr. 16, 2021 shares

Apr. 16, 2021

Apr. 16, 2021 item

Dec. 31, 2023 EUR (€)

Dec. 31, 2022 EUR (€)

Dec. 31, 2021 EUR (€)

Disclosure of terms and conditions of share-based payment arrangement [line items]

Capital increase arising from the vesting of bonus share awards | €

€ 3,969

€ 2,218

€ 2,089

BSPCE 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

600,000

600,000

AGA 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

466,000

466,000

BSA 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

50,000

AGA 2019-1

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement

29,100

29,100

Capital increase arising from the vesting of bonus share awards | €

€ 291

AGA 2021-bis

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

123,000

123,000

123,000

Number of employees for whom bonus shares were granted | employee

13

AGA 2022

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

373,000

373,000

373,000

Number of other equity instruments exercised or vested in share-based payment arrangement

363,000

Number of employees for whom bonus shares were granted | employee

110

Company information - French st

Company information - French state-guaranteed loan ("PGE") and equity recovery loans ("PPR") (Details) € in Thousands	1 Months Ended			12 Months Ended			24 Months Ended
	Jun. 30, 2022 EUR (€) loan	Jun. 30, 2020	May 31, 2020 EUR (€) agreement	Dec. 31, 2023 EUR (€) loan	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 EUR (€)	Jan. 18, 2024 EUR (€)
Guarantee Details
Loan obtained					€ 30,209
Total amount of loan								€ 25,000
Repayments of borrowings				€ 2,485	1,033	€ 13
Loan agreements with a syndicate of French banks
Guarantee Details
Number of loan agreements | loan	3
Total amount of loan	€ 5,300
Loan agreements with syndicate of French banks, under stimulus economic plan
Guarantee Details
Number of loan agreements | loan	2
Total amount of loan	€ 5,300
Loan agreements with syndicate of French banks, state guaranteed loan (Pret Garanti par l'Etat)
Guarantee Details
Percentage of loan guaranteed by French state	90%
Maturity term		12 months
Equity recovery loans
Guarantee Details
Number of loan agreements | loan				2
Financing period of loan	8 years
Repayment period for loan	4 years
Financing from a syndicate of French banks
Guarantee Details
Number of loans obtained guaranteed by the french state | agreement			3
Loan obtained			€ 10,000
Extension of term of debt			4 years
Number of loan agreements | loan	3
Repayments of borrowings				€ 2,500	€ 1,000		€ 3,500

Basis of preparation and stat_3

Basis of preparation and statement of compliance - Significant Investments In Subsidiaries (Details) € in Millions					1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2023 EUR (€) entity	Oct. 11, 2023	Sep. 29, 2023	Jan. 05, 2021	Dec. 31, 2023 EUR (€) entity	Dec. 31, 2023 EUR (€) entity	Dec. 31, 2023 EUR (€) entity
General principles and statement of compliance
Number of entities being consolidated | entity	2				2	2	2
Hepalys Pharma, Inc
General principles and statement of compliance
Proportion of ownership interest	15%	15%	15%		15%	15%	15%
Inventiva Inc.
General principles and statement of compliance
Percent of ownership interest				100%			100%
Non-controlling interests | €	€ 0				€ 0	€ 0	€ 0

Basis of preparation and stat_4

Basis of preparation and statement of compliance - Consolidated financial statements (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Company Information
Loss for the period	€ (110,426)	€ (54,274)	€ (49,635)
Total assets	69,561	116,004	121,985
Shareholders' equity	(32,032)	45,476	88,866	€ 111,211
Adjustments to reconcile separate financial statements to consolidated financial statements
Company Information
Loss for the period	(2,999)	208	96
Total assets	(14,045)	(4,962)	(4,015)
Shareholders' equity	(2,130)	(5)	(90)
Separate | Inventiva S.A
Company Information
Loss for the period	(107,231)	(55,173)	(50,113)
Total assets	70,304	112,289	121,768
Shareholders' equity	(30,777)	44,369	88,552
Separate | Inventiva Inc.
Company Information
Loss for the period	(197)	691	382
Total assets	13,301	8,676	4,232
Shareholders' equity	€ 876	€ 1,111	€ 404

Basis of preparation and stat_5

Basis of preparation and statement of compliance - Foreign Exchange Rates (Details) - $ / €	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 29, 2023	Jul. 19, 2023
Exchange rate (USD per EUR)
Average exchange rate for the period	1.0813	1.0530	1.1827
Exchange rate at period end	1.1050	1.0666	1.1326	1.080	1.082

Accounting Principles - Propert

Accounting Principles - Property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2023
Buildings | Minimum
Accounting Principles
Useful lives of property, plant and equipment	20 years
Buildings | Maximum
Accounting Principles
Useful lives of property, plant and equipment	25 years
Fixtures and fittings
Accounting Principles
Useful lives of property, plant and equipment	10 years
Technical facilities | Minimum
Accounting Principles
Useful lives of property, plant and equipment	6 years
Technical facilities | Maximum
Accounting Principles
Useful lives of property, plant and equipment	10 years
Equipment and tooling | Minimum
Accounting Principles
Useful lives of property, plant and equipment	6 years
Equipment and tooling | Maximum
Accounting Principles
Useful lives of property, plant and equipment	10 years
General facilities, miscellaneous fixtures and fittings
Accounting Principles
Useful lives of property, plant and equipment	10 years
Office equipment
Accounting Principles
Useful lives of property, plant and equipment	5 years
IT equipment
Accounting Principles
Useful lives of property, plant and equipment	5 years
Furniture
Accounting Principles
Useful lives of property, plant and equipment	10 years

Accounting Principles - Royalty

Accounting Principles - Royalty certificates liabilities (Details)	Dec. 31, 2023
Royalty Certificate | Lanifibranor
Disclosure of detailed information about borrowings [line items]
Percentage Of Annual Royalties On Future Sales for Royalty Certificate Holders	2%

Accounting Principles - Fair va

Accounting Principles - Fair value measurement (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign currency forwards contract
Financial liabilities	€ 91,784	€ 63,760	€ 27,701
Financial assets	41,706	90,014	102,972
Financial liabilities carried at fair value through profit or loss
Foreign currency forwards contract
Financial liabilities	10,265	9,876
Financial assets carried at fair value through profit or loss
Foreign currency forwards contract
Financial assets			8,829
Level 1 | Financial assets carried at fair value through profit or loss
Foreign currency forwards contract
Financial assets			8,829
Level 1 | Financial assets carried at fair value through profit or loss | Term deposits
Foreign currency forwards contract
Financial assets			€ 8,829
Level 3 | Financial liabilities carried at fair value through profit or loss
Foreign currency forwards contract
Financial liabilities	10,265	9,876
Level 3 | Financial liabilities carried at fair value through profit or loss | Long-term financial debt - derivatives
Foreign currency forwards contract
Financial liabilities	€ 10,265	€ 9,876

Accounting Principles - Foreign

Accounting Principles - Foreign currency transactions and Segment information (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Principles
Amount of expenses denominated in foreign currency	€ 46.8	€ 15.9	€ 13.5
Foreign currency expenses as a percentage of operating expenses	37%	21%	21%

Accounting Principles - Segment

Accounting Principles - Segment information (Details)	12 Months Ended
	Dec. 31, 2023
Accounting Principles
Number of operating segments	1

Accounting Principles - geograp

Accounting Principles - geographical split (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of geographical areas [line items]
Intangible assets	€ 541	€ 568	€ 770	€ 935
Property, plant and equipment	9,125	7,385	3,196
Other non-current asset	10,055	1,668	2,442
Revenues	17,477	12,179	4,194
Revenues	17,477	12,179	4,194
France
Disclosure of geographical areas [line items]
Intangible assets	541	568	770
Property, plant and equipment	8,402	6,324	3,096
Other non-current asset	9,958	1,603	2,442
Revenues	118	125	194
USA
Disclosure of geographical areas [line items]
Property, plant and equipment	724	1,062	101
Other non-current asset	96	65
Revenues			€ 4,000
China
Disclosure of geographical areas [line items]
Revenues	4,610	€ 12,054
Japan
Disclosure of geographical areas [line items]
Revenues	€ 12,750

Accounting principles - Going c

Accounting principles - Going concern (Details) € in Thousands, $ in Millions		1 Months Ended	7 Months Ended	12 Months Ended
	Jan. 18, 2024 EUR (€)	Oct. 31, 2023 EUR (€)	Aug. 02, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Going Concern
Cash and cash equivalents				€ 26,918	€ 86,736	€ 86,553	€ 105,687
Short-term deposits				10
Subscription of borrowings					€ 30,209
Long-term deposit forward contract
Going Concern
Long-term deposit		€ 9,000		€ 9,000
Period of long-term deposit		2 years		2 years
Cowen ATM program | Maximum | Forecast
Going Concern
Aggregate offering price | $			$ 58
Drawdown of borrowings | Finance contract with EIB, Tranche B
Going Concern
Subscription of borrowings	€ 25,000

Intangible assets (Details)

Intangible assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Balance at the beginning	€ 568	€ 770	€ 935
Increases	(27)	(202)	(165)
Decreases			1
Balance at the end	541	568	770
Impairment amount on amortizable intangible assets	0	0	0
Gross
Intangible assets
Balance at the beginning	3,732	3,717	3,674
Increases	194	15	53
Decreases			10
Balance at the end	3,926	3,732	3,717
Amortization
Intangible assets
Balance at the beginning	(3,164)	(2,947)	(2,739)
Increases	(221)	(217)	(217)
Decreases			(10)
Balance at the end	(3,384)	(3,164)	(2,947)
Library of compounds | Gross
Intangible assets
Balance at the beginning	2,142	2,142	2,142
Balance at the end	2,142	2,142	2,142
Library of compounds | Amortization
Intangible assets
Balance at the beginning	(1,651)	(1,487)	(1,322)
Increases	(165)	(165)	(165)
Balance at the end	(1,816)	(1,651)	(1,487)
Software licenses
Intangible assets
Increases	200
Depreciation expenses	200	200	200
Intangible assets acquired	200
Software licenses | Gross
Intangible assets
Balance at the beginning	1,590	1,575	1,533
Increases	194	15	53
Decreases			10
Balance at the end	1,784	1,590	1,575
Software licenses | Amortization
Intangible assets
Balance at the beginning	(1,512)	(1,460)	(1,417)
Increases	(56)	(52)	(53)
Decreases			(10)
Balance at the end	€ (1,568)	€ (1,512)	€ (1,460)

Property, plant, and equipmen_2

Property, plant, and equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	€ 7,385	€ 3,196	€ 3,282
Increases	1,797	4,200	52
Decreases	(1)	(17)
Others	(55)	7	(274)
Balance at the end	9,125	7,385	3,196
Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	15,941	10,321	9,810
Increases	4,076	5,655	761
Decreases	(131)	(41)	(113)
Others	(46)	7	(137)
Balance at the end	19,840	15,941	10,321
Depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	(8,555)	(7,124)	(6,528)
Increases	(2,280)	(1,455)	(709)
Decreases	130	24	113
Others	(8)	0	(137)
Balance at the end	(10,714)	(8,555)	(7,124)
Land | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	172	172	172
Increases	0	0	0
Decreases	0	0
Others	0	0
Balance at the end	172	172	172
Buildings | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	3,470	3,407	3,407
Increases	0	86	0
Decreases	0	(23)
Others	0	0
Balance at the end	3,470	3,470	3,407
Buildings | Depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	(2,104)	(1,931)	(1,737)
Increases	(182)	(196)	(194)
Decreases	0	23
Others	0	0
Balance at the end	(2,286)	(2,104)	(1,931)
Technical facilities, equipment and tooling | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	5,457	5,118	4,856
Increases	210	357	336
Decreases	(87)	(18)	(75)
Others	24	0
Balance at the end	5,604	5,457	5,118
Technical facilities, equipment and tooling | Depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	(4,446)	(4,091)	(3,782)
Increases	(317)	(355)	(384)
Decreases	86	1	75
Others	0	0
Balance at the end	(4,676)	(4,446)	(4,091)
Other property, plant and equipment | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	1,519	1,422	1,203
Increases	38	97	223
Decreases	(44)	0	(4)
Others	24	0
Balance at the end	1,536	1,519	1,422
Other property, plant and equipment | Depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	(1,216)	(1,087)	(976)
Increases	(99)	(128)	(116)
Decreases	44	0	4
Others	0	0
Balance at the end	(1,271)	(1,216)	(1,087)
Property, plant and equipment in progress | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	65	59	137
Increases	98	5	59
Decreases	0	0
Others	(48)	0	(137)
Balance at the end	115	65	59
Right of use | Gross
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	5,259	143	34
Increases	3,731	5,109	143
Decreases	0	0	(34)
Others	(46)	7
Balance at the end	8,943	5,259	143
Right of use | Depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning	(790)	(14)	(33)
Increases	(1,681)	(776)	(16)
Decreases	0	0	34
Others	(8)	0
Balance at the end	€ (2,480)	€ (790)	€ (14)

Property, plant, and equipmen_3

Property, plant, and equipment - Additional Information (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Increase in net value of property, plant and equipment	€ 3.9
Acquisitions			€ 0.7
Fibroscan machines
Property, Plant and Equipment
Acquisitions	€ 3.7
Additions to right-of-use assets		€ 5.1
Technical facilities, equipment and tooling
Property, Plant and Equipment
Acquisitions			0.3
Other property, plant and equipment
Property, Plant and Equipment
Acquisitions			€ 0.2

Investments accounted for usi_3

Investments accounted for using the equity method - Additional Information (Details) € / shares in Units, € in Millions, $ in Millions									1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Oct. 11, 2023 EUR (€) € / shares shares	Sep. 29, 2023 USD ($)	Sep. 26, 2023 ¥ / shares shares	Sep. 26, 2023 € / shares shares	Sep. 20, 2023 EUR (€) ¥ / shares	Sep. 20, 2023 EUR (€) € / shares	Aug. 31, 2023 EUR (€)	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Oct. 11, 2023 USD ($)	Sep. 20, 2023 USD ($)
Investments accounted for using the equity method
Capital increase | €								€ 30.6
Hepalys Pharma, Inc [Member]
Investments accounted for using the equity method
Group's share in %	15%	15%	15%						15%	15%	15%
Hepalys Pharma, Inc [Member] | Hepalys Pharma, Inc [Member]
Investments accounted for using the equity method
Capital increase | $			$ 13
Hepalys Pharma, Inc [Member] | Catalys Option Agreement
Investments accounted for using the equity method
Option to acquire shares in company, percentage				30%	30%	30%	30%						30%
Purchase of interests in investments accounted for using equity method, price per share | (per share)		€ 1.90		¥ 300	€ 1.90	¥ 300	€ 1.90
Number of shares acquired in associate | shares		1,500,000		1,500,000	1,500,000
Fair value of option to acquire shares in associate		€ 3.4				¥ 3.4	€ 3.4					$ 3.6	$ 3.6
Volatility, measurement input in fair value of options to acquire shares in associate			68%
Risk-free rate, measurement input in fair value of options to acquire shares in associate			2%
Option maturity period, measurement input in fair value of options to acquire shares in associate			8 years

Investments accounted for usi_4

Investments accounted for using the equity method - investment in Hepalys accounted for using equity method of accounting (Details) - EUR (€)				1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Oct. 11, 2023	Sep. 29, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments accounted for using the equity method
Intangible assets	€ 541,000			€ 541,000	€ 541,000	€ 541,000	€ 568,000	€ 770,000	€ 935,000
Other current assets	11,696,000			11,696,000	11,696,000	11,696,000	13,267,000	20,260,000
Cash and cash equivalents	26,918,000			26,918,000	26,918,000	26,918,000	86,736,000	86,553,000	105,687,000
Total assets	69,561,000			69,561,000	69,561,000	69,561,000	116,004,000	121,985,000
Capital stock	521,158.07			521,158.07	521,158.07	521,158.07	421,000	409,000
Net loss for the period	(110,426,000)			(110,426,000)	(110,426,000)	(110,426,000)	(54,274,000)	(49,635,000)
Shareholders' equity	(32,032,000)			(32,032,000)	(32,032,000)	(32,032,000)	45,476,000	88,866,000	€ 111,211,000
Total non-current liabilities	51,434,000			51,434,000	51,434,000	51,434,000	39,827,000	10,266,000
Trade payables	37,679,000			37,679,000	37,679,000	37,679,000	19,359,000	14,602,000
Other current liabilities	7,165,000			7,165,000	7,165,000	7,165,000	5,485,000	6,789,000
Total current liabilities	50,158,000			50,158,000	50,158,000	50,158,000	30,701,000	22,853,000
Total equity and liabilities	69,561,000			69,561,000	69,561,000	69,561,000	116,004,000	121,985,000
Balance at the beginning						45,476,000	88,866,000	111,211,000
Loss for the period						(110,426,000)	(54,274,000)	(49,635,000)
Other comprehensive income							318,000	(82,000)
Balance at the end	(32,032,000)			(32,032,000)	(32,032,000)	(32,032,000)	45,476,000	€ 88,866,000
Carrying amount	1,425,000			1,425,000	1,425,000	1,425,000
Hepalys Pharma, Inc
Investments accounted for using the equity method
Intangible assets	20,278,000	€ 20,656,000		20,278,000	20,278,000	20,278,000
Total non-current assets	20,278,000	20,656,000		20,278,000	20,278,000	20,278,000
Other current assets	44,000	13,000		44,000	44,000	44,000
Cash and cash equivalents	1,082,000	11,569,000		1,082,000	1,082,000	1,082,000
Total current assets	1,126,000	11,582,000		1,126,000	1,126,000	1,126,000
Deferred assets	41,000	2,000		41,000	41,000	41,000
Total assets	21,444,000	32,240,000		21,444,000	21,444,000	21,444,000
Capital stock	640,000	5,877,000		640,000	640,000	640,000
Capital reserve	22,656,000	17,176,000		22,656,000	22,656,000	22,656,000
earnings brought forward	(178,000)	(176,000)		(178,000)	(178,000)	(178,000)
Net loss for the period	(1,111,000)	(232,000)		(1,111,000)	(1,111,000)	(1,111,000)
Treasury Shares	(812,000)	0		(812,000)	(812,000)	(812,000)
Shareholders' equity	21,194,000	22,645,000		21,194,000	21,194,000	21,194,000	22,645,000
Trade payables	237,000	9,590,000		237,000	237,000	237,000
Other current liabilities	13,000	6,000		13,000	13,000	13,000
Total current liabilities	250,000	9,596,000		250,000	250,000	250,000
Total equity and liabilities	21,444,000	32,240,000		21,444,000	21,444,000	21,444,000
Balance at the beginning						22,645,000
Loss for the period	(879,000)				(879,000)	(1,111,000)
Other comprehensive income	247,000
Capital variations	(819,000)
Balance at the end	€ 21,194,000	€ 22,645,000		€ 21,194,000	€ 21,194,000	€ 21,194,000	€ 22,645,000
Hepalys Pharma, Inc
Investments accounted for using the equity method
Group's share in %	15%	15%	15%	15%	15%	15%
Group's share	€ 3,267,000	€ 3,406,000		€ 3,267,000	€ 3,267,000	€ 3,267,000
Elimination of unrealised profit on downstream sales	(1,881,000)			(1,881,000)	(1,881,000)	(1,881,000)
Goodwill	38,000			38,000	38,000	38,000
Carrying amount	€ 1,425,000	€ 3,406,000		€ 1,425,000	€ 1,425,000	€ 1,425,000

Other non-current assets (Detai

Other non-current assets (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other non current assets
Longterm deposit accounts	€ 9,000	€ 700	€ 1,745
Advance payments - non-current	1,047	895	689
Accrued income	0	65	0
Security deposits	8	8	8
Other noncurrent assets	€ 10,055	€ 1,668	€ 2,442

Other non-current assets - Long

Other non-current assets - Long-term deposit accounts (Details) € in Millions		1 Months Ended			12 Months Ended
	Apr. 30, 2022 item	Oct. 31, 2023 EUR (€)	Apr. 30, 2023 EUR (€)	Apr. 30, 2022 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€) item	Jan. 06, 2021 EUR (€) item	Feb. 01, 2019 EUR (€) item
Other Non Current Assets
Increase (decrease) in long-term deposit accounts					€ 8.3	€ (1)
Number of pledges over cash | item							2
Cash pledged as security							€ 1.7
Long-term deposit forward contract
Other Non Current Assets
Long-term deposits		€ 9			€ 9
Period of long-term deposit		2 years			2 years
Expiration term of notice period		31 days
Term deposit
Other Non Current Assets
Deposits repaid during the period			€ 0.7
Pledge over cash, Abbott agreement
Other Non Current Assets
Number of pledges over cash | item									1
Cash pledged as security									€ 0.7
Amount of pledge as a percentage of sum not covered by the indemnity to be received									50%
Pledge over cash, tax authorities
Other Non Current Assets
Number of pledges over cash | item								1
Cash pledged as security								€ 1
Number of pledges over cash released | item	2
Pledge over cash, tax authorities, fiscal year 2016
Other Non Current Assets
Decrease in financial assets pledged as collateral through release				€ 1
Pledge over cash, tax authorities, fiscal year 2017
Other Non Current Assets
Decrease in financial assets pledged as collateral through release				€ 0.7
Crdit Agricole bank | Tax disputes with French tax authorities
Other Non Current Assets
Cash pledged as security								€ 1.7

Other non-current assets - Adva

Other non-current assets - Advances payments - non-current (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Non Current Assets
Non-current advances to suppliers	€ 1,047	€ 895	€ 689
Contract CRO with Pharmaceutical Research Associates B.V.
Other Non Current Assets
Non-current advances to suppliers	€ 1,000

Deferred tax assets (Details)

Deferred tax assets (Details) € in Thousands	Dec. 31, 2023 EUR (€)
Deferred tax assets
Deferred tax asset	€ 225
Tax credits
Deferred tax assets
Deferred tax asset	€ 225

Deferred tax assets - Additiona

Deferred tax assets - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	€ 225
Inventiva S.A
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Unrecognized Deferred tax assets	374,600	€ 261,800
Tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	0
Tax losses | Inventiva S.A
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	0	€ 0	€ 0
Tax credits
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	225
Tax credits | Inventiva Inc.
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	€ 200

Inventories (Details)

Inventories (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventories
Inventories	€ 417	€ 373	€ 392
Laboratory inventories
Inventories
Inventories	426	406	425
Inventories write-down
Inventories
Inventories	€ (9)	€ (33)	€ (33)

Trade receivables, tax receiv_3

Trade receivables, tax receivables and other current assets - Trade Receivables (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade receivables, tax receivables and other current assets
Trade receivables and others	€ 3,807	€ 0	€ 4,000
Average payment period for trade receivables	30 days
AbbVie
Trade receivables, tax receivables and other current assets
Trade receivables and others			4,000
3 months or less
Trade receivables, tax receivables and other current assets
Trade receivables and others	€ 3,807	€ 0	€ 4,000

Trade receivables, tax receiv_4

Trade receivables, tax receivables and other current assets- Other Current Assets and Receivables (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade receivables, tax receivables and other current assets
CIR and other research tax credits receivable	€ 5,333	€ 5,994	€ 4,357
Other	19	13	16
Tax receivables	5,352	6,007	4,373
Prepaid expenses	4,656	8,601	7,454
Short-term deposit accounts	70	1,048	8,829
Current accrued income	1,047	117	92
Liquidity agreement - Cash	422	282	762
VAT receivables	5,066	3,057	2,828
Other receivables	435	162	294
Other current assets	11,696	13,267	20,260
Other current assets and receivables	€ 17,048	€ 19,274	€ 24,632

Trade receivables, tax receiv_5

Trade receivables, tax receivables and other current assets - Additional Information (Details) € in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 EUR (€)
Trade receivables, tax receivables and other current assets
Tax receivables	€ 5,352	€ 6,007	€ 4,373
CIR receivable	5,300	5,200	4,200		€ 3,800
CIR and other research tax credits receivable	5,333	5,994	4,357
Increase in research and development expense		12,000
Decrease in CIR and other research tax credits through payments			4,200
Decrease in CIR and other research tax credits through corrective claims			3,800
Increase (decrease) in prepaid expenses	(3,900)	1,100
Short-term deposit accounts	70	1,048	8,829
Amount of deposits closed	1,000
Decrease in current deposit accounts		(7,800)
Incurred expenses that are due to be reinvoiced	€ 1,000
Inventiva Inc.
Trade receivables, tax receivables and other current assets
CIR receivable					€ 200
CIR and other research tax credits receivable		€ 800	200
Societe Generale
Trade receivables, tax receivables and other current assets
Decrease in current deposit accounts			€ (8,800)	$ (10)

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents
Other cash equivalents	€ 17,933	€ 16,798	€ 42,900
Cash at bank and at hand	8,985	69,939	43,653
Cash and cash equivalents	€ 26,918	€ 86,736	€ 86,553	€ 105,687

Cash and cash equivalents - Add

Cash and cash equivalents - Additional Information (Details) € in Thousands, $ in Millions												1 Months Ended	12 Months Ended
	Dec. 29, 2023 EUR (€)	Dec. 29, 2023 USD ($)	Dec. 12, 2023 EUR (€)	Oct. 18, 2023 EUR (€)	Oct. 18, 2023 USD ($)	Jul. 19, 2023 EUR (€)	Jul. 19, 2023 USD ($)	May 22, 2023 EUR (€)	May 22, 2023 USD ($)	Nov. 04, 2022 EUR (€)	Nov. 04, 2022 USD ($)	Aug. 31, 2023 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Cash and Cash Equivalents
Cash and cash equivalents													€ 26,918	€ 86,736	€ 86,553	€ 105,687
Decrease in cash and cash equivalents													€ (59,800)
Percentage of decrease in cash and cash equivalents													(69.00%)
Amount received attributable to withholding taxes			€ 2,800					€ 1,800		€ 1,300
Issue of equity													€ 30,587	9,366	25,426
Share capital
Cash and Cash Equivalents
Issue of equity													96	€ 13	€ 22
August 2023 financing
Cash and Cash Equivalents
Proceeds From Financing												€ 35,700
Royalty certificate issuance amount												5,100
August 2023 financing | Share capital
Cash and Cash Equivalents
Issue of equity												€ 30,600
Licensing and collaboration agreement with CTTQ
Cash and Cash Equivalents
Milestone payment													4,300
Amount received attributable to withholding taxes	€ 300	$ 0.3				€ 200	$ 0.2		$ 0.2		$ 1.3		500
Licensing agreement with Hepalys
Cash and Cash Equivalents
Upfront payment received				€ 9,500	$ 10								€ 9,500

Shareholders' equity - Share ca

Shareholders' equity - Share capital (Details)							12 Months Ended
	Aug. 31, 2023 EUR (€) € / shares shares	Jun. 15, 2022 EUR (€) € / shares	Oct. 01, 2021 item	Sep. 27, 2021 EUR (€) item € / shares	Jun. 28, 2021 EUR (€) € / shares shares	Jan. 10, 2021 EUR (€) € / shares	Dec. 31, 2023 EUR (€) € / shares shares		Dec. 31, 2022 EUR (€) € / shares shares		Dec. 31, 2021 EUR (€) € / shares shares		Dec. 08, 2023 € / shares	Dec. 31, 2020 € / shares shares
Shareholders' equity
Share capital							€ 30,587,000		€ 9,366,000		€ 25,426,000
Number of fully authorized, subscribed and paid up shares | shares							52,115,807
Nominal value | € / shares							€ 0.01
Number of shares issued during the period | shares	9,618,638
Subscription price per share | € / shares	€ 3.18
Proceeds from issuing shares	€ 30,600,000
Payments for share issue costs	2,500,000
Net proceeds from issuing shares	€ 28,000,000						€ 28,079,000	[1]	8,827,000	[1]	25,475,000	[1]
ATM
Shareholders' equity
Share capital							€ 9,400,000
Number of shares issued during the period | shares							1,260,618
AGA 2019-1
Shareholders' equity
Nominal value | € / shares					€ 0.01
AGA 2022
Shareholders' equity
Share capital							€ 3,630
Share capital
Shareholders' equity
Share capital							€ 96,000		€ 13,000		€ 22,000
Number of fully authorized, subscribed and paid up shares | shares							52,115,807		42,134,169		40,873,551			38,630,261
Nominal value | € / shares							€ 0.01		€ 0.01		€ 0.01		€ 0.01	€ 0.01
Number of shares issued during the period | shares							9,618,638		1,260,618		2,214,190
Share capital | ATM
Shareholders' equity
Share capital		€ 12,606		€ 20,833		€ 1,309
Nominal value | € / shares		€ 0.01		€ 0.01		€ 0.01
Number of ATM emissions | item			2	2
Share capital | AGA Bonus Plans
Shareholders' equity
Number of shares issued during the period | shares					29,100
Share capital | AGA 2019-1
Shareholders' equity
Share capital					€ 291
Nominal value | € / shares					€ 0.01
Premiums related to share capital
Shareholders' equity
Share capital							€ 30,491,000		€ 9,354,000		€ 25,404,000
Premiums related to share capital | ATM
Shareholders' equity
Share capital		€ 9,353,504		€ 25,556,803		€ 1,615,584
[1] Including subscriptions to BSA share warrants for €2 thousand, €0 thousand, and €49 thousand for the period ended December 31, 2023, December 31, 2022, and December 31, 2021 respectively.

Shareholders' equity - Changes

Shareholders' equity - Changes in share capital (Details) - EUR (€)								12 Months Ended
	Dec. 08, 2023	Aug. 30, 2023	Jun. 15, 2022	Oct. 01, 2021	Sep. 27, 2021	Jun. 28, 2021	Jan. 10, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 05, 2023	Dec. 31, 2020
Disclosure of classes of share capital [line items]
Shareholders' equity								€ (32,032,000)	€ 45,476,000	€ 88,866,000		€ 111,211,000
Number of shares outstanding								52,115,807
Nominal value								€ 0.01
Issue of ordinary shares								€ 30,587,000	9,366,000	25,426,000
Transaction costs								(2,511,000)	(539,000)
ATM
Disclosure of classes of share capital [line items]
Issue of ordinary shares								9,400,000
August 2023
Disclosure of classes of share capital [line items]
Nominal value											€ 0.01
AGA 2019-1
Disclosure of classes of share capital [line items]
Nominal value						€ 0.01
Share capital
Disclosure of classes of share capital [line items]
Shareholders' equity								€ 521,158	€ 421,341	€ 408,735		€ 386,302
Number of shares outstanding								52,115,807	42,134,169	40,873,551		38,630,261
Nominal value	€ 0.01							€ 0.01	€ 0.01	€ 0.01		€ 0.01
Issue of ordinary shares								€ 96,000	€ 13,000	€ 22,000
Increase (decrease) in number of shares outstanding	363,000
Vesting of bonus shares	€ 3,630
Share capital | ATM
Disclosure of classes of share capital [line items]
Nominal value			€ 0.01		€ 0.01		€ 0.01
Issue of ordinary shares			€ 12,606		€ 20,833		€ 1,309
Increase (decrease) in number of shares outstanding			1,260,618		2,083,334		130,856
Capital increase in cash				€ 25,400,000	€ 25,400,000
Share capital | August 2023
Disclosure of classes of share capital [line items]
Nominal value		€ 0.01
Issue of ordinary shares		€ 96,186
Increase (decrease) in number of shares outstanding		9,618,638
Share capital | AGA 2019-1
Disclosure of classes of share capital [line items]
Nominal value						€ 0.01
Issue of ordinary shares						€ 291
Increase (decrease) in number of shares outstanding						29,100
Premiums related to share capital
Disclosure of classes of share capital [line items]
Shareholders' equity								201,862,263	173,885,665	165,071,565		€ 139,667,602
Issue of ordinary shares								30,491,000	9,354,000	€ 25,404,000
Transaction costs		€ (2,510,855)						€ (2,511,000)	€ (539,000)
Vesting of bonus shares	€ (3,630)
Premiums related to share capital | ATM
Disclosure of classes of share capital [line items]
Issue of ordinary shares			€ 9,353,504		€ 25,556,803		€ 1,615,584
Transaction costs			€ (539,404)				€ (1,768,424)
Premiums related to share capital | August 2023
Disclosure of classes of share capital [line items]
Issue of ordinary shares		€ 30,491,082

Shareholders' equity - Addition

Shareholders' equity - Additional Information (Details)

12 Months Ended

Mar. 25, 2024 shares

Dec. 15, 2023 shares € / shares

Dec. 15, 2023 € / shares

Dec. 15, 2023 € / shares

Dec. 15, 2023 item € / shares

May 25, 2023 € / shares

May 25, 2023 shares € / shares

May 25, 2023 € / shares

May 25, 2023 € / shares

May 25, 2023 item € / shares

May 25, 2023 EquityInstruments € / shares

Apr. 16, 2021 € / shares

Dec. 31, 2023 plan € / shares

Dec. 31, 2022

Dec. 31, 2021 € / shares

Aug. 31, 2023 € / shares

Jan. 01, 2022 plan

Dec. 31, 2020 € / shares

Dec. 31, 2019 € / shares

Dec. 31, 2018 € / shares

Dec. 31, 2017 € / shares

Disclosure of classes of share capital [line items]

Subscription price per share

€ 3.18

BSA share warrants

Disclosure of classes of share capital [line items]

Number of plans outstanding

8

6

BSA share warrants | Directors

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0.534

BSA share warrants | Service providers

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0.48

BSA share warrants | David Nikodem

Disclosure of classes of share capital [line items]

Subscription price per share

€ 2.45

€ 0.18

BSA share warrants | David Nikodem and Jeremy Goldberg

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0.29

BSA 2023 plan

Disclosure of classes of share capital [line items]

Number of equity instruments granted

10,000

10,000

BSA 2023 plan | David Nikodem

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0.20

€ 0.20

€ 0.20

€ 0.20

€ 0.20

€ 0.20

€ 0.20

Exercise price

€ 2.51

€ 2.51

Number of equity instruments granted

10,000

10,000

BSA- 2 2023 plan

Disclosure of classes of share capital [line items]

Number of equity instruments granted

20,000

20,000

BSA- 2 2023 plan | David Nikodem

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0.31

€ 0.31

€ 0.31

€ 0.31

€ 0.31

Exercise price

€ 3.91

€ 3.91

Number of equity instruments granted | item

20,000

AGA Plan 2023-1

Disclosure of classes of share capital [line items]

Number of equity instruments granted

300,000

300,000

AGA Plan 2023-1 | Frdric Cren, Chief executive officer and chairman | Share-based payment activity

Disclosure of classes of share capital [line items]

Number of equity instruments granted | shares

300,000

AGA Plan 2023-1 | Pierre Broqua

Disclosure of classes of share capital [line items]

Number of equity instruments granted | shares

300,000

Number of bonus shares granted

300,000

AGA 2023-2

Disclosure of classes of share capital [line items]

Number of equity instruments granted

760,000

760,000

760,000

Instruments lapsed

12,000

AGA 2023-2 | Employees

Disclosure of classes of share capital [line items]

Number of bonus shares granted

760,000

PAGUP 2023

Disclosure of classes of share capital [line items]

Number of equity instruments granted

300,000

300,000

Maximum shareholding in entity to be legally allowed to participate in plan

10%

10%

Minimum period to hold less than threshold value of shares to become eligible for participation in plan

1 year

PAGUP 2023 | Frdric Cren, Chief executive officer and chairman

Disclosure of classes of share capital [line items]

Number of equity instruments granted | EquityInstruments

300,000

PAGUP 2023 | Frdric Cren, Chief executive officer and chairman | Share-based payment activity

Disclosure of classes of share capital [line items]

Instruments lapsed | shares

300,000

BSPCE 2021

Disclosure of classes of share capital [line items]

Subscription price per share

€ 0

Number of equity instruments granted

600,000

600,000

BSPCE 2021 | Frederic Cren and Pierre Broqua

Disclosure of classes of share capital [line items]

Number of bonus shares granted

600,000

BSA - Plan 2021-1

Disclosure of classes of share capital [line items]

Number of equity instruments granted

50,000

BSA - Plan 2021-1 | ISLS Consulting and David Nikadem

Disclosure of classes of share capital [line items]

Number of bonus shares granted

50,000

Bonus share award plans

Disclosure of classes of share capital [line items]

Number of equity instruments granted

1,060,000

373,000

589,000

Number of bonus share award plans | plan

5

Shareholders' equity - Liquidit

Shareholders' equity - Liquidity agreement (Details)	12 Months Ended
	Dec. 31, 2023
Shareholders' equity
Liquidity agreement term	12 months

Shareholders' Equity - Characte

Shareholders' Equity - Characteristics of BSPCE share warrants plans (Details)

12 Months Ended

Dec. 15, 2023 EUR (€) item € / shares shares

May 25, 2023 EUR (€) item € / shares shares

Apr. 16, 2021 EUR (€) item € / shares shares

Mar. 09, 2020 EUR (€) item € / shares shares

Jun. 28, 2019 item € / shares shares

Dec. 14, 2018 EUR (€) item € / shares shares

May 29, 2017 EUR (€) item € / shares shares

Dec. 13, 2013 employee € / shares shares

Dec. 31, 2023 € / shares

Dec. 31, 2021 € / shares

Aug. 31, 2023 € / shares

Dec. 31, 2022 € / shares

Jun. 26, 2019 EUR (€)

Disclosure of terms and conditions of share-based payment arrangement [line items]

Subscription price

€ 3.18

BSPCE plans

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

600,000

BSPCE 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

600,000

600,000

Number of shares per instrument | shares

1

Subscription price

€ 0

BSPCE exercise price (€)

€ 11.74

€ 11.74

€ 11.74

€ 11.74

Expected volatility

64%

Average life (years)

5 years

Risk-free rate

0.60%

BSPCE 2021 | Minimum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Fair value at grant date (€)

€ 5.4

BSPCE 2021 | Maximum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Fair value at grant date (€)

€ 5.7

BSPCE 2013-1

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of beneficiaries | employee

3

Number of equity instruments granted

9,027

Number of shares per instrument | shares

100

Subscription price

€ 58.50

BSPCE exercise price (€)

0.585

Fair value at grant date (€)

€ 19

Expected volatility

35%

Average life (years)

5 years

Risk-free rate

1.13%

BSA 2017

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

195,000

Number of shares per instrument | shares

1

Subscription price

€ 0.534

BSPCE exercise price (€)

€ 6.675

Expected volatility

40%

Fair value per AGA at grant date | €

€ 2.47

Risk-free rate

0.22%

BSA 2017 | Tranche one

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

1 year

BSA 2017 | Tranche two

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

2 years

BSA 2017 | Tranche three

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

3 years

BSA - 2018 plan

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

126,000

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 6.067

6.07

6.07

6.07

Fair value per AGA at grant date | €

€ 1.98

BSA - 2018 plan | Minimum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

1 year

BSA - 2018 plan | Maximum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

3 years

BSA 2019

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

10,000

Vesting and holding period (year)

1 year

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 2.20

2.20

2.20

2.20

Fair value per AGA at grant date | €

€ 0.48

BSA 2019 bis

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

10,000

Vesting and holding period (year)

1 year

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 3.68

3.68

3.68

3.68

Fair value per AGA at grant date | €

€ 0.90

BSA 2019 ter

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

36,000

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 3.68

€ 3.68

€ 3.68

€ 3.68

Fair value per AGA at grant date | €

€ 0.90

BSA 2019 ter | Minimum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

1 year

BSA 2019 ter | Maximum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Vesting and holding period (year)

3 years

BSA 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted | item

50,000

Vesting and holding period (year)

3 years

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 11.74

BSA 2021 | Minimum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Fair value per AGA at grant date | €

€ 3

BSA 2021 | Maximum

Disclosure of terms and conditions of share-based payment arrangement [line items]

Fair value per AGA at grant date | €

€ 3.2

BSA 2023 plan

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

10,000

10,000

Vesting and holding period (year)

2 years 10 months 24 days

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 2.51

€ 2.51

Fair value per AGA at grant date | €

€ 1.89

BSA 2023-2

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of equity instruments granted

20,000

20,000

Vesting and holding period (year)

2 years 3 months 18 days

Number of shares per instrument | shares

1

BSPCE exercise price (€)

€ 3.91

€ 3.91

Fair value per AGA at grant date | €

€ 2.67

Shareholders equity - BSA and A

Shareholders equity - BSA and AGA plans (Details)

12 Months Ended

Dec. 15, 2023 € / shares shares

Dec. 15, 2023 shares € / shares

Dec. 15, 2023 € / shares shares

Dec. 15, 2023 item € / shares shares

Dec. 15, 2023 Y € / shares shares

May 25, 2023 Y item € / shares shares

Dec. 08, 2022

Dec. 08, 2022 shares

Dec. 08, 2022

Dec. 08, 2021

Dec. 08, 2021 shares

Dec. 08, 2021

Apr. 16, 2021 € / shares shares

Apr. 16, 2021 shares € / shares

Apr. 16, 2021 € / shares shares

Apr. 16, 2021 item € / shares shares

Apr. 16, 2021 Y € / shares shares

Mar. 09, 2020 Y item € / shares shares

Jun. 28, 2019 Y item € / shares shares

Dec. 14, 2018 Y item € / shares shares

May 29, 2017 item Y € / shares shares

Dec. 31, 2023 € / shares

Dec. 31, 2022 € / shares

Dec. 31, 2021 € / shares

BSA plans

Disclosure of classes of share capital [line items]

Number of equity instruments granted

30,000

50,000

BSA - 2017 plan

Disclosure of classes of share capital [line items]

Exercise price (in euros)

€ 6.67

€ 6.67

€ 6.67

BSA - 2018 plan

Disclosure of classes of share capital [line items]

Number of equity instruments granted | item

126,000

Number of shares per instrument | shares

1

Subscription premium price per share (€)

€ 0.48

Exercise price (in euros)

€ 6.067

6.07

6.07

6.07

Expected volatility

40%

Average life (years) | Y

6

Risk free rate

0.30%

BSA - 2018 plan | Minimum

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

BSA - 2018 plan | Maximum

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

BSA - 2019 plan

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

Number of equity instruments granted | item

10,000

Number of shares per instrument | shares

1

Subscription premium price per share (€)

€ 0.18

Exercise price (in euros)

€ 2.20

2.20

2.20

2.20

Expected volatility

40%

Average life (years) | Y

5.5

Risk free rate

0.33%

BSA 2019 bis

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

Number of equity instruments granted | item

10,000

Number of shares per instrument | shares

1

Subscription premium price per share (€)

€ 0.29

Exercise price (in euros)

€ 3.68

3.68

3.68

3.68

Expected volatility

40%

Average life (years) | Y

6

Risk free rate

0%

BSA 2019 ter

Disclosure of classes of share capital [line items]

Number of equity instruments granted | item

36,000

Number of shares per instrument | shares

1

Subscription premium price per share (€)

€ 0.29

Exercise price (in euros)

€ 3.68

€ 3.68

3.68

€ 3.68

Expected volatility

40%

Average life (years) | Y

6

Risk free rate

0%

BSA 2019 ter | Minimum

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

BSA 2019 ter | Maximum

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

BSA 2021

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

Number of equity instruments granted | item

50,000

Number of shares per instrument | shares

1

1

1

1

1

Subscription premium price per share (€)

€ 2.45

€ 2.45

€ 2.45

€ 2.45

€ 2.45

Exercise price (in euros)

€ 11.74

€ 11.74

€ 11.74

€ 11.74

€ 11.74

Expected volatility

64%

Average life (years) | Y

5

Risk free rate

0.60%

BSA 2017

Disclosure of classes of share capital [line items]

Number of equity instruments granted | item

195,000

Number of shares per instrument | shares

1

Exercise price (in euros)

€ 6.675

Average life (years) | Y

6

BSA 2017 | Tranche one

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

BSA 2017 | Tranche two

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

2 years

BSA 2017 | Tranche three

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

BSA 2023 plan

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

2 years 10 months 24 days

Number of equity instruments granted

10,000

10,000

Number of shares per instrument | shares

1

Subscription premium price per share (€)

€ 0.20

Exercise price (in euros)

€ 2.51

€ 2.51

Expected volatility

65%

Average life (years) | Y

6.5

Risk free rate

2.96%

BSA 2023-2

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

2 years 3 months 18 days

Number of equity instruments granted

20,000

20,000

Number of shares per instrument | shares

1

1

1

1

1

Subscription premium price per share (€)

€ 0.31

€ 0.31

€ 0.31

€ 0.31

€ 0.31

Exercise price (in euros)

€ 3.91

€ 3.91

€ 3.91

€ 3.91

€ 3.91

€ 3.91

Expected volatility

62%

Average life (years) | Y

6.2

Risk free rate

2.65%

BSA - Plan 2021-1

Disclosure of classes of share capital [line items]

Number of equity instruments granted

50,000

Exercise price (in euros)

11.74

€ 11.74

€ 11.74

AGA 2021 [Member]

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

Number of equity instruments granted

466,000

466,000

Average life (years)

3 years

Risk-free rate

0.60%

Expected volatility

64%

AGA 2021-1

Disclosure of classes of share capital [line items]

Number of equity instruments granted

466,000

Exercise price (in euros)

11.30

AGA 2021-bis

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

3 years

Number of equity instruments granted

123,000

123,000

123,000

Exercise price (in euros)

12.20

Average life (years)

2 years 3 months 18 days

Risk-free rate

0.60%

Expected volatility

64%

AGA 2022

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

Holding period (year)

1 year

Number of equity instruments granted

373,000

373,000

373,000

Exercise price (in euros)

€ 4.18

AGA Plan 2023-1

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

4 years

Holding period (year)

4 years

Number of equity instruments granted

300,000

300,000

Exercise price (in euros)

€ 2.60

AGA 2023-2

Disclosure of classes of share capital [line items]

Vesting and holding period (year)

1 year

Holding period (year)

1 year

Number of equity instruments granted

760,000

760,000

760,000

Exercise price (in euros)

€ 3.90

Shareholders equity - Share war

Shareholders equity - Share warrants (Details)																								12 Months Ended
	Dec. 15, 2023 EUR (€) € / shares	Dec. 15, 2023 EUR (€) shares € / shares	Dec. 15, 2023 EUR (€) € / shares	Dec. 15, 2023 EUR (€) item € / shares	May 25, 2023 EUR (€) item € / shares shares	Dec. 08, 2022 EUR (€)	Dec. 08, 2022 EUR (€) shares	Dec. 08, 2022 EUR (€)	Dec. 08, 2021 EUR (€)	Dec. 08, 2021 EUR (€) shares	Dec. 08, 2021 EUR (€)	Dec. 08, 2021 EUR (€) € / shares	Aug. 12, 2021 € / shares	Jun. 28, 2021 shares	Apr. 16, 2021 EUR (€) € / shares	Apr. 16, 2021 EUR (€) shares € / shares	Apr. 16, 2021 EUR (€) € / shares	Apr. 16, 2021 EUR (€) € / shares	Apr. 16, 2021 EUR (€) item € / shares	Mar. 09, 2020 EUR (€) item € / shares	Aug. 28, 2019 € / shares	Jun. 28, 2019 item € / shares	Dec. 14, 2018 EUR (€) item € / shares	Dec. 31, 2023 shares € / shares	Dec. 31, 2023 € / shares shares	Dec. 31, 2023 EUR (€) € / shares shares	Dec. 31, 2022 shares € / shares	Dec. 31, 2022 € / shares shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2021 shares € / shares	Dec. 31, 2021 € / shares shares	Dec. 31, 2021 € / shares shares	Dec. 31, 2021 EUR (€) € / shares shares	Dec. 31, 2020 EUR (€)	Nov. 28, 2022 shares	Jun. 26, 2019 EUR (€)
Notes to the consolidated balance sheet
Share based payment expense | €																										€ 122,000
Bonus Share Award Plans [Member]
Notes to the consolidated balance sheet
Outstanding, Beginning balance																									790,600			571,000			29,100
Issued																									1,060,000			373,000			589,000
Exercised/Vesting																									(363,000)						(29,100)
Forfeited/ Lapsed																									(76,786)			(153,400)			(18,000)
Outstanding, Ending balance																									1,410,814			790,600			571,000			29,100
Share based payment expense | €																										€ 3,020,000,000			€ 1,452,000				€ 1,231,000	€ 920,000
Number of bonus shares forfeited																									76,786			153,400			18,000
Number of equity instruments granted																									1,060,000			373,000			589,000
AGA 2019-1 [Member]
Notes to the consolidated balance sheet
Stock price at grant date (in euros)																					€ 2
Outstanding, Beginning balance																															29,100
Exercised/Vesting														(29,100)																	(29,100)
Forfeited/ Lapsed																									(18,000)
Outstanding, Ending balance																																		29,100
Number of bonus shares forfeited																									18,000
Number of new shares issued upon vesting																															29,100
AGA 2021 [Member]
Notes to the consolidated balance sheet
Issued																466,000	466,000
Number of shares per AGA | shares																1
Vesting and holding period (year)															3 years
Number of equity instruments granted																466,000	466,000
AGA 2021 [Member] | Maximum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €															€ 11.3	€ 11.3	€ 11.3	€ 11.3	€ 11.3
AGA 2021 [Member] | Minimum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €															€ 9.8	€ 9.8	€ 9.8	€ 9.8	€ 9.8
AGA 2021 [Member] | Employees
Notes to the consolidated balance sheet
Potential new shares | shares																														589,000	589,000	589,000	589,000
AGA 2021-1
Notes to the consolidated balance sheet
Stock price at grant date (in euros)																		€ 11.30
Exercise price (in euros)																								€ 11.30	€ 11.30	€ 11.30
Outstanding, Beginning balance																									340,800			448,000
Issued																															466,000
Forfeited/ Lapsed																												(107,200)			(18,000)
Forfeited/lapsed																									(43,201)
Outstanding, Ending balance																									297,599			340,800			448,000
Number of bonus shares forfeited																												107,200			18,000
Number of equity instruments granted																															466,000
Number of shares forfeited due to departure of employees																												22,000
Number of shares forfeited due to recruitments conditions not reached																												85,200
Instruments lapsed																									8,932
AGA 2021-1 | Based On Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(13,719)
Number of bonus shares forfeited																									13,719
AGA 2021-1 | Based On Non-Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(20,550)
Number of bonus shares forfeited																									20,550
AGA 2021-bis
Notes to the consolidated balance sheet
Stock price at grant date (in euros)												€ 12.20	€ 12.20
Exercise price (in euros)																								12.20	€ 12.20	12.20
Outstanding, Beginning balance																									76,800			123,000
Issued										123,000	123,000																				123,000
Forfeited/ Lapsed																												(46,200)
Forfeited/lapsed																									(11,585)
Outstanding, Ending balance																									65,215			76,800			123,000
Number of shares per AGA | shares										1
Vesting and holding period (year)									3 years
Number of bonus shares forfeited																												46,200
Number of equity instruments granted										123,000	123,000																				123,000
Number of shares forfeited due to departure of employees																												27,000
Number of shares forfeited due to recruitments conditions not reached																												19,200
Instruments lapsed																									4,000
AGA 2021-bis | Maximum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €									€ 12.2	€ 12.2	€ 12.2	€ 12.2
AGA 2021-bis | Minimum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €									€ 11.4	€ 11.4	€ 11.4	€ 11.4
AGA 2021-bis | Based On Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(3,035)
Number of bonus shares forfeited																									3,035
AGA 2021-bis | Based On Non-Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(4,550)
Number of bonus shares forfeited																									4,550
AGA 2022
Notes to the consolidated balance sheet
Stock price at grant date (in euros)												€ 4.18
Exercise price (in euros)																								4.18	€ 4.18	4.18
Outstanding, Beginning balance																									373,000
Issued							373,000	373,000																				373,000
Exercised/Vesting																									(363,000)
Forfeited/lapsed																									(10,000)
Outstanding, Ending balance																												373,000
Number of shares per AGA | shares							1
Vesting and holding period (year)						1 year
Number of equity instruments granted							373,000	373,000																				373,000
Fair value per AGA at grant date | €						€ 4.18	€ 4.18	€ 4.18
Instruments lapsed																									10,000
AGA Plan 2023-1
Notes to the consolidated balance sheet
Exercise price (in euros)																								2.60	€ 2.60	2.60
Issued					300,000																				300,000
Outstanding, Ending balance																									300,000
Number of shares per AGA | shares					1
Vesting and holding period (year)					4 years
Number of equity instruments granted					300,000																				300,000
Fair value per AGA at grant date | €					€ 2.60
AGA 2023-2
Notes to the consolidated balance sheet
Exercise price (in euros)																								€ 3.90	€ 3.90	€ 3.90
Issued		760,000	760,000																						760,000
Forfeited/lapsed																									(12,000)
Outstanding, Ending balance																									748,000
Number of shares per AGA | shares		1
Vesting and holding period (year)	1 year
Number of equity instruments granted		760,000	760,000																						760,000
Fair value per AGA at grant date | €	€ 3.9	€ 3.9	€ 3.9	€ 3.9
Instruments lapsed																									12,000
PAGUP
Notes to the consolidated balance sheet
Issued																									300,000
Outstanding, Ending balance																									300,000
Number of equity instruments granted																									300,000
PAGUP 2023
Notes to the consolidated balance sheet
Reference price																																€ 2.60
Issued					300,000																				300,000
Outstanding, Ending balance																									300,000
Number of shares per AGA | shares					1
Vesting and holding period (year)					4 years
Number of equity instruments granted					300,000																				300,000
Fair value per AGA at grant date | €					€ 2.60
BSPCE and BSA Share Warrants
Notes to the consolidated balance sheet
Outstanding, Beginning balance																									806,800			930,800			310,800
Issued																									30,000						650,000
Forfeited/ Lapsed																									(60,467)			(124,000)			(30,000)
Outstanding, Ending balance																									776,333			806,800			930,800			310,800
Number of exercisable shares																								732,000	732,000	732,000	298,800	298,800	298,800	286,800	286,800	286,800	286,800
Share based payment expense | €																										€ 827,000			€ 765,000				€ 859,000
Number of bonus shares forfeited																									60,467			124,000			30,000
Number of equity instruments granted																									30,000						650,000
Potential new shares | shares																								776,333	776,333	776,333	806,800	806,800	806,800	930,800	930,800	930,800	930,800
BSA plans
Notes to the consolidated balance sheet
Outstanding, Beginning balance																									318,000			322,000			302,000
Issued																									30,000						50,000
Forfeited/ Lapsed																									(1,667)			(4,000)			(30,000)
Outstanding, Ending balance																								318,000	346,333			318,000			322,000			302,000
Number of exercisable shares																								302,000	302,000	302,000	290,000	290,000	290,000	278,000	278,000	278,000	278,000
Number of bonus shares forfeited																									1,667			4,000			30,000
Number of equity instruments granted																									30,000						50,000
BSA - 2017 plan
Notes to the consolidated balance sheet
Exercise price (in euros)																								€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67	€ 6.67
Outstanding, Beginning balance																									130,000			130,000			130,000
Outstanding, Ending balance																									130,000			130,000			130,000			130,000
Number of exercisable shares																								130,000	130,000	130,000	130,000	130,000	130,000	130,000	130,000	130,000	130,000
BSA - 2018 plan
Notes to the consolidated balance sheet
Exercise price (in euros)																							€ 6.067	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07	€ 6.07
Outstanding, Beginning balance																									116,000			116,000			116,000
Issued | item																							126,000
Outstanding, Ending balance																									116,000			116,000			116,000			116,000
Number of exercisable shares																								116,000	116,000	116,000	116,000	116,000	116,000	116,000	116,000	116,000	116,000
Number of equity instruments granted | item																							126,000
Fair value per AGA at grant date | €																							€ 1.98
BSA - 2018 plan | Maximum
Notes to the consolidated balance sheet
Vesting and holding period (year)																							3 years
BSA - 2018 plan | Minimum
Notes to the consolidated balance sheet
Vesting and holding period (year)																							1 year
BSA - 2019 plan
Notes to the consolidated balance sheet
Exercise price (in euros)																						€ 2.20		€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20	€ 2.20
Outstanding, Beginning balance																									10,000			10,000			10,000
Issued | item																						10,000
Outstanding, Ending balance																									10,000			10,000			10,000			10,000
Number of exercisable shares																								10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000
Vesting and holding period (year)																						1 year
Number of equity instruments granted | item																						10,000
Fair value per AGA at grant date | €																																				€ 0.48
BSA 2019 bis
Notes to the consolidated balance sheet
Exercise price (in euros)																				€ 3.68				€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68
Outstanding, Beginning balance																									10,000			10,000			10,000
Issued | item																				10,000
Outstanding, Ending balance																									10,000			10,000			10,000			10,000
Number of exercisable shares																								10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000
Vesting and holding period (year)																				1 year
Number of equity instruments granted | item																				10,000
Fair value per AGA at grant date | €																				€ 0.90
BSA 2019 ter
Notes to the consolidated balance sheet
Exercise price (in euros)																				€ 3.68				€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68	€ 3.68
Outstanding, Beginning balance																									36,000			36,000			36,000
Issued | item																				36,000
Outstanding, Ending balance																									36,000			36,000			36,000			36,000
Number of exercisable shares																								36,000	36,000	36,000	24,000	24,000	24,000	12,000	12,000	12,000	12,000
Number of equity instruments granted | item																				36,000
Fair value per AGA at grant date | €																				€ 0.90
BSA 2019 ter | Maximum
Notes to the consolidated balance sheet
Vesting and holding period (year)																				3 years
BSA 2019 ter | Minimum
Notes to the consolidated balance sheet
Vesting and holding period (year)																				1 year
BSA 2021
Notes to the consolidated balance sheet
Exercise price (in euros)															€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74
Issued | item																			50,000
Forfeited/ Lapsed																									(1,667)
Vesting and holding period (year)															3 years
Number of bonus shares forfeited																									1,667
Number of equity instruments granted | item																			50,000
BSA 2021 | Maximum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €															€ 3.2	€ 3.2	€ 3.2	€ 3.2	€ 3.2
BSA 2021 | Minimum
Notes to the consolidated balance sheet
Fair value per AGA at grant date | €															€ 3	€ 3	€ 3	€ 3	€ 3
BSA - Plan 2021-1
Notes to the consolidated balance sheet
Exercise price (in euros)																								€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74
Outstanding, Beginning balance																									16,000			20,000
Issued																															50,000
Forfeited/ Lapsed																									(1,667)			(4,000)			(30,000)
Outstanding, Ending balance																									14,333			16,000			20,000
Number of bonus shares forfeited																									1,667			4,000			30,000
Number of equity instruments granted																															50,000
BSA - Plan 2021-1 | ISLS Consulting
Notes to the consolidated balance sheet
Forfeited/ Lapsed																															(30,000)
Number of bonus shares forfeited																															30,000
BSA 2022
Notes to the consolidated balance sheet
Exercise price (in euros)																								€ 4.02	€ 4.02	€ 4.02
Issued																									2,266,023
Number of share warrants outstanding | shares																								2,266,023	2,266,023	2,266,023	2,266,023	2,266,023	2,266,023						2,266,023
Number of equity instruments granted																									2,266,023
BSA 2023 plan
Notes to the consolidated balance sheet
Exercise price (in euros)					€ 2.51																			€ 2.51	€ 2.51	€ 2.51
Issued					10,000																				10,000
Outstanding, Ending balance																									10,000
Vesting and holding period (year)					2 years 10 months 24 days
Number of equity instruments granted					10,000																				10,000
Fair value per AGA at grant date | €					€ 1.89
BSA- 2 2023 plan
Notes to the consolidated balance sheet
Exercise price (in euros)	€ 3.91	€ 3.91	€ 3.91	€ 3.91																				€ 3.91	€ 3.91	€ 3.91
Issued				20,000																					20,000
Outstanding, Ending balance																									20,000
Vesting and holding period (year)	2 years 3 months 18 days
Number of equity instruments granted				20,000																					20,000
Fair value per AGA at grant date | €	€ 2.67	€ 2.67	€ 2.67	€ 2.67
BSPCE plans
Notes to the consolidated balance sheet
Outstanding, Beginning balance																								480,088	488,800		600,088	608,800			8,800
Issued																															600,000
Forfeited/ Lapsed																									(58,800)			(120,000)
Outstanding, Ending balance																									430,000		480,088	488,800		600,088	608,800			8,800
Number of exercisable shares																								430,000	430,000	430,000	8,800	8,800	8,800	8,800	8,800	8,800	8,800
Number of bonus shares forfeited																									58,800			120,000
Number of equity instruments granted																															600,000
Potential new shares | shares																								430,000	430,000	430,000	488,800	488,800	488,800	608,800	608,800	608,800	608,800
BSPCE - 2013 Plan
Notes to the consolidated balance sheet
Exercise price (in euros)																								€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59	€ 0.59
Outstanding, Beginning balance																									8,800			8,800			8,800
Forfeited/ Lapsed																									(8,800)
Outstanding, Ending balance																												8,800			8,800			8,800
Number of exercisable shares																											8,800	8,800	8,800	8,800	8,800	8,800	8,800
Number of bonus shares forfeited																									8,800
BSPCE 2021
Notes to the consolidated balance sheet
Exercise price (in euros)															€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74					€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74	€ 11.74
Outstanding, Beginning balance																									480,000			600,000
Issued																	600,000														600,000
Forfeited/ Lapsed																									(50,000)			(120,000)
Outstanding, Ending balance																									430,000			480,000			600,000
Number of exercisable shares																								430,000	430,000	430,000
Number of bonus shares forfeited																									50,000			120,000
Number of equity instruments granted																	600,000														600,000
BSPCE 2021 | Based On Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(30,000)
Number of bonus shares forfeited																									30,000
BSPCE 2021 | Based On Non-Market Condition
Notes to the consolidated balance sheet
Forfeited/ Lapsed																									(20,000)
Number of bonus shares forfeited																									20,000

Financial debt - Financial debt

Financial debt - Financial debt (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial debt
Bank borrowings	€ 27,206	€ 29,689	€ 9,984
Derivatives	10,265	9,876
Accrued interest payable on loans	3,719	316	6
Lease liabilities	6,565	4,510	130
Royalty certificates liabilities	6,327	0	0
Total debt	€ 54,082	€ 44,390	€ 10,119	€ 10,055

Financial debt - Maturity of lo

Financial debt - Maturity of long term debt and of short term borrowings and debt (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Bank borrowings	€ 27,206	€ 29,689	€ 9,984
Derivatives	10,265	9,876
Accrued interest payable on loans	3,719	316	6
Lease liabilities	6,565	4,510	130
Royalty certificates liabilities	6,327	0	0
Total debt	54,082	44,390	10,119	€ 10,055
Less than 1 year
Disclosure of detailed information about borrowings [line items]
Bank borrowings	2,928	4,474	1,244
Accrued interest payable on loans	82	100
Lease liabilities	2,298	1,277	38
Total debt	5,308	5,851	1,282
Between 1 and 3 years
Disclosure of detailed information about borrowings [line items]
Bank borrowings	4,872	4,999	7,484
Accrued interest payable on loans			6
Lease liabilities	4,267	3,233	92
Total debt	9,140	8,232	7,582
Between 3 and 5 years
Disclosure of detailed information about borrowings [line items]
Bank borrowings	17,848	17,768	1,256
Derivatives	10,265	9,876
Accrued interest payable on loans	3,636	216
Total debt	31,749	27,860	€ 1,256
More than 5 years
Disclosure of detailed information about borrowings [line items]
Bank borrowings	1,558	2,448
Royalty certificates liabilities	6,327
Total debt	€ 7,885	€ 2,448

Financial debt - Movements in t

Financial debt - Movements in the period break down (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial debt
Beginning balance	€ 44,390	€ 10,119	€ 10,055
Subscription of new leases	3,706	5,109	143
Issue of royalty certificates	5,100
Repayment of bank borrowings	(2,485)	(1,033)	(13)
Repayment of lease liabilities	(1,612)	(735)	(15)
Accrued interests			(51)
Subscription of state-guaranteed PGE loan		1,780
Subscription of PPR loan		3,560
Subscription of derivatives instruments		9,649
Subscription of bank borrowings		15,400
Interests on royalty certificates	1,227
Capitalized interests	3,405	308
Fair Value Variations	389	407
Exchange rate change	(38)	6
Ending balance	€ 54,082	€ 44,390	€ 10,119

Financial debt - Movements (Det

Financial debt - Movements (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	€ 44,390	€ 10,119
Additions	8,806	35,625
Capitalized interest	4,632
Repayments	(4,097)	(1,767)
Fair Value Variations	389	407
Effect of movements in exchange rates	(38)	6
Ending balance	54,082	44,390
Lease liabilities
Disclosure of detailed information about borrowings [line items]
Beginning balance	4,510	130
Additions	3,706	5,109
Repayments	(1,612)	(735)
Effect of movements in exchange rates	(38)	6
Ending balance	6,566	4,510
PGE SG 2020
Disclosure of detailed information about borrowings [line items]
Beginning balance	2,926	3,339
Repayments	(830)	(413)
Ending balance	2,096	2,926
PGE BPI France 2020
Disclosure of detailed information about borrowings [line items]
Beginning balance	3,094	3,300
Repayments	(825)	(206)
Ending balance	2,269	3,094
PGE CA 2020
Disclosure of detailed information about borrowings [line items]
Beginning balance	2,926	3,339
Repayments	(830)	(413)
Ending balance	2,096	2,926
PPR CA 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	1,780
Additions		1,780
Ending balance	1,780	1,780
PPR SG 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	1,780
Additions		1,780
Ending balance	1,780	1,780
PGE BPI France 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	1,780
Additions		1,780
Ending balance	1,780	1,780
BEI EMPRUNT PART 1 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	15,400
Additions		15,400
Ending balance	15,400	15,400
DETTE BSA BEI 2022
Disclosure of detailed information about borrowings [line items]
Beginning balance	9,876
Additions		9,469
Fair Value Variations	389	407
Ending balance	10,265	9,876
Royalty Certificates [Member]
Disclosure of detailed information about borrowings [line items]
Additions	5,100
Capitalized interest	1,227
Ending balance	6,327
Accrual Interests [Member]
Disclosure of detailed information about borrowings [line items]
Beginning balance	319	11
Additions		308
Capitalized interest	3,405
Ending balance	€ 3,724	€ 319

Financial debt - French state-g

Financial debt - French state-guaranteed loan ("PGE") and equity recovery loans ("PPR") (Details) € in Thousands	1 Months Ended		12 Months Ended			24 Months Ended
	Jun. 30, 2022 EUR (€) loan	May 31, 2020 EUR (€) agreement	Dec. 31, 2023 EUR (€) loan	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 EUR (€)	Jan. 18, 2024 EUR (€)
Guarantee Details
Loan obtained				€ 30,209
Total amount of loan							€ 25,000
Repayments of borrowings			€ 2,485	1,033	€ 13
Loan agreements with a syndicate of French banks
Guarantee Details
Number of loan agreements | loan	3
Total amount of loan	€ 5,300
Loan agreements with syndicate of French banks, under stimulus economic plan
Guarantee Details
Number of loan agreements | loan	2
Total amount of loan	€ 5,300
Loan agreements with syndicate of French banks, state guaranteed loan (Pret Garanti par l'Etat)
Guarantee Details
Percentage of loan guaranteed by French state	90%
Equity recovery loans
Guarantee Details
Number of loan agreements | loan			2
Financing period of loan	8 years
Repayment period for loan	4 years
Financing from a syndicate of French banks
Guarantee Details
Number of loans obtained guaranteed by the french state | agreement		3
Loan obtained		€ 10,000
Extension of term of debt		4 years
Number of loan agreements | loan	3
Repayments of borrowings			€ 2,500	€ 1,000		€ 3,500

Financial debt - Credit facilit

Financial debt - Credit facility agreement with the European Investment Bank (Details) € in Thousands				12 Months Ended
	Jan. 18, 2024 EUR (€)	Dec. 08, 2022 EUR (€)	May 16, 2022 EUR (€) tranche	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Financial debt
Notional amount	€ 25,000
Borrowings				€ 54,082	€ 44,390	€ 10,119	€ 10,055
Financial liabilities, at fair value				€ 92,594	63,760	€ 27,701
Finance contract with EIB
Financial debt
Notional amount			€ 50,000
Number of equal tranches | tranche			2
Notional amount per tranche			€ 25,000
Finance contract with EIB, Tranche A
Financial debt
Interest rate		8%	8%
Maturity term after the disbursement of the tranche		4 years	4 years
Borrowings, effective interest rate				21.91%
Capitalized interest				€ 3,400	300
Finance contract with EIB, Tranche A | Financial liabilities at amortized cost
Financial debt
Notional amount		€ 25,000
Borrowings		15,400		€ 21,400
Borrowings, effective interest rate				21.91%
Borrowing costs		€ 100
Finance contract with EIB, Tranche A | Financial liabilities at fair value
Financial debt
Actualization rate				22.20%
Financial liabilities, at fair value				€ 18,900
Finance contract with EIB, Tranche B
Financial debt
Notional amount					€ 25,000
Interest rate			7%
Maturity term after the disbursement of the tranche			3 years
Finance contract with EIB, Tranche B | Drawdown of borrowings
Financial debt
Interest rate	7%
Maturity term after the disbursement of the tranche	3 years

Financial debt - Derivatives (D

Financial debt - Derivatives (Details)				1 Months Ended	12 Months Ended
	Jan. 04, 2024 € / shares	Nov. 28, 2022 EUR (€) € / shares D shares	Jul. 01, 2022 € / shares shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2023 EUR (€) € / shares shares	Mar. 28, 2024 shares	Aug. 31, 2023 € / shares
Disclosure of detailed information about borrowings [line items]
Subscription price per share							€ 3.18
Finance Contract With European Investment Bank, Second Tranche [Member] | Issuance of warrants
Disclosure of detailed information about borrowings [line items]
Percentage of company's share capital outstanding, issued as warrants	6%
Exercise price of warrant	€ 3.95
BSA 2022
Disclosure of detailed information about borrowings [line items]
Number of equity instruments granted					2,266,023
Number of shares per instrument | shares		1		1	1.20
Subscription premium price per share (€)					€ 0.01
Exercise price (in euros)					€ 4.02
Number of BSA outstanding | shares		2,266,023		2,266,023	2,266,023
Stock price (€)		4.13		4.48	4.10
Maturity (years)		12 years		11 years 10 months 24 days	10 years 10 months 24 days
Volatility		68%		68%	62%
Cap of the put option (m€) | €		25,000		25,000	25,000
Fair value | €		€ 9,469,000		€ 9,876,000	€ 10,266,000
Unit fair value | €		4.18		4.36	4.53
Warrant agreement with the European Investment Bank
Disclosure of detailed information about borrowings [line items]
Subscription price per share			€ 0.01
Percentage of company's share capital outstanding, issued as warrants		5.40%			5.20%
Exercise price of warrant		€ 4.0152
Transaction costs on issue of warrants | €		€ 56,000
Number of shares per instrument | shares			1
Term over which volume weighted average price per share to determine number of warrants to be issued			180 days
Maturity term of warrants			12 years
Warrant agreement with the European Investment Bank | Ordinary shares
Disclosure of detailed information about borrowings [line items]
Number of shares per instrument | shares					1.20
Warrant agreement with the European Investment Bank | Finance contract with EIB, Tranche A | Issuance of warrants
Disclosure of detailed information about borrowings [line items]
Number of shares per instrument | shares						1.27
Warrant agreement with the European Investment Bank | Derivatives
Disclosure of detailed information about borrowings [line items]
Number of warrants issued | shares		2,266,023
Percentage of company's share capital outstanding, issued as warrants					5.20%
Exercise price of warrant		€ 4.0152
Maximum potential gross proceeds from exercise of warrants | €		€ 9,100,000
Threshold trading days of warrants | D		90

Financial debt - Lease liabilit

Financial debt - Lease liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Lease liabilities	€ 6,565	€ 4,510	€ 130
Increase (decrease) in lease liabilities	€ 2,100
Fibroscan machines
Disclosure of detailed information about borrowings [line items]
Additions to right-of-use assets		€ 5,100
Lease term	4 years	4 years
Lease liabilities | Minimum
Disclosure of detailed information about borrowings [line items]
Interest rate	1.89%	1.89%
Lease liabilities | Maximum
Disclosure of detailed information about borrowings [line items]
Interest rate	5.18%	5.18%

Financial debt - Royalty Certif

Financial debt - Royalty Certificates liabilities (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)	Jan. 18, 2024 EUR (€)	Aug. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Disclosure of detailed information about borrowings [line items]
Financial liabilities	€ 91,784			€ 63,760	€ 27,701
Borrowings	54,082			44,390	10,119	€ 10,055
Notional Amount		€ 25,000
Financial liabilities, at fair value	€ 92,594			€ 63,760	€ 27,701
Royalty certificates liabilities
Disclosure of detailed information about borrowings [line items]
Royalty certificates, effective interest rate	31.90%
Borrowings	€ 6,300		€ 5,100
Notional Amount			€ 5,100
Financial liabilities, at fair value	€ 9,600
Discount rate, measurement input [member] | Royalty certificates liabilities
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	0.249

Provisions (Details)

Provisions (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Long term provisions
Beginning balance		€ 2,377
Reversals		(2,377)
Short term provisions
Beginning balance	€ 180	130
Additions		51
Reversals	(180)
Closing balance		180
Total Provisions
Other provisions at beginning of period	180	2,507
Additions		51
Unused provision reversed, other provisions	(180)	(2,377)
Other provisions at end of period		180
Provision for tax adjustment risk in respect of payroll taxes for the years ended December 31, 2016, 2017 and 2018
Short term provisions
Beginning balance	180	130
Additions		51
Reversals	€ (180)
Closing balance		180
Provision For French Research Tax Credit elated To Tax Audit For Years Ended 2013 2014 And 2015 [Member]
Long term provisions
Beginning balance		1,497
Reversals		(1,497)
Provision For French Research Tax Credit Related To Tax Audit For Years Ended 2017 [Member]
Long term provisions
Beginning balance		880
Reversals		€ (880)

Provisions for retirement ben_3

Provisions for retirement benefit obligations - Principal actuarial assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions for retirement benefit obligations
Retirement age	65 years	65 years	65 years
Payroll taxes	41.41%	41.41%	41.41%
Salary growth rate	2%	2%	2%
Discount rate	3.20%	3.70%	1%
Threshold minimum maturity term for Eurozone AA rated corporate bonds	10 years

Provisions for retirement ben_4

Provisions for retirement benefit obligations - Net provision (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Provisions for retirement benefit obligations
Retirement benefit obligations	€ 1,559	€ 1,234	€ 1,429
Total Obligation	€ 1,559	€ 1,234	€ 1,429	€ 1,385

Provisions for retirement ben_5

Provisions for retirement benefit obligations - Changes in the net provision (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions for retirement benefit obligations
At beginning of period	€ (1,234)	€ (1,429)	€ (1,385)
Other changes			(75)
Expense for the period	(228)	(230)	(200)
Actuarial gains or losses recognized in other comprehensive income	(97)	425	82
At end of period	€ (1,559)	€ (1,234)	€ (1,429)

Provisions for retirement ben_6

Provisions for retirement benefit obligations - Breakdown of expense recognized for the year (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions for retirement benefit obligations
Service cost for the period	€ (183)	€ (237)	€ (224)
Interest cost for the period	(46)	(14)	(5)
Benefits for the period		21	29
Total	€ (228)	€ (230)	€ (200)

Provisions for retirement ben_7

Provisions for retirement benefit obligations - Breakdown of actuarial gains and losses recognized in comprehensive income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions for retirement benefit obligations
Demographic changes	€ (30)	€ 42	€ (27)
Changes in actuarial assumptions	(67)	383	109
Total	€ (97)	€ 425	€ 82
Discount rate	3.20%	3.70%	1%

Provisions for retirement ben_8

Provisions for retirement benefit obligations - Sensitivity analysis (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit obligation at December 31	€ 1,559	€ 1,234	€ 1,429
Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible increase or decrease in actuarial assumption	0.25%
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption (as a percent)	2.20%	2.30%	2.80%
Discount rate at 2.95%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage	2.95%
Benefit obligation at December 31	€ 1,595
Discount rate at 3.20%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage	3.20%
Benefit obligation at December 31	€ 1,559
Discount rate at 3.45%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage	3.45%	3.45%
Benefit obligation at December 31	€ 1,525
Discount rate at 3.45%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit obligation at December 31		€ 1,263
Discount rate at 3.70%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage		3.70%
Benefit obligation at December 31		€ 1,234
Discount rate at 3.95%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage		3.95%
Benefit obligation at December 31		€ 1,205
Discount rate at 0.75%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage			0.75%
Benefit obligation at December 31			€ 1,471
Discount rate at 1.00%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage			1%
Benefit obligation at December 31			€ 1,429
Discount rate at 1.25%
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Benefit Obligation Percentage			1.25%
Benefit obligation at December 31			€ 1,389

Other current and non-current_3

Other current and non-current liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade payables, short-term contract liabilities and other current liabilities
Employeerelated payables	€ 1,869	€ 1,866	€ 1,518
Accrued payroll and other employeerelated taxes	1,540	1,340	1,234
VAT payables	3,569	2,128	879
Other accrued taxes and employeerelated expenses	164	140	178
Other miscellaneous payables	23	12	2,979
Other current liabilities	€ 7,165	€ 5,485	€ 6,789

Other current and non-current_4

Other current and non-current liabilities - Additional information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade Payable And Other Current Liabilities [Line Items]
Other non-current liabilities	€ 1,032
Decrease in other current liabilities	1,700	€ (1,300)
Decrease in other miscellaneous liabilities		(3,000)
Increase in VAT payable	1,400	€ 1,200
Licensing and collaboration agreement with CTTQ
Trade Payable And Other Current Liabilities [Line Items]
Other non-current liabilities	€ 1,000
Provision For Tax Audit For The Years Ended December 31, 2016 And December 31, 2017 [Member]
Trade Payable And Other Current Liabilities [Line Items]
Payroll taxes payable			€ 1,200
Provision For CIR Related To Tax Audit For Years 2013 To 2015 [Member]
Trade Payable And Other Current Liabilities [Line Items]
Payroll taxes payable			€ 1,600

Trade payables, short-term co_3

Trade payables, short-term contract liabilities and other current liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade payables, short-term contract liabilities and other current liabilities
Trade payables	€ 37,679	€ 19,359	€ 14,602
Short-term contract liabilities	6	6
Trade payables and other current liabilities	37,685	19,364	14,602
Accrued expenses	12,900	€ 11,200	€ 6,800
Accrued liabilities relating to scientific projects	€ 11,300

Trade payables break down (Deta

Trade payables break down (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade Payable And Other Current Liabilities [Line Items]
Trade payable	€ 37,679	€ 19,359	€ 14,602
Increase in trade accounts payable	18,300
Due in 30 days
Trade Payable And Other Current Liabilities [Line Items]
Trade payable	24,995	19,156	14,445
Due in 30-60 days
Trade Payable And Other Current Liabilities [Line Items]
Trade payable	€ 12,684	201	€ 158
Due in more than 60 days
Trade Payable And Other Current Liabilities [Line Items]
Trade payable		€ 2

Financial assets and liabilit_3

Financial assets and liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial assets and liabilities
Financial assets	€ 41,706	€ 90,014	€ 102,972
Financial liabilities	91,784	63,760	27,701
Financial assets, at fair value	41,706	90,014	102,972
Financial liabilities, at fair value	92,594	63,760	27,701
Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	81,518	53,884	27,701
Financial liabilities carried at fair value through profit or loss
Financial assets and liabilities
Financial liabilities	10,265	9,876
Long-term debt
Financial assets and liabilities
Financial liabilities	32,181	28,663	8,837
Financial liabilities, at fair value	29,701	28,663	8,837
Long-term debt | Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	32,181	28,663	8,837
Derivative instruments
Financial assets and liabilities
Financial liabilities	10,265	9,876
Financial liabilities, at fair value	10,265	9,876
Derivative instruments | Financial liabilities carried at fair value through profit or loss
Financial assets and liabilities
Financial liabilities	10,265	9,876
Royalty certificates liabilities
Financial assets and liabilities
Financial liabilities	6,327
Financial liabilities, at fair value	9,617
Royalty certificates liabilities | Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	6,327
Short-term debt
Financial assets and liabilities
Financial liabilities	5,308	5,851	1,282
Financial liabilities, at fair value	5,308	5,851	1,282
Short-term debt | Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	5,308	5,851	1,282
Trade payables
Financial assets and liabilities
Financial liabilities	37,679	19,359	14,602
Financial liabilities, at fair value	37,679	19,359	14,602
Trade payables | Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	37,679	19,359	14,602
Other miscellaneous payables
Financial assets and liabilities
Financial liabilities	23	12	2,979
Financial liabilities, at fair value	23	12	2,979
Other miscellaneous payables | Liabilities carried at amortized cost
Financial assets and liabilities
Financial liabilities	23	12	2,979
Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	41,706	90,014	94,143
Financial assets carried at fair value through profit or loss
Financial assets and liabilities
Financial assets			8,829
Long-term accrued income
Financial assets and liabilities
Financial assets		65	92
Financial assets, at fair value		65	92
Long-term accrued income | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets		65	92
Long-term deposit accounts
Financial assets and liabilities
Financial assets	9,000	700	1,745
Financial assets, at fair value	9,000	700	1,745
Long-term deposit accounts | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	9,000	700	1,745
Long-term security deposits
Financial assets and liabilities
Financial assets	8	8	8
Financial assets, at fair value	8	8	8
Long-term security deposits | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	8	8	8
Advance payment
Financial assets and liabilities
Financial assets	1,047	895	689
Financial assets, at fair value	1,047	895	689
Advance payment | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	1,047	895	689
Current accrued income
Financial assets and liabilities
Financial assets		117
Financial assets, at fair value		117
Current accrued income | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets		117
Short-term deposit accounts
Financial assets and liabilities
Financial assets	70	1,048	8,829
Financial assets, at fair value	70	1,048	8,829
Short-term deposit accounts | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	70	1,048
Short-term deposit accounts | Financial assets carried at fair value through profit or loss
Financial assets and liabilities
Financial assets			8,829
Trade receivables
Financial assets and liabilities
Financial assets	3,807		4,000
Financial assets, at fair value	3,807		4,000
Trade receivables | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	3,807		4,000
Other receivables
Financial assets and liabilities
Financial assets	857	444	1,055
Financial assets, at fair value	857	444	1,055
Other receivables | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	857	444	1,055
Cash and cash equivalents
Financial assets and liabilities
Financial assets	26,918	86,736	86,553
Financial assets, at fair value	26,918	86,736	86,553
Cash and cash equivalents | Financial assets carried at amortized cost
Financial assets and liabilities
Financial assets	€ 26,918	€ 86,736	€ 86,553

Revenues and other income (Deta

Revenues and other income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues and other income
Revenue	€ 17,477	€ 12,179	€ 4,194
Total revenues	17,477	12,179	4,194
Tax Credits	5,333	5,863	4,069
Subsidies	9	10	8
Other	344	762	229
Total other income	5,686	6,635	4,307
Total revenues and other income	€ 23,163	€ 18,814	€ 8,501

Revenues and Other Income - Add

Revenues and Other Income - Additional information (Details) € / shares in Units, $ in Millions																			1 Months Ended	12 Months Ended
	Dec. 29, 2023 EUR (€) $ / €	Dec. 29, 2023 USD ($) $ / €	Dec. 12, 2023 EUR (€)	Dec. 12, 2023 USD ($)	Oct. 11, 2023 EUR (€) € / shares	Sep. 26, 2023 ¥ / shares	Sep. 26, 2023 € / shares	Sep. 20, 2023 EUR (€) ¥ / shares	Sep. 20, 2023 EUR (€) € / shares	Jul. 19, 2023 EUR (€) $ / €	Jul. 19, 2023 USD ($) $ / €	May 22, 2023 EUR (€) $ / €	May 22, 2023 USD ($) $ / €	Nov. 04, 2022 EUR (€)	Nov. 04, 2022 USD ($)	Sep. 28, 2022 EUR (€)	Sep. 28, 2022 USD ($)	Sep. 22, 2022 USD ($) Milestone item	Nov. 30, 2023 EUR (€)	Dec. 31, 2023 EUR (€) $ / €	Dec. 31, 2022 EUR (€) $ / €	Dec. 31, 2021 EUR (€) $ / €	Oct. 11, 2023 USD ($)	Sep. 20, 2023 USD ($)
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																				€ 17,477,000	€ 12,179,000	€ 4,194,000
Revenues																				€ 17,477,000	€ 12,179,000	€ 4,194,000
Amount invoiced to counterparty	€ 2,600,000									€ 1,700,000
Amount invoiced to counterparty for milestone payment			€ 2,900,000									€ 1,900,000
Amount invoiced to counterparty for additional payment			100,000									100,000
Amount received attributable to withholding taxes			2,800,000									1,800,000		€ 1,300,000
Average exchange rate for the period | $ / €																				1.0813	1.0530	1.1827
Research tax credits																				€ 5,300,000
Exchange rate | $ / €	1.080	1.080								1.082	1.082									1.1050	1.0666	1.1326
Revenue From Research Partnerships
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																						€ 4,200,000
Revenues																						4,200,000
AbbVie
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Milestone payments received																						€ 4,000,000
Licensing and collaboration agreement with CTTQ
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																				€ 4,610,000	€ 12,100,000
Revenues																				4,610,000	12,100,000
Upfront payment receivable | $																		$ 12
Number of development and regulatory milestones | Milestone																		6
Maximum additional amount receivable upon the achievement of certain development and regulatory milestones | $															$ 40			$ 40
Number of successive targets | item																		6
Maximum additional amount receivable upon the achievement of certain commercial milestones | $															250			$ 250
Maximum potential Regulatory and Commercial Milestone payments receivable | $																		290
Amount invoiced to counterparty			2,900,000	$ 3.2								1,900,000	$ 2.1			€ 12,800,000	$ 12.6
Amount invoiced to counterparty for milestone payment			2,800,000	3								1,800,000	2			600,000	12
Amount invoiced to counterparty for additional payment			€ 100,000	$ 0.2								€ 100,000	0.1			€ 12,100,000	$ 0.6
Amount received on licensing arrangements		$ 2.8									$ 1.9			€ 11,500,000	11.4
Amount received attributable to withholding taxes	€ 300,000	$ 0.3								€ 200,000	$ 0.2		$ 0.2		$ 1.3					500,000
Milestone payments received																				€ 4,300,000
Exchange rate | $ / €	1.080	1.080								1.009	1.009	1.082	1.082
Number of performance obligations in contract																				3
Licensing and collaboration agreement with CTTQ | Upfront payment
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																					12,000,000
Revenues																					12,000,000
Upfront payment receivable | $																		$ 12
Licensing and collaboration agreement with CTTQ | Royalties on commercial sales
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																					0
Revenues																					€ 0
Licensing agreement with Hepalys
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Revenue																			€ 12,700,000	€ 12,750,000
Revenues																			€ 12,700,000	€ 12,750,000
Upfront payment receivable | $																								$ 10
Number of development and regulatory milestones								4	4
Maximum additional amount receivable upon the achievement of certain development and regulatory milestones | $																								37.5
Number of successive targets								5	5
Maximum additional amount receivable upon the achievement of certain commercial milestones | $																								193.6
Maximum potential Regulatory and Commercial Milestone payments receivable | $																								231
Number of performance obligations in contract																				1
Licensing agreement with Hepalys | Hepalys Pharma, Inc
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Upfront payment receivable								€ 9,300,000	€ 9,300,000															$ 10
Catalys Option Agreement | Hepalys Pharma, Inc
Ifrs Collaborative Arrangement And Arrangement Other Than Collaborative [Line items]
Option to acquire shares in company, percentage						30%	30%	30%	30%															30%
Purchase of interests in investments accounted for using equity method, price per share | (per share)					€ 1.90	¥ 300	€ 1.90	€ 300	€ 1.90
Fair value of option to acquire shares in associate					€ 3,400,000			€ 3,400,000	€ 3,400,000														$ 3.6	$ 3.6

Operating expenses (Details)

Operating expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating expenses
Disposables	€ (1,799)	€ (1,681)	€ (1,472)
Energy and liquids	(900)	(633)	(513)
Patents	(551)	(510)	(543)
Studies	(88,162)	(42,377)	(33,004)
Maintenance	(1,017)	(995)	(1,017)
Fees	(4,434)	(4,587)	(3,044)
IT systems	(951)	(960)	(806)
Support costs (including taxes)	(1,240)	(1,971)	(782)
Personnel costs	(18,535)	(15,332)	(13,413)
Depreciation, amortization and provisions	(2,527)	(1,683)	(927)
Other operating expenses	(5,714)	(5,234)	(4,450)
Total operating expenses	(125,828)	(75,965)	(59,971)
Research and development costs
Operating expenses
Disposables	(1,799)	(1,681)	(1,472)
Energy and liquids	(900)	(633)	(513)
Patents	(551)	(510)	(543)
Studies	(88,162)	(42,375)	(33,004)
Maintenance	(1,017)	(995)	(1,017)
Fees	(135)	(175)	(160)
IT systems	(845)	(852)	(744)
Support costs (including taxes)	0
Personnel costs	(13,568)	(11,149)	(9,645)
Depreciation, amortization and provisions	(2,317)	(1,462)	(751)
Other operating expenses	(719)	(637)	(602)
Total operating expenses	(110,012)	(60,469)	(48,452)
Marketing - business development expenses
Operating expenses
Fees	(215)	(570)	(138)
IT systems	(16)	(16)	(9)
Support costs (including taxes)	(473)	(1,280)
Personnel costs	(224)	(219)	(213)
Other operating expenses	(1,051)	(499)	(4)
Total operating expenses	(1,980)	(2,583)	(364)
General and administrative expenses
Operating expenses
Studies		(2)
Fees	(4,084)	(3,843)	(2,746)
IT systems	(90)	(92)	(52)
Support costs (including taxes)	(767)	(692)	(782)
Personnel costs	(4,743)	(3,964)	(3,556)
Depreciation, amortization and provisions	(209)	(220)	(176)
Other operating expenses	(3,944)	(4,099)	(3,844)
Total operating expenses	€ (13,837)	€ (12,912)	€ (11,155)

Operating expenses - Personnel

Operating expenses - Personnel costs and headcount (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) employee	Dec. 31, 2022 EUR (€) employee	Dec. 31, 2021 EUR (€) employee
Operating expenses
Number of employees | employee	123	113	105
Wages, salaries and similar costs	€ (11,007)	€ (9,814)	€ (8,097)
Payroll taxes	(3,376)	(3,069)	(3,010)
Provisions for retirement benefit obligations	(183)	(231)	(216)
Share-based payments	(3,969)	(2,218)	(2,089)
Total personnel costs	€ (18,535)	(15,332)	(13,413)
Inventiva S.A [Member]
Operating expenses
Number of employees | employee	114
Inventiva Inc [Member]
Operating expenses
Number of employees | employee	9
Research and development costs
Operating expenses
Wages, salaries and similar costs	€ (8,376)	(7,382)	(6,031)
Payroll taxes	(2,394)	(2,213)	(2,173)
Provisions for retirement benefit obligations	(124)	(157)	(148)
Share-based payments	(2,673)	(1,397)	(1,293)
Total personnel costs	(13,568)	(11,149)	(9,645)
Marketing - Business development expenses
Operating expenses
Wages, salaries and similar costs	(181)	(190)	(199)
Payroll taxes	(19)	(16)
Share-based payments	(25)	(13)	(13)
Total personnel costs	(224)	(219)	(213)
General and administrative expenses
Operating expenses
Wages, salaries and similar costs	(2,450)	(2,242)	(1,867)
Payroll taxes	(963)	(841)	(838)
Provisions for retirement benefit obligations	(58)	(73)	(68)
Share-based payments	(1,272)	(808)	(783)
Total personnel costs	€ (4,743)	€ (3,964)	€ (3,556)

Operating expenses - Additional

Operating expenses - Additional Information (Details) - EUR (€) € in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating expenses
Withholding tax (as a percent)	10%			10%
Withholding taxes	€ 1.3
Specific costs related to CRO expenses for clinical trials		€ 4
Reversal of share-based compensation expense			€ 0.8

Other operating income and ex_3

Other operating income and expenses - (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other operating income and expenses
Proceeds - Disposals of fixed assets			€ 9
Reversal of impairment on the carry back receivable			333
Total other operating income		€ 294	2,720
Disposals of assets		9
Provision for risk on payroll taxes			51
Accrued expenses to be paid to the tax authorities - CIR 2013 to 2015			1,584
Late payment interest on CIR 2013-2015		123
Waiver claim			640
CIR provision			137
Transaction costs	€ 44	121	952
Total other operating expenses	(44)	(254)	(3,364)
Other operating income (expenses)	€ (44)	40	(644)
CIR 2013 - 2015
Other operating income and expenses
Reversal of provision			2,377
CIR 2017
Other operating income and expenses
Reversal of provision			900
Waiver claim			600
Tax Litigation
Other operating income and expenses
Reversal of provision		180	1,497
AMR Penalties
Other operating income and expenses
Reversal of provision		€ 114	€ 880

Other operating income and ex_4

Other operating income and expenses - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other operating income and expenses
Increase (decrease) in other operating expense	€ (3,100)
Increase (decrease) in other operating income	€ (2,400)
Reversal of provisions			€ 2,377
Waiver claim		€ 640
Reversal of impairment on the carry back receivable		333
Insurance costs		800
Provision related to tax audit for the years ended december 2016 and 2017
Other operating income and expenses
Accrued expense		1,200
CIR 2017
Other operating income and expenses
Reversal of provisions			880
Waiver claim		600
CIR 2013 - 2015
Other operating income and expenses
Reversal of provisions			€ 1,497
Accrued expense		€ 1,600

Financial income and expenses_2

Financial income and expenses (Details) - EUR (€) € in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial income and expenses
Income from cash equivalents				€ 991	€ 390	€ 57
Foreign exchange gains				797	4,532	5,421
Total financial income				1,788	4,923	5,478
Interest cost				(5,178)	(584)	(138)
Foreign exchange losses				(1,269)	(1,068)	(1,842)
Losses on fair value variation				(389)	(407)	(651)
Other financial expenses				(46)	(47)	(5)
Total financial expenses				(6,882)	(2,107)	(2,635)
Financial income (loss)				(5,095)	2,816	€ 2,842
Foreign exchange gains on short term deposit unwinding	€ 8,000	€ 15,000	€ 8,000		€ 2,400
Finance contract with EIB
Financial income and expenses
Interest expense on borrowings				3,400
Royalty Certificate
Financial income and expenses
Interest expense on borrowings				400
Lease liabilities
Financial income and expenses
Interest expense on borrowings				€ 200

Share of net profit - Equity _3

Share of net profit - Equity method (Details) - EUR (€) € in Thousands				1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Oct. 11, 2023	Sep. 29, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments accounted for using the equity method
General and administrative expenses						€ (13,837)	€ (12,912)	€ (11,155)
Net operating loss						(102,709)	(57,110)	(52,114)
Financial income						1,788	4,923	5,478
Financial expenses						(6,882)	(2,107)	(2,635)
Net financial income						(5,095)	2,816	2,842
Income tax						(607)	20	(364)
Net loss for the period						(110,426)	(54,274)	(49,635)
Exchange difference on translation of foreign operations						833	(107)	(164)
Items that will not be reclassified subsequently to profit or loss						(97)	425	82
Total comprehensive loss						(109,657)	€ (53,955)	€ (49,717)
Share of net profit - Equity method						€ (2,015)
Hepalys Pharma, Inc
Investments accounted for using the equity method
Group's share in %	15%	15%	15%	15%	15%	15%
Share of net loss					€ (134)
Elimination of downstream sales					(1,881)
Share of net profit - Equity method					(2,015)
Hepalys Pharma, Inc
Investments accounted for using the equity method
General and administrative expenses						€ (1,028)
Net operating loss						(1,028)
Financial income						85
Financial expenses						(162)
Net financial income						(77)
Income tax						(6)
Net loss for the period	€ (879)				(879)	(1,111)
Exchange difference on translation of foreign operations					231	255
Items that will not be reclassified subsequently to profit or loss					231	255
Total comprehensive loss					€ (647)	€ (857)

Income tax (Details)

Income tax (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Loss before tax	€ (109,819)	€ (54,294)	€ (49,271)
Theoretical tax rate	25%	25%	26.50%
Tax benefit at theoretical rate	€ 27,455	€ 13,574	€ 13,057
Tax credits	1,794	1,432	1,078
Permanent differences	(497)	(733)	(497)
Temporary differences	(30)
Tax rate differences	83	55	(80)
Non recognition of deferred tax assets related to tax losses and temporary differences	(28,930)	(14,309)	(13,921)
Impairment loss of deferred tax asset	(481)
Actual income tax benefit	(607)	20	(364)
Current taxes	(62)	(34)	€ (364)
Deferred taxes	€ 545	€ (54)
Effective tax rate	0.06%	0.06%	0.74%
Deferred tax asset	€ 225
Tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	0
Inventiva Inc.
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Tax expense from derecognition of deferred tax assets	500
Inventiva S.A | Tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items]
Deferred tax asset	€ 0	€ 0	€ 0

Basic and diluted loss per sh_3

Basic and diluted loss per share (Details) - EUR (€) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic and diluted loss per share
Net loss for the period	€ (110,426)	€ (54,274)	€ (49,635)
Weighted average number of shares outstanding used to calculate basic loss per share	45,351,799	41,449,732	39,168,152
Weighted average number of shares outstanding used to calculate diluted loss per share	45,351,799	41,449,732	39,168,152
Basic loss per share	€ (2.43)	€ (1.31)	€ (1.27)
Diluted loss per share	€ (2.43)	€ (1.31)	€ (1.27)

Commitments related to operat_3

Commitments related to operational activities (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 26, 2023	Jan. 14, 2022	Apr. 30, 2021
Disclosure of detailed information about financial instruments [line items]
Commitment amount	€ 221,135
Contract CRO with Pharmaceutical Research Associates B.V.
Disclosure of detailed information about financial instruments [line items]
Amount committed to pay	163,300	€ 226,600		€ 8,800
Bonus or malus maximum amount			€ 2,400		€ 3,400
Commitment amount	€ 183,366
Licensing and collaboration agreement with CTTQ
Disclosure of detailed information about financial instruments [line items]
Amount committed to pay		19,200
Bonus or malus maximum amount		€ 2,400

Commitments related to operat_4

Commitments related to operational activities - Commitments given and received (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)
Disclosure of detailed information about financial instruments [line items]
Total commitments given	€ 221,135
Agreements concerning the provision of facilities	260
Total commitments received	260
Contract CRO with Pharmaceutical Research Associates B.V.
Disclosure of detailed information about financial instruments [line items]
Total commitments given	183,366
CMO
Disclosure of detailed information about financial instruments [line items]
Total commitments given	5,733
Lease
Disclosure of detailed information about financial instruments [line items]
Total commitments given	8,595
Others
Disclosure of detailed information about financial instruments [line items]
Total commitments given	€ 23,442

Related party transactions - Su

Related party transactions - Summary of transactions with key management personnel (Details) - Executive and corporate officers - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related-party transactions
Short-term benefits	€ 1,995	€ 1,897	€ 1,517
Post-employment benefits	101	(14)	92
Share-based payment	1,584	1,077	907
Net total	€ 3,680	€ 2,960	€ 2,516

Related-party transactions (Det

Related-party transactions (Details) - EUR (€) € in Thousands	May 25, 2023	Dec. 31, 2023	Dec. 15, 2023
Related-party transactions
Percentage of severance payment capped on salary	200%
Payables for severance costs		€ 0
Pierre Broqua
Related-party transactions
Amount payable to related parties for transfer of patent intellectual property rights, conditional amount		50
Amount payable to related parties for transfer of patent intellectual property rights, unconditional amount		€ 50
Pierre Broqua | Maximum
Related-party transactions
Amount payable to related parties for transfer of patent intellectual property rights			€ 100

Financial risk management - Exp

Financial risk management - Exposure to foreign exchange risk (Details) € in Millions, $ in Millions		10 Months Ended	12 Months Ended
	Jul. 15, 2020 USD ($)	May 14, 2021 USD ($) contract	Dec. 31, 2021 USD ($)	Jan. 18, 2024 EUR (€)	Dec. 31, 2020 USD ($)
Financial risk management
Gross proceeds from initial public offering	$ 107.7
Total amount of loan | €				€ 25
Foreign currency forwards
Financial risk management
Number of foreign currency forward contracts | contract		3
Total amount of loan		$ 60			$ 60
ATM
Financial risk management
Gross proceeds from initial public offering			$ 31.9

Financial risk management - E_2

Financial risk management - Exposure to foreign exchange risk - Sensitivity Analysis (Details) € in Thousands, $ in Thousands	Dec. 31, 2023 EUR (€) $ / €	Dec. 31, 2023 USD ($) $ / €	Dec. 29, 2023 $ / €	Jul. 19, 2023 $ / €	Dec. 31, 2022 EUR (€) $ / €	Dec. 31, 2021 EUR (€) $ / €
Financial risk management
Assets, fair value | €	€ 41,706				€ 90,014	€ 102,972
Closing foreign exchange rate | $ / €	1.1050	1.1050	1.080	1.082	1.0666	1.1326
Exposure to foreign exchange risk | USD
Financial risk management
Percentage of reasonably possible increase (decrease) in risk assumption	5%	5%
Closing foreign exchange rate | $ / €	1.11	1.11
Foreign exchange rate with reasonably possible increase in risk assumption | $ / €	1.16	1.16
Inflation Risk | Minimum
Financial risk management
Percentage of reasonably possible increase (decrease) in risk assumption	5%	5%
Inflation Risk | Maximum
Financial risk management
Percentage of reasonably possible increase (decrease) in risk assumption	10%	10%
Derivatives Risk
Financial risk management
Percentage of reasonably possible increase or decrease in volatility	1%	1%
Increase or decrease in fair value of warrants due to reasonably possible increase or decrease in volatility | €	€ 110
Cash and Cash equivalents
Financial risk management
Assets, fair value | €	26,918				€ 86,736	€ 86,553
Cash and Cash equivalents | Exposure to foreign exchange risk | USD
Financial risk management
Assets, fair value | $		$ 4,649
Impact of a 5% change in fair value | $		(221)
Short-term deposit accounts
Financial risk management
Assets, fair value | €	€ 70				€ 1,048	€ 8,829
Short-term deposit accounts | Exposure to foreign exchange risk | USD
Financial risk management
Assets, fair value | $		2,715
Impact of a 5% change in fair value | $		$ (129)

Events after the reporting da_2

Events after the reporting date (Details)								12 Months Ended
	Mar. 07, 2024	Jan. 18, 2024 EUR (€) shares	Jan. 04, 2024 EUR (€) € / shares shares	Dec. 08, 2022 EUR (€)	Nov. 28, 2022 € / shares shares	Aug. 03, 2022	May 16, 2022 EUR (€)	Dec. 31, 2023 shares	Dec. 31, 2022 EUR (€)	Mar. 28, 2024 shares	Jul. 01, 2022 EUR (€) shares
Events after the reporting date
Notional amount		€ 25,000,000
Subscription of borrowings									€ 30,209,000
Finance contract with EIB
Events after the reporting date
Notional amount							€ 50,000,000
Finance contract with EIB, first tranche (Tranche A)
Events after the reporting date
Subscription of borrowings				€ 25,000,000
Interest rate				8%			8%
Maturity term after the disbursement of the tranche				4 years			4 years
Aggregate amount to be received under the conditions precedent to the EIB Financing							€ 18,000,000
Finance contract with EIB, first tranche (Tranche A) | Financial liabilities at amortized cost
Events after the reporting date
Notional amount				€ 25,000,000
Finance contract with EIB, second tranche (Tranche B)
Events after the reporting date
Notional amount									€ 25,000,000
Interest rate							7%
Maturity term after the disbursement of the tranche							3 years
Aggregate amount to be received under the conditions precedent to the EIB Financing							€ 70,000,000
Minimum upfront payments for out-licensing, partnership or royalty transaction							€ 10,000,000
Warrant agreement with the European Investment Bank
Events after the reporting date
Number of warrants issued | shares					2,266,023			2,266,023
Percentage of company's share capital outstanding, issued as warrants					5.40%			5.20%
Exercise price of warrant | € / shares					€ 4.0152
Number of shares per instrument | shares											1
Warrant agreement with the European Investment Bank | Finance contract with EIB
Events after the reporting date
Notional amount											€ 50,000,000
NATiV3 Phase III trial of lanifibranor in non-cirrhotic NASH
Events after the reporting date
Treatment period under study						168 days
LEGEND Phase IIa combination trial with lanifibranor and empagliflozin in patients with MASH/NASH and T2D [Member]
Events after the reporting date
Treatment period under study	168 days
Issuance of warrants | Finance contract with EIB
Events after the reporting date
Percentage of share capital held by counterparty if all outstanding warrants are exercised			10.30%
Issuance of warrants | Finance contract with EIB, second tranche (Tranche B)
Events after the reporting date
Number of warrants issued | shares			3,144,654
Percentage of company's share capital outstanding, issued as warrants			6%
Exercise price of warrant | € / shares			€ 3.95
Exercise price of warrants as a percentage of volume-weighted average price of the Company's shares			95%
Term of warrants			12 years
Shares issuable upon exercise of warrants | shares			3,144,654
Maximum gross proceeds			€ 12,421,383
Issuance of warrants | Warrant agreement with the European Investment Bank | Finance contract with EIB, first tranche (Tranche A)
Events after the reporting date
Number of shares per instrument | shares										1.27
Drawdown of borrowings | Finance contract with EIB
Events after the reporting date
Subscription of borrowings		25,000,000
Drawdown of borrowings | Finance contract with EIB, first tranche (Tranche A)
Events after the reporting date
Aggregate amount to be received under the conditions precedent to the EIB Financing		€ 18,000,000
Drawdown of borrowings | Finance contract with EIB, second tranche (Tranche B)
Events after the reporting date
Number of warrants issued | shares		3,144,654
Subscription of borrowings		€ 25,000,000
Interest rate		7%
Maturity term after the disbursement of the tranche		3 years
Aggregate amount to be received under the conditions precedent to the EIB Financing		€ 70,000,000
Minimum upfront payments for out-licensing, partnership or royalty transaction		€ 10,000,000
First approval from the central IRB overseeing clinical research in the United States | NATiV3 Phase III trial of lanifibranor in non-cirrhotic NASH
Events after the reporting date
Number of sites operating under central IRB overseeing	152
Percentage of patients randomized in the main cohort	60%
Presentation of results from study | LEGEND Phase IIa combination trial with lanifibranor and empagliflozin in patients with MASH/NASH and T2D [Member]
Events after the reporting date
Treatment period under study	168 days