SCHEDULE 13G: Invus Entities Disclose 7.8% Passive Stake in Inventiva S.A.

Invus Public Equities, L.P. and its affiliated entities have reported a 7.8% beneficial ownership stake in Inventiva S.A., held for passive investment purposes.

Summary

• Invus Public Equities, L.P., along with its related entities (Invus Public Equities Advisors, LLC, Invus Global Management, LLC, Siren, L.L.C., and Raymond Debbane), collectively reported beneficial ownership of 7,407,406 ordinary shares of Inventiva S.A.
• This ownership represents 7.8% of Inventiva S.A.'s outstanding ordinary shares, calculated based on 94,949,759 shares outstanding as reported by Inventiva S.A. on December 16, 2024.
• The filing indicates that the shares were acquired and are held for passive investment purposes, with no intent to change or influence control of the issuer.
• As of October 17, 2024, Invus Public Equities, L.P. directly held 7,182,792 ordinary shares.
• As of the filing date, March 31, 2025, Invus Public Equities, L.P. directly holds 7,407,406 ordinary shares, indicating a slight increase in their direct holding since the event date.
• Inventiva S.A.'s American Depositary Shares (ADS) are quoted on the Nasdaq Global Market under the symbol 'IVA', with each ADS representing 1 ordinary share.

Sentiment

Score: 7

Explanation: The filing indicates a significant passive investment by a reputable institutional investor, which is generally a positive signal of confidence in the company. However, it provides no operational or financial details about the company itself, limiting a comprehensive sentiment assessment.

Positives

• A significant institutional investor, Invus Public Equities, L.P., has taken a substantial 7.8% passive stake in Inventiva S.A., which can be interpreted as a vote of confidence in the company's long-term prospects.
• The explicit statement that the investment is for passive purposes suggests no immediate intent to disrupt management or operations, providing stability for the company.

Negatives

• The document, being a beneficial ownership report, does not contain any negative financial or operational information about Inventiva S.A.

Risks

• The document itself does not detail specific risks related to Inventiva S.A.'s operations or financial health, as it is a Schedule 13G filing focused solely on beneficial ownership.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Inventiva S.A.'s future performance or strategic direction, as it is a beneficial ownership report.

Management Comments

• Raymond Debbane, on behalf of the reporting persons, certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing is a standard disclosure of a significant passive investment by an institutional entity in a publicly traded company. It does not provide specific industry trends or competitive analysis, but indicates continued institutional interest in the biotechnology or pharmaceutical sector, where Inventiva S.A. likely operates given its name.

Comparison to Industry Standards

• This document is a beneficial ownership filing and does not contain financial or operational results that can be compared to industry benchmarks or specific comparable companies/projects. It merely reports a passive ownership stake.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by an institutional investor may be viewed positively, potentially increasing investor confidence and liquidity.
• Company Management: The certification that the investment is passive suggests no immediate challenge to current management or strategic direction.

Next Steps

• The document does not outline any specific future actions, events, or milestones for Inventiva S.A. or the reporting persons beyond the ongoing passive investment.

Key Dates

Keywords

Inventiva S.A., IVA, Schedule 13G, Beneficial Ownership, Invus Public Equities, Institutional Investor, Passive Investment, SEC Filing, Ordinary Shares, American Depositary Shares