Vivani Medical Q1 EPS Down 11% Amid Ongoing Biopharmaceutical Development

Vivani Medical reported Q1 basic EPS of USD -0.11. The biopharmaceutical company is developing ultra-long-acting drug implants using its NanoPortal platform. Its lead program, NPM-115, is a six-month subdermal GLP-1 implant for chronic weight management, while NPM-139 is also under development for the same indication. NPM-119 is a Type II diabetes development program, and OKV-119 is an exenatide implant for metabolic diseases in cats.

Vivani Medical, Inc. (Nasdaq: VANI) reported its first-quarter 2025 results, with a basic EPS of USD -0.11. The biopharmaceutical company continues to advance its ultra-long-acting drug implants using its proprietary NanoPortal platform. The company's lead program, NPM-115, is a six-month subdermal GLP-1 implant for chronic weight management, while NPM-139 is also under development for the same indication. Additionally, NPM-119 is a Type II diabetes development program, and OKV-119 is an exenatide implant for metabolic diseases in cats.

In Q1 2025, Vivani reported a cash balance of $14.3 million, a decrease of $5.4 million from the previous quarter, primarily due to a net loss of $6.3 million. Research and development expenses increased by 13% to $4.2 million, while general and administrative expenses decreased by 6% to $2.3 million. Other income, net, remained relatively unchanged at $0.3 million.

The company announced a $3.0 million equity financing, bringing the total equity financing to approximately $11.25 million. This funding is expected to secure Vivani's financial position through mid-2026. Additionally, Vivani announced promising preclinical data for NPM-139, its subdermal semaglutide implant for chronic weight management in obese and overweight individuals.

Vivani also plans to spin off Cortigent, Inc., a division focused on brain implant devices, as an independent publicly traded company. This strategic move aims to create two companies dedicated to driving value in their respective therapeutic areas.

Vivani anticipates top-line data from the LIBERATE-1 study, a Phase 1 trial of a miniature, ultra long-acting GLP-1 (exenatide) implant, in mid-2025. The company will also participate in the BIO International Convention from June 16 to 19, 2025, where it will present its findings and engage with potential investors and strategic partners.

References:
[1] https://www.streetinsider.com/Globe+Newswire/Vivani+Medical+Provides+Business+Update+Including+%243M+Equity+Financing+and+Reports+First+Quarter+2025+Financial+Results/24789552.html