Vivani Medical reports Q3 net income $1.4M on merger gain; NPM-119 on track for IND early 2023

Vivani Medical, Inc.

2022-Q3 EPS reported -$0.18

Net income of $1.4M in Q3 2022 vs net loss of $3.5M in Q3 2021, driven by $6.9M bargain purchase gain from merger.
Cash and equivalents $51.7M as of Sep 30, 2022; estimated to fund operations into second half of 2024.
R&D expenses $3.9M (up 34% YoY); G&A $1.6M (up 167% YoY) due to higher headcount from merger.
NPM-119 GLP-1 implant IND filing and LIBERATE-1 Phase 2 start expected early 2023; top-line results anticipated late 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vivani Medical, Inc. reported the third quarter ended September 30, 2022 results: net income $1.4 million.

Period: the third quarter ended September 30, 2022
Net income: $1.4 million
Result: reported results

Exact text from the filing

Net income was $1.4 million in the third quarter of 2022, compared to a net loss of $3.5 million in the third quarter of 2021.

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Vivani Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001753926-22-001463

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