Vivani Medical Q1 net loss $6.3M; maintains IND filing timeline for NPM-119

Vivani Medical, Inc.

Cash $38.1M at March 31, 2023, down from $45.1M; sufficient to fund operations into H2 2024.
R&D expense $4.0M (+48% YoY); operating expenses $6.6M (+69% YoY) driven by Second Sight acquisition costs.
Net loss $6.3M vs $3.9M in Q1 2022; increase due to $2.7M higher operating expenses.
Plans to file NPM-119 IND with FDA by mid-2023; if cleared, initiate LIBERATE-1 trial in Q3 2023 with top-line data in H1 2024.
Expects to complete Cortigent IPO in Q3 2023; Vivani to retain control after offering.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vivani Medical, Inc. reported first quarter ended March 31, 2023 results: net income $6.3 million.

Period: first quarter ended March 31, 2023
Net income: $6.3 million
Result: reported results

Exact text from the filing

Net Loss: The net loss was $6.3 million as compared to $3.9 million for the three-months ended March 31, 2023, and 2022, respectively.

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

Vivani Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001753926-23-000657

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