Vivani Medical Q3 net loss $6.0M; $5M equity financing; GLP-1 implant study approved in Australia

Vivani Medical, Inc.

2024-Q3 EPS reported -$0.32

Net loss $6.0M for Q3 2024 vs $6.8M YoY; cash $21.0M as of Sept 30, 2024.
Regulatory approval in Australia for LIBERATE-1 Phase 1 trial of GLP-1 (exenatide) implant in obese/overweight patients.
Private sale of 3.97M shares at $1.26/share to a director for $5.0M gross proceeds, extending runway into late 2025.
Preclinical data: 82% sham-implant adjusted liver fat reduction and 20% weight loss comparable to semaglutide.
R&D expense $4.2M (-5% YoY); G&A $2.1M (-22% YoY); operating expenses decreased $0.8M.

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