Vivani Medical Q3 net loss $6.5M; plans Phase 1 semaglutide implant study in H1 2026

Vivani Medical, Inc.

2025-Q3 EPS reported -$0.34 vs consensus -$0.11 ▼ miss (-203.0%)

Net loss of $6.5M in Q3 2025 vs $6.0M in Q3 2024; cash down to $4.0M from $19.7M at year-end 2024.
Closed ~$15.7M in October equity financings and $10M August private placement, total $25.7M cash and commitments.
Plans to initiate Phase 1 clinical study of NPM-139 semaglutide implant for chronic weight management in first half 2026.
Spin-off of Cortigent temporarily withdrawn due to U.S. government shutdown; new record date expected after SEC resumes.
R&D expense $4.5M ($4.2M in Q3 2024); G&A $2.2M ($2.1M in Q3 2024); operating expenses increased $0.4M.

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