---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-26-000550"
form_type: "8-K"
ticker: "VANI"
cik: "0001266806"
company_name: "Vivani Medical, Inc."
filed_at: "2026-03-26T23:59:59+00:00"
generated_at: "2026-05-15T08:47:22.732112+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Vivani Medical reports FY2025 net loss $26.6M; advances semaglutide implant NPM-139 towards Phase 1

## Summary
- FY2025 net loss $26.6M vs $23.5M in FY2024; R&D expenses $18.1M up 15% YoY.
- Cash $16.2M as of Dec 31, 2025; raised $41.5M gross from financings; funds ops into mid-2027.
- Successful LIBERATE-1 first-in-human study; preclinical data shows >20% sham-adjusted weight loss for full year with single semaglutide implant.
- Phase 1 study of NPM-139 (semaglutide implant) for chronic weight management expected mid-2026 with results by end of 2026.
- Exploring spin-off or IPO of subsidiary Cortigent (neuromodulation assets).

## SEC filing metadata
- accession: 0001753926-26-000550
- form_type: 8-K
- ticker: VANI
- cik: 0001266806
- company_name: Vivani Medical, Inc.
- filed_at: 2026-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1266806/000175392626000550/0001753926-26-000550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1266806/000175392626000550/vani-20260326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-26-000550
- JSON: https://secwatch.observer/filing/0001753926-26-000550.json
- Plain text: https://secwatch.observer/filing/0001753926-26-000550.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.