Vivani Medical, Inc.
Business
Vivani Medical is a clinical-stage biopharmaceutical company developing miniature, ultra long-acting subdermal drug implants using its proprietary NanoPortal technology platform designed to enable reversible delivery of therapeutic molecules for chronic diseases. The company's product candidates are GLP-1 receptor agonist implants (semaglutide and exenatide) targeting obesity, weight management, and type 2 diabetes in humans, plus a veterinary GLP-1 implant developed with partner Okava for companion animals. Vivani operates through internal research, development, and manufacturing facilities in Alameda and San Diego, California, and is advancing its lead program NPM-139 (semaglutide implant) toward Phase 1 clinical trials expected to initiate in mid-2026.
Summary from 10-K filed 2026-03-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development, net of grants | 18 | 16 | 17 | 14 | 11 | |
| General and administrative, net of grants | 9 | 9 | 10 | 7 | 2 | |
| Total operating expenses | 28 | 25 | 27 | 21 | 13 | |
| Loss from operations | −28 | −25 | −27 | −21 | −13 | |
| Other income, net | 947,000 | 1 | 1 | — | — | |
| Net loss | −27 | −23 | −26 | −14 | −13 | |
| Net loss per common share - basic (in dollars per share) | −0.43 | −0.43 | −0.5 | — | — | |
| Net loss per common share - diluted (in dollars per share) | −0.43 | −0.43 | −0.5 | — | — | |
| Weighted average shares outstanding - basic (in shares) | 62 | 55 | 50,853 | — | — | |
| Weighted average shares outstanding - diluted (in shares) | 62 | 55 | 50,853 | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 16 | 18 | 21 | 45 | 70 | |
| R&D tax credit incentive receivable | 654,000 | 253,000 | — | — | — | |
| Prepaid expenses and other current assets | 1 | 2 | 2 | 2 | 291,000 | |
| Total current assets | 18 | 20 | 23 | 48 | 2 | |
| Property and equipment, net | 3 | 2 | 2 | 1 | 1 | |
| Operating lease right-of-use assets, net | 17 | 18 | 20 | 779,000 | 2 | |
| Restricted cash | 1 | 1 | — | — | — | |
| Deposits and other assets | 48,000 | 131,000 | 52,000 | 275,000 | 200,000 | |
| TOTAL ASSETS | 39 | 42 | 46 | 51 | 5 | |
| Accounts payable | 1 | 817,000 | 542,000 | 1 | 281,000 | |
| Accrued expenses | 2 | 2 | 2 | 2 | 895,000 | |
| Litigation accrual | 2 | 2 | 2 | 2 | — | |
| Accrued compensation expense | 365,000 | 343,000 | 396,000 | 657,000 | — | |
| Lease liability, current portion | 2 | 1 | 1 | 955,000 | 910,000 | |
| Total current liabilities | 7 | 6 | 6 | 7 | 2 | |
| Lease liability, noncurrent portion | 17 | 18 | 19 | — | 902,000 | |
| TOTAL LIABILITIES | 24 | 24 | 25 | 7 | 3 | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Preferred stock, par value $0.0001 per share; 10,000 shares authorized; none outstanding | — | — | — | — | — | |
| Common stock, par value $0.0001 per share; 300,000 shares authorized; shares issued and outstanding: 76,428 and 59,235 as of December 31, 2025 and 2024, respectively | 8,000 | 6,000 | 5,000 | 5,000 | 55 | |
| Additional paid-in capital | 164 | 139 | 119 | 117 | 7 | |
| Accumulated other comprehensive income | 30,000 | 48,000 | 140,000 | 35,000 | — | |
| Accumulated deficit | −149 | −122 | −98 | −73 | −59 | |
| TOTAL STOCKHOLDERS' EQUITY | 16 | 18 | 21 | 44 | 2 | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 39 | 42 | 46 | 51 | 5 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation of property and equipment | 424,000 | 400,000 | 357,000 | 381,000 | 345,000 | |
| Stock-based compensation | 1 | 2 | 2 | 1 | 2 | |
| Reclassification of foreign currency translation adjustments | −117,000 | — | — | — | — | |
| Equipment write-off and loss on equipment disposal | — | 60,000 | 121,000 | — | — | |
| Non-cash lease expense | 269,000 | 276,000 | 904,000 | — | — | |
| R&D tax credit incentive receivable | −401,000 | −253,000 | — | — | — | |
| Prepaid expenses and other assets | 908,000 | 491,000 | 264,000 | −476,000 | 102,000 | |
| Accounts payable | −222,000 | 248,000 | −602,000 | −2 | 13,000 | |
| Accrued compensation expenses | 22,000 | −53,000 | −261,000 | 204,000 | — | |
| Accrued expenses | −78,000 | −79,000 | −694,000 | 3 | 321,000 | |
| Net cash used in operating activities | −24 | −21 | −24 | −19 | −11 | |
| Purchases of property and equipment | −1 | −556,000 | −887,000 | −338,000 | −572,000 | |
| Net cash used in investing activities | −1 | −556,000 | −887,000 | −338,000 | −572,000 | |
| Proceeds from issuance of common stock and warrants in connection with Securities Purchase Agreement, net of issuance costs | — | 14 | — | — | — | |
| Proceeds from issuance of common stock in connection with the Sales Agreement, net of issuance costs | −28,000 | 160,000 | — | — | — | |
| Proceeds from issuance of common stock in connection with director private securities purchase agreement, net of issuance costs | — | 5 | — | — | — | |
| Proceeds from issuance of common stock in connection with 2025 Private Sales Transaction, net of issuance costs | 9 | — | — | — | — | |
| Proceeds from issuance of common stock in connection with 2025 Registered Direct Offering, net of issuance costs | 9 | — | — | — | — | |
| Proceeds from issuance of common stock in connection with 2025 Private Placement, net of issuance costs | 6 | — | — | — | — | |
| Gross proceeds from insurance premium loan | 355,000 | 426,000 | — | — | — | |
| Principal payment for insurance premium loan | −344,000 | −189,000 | — | — | — | |
| Net cash provided by financing activities | 23 | 19 | 133,000 | 63 | 12 | |
| Effect of exchange rate changes on cash and cash equivalents | 99,000 | −14,000 | 3,000 | −1,000 | — | |
| Net (decrease) in cash, cash equivalents and restricted cash | −2 | −2 | −24 | 44 | 97,000 | |
| Income taxes paid | — | 2,000 | 1,000 | — | 1,000 | |
| Establishment of operating right-of-use assets through operating lease obligations | 839,000 | — | 21 | — | — | |
| Purchase of property and equipment in accrued expenses | 437,000 | — | 132,000 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Vivani Medical, Inc.'s CIK number?
Vivani Medical, Inc.'s SEC CIK number is 0001266806 (1266806). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Vivani Medical, Inc.'s SEC filings?
All of Vivani Medical, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Vivani Medical, Inc. last report earnings?
Vivani Medical, Inc. (VANI) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001753926-26-000854). This is Vivani Medical, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Vivani Medical, Inc.'s most recent earnings 8-K?
Vivani Medical, Inc.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001753926-26-000854. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Vivani Medical, Inc.'s latest earnings 8-K →
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