Vivani Medical, Inc. reported fourth quarter and full year 2025 financial results, including a Q4 net loss of $6.6 million and full year net loss of $26.6 million, with cash and equivalents of $16.2 million as of December 31, 2025, supporting operations into mid-2027. The company highlighted successful completion of the LIBERATE-1 first-in-human study and preclinical data for NPM-139 semaglutide implant showing >20% sham-adjusted weight loss for a full year, with Phase 1 study initiation planned for mid-2026.
Key takeaways
Cash and equivalents $16.2 million as of December 31, 2025, funding operations into mid-2027
Q4 2025 net loss $6.6 million vs $6.1 million in Q4 2024
Full year 2025 net loss $26.6 million vs $23.5 million in 2024
Raised $41.5 million in gross proceeds from financings in 2025 and 2026 YTD
Preclinical semaglutide implant data: >20% sham-adjusted weight loss for full year with single administration
Phase 1 study for NPM-139 semaglutide implant to initiate mid-2026 with results by end of 2026
LIBERATE-1 first-in-human study completed with positive safety and tolerability profile