Vivani Medical (VANI) Q3 2026 earnings summary

Executive summary

• NanoPortal programs include NPM-139 for weight management, NPM-133 for type 2 diabetes, and partnered OKV-119 for companion animals; no product revenue has been generated since the 2022 merger.

• SLIM-1 top-line results for NPM-139 were anticipated in November 2026; the implant is designed to deliver semaglutide for six to twelve months.

• Cortigent’s proposed merger with ClearOne remained subject to final regulatory approval and related financing; an independent Nasdaq listing was expected after closing.

Financial highlights

• Q3 R&D expense was $5.0M vs. $4.5M YoY; G&A was $2.5M vs. $2.2M; total operating expenses were $7.5M vs. $6.7M.

• Q3 net loss was $7.25M vs. $6.53M YoY; other income, net, was $0.28M vs. $0.20M.

• 9M 2026 R&D expense was $14.0M vs. $13.5M; G&A was $7.4M vs. $7.3M; net loss was $20.4M vs. $20.0M.

• 9M operating expenses were $21.4M vs. $20.7M; other income was $1.0M vs. $0.8M.

• At Sept. 30, cash and cash equivalents were $14.6M and restricted cash was $0.9M; cash, cash equivalents and restricted cash totaled $15.5M, vs. $20.8M at June 30.

Outlook and guidance

• Available cash is expected to fund planned operations through Q1 2027; additional capital is required beyond then, and management’s plans do not alleviate substantial doubt about going concern.

• Operating expenses and losses are expected to continue, with R&D spending anticipated to rise as clinical trials and development programs advance.

• An IND application for NPM-139 to support a proposed Phase 2 dose-ranging study is planned for 2027.

• Cortigent’s transition to an independent public company was expected after final regulatory approval, closing and related financing activities.