Vivoryon Therapeutics (VVY) Q1 2026 earnings summary

Executive summary

• Presented compelling kidney function data and meta-analysis from two Phase 2 studies with varoglutamstat at WCN 2026, showing pronounced treatment effect in high-risk patients, especially those with diabetes and lower baseline eGFR.

• Strategic priority is securing funding and partnerships to advance varoglutamstat into Phase 2b clinical study for advanced DKD stage 3b/4.

• Active due diligence processes are ongoing with multiple potential biopharma partners and strategic investors.

Financial highlights

• No revenues generated in Q1 2026.

• Research and development expenses decreased to EUR 0.9 million from EUR 1.2 million year-over-year, mainly due to lower third-party and clinical costs.

• General and administrative expenses fell to EUR 0.9 million from EUR 1.3 million year-over-year, driven by reduced personnel and legal costs.

• Net loss for Q1 2026 was EUR 1.8 million, down from EUR 2.5 million in Q1 2025.

• Cash and cash equivalents stood at EUR 4.0 million as of March 31, 2026, compared to EUR 5.6 million at year-end 2025.

Outlook and guidance

• Cash and cash equivalents expected to fund operations into Q4 2026, excluding potential additional financing.

• Initiation of Phase 2b DKD study and future studies is contingent on securing further funding or partnerships.

• Continued operating losses are expected for the foreseeable future, with business viability beyond current guidance dependent on raising additional funds.