Vivani Medical, Inc. (VANI)
Vivani Medical, Inc., a clinical-stage biopharmaceutical company, engages in the development of miniaturized and subdermal drug implants that treat chronic diseases. The company uses its NanoPortal implant technology to develop and potentially commercialize drug implant candidates, alone or in collaboration with pharmaceutical company partners, to address causes of poor clinical outcomes in the treatment of chronic diseases. Its pipeline includes NPM-139 for chronic weight management in patients who are obese or overweight; NPM-133 a semaglutide implant for the treatment of patients with type 2 diabetes; NPM-115, an exenatide implant candidate for chronic weight management in patients who are obese or overweight; and OKV-119, an exenatide implant for the treatment of obesity and diabetes in companion animals, including cats and dogs. The company is headquartered in Alameda, California.
Sector: Electromedical & Electrotherapeutic Apparatus
Industry: Biotechnology
Vivani Medical, Inc.
NASDAQ:VANIHealthcare · Medical - Devices
+1.80%$1.13
AH Close$1.13+0.00%vs close
AH Close$1.13+0.00%vs close
Mkt Cap$101.93M
Float41.39M
O/S90.2M
Inst Own5.8%
SI1.0%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$26.61M
Total Assets$39.39M
Free Cash Flow-$25.49M
Debt & Equity
Debt 55%
Equity 45%
Total Debt$18.86M
Total Equity$15.73M
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
- 1:3Reverse splitAug 19, 20223 shares → 1
- 1:8Reverse splitJan 6, 20208 shares → 1
Balance Sheet Details
Assets$39.39M
Liabilities$23.66M
Accounts Receivable$654K
Accounts Payable$1.03M
Inventory$0
PP&E (Net)$20.11M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $3.38M | $6.9M | $7.96M | $3.98M | $8.95M | $3.4M | $1.56M | $1.37M |
| YoY Growth | - | - | - | - | - | - | -51.0% | -13.4% | 99.8% | -55.5% | 163.4% | 117.1% | 14.5% | - |
| Cost of Revenue | $424K | $0 | $357K | $0 | $0 | $0 | $2.15M | $4.89M | $7.75M | $9.35M | $4.3M | $3.56M | $5.63M | $4.4M |
| Gross Profit | -$424K | $0 | -$357K | $0 | $0 | $0 | $1.23M | $2.01M | $211K | -$5.36M | $4.65M | -$160K | -$4.06M | -$3.03M |
| Gross Margin | - | - | - | - | - | - | 36.3% | 29.1% | 2.6% | -134.6% | 51.9% | -4.7% | -259.7% | -221.6% |
| Research and Development | $18.13M | $15.74M | $16.97M | $14.17M | $11M | $6.87M | $16.5M | $10.21M | $7.99M | $5.35M | $3.04M | $5.04M | $3.25M | $3.05M |
| Selling, General, and Administrative | $9.43M | $8.93M | $10M | $5.37M | $2.32M | $2.38M | $15.33M | $26.63M | $23.56M | $21.77M | $20.67M | $13.41M | $7.47M | $6.22M |
| Other | -$424K | $0 | -$357K | $1.7M | $0 | $0 | $0 | $0 | -$2.64M | $727K | $991K | $2.62M | $3.22M | $3.73M |
| Total Operating Expenses | $27.13M | $24.68M | $26.61M | $21.24M | $13.32M | $9.24M | $31.82M | $36.83M | $28.92M | $27.85M | $24.7M | $21.07M | $13.93M | $12.99M |
| Operating Income (EBIT) | -$27.56M | -$24.68M | -$26.96M | -$21.24M | -$13.32M | -$9.24M | -$30.6M | -$34.83M | -$28.71M | -$33.21M | -$20.05M | -$21.23M | -$18M | -$16.02M |
| Operating Margin | - | - | - | - | - | - | -905.5% | -505.0% | -360.5% | -833.4% | -224.0% | -624.9% | -1150.1% | -1171.8% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $29K | $7.03M | $5.01M | $267K |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $16K | $362K | $86K | $93K | $31K | $2K | $9K | $7K | $8K |
| Other Income (Expense) | $947K | $1.19M | $1.31M | $7.35M | $550K | -$36K | -$3M | -$269K | $193K | $31K | $29K | -$13.97M | -$4.97M | -$258K |
| Income Before Tax (EBT) | -$26.61M | -$23.49M | -$25.65M | -$13.89M | -$12.77M | -$9.28M | -$33.59M | -$35.09M | -$28.52M | -$33.18M | -$20.02M | -$35.2M | -$22.97M | -$16.28M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $86K | $93K | $31K | $58K | $0 | $42K | $9K |
| Net Income | -$26.61M | -$23.49M | -$25.65M | -$13.89M | -$12.77M | -$9.28M | -$33.59M | -$35.09M | -$28.52M | -$33.18M | -$20.02M | -$35.2M | -$22.97M | -$16.28M |
| Net Income Margin | - | - | - | - | - | - | -994.1% | -508.9% | -358.1% | -832.6% | -223.7% | -1036.0% | -1467.7% | -1190.7% |
| Supplementary Data | ||||||||||||||
| EPS | -0.43 | -0.43 | -0.50 | -0.17 | -0.33 | -0.33 | -2.15 | -4.08 | -4.01 | -5.99 | -4.09 | -10.31 | -4.87 | -3.45 |
| Diluted EPS | -0.43 | -0.43 | -0.50 | -0.17 | -0.33 | -0.33 | -2.15 | -4.08 | -4.01 | -5.99 | -4.09 | -10.31 | -4.87 | -3.45 |
| Weighted Average OS | 62.39M | 54.98M | 50.85M | 38.24M | 36.25M | 28.11M | 15.61M | 8.60M | 7.11M | 5.54M | 4.89M | 3.41M | 4.72M | 4.72M |
| EBITDA | -$26.18M | -$23.09M | -$25.3M | -$19.16M | -$12.43M | -$8.89M | -$33.18M | -$34.66M | -$28.06M | -$32.75M | -$19.68M | -$27.89M | -$17.64M | -$15.69M |
| EBITDA Margin | - | - | - | - | - | - | -981.9% | -502.6% | -352.3% | -821.8% | -219.9% | -820.8% | -1127.2% | -1147.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $16.23M | $18.35M | $20.65M | $45.08M | $2.18M | $2.08M | $11.33M | $4.47M | $604K | $10.88M | $15.96M | $619K | $63K | $145K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7.24M | $0 | $0 | $34M | $8.61M | $4.31M |
| Cash and Short-Term Investments | $16.23M | $18.35M | $20.65M | $45.08M | $2.18M | $2.08M | $11.33M | $4.47M | $7.84M | $10.88M | $15.96M | $34.62M | $8.67M | $4.45M |
| Accounts Receivable | $654K | $253K | $0 | $0 | $0 | $0 | $455K | $504K | $1.83M | $274K | $1.5M | $708K | $469K | $368K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $1.03M | $3.25M | $2.7M | $3.42M | $8.21M | $5.72M | $2.35M | $1.79M |
| Other Current Assets | $1.01M | $1.84M | $2.41M | $0 | $0 | $0 | $299K | $1.4M | $795K | $717K | $1.09M | $928K | $298K | $266K |
| Total Current Assets | $17.9M | $20.44M | $23.06M | $47.53M | $2.47M | $2.43M | $13.11M | $9.62M | $13.16M | $15.28M | $26.76M | $41.98M | $11.79M | $7.04M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $20.11M | $19.65M | $21.34M | $1.96M | $2.78M | $2.59M | $3.46M | $1.02M | $1.3M | $1.49M | $1.43M | $1M | $723K | $793K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $1.34M | $1.34M | $1.34M | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $5K | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $48K | $131K | $52K | $1.64M | $200K | $200K | $25K | $37K | $33K | $39K | $49K | $89K | $162K | $160K |
| Total Long-Term Assets | $21.5M | $21.12M | $22.73M | $3.6M | $2.98M | $2.79M | $3.49M | $1.06M | $1.33M | $1.53M | $1.49M | $1.09M | $886K | $954K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $39.39M | $41.56M | $45.8M | $51.13M | $5.45M | $5.22M | $16.6M | $10.68M | $14.5M | $16.81M | $28.25M | $43.07M | $12.67M | $7.99M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $1.03M | $817K | $542K | $1.18M | $281K | $223K | $1.09M | $1.3M | $752K | $1.16M | $710K | $513K | $314K | $731K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $637K | $237K | $0 | $0 | $0 | $0 | $0 | $0 | $53K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $335K | $167K | $48K | $85K | $322K | $4.67M | $69K | $167K |
| Other Current Liabilities | $365K | $343K | $396K | $385K | $0 | $0 | $2.6M | $3.44M | $3.2M | $2.82M | $4.88M | $5.98M | $1.15M | $949K |
| Total Current Liabilities | $6.6M | $5.99M | $5.72M | $6.82M | $2.09M | $2.19M | $6.96M | $7.6M | $6.62M | $5.66M | $7.98M | $8.45M | $2.68M | $2.76M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $17.06M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $19.21M | $8.27M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $4K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $17.06M | $17.96M | $19.31M | $0 | $902K | $1.08M | $2.37M | $0 | $0 | $0 | $0 | $0 | $19.21M | $8.27M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $23.66M | $23.95M | $25.04M | $6.82M | $2.99M | $3.27M | $9.32M | $7.6M | $6.62M | $5.66M | $7.98M | $8.45M | $21.89M | $11.04M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $448K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $8K | $6K | $5K | $5K | $54.65M | $43.03M | $264.01M | $229.02M | $202.16M | $186.77M | $166.05M | $163.17M | $88.31M | $85.57M |
| Retained Earnings | -$148.53M | -$121.92M | -$98.44M | -$72.79M | -$58.9M | -$46.12M | -$304.78M | -$269.47M | -$234.38M | -$205.86M | -$172.68M | -$152.66M | -$117.46M | -$94.49M |
| Comprehensive Income & Other | $30K | $48K | $140K | $35K | $0 | -$448K | -$562K | -$575K | -$572K | -$455K | -$376K | -$474K | -$267K | -$185K |
| Other Stockholders' Equity | $164.25M | $139.53M | $119.19M | $117.09M | $6.71M | $5.04M | $48.05M | $43.54M | $40.1M | $30.24M | $26.9M | $24.11M | $19.93M | $5.88M |
| Total Equity | $15.73M | $17.61M | $20.76M | $44.31M | $2.46M | $1.95M | $7.28M | $3.08M | $7.88M | $11.15M | $20.27M | $34.62M | -$9.22M | -$3.04M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $39.39M | $41.56M | $45.8M | $51.13M | $5.45M | $5.22M | $16.6M | $10.68M | $14.5M | $16.81M | $28.25M | $43.07M | $12.67M | $7.99M |
| Supplementary Data | ||||||||||||||
| Total Debt | $18.86M | $19.31M | $20.7M | $955K | $1.81M | $2.47M | $2.6M | $0 | $0 | $0 | $0 | $0 | $19.21M | $8.33M |
| Net Debt | $2.62M | $961K | $42K | -$44.12M | -$366K | $386K | -$8.72M | -$4.47M | -$604K | -$10.88M | -$15.96M | -$619K | $19.15M | $8.18M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$26.61M | -$23.49M | -$25.65M | -$13.89M | -$8.92M | -$9.28M | -$33.59M | -$35.09M | -$28.52M | -$33.18M | -$20.02M | -$35.2M | -$22.97M | -$16.28M |
| Depreciation & Amortization | $424K | $400K | $357K | $381K | $345K | $354K | $414K | $435K | $457K | $432K | $335K | $279K | $316K | $325K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | -$4.26M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $1.48M | $1.61M | $1.86M | $1.3M | $75K | $1.04M | $0 | $0 | $3.78M | $3.37M | $2.69M | $1.47M | $770K | $908K |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | -$401K | $0 | $0 | $0 | $0 | $0 | $48K | $1.22M | -$1.41M | $955K | -$793K | -$239K | -$148K | $97K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | -$347K | -$1.18M | $3.87M | $10K | -$2.49M | -$3.38M | -$560K | -$596K |
| Accounts Payable | -$222K | $248K | -$602K | -$1.94M | $0 | -$18K | -$213K | $554K | -$419K | $446K | $197K | $199K | -$417K | $492K |
| Other Working Capital | $852K | $106K | -$691K | $2.28M | -$421K | $164K | $549K | -$171K | $1.28M | -$2.36M | -$793K | $5.01M | $568K | -$536K |
| Total Working Capital Change | $229K | $354K | -$1.29M | $338K | -$421K | $146K | $37K | $425K | $3.31M | -$950K | -$3.88M | $1.6M | -$557K | -$542K |
| Other Non-Cash Items | $152K | $336K | $1.02M | -$6.91M | -$266K | $123K | $9.78M | $4.7M | -$324K | $8.08M | $6.76M | $14.76M | $5.01M | $267K |
| Net Cash from Operating | -$24.32M | -$20.79M | -$23.7M | -$18.79M | -$9.19M | -$7.62M | -$27.63M | -$29.81M | -$23.95M | -$25.07M | -$20.55M | -$17.09M | -$17.43M | -$15.32M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | -$1.17M | -$556K | -$887K | -$338K | -$14K | -$150K | -$493K | -$163K | -$265K | -$490K | -$762K | -$560K | -$246K | -$196K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$25.39M | -$4.3M | -$2.65M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.11M | $5.38M | $18.28M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$1.17M | -$556K | -$887K | -$338K | -$14K | -$150K | -$493K | -$163K | $2.84M | $4.89M | $17.52M | -$25.95M | -$4.55M | -$2.85M |
| Financing Activities | ||||||||||||||
| Debt Repaid | $344K | -$18.82M | - | -$8M | $2.2M | - | - | - | - | - | - | - | -$19.47M | -$10M |
| Common Stock Issuance | $23.29M | $18.82M | $133K | $16K | $77.81M | $8.55M | $34.99M | $26.6M | $21.17M | $20.45M | $2.88M | $43.8M | $2.51M | $7.98M |
| Common Stock Repurchases | -$28K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$18.82M | $0 | $55.37M | $2K | $0 | $0 | $0 | $0 | $0 | -$124K | $0 | $0 | $0 |
| Net Cash from Financing | $23.27M | $19.05M | $133K | $63.39M | $75.62M | $9.19M | $34.99M | $26.6M | $21.17M | $20.45M | $2.76M | $43.8M | $21.97M | $17.98M |
| Forex Effect | $99K | -$14K | $3K | -$1K | $2K | $0 | -$11K | $4K | $3K | $30K | -$107K | -$206K | -$82K | -$44K |
| Net Change in Cash | -$2.12M | -$2.3M | -$24.45M | $44.26M | $66.42M | $1.42M | $6.86M | -$3.37M | -$3.04M | $10.64M | $15.34M | $557K | -$82K | -$228K |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | -$24.32M | -$20.79M | -$23.7M | -$18.79M | -$9.19M | -$7.62M | -$27.63M | -$29.81M | -$23.95M | -$25.07M | -$20.55M | -$17.09M | -$17.43M | -$15.32M |
| Capital Expenditure | -$1.17M | -$556K | -$887K | -$338K | -$14K | -$150K | -$493K | -$163K | -$265K | -$490K | -$762K | -$560K | -$246K | -$196K |
| Free Cash Flow | -$25.49M | -$21.34M | -$24.59M | -$19.13M | -$9.2M | -$7.77M | -$28.12M | -$29.97M | -$24.21M | -$25.56M | -$21.31M | -$17.65M | -$17.67M | -$15.52M |
| Cash at Beginning | $19.69M | $21.99M | $46.44M | $2.18M | $3.18M | $663K | $4.47M | $7.84M | $10.88M | $239K | $619K | $63K | $145K | $373K |
| Cash at End | $17.57M | $19.69M | $21.99M | $46.44M | $69.59M | $2.08M | $11.33M | $4.47M | $7.84M | $10.88M | $15.96M | $619K | $63K | $145K |