Intel stock extends gains after report of possible U.S. government stake
ALAMEDA, Calif. - Vivani Medical, Inc. (NASDAQ:VANI), a $75 million market cap biotech company, has secured $10 million in equity financing to accelerate the development of its semaglutide implant NPM-139, the company announced Wednesday. According to InvestingPro data, the stock has shown significant volatility with a beta of 3.25, reflecting the dynamic nature of early-stage biotech investments.
The financing comes from two investors, including an entity owned by Vivani’s Chairman Gregg Williams, with shares priced at $1.26 each. The funding extends the company’s financial runway into the second half of 2026.
Vivani is prioritizing NPM-139 following positive weight loss data from an ongoing preclinical study showing approximately 20% weight loss maintained for over six months with a single implant. The company also reported promising results from its LIBERATE-1 Phase 1 clinical study of NPM-115, an exenatide implant.
"Our strategic prioritization of the semaglutide implant NPM-139 provides Vivani with significantly improved prospects regarding both technical success and commercial potential," said Adam Mendelsohn, Vivani’s CEO.
The company plans to initiate clinical development of NPM-139 in 2026 and will provide more detailed program updates later this year.
Additionally, Vivani announced plans to spin off Cortigent, Inc., its division developing brain implant devices, as an independent publicly traded company in the third or fourth quarter of 2025.
For the second quarter ended June 30, 2025, Vivani reported a net loss of $7.1 million, compared to $5.3 million in the same period last year. Research and development expenses increased to $4.8 million from $3.5 million in the prior-year quarter. InvestingPro analysis indicates the company maintains a FAIR financial health score, with 8 additional key insights available to subscribers.
The company’s cash position stood at $8.1 million as of June 30, 2025, with an additional $21.25 million in committed capital from three equity purchase agreements to be contributed through July 2026. The company maintains a healthy current ratio of 2.4, indicating sufficient liquidity to meet short-term obligations. Want deeper insights into Vivani’s financial health? InvestingPro subscribers have access to over 30 additional financial metrics and expert analysis.
This article is based on a press release statement from Vivani Medical.
In other recent news, Vivani Medical announced significant developments that could impact its future operations. The company held its 2025 Annual Meeting of Stockholders, where shareholders elected all six nominees to the board of directors. This meeting was attended by a quorum, with 37,097,099 shares represented out of a total of 59,243,903. Additionally, Vivani Medical has appointed Anthony Baldor as the new Chief Financial Officer. Baldor, who replaces Brigid A. Makes, brings over 20 years of financial management experience in the biotechnology sector.
In another strategic move, Vivani Medical plans to spin off its subsidiary, Cortigent, as an independent, publicly traded company on Nasdaq. The spin-off is expected to be completed in the third quarter of 2025, pending regulatory approvals. This decision aims to create two focused entities, with Vivani concentrating on its NanoPortal drug implant technology and Cortigent advancing its neurostimulation devices. These recent developments reflect Vivani Medical’s ongoing efforts to refine its strategic focus and leadership.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.