Vivani books $7.3m quarterly loss with $15.5m cash ahead of implant trial readout

Vivani Medical ended the third quarter of 2026 with $15.5 million in cash and a net loss of $7.3 million, according to results the company published on 11 November. The cash balance is roughly twice the quarterly loss. Net loss is not the same as cash burn, and the material reviewed gave no guidance on runway or financing.

The nearest catalyst is the first readout from SLIM-1, a Phase 1 study of NPM-139, Vivani's implantable form of semaglutide for chronic weight management. The company said results are expected later this week. The trial compares the implant with the starting dose of Wegovy in 20 participants in Australia. At that size, it is an early comparison rather than a test of commercial viability.

Vivani also confirmed that the merger of Cortigent and ClearOne has not closed. It is waiting on final regulatory approvals, and the material reviewed gave no detail on which approvals remain or when they might arrive.

Further US development of NPM-139 is some way off. The company plans to submit an Investigational New Drug application for a Phase 2 study in 2027. That is the filing a sponsor makes to the US Food and Drug Administration before beginning clinical trials in the US.

Context: Wegovy is Novo Nordisk's branded semaglutide for weight management, and long-acting delivery formats are one way developers are trying to differentiate in the GLP-1 field. The facts on file do not include any commercial terms, pricing or partnering plans for NPM-139.