Vivani Medical Files Q2 2024 10-Q
Ticker: VANI · Form: 10-Q · Filed: Aug 13, 2024 · CIK: 1266806
Sentiment: neutral
Topics: 10-Q, financials, medical-device
TL;DR
Vivani Medical's Q2 10-Q is in. Check financials.
AI Summary
Vivani Medical, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details are available within the full filing.
Why It Matters
This filing provides investors with a quarterly update on Vivani Medical's financial health and operational progress, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a medical device company, Vivani Medical faces inherent risks related to product development, regulatory approvals, and market adoption.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 20240813 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Vivani Medical, Inc. (company) — Filer of the 10-Q
- June 30, 2024 (date) — End of the reporting period
- 0001266806 (company) — Central Index Key for Vivani Medical, Inc.
- Alameda, CA (location) — Business and mailing address
FAQ
What were Vivani Medical's total revenues for the six months ended June 30, 2024?
The filing does not explicitly state total revenues for the six months ended June 30, 2024, in the provided text snippet.
What is the company's primary business as indicated by its SIC code?
Vivani Medical's Standard Industrial Classification (SIC) code is 3845, which corresponds to ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS.
What was the previous name of Vivani Medical, Inc.?
The former company name was SECOND SIGHT MEDICAL PRODUCTS INC, with a date of name change on October 10, 2003.
What is the company's fiscal year end?
Vivani Medical's fiscal year ends on December 31.
What is the company's business phone number?
The business phone number listed is 818-833-5000.
Filing Stats: 4,553 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-08-13 16:20:47
Key Financial Figures
- $0.0001 — 5,856 shares of common stock, par value $0.0001 per share outstanding . 1 VIVANI ME
Filing Documents
- vani-20240630.htm (10-Q) — 1016KB
- ex311_1.htm (EX-31.1) — 18KB
- ex312_2.htm (EX-31.2) — 12KB
- ex321_3.htm (EX-32.1) — 12KB
- 0001753926-24-001420.txt ( ) — 6044KB
- vani-20240630_def.xml (EX-101.DEF) — 256KB
- vani-20240630_pre.xml (EX-101.PRE) — 412KB
- vani-20240630_cal.xml (EX-101.CAL) — 51KB
- vani-20240630_lab.xml (EX-101.LAB) — 647KB
- vani-20240630.xsd (EX-101.SCH) — 48KB
- vani-20240630_htm.xml (XML) — 837KB
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six month ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for each three month period ended during the six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 PART II OTHER INFORMATION 28 Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32
SIGNATURES
SIGNATURES 33 2 PART I. FINANCIAL STATEMENTS Item 1. Financial Statements VIVANI MEDICAL, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited) (In thousands, except per share data) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 24,919 $ 20,654 Prepaid expenses and other current assets 1,418 2,408 Total current assets 26,337 23,062 Property and equipment, net 1,710 1,729 Right-of-use assets 18,801 19,616 Restricted cash 1,338 1,338 Other assets 38 52 Total assets $ 48,224 $ 45,797 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 645 $ 542 Accrued expenses 1,660 1,727 Litigation accrual 1,675 1,675 Accrued compensation expense 384 396 Current operating lease liabilities 1,420 1,383 Total current liabilities 5,784 5,723 Long-term operating lease liabilities 18,616 19,313 Total liabilities 24,400 25,036 Commitments and contingencies (Note 11) Stockholders' equity: Preferred stock, par value $ 0.0001 per share; 10,000 shares authorized; none outstanding - - Common stock, par value $ 0.0001 per share; 300,000 shares authorized; shares issued and outstanding: 55,197 and 51,031 at June 30, 2024 and December 31, 2023 , respectively 6 5 Additional paid-in capital 133,588 119,054 Accumulated other comprehensive income 63 140 Accumulated deficit ( 109,833 ) ( 98,438 ) Total stockholders' equity 23,824 20,761 Total liabilities and stockholders' equity $ 48,224 $ 45,797 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 VIVANI MEDICAL, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (unaudited) (In thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: