Vivani Medical Provides Business Update and Reports Third Quarter Financial Results
Vivani Medical, Inc. (Nasdaq: VANI ) (“Vivani” or the “Company”), an innovative, preclinical-stage biopharmaceutical company developing novel, long-term drug implants, today reported financial results for the third quarter of 2023 and provided a business update.
- Vivani Medical, Inc. (Nasdaq: VANI ) (“Vivani” or the “Company”), an innovative, preclinical-stage biopharmaceutical company developing novel, long-term drug implants, today reported financial results for the third quarter of 2023 and provided a business update.
- In addition, we are announcing parallel plans to pursue the initiation of the FIH study in Australia.
- Third Quarter ended September 30, 2023, Financial Results
Cash Balance: As of September 30, 2023, Vivani had cash, cash equivalents and restricted cash totaling $26.2 million compared to $46.4 million as of December 31, 2022. - Research and development expense increased by $0.5 million, or 15%, to $4.4 million in the third quarter of 2023 from $3.9 million in the third quarter of 2022.