Vivani Medical (VANI) AI Stock Analysis

• Market Cap: $60.43M
• Dividend Yield: N/A
• Average Volume (3M): 113.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: N/A
• EPS Growth: 15.22%
• Country: US
• Employees: 36
• Sector: Healthcare
• Sector Strength: 78
• Industry: Medical - Devices
• EPS (TTM): -0.43
• Shares Outstanding: 59,242,905
• 10 Day Avg. Volume: 187,222
• 30 Day Avg. Volume: 113,777
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -2.90
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $4.00
• Price Target Upside: 292.16% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

Vivani Medical faces significant financial challenges with ongoing losses and reliance on external financing. While technical indicators suggest bearish momentum, recent corporate developments, including successful clinical milestones and strategic restructuring, offer potential for future improvement. However, the negative P/E ratio and lack of dividend yield remain concerns for valuation.

Positive Factors

Clinical Trials

The first-in-human Phase 1 LIBERATE-1 trial of the exenatide implant NPM-115 has achieved full enrollment at two clinical sites in Australia.

Market Opportunities

The GLP-1 and obesity treatment market continues to grow, which can accommodate multiple players, enhancing opportunities for Vivani.

Product Development

Vivani announced positive preclinical data for NPM-139, a subdermal implant being developed for chronic weight management.

Negative Factors

Financial Challenges

More dilution may be required for future financing considering the current share price trading near a 52-week low and overall market dynamics.

Financial Performance

The 12-month price target is lowered to $4.00 from $8.00 due to dilution from the recent capital raise.

Regulatory Risks

Risks include failure of NPM-115 in clinical trials, failure to secure regulatory approval, and failure to achieve commercial success due to market size, penetration rate, and competition.

Vivani Medical Business Overview & Revenue Model

Company Description

Vivani Medical (VANI) is a medical technology company specializing in the development of innovative implantable solutions for chronic disease management. The company operates in the healthcare sector, focusing on creating products that enhance patient outcomes and quality of life. Vivani Medical's core products include advanced drug delivery systems and neurostimulation devices that are designed to address various medical conditions.

How the Company Makes Money

Vivani Medical makes money primarily through the sale and licensing of its proprietary implantable medical devices. These devices are sold to healthcare providers, hospitals, and clinics, which utilize them to treat patients with specific chronic conditions. The company may also generate revenue through partnerships and collaborations with pharmaceutical companies and research institutions, leveraging its technology to develop new therapeutic solutions. Additionally, Vivani Medical might earn income from grants or funding from government and private entities supporting healthcare innovation.

Vivani Medical Financial Statement Overview

Summary

Vivani Medical faces significant financial challenges with persistent losses, increased leverage, and negative cash flows. The lack of consistent revenue growth and high operational losses pose risks, despite maintaining some liquidity through cash reserves.

Income Statement

Vivani Medical's income statement reveals a challenging financial position. Despite some revenue generation in the TTM (Trailing-Twelve-Months), the company continues to face significant net losses, reflected in the negative EBIT and EBITDA margins. The gross profit margin is positive but overshadowed by the large operating losses. A lack of consistent revenue growth and substantial net losses suggest operational difficulties.

Balance Sheet

The balance sheet analysis indicates moderate financial instability. The debt-to-equity ratio has increased, indicating higher leverage, while the equity ratio has declined, reflecting reduced equity backing. However, the company maintains a reasonable level of cash and short-term investments, which provides some liquidity cushion.

Cash Flow

Cash flow analysis shows negative operating cash flow and free cash flow, indicating cash outflows from operations. The operating cash flow to net income ratio is poor due to the substantial net losses, which raises concerns about the company's ability to generate cash from its operations.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
518.00K	0.00	0.00	0.00	0.00	3.38M
	Gross Profit
221.00K	-357.00K	-381.00K	-345.00K	-167.00K	1.23M
	EBIT
-24.43M	-26.96M	-21.24M	-13.32M	-9.24M	-30.60M
	EBITDA
-24.02M	-26.61M	-19.16M	-12.98M	-8.89M	-33.18M
	Net Income Common Stockholders
-23.46M	-25.65M	-6.54M	-12.13M	-9.28M	-33.59M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
4.58M	20.65M	45.08M	2.18M	2.08M	11.33M
	Total Assets
9.68M	45.80M	51.13M	5.45M	5.22M	16.60M
	Total Debt
21.20M	20.70M	955.00K	1.81M	2.47M	2.60M
	Net Debt
20.74M	42.00K	-44.12M	-366.00K	386.00K	-8.72M
	Total Liabilities
24.09M	25.04M	6.82M	2.99M	3.27M	9.32M
	Stockholders Equity
-14.41M	20.76M	44.31M	2.46M	1.95M	7.28M
Cash Flow		Free Cash Flow
-19.46M	-24.59M	-19.13M	-11.52M	-7.77M	-28.12M
	Operating Cash Flow
-18.45M	-23.70M	-18.79M	-10.95M	-7.62M	-27.63M
	Investing Cash Flow
-1.00M	-887.00K	-338.00K	-572.00K	-150.00K	-493.00K
	Financing Cash Flow
14.25M	133.00K	63.39M	11.62M	9.19M	34.99M

Vivani Medical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VANI, the sentiment is Negative. The current price of 1.02 is below the 20-day moving average (MA) of 1.07, below the 50-day MA of 1.11, and below the 200-day MA of 1.22, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 34.57 is Neutral, neither overbought nor oversold. The STOCH value of 26.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VANI.

Vivani Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABT	79 Outperform	$216.55B	16.35	30.95%	1.79%	4.59%	134.50%
BSX	78 Outperform	$135.39B	72.66	9.03%	―	17.60%	16.84%
SYK	78 Outperform	$131.81B	44.49	15.26%	0.95%	10.23%	-5.74%
MDT	77 Outperform	$106.64B	25.27	8.42%	3.37%	2.72%	4.48%
EW	68 Neutral	$40.42B	27.38	17.17%	―	-4.67%	6.23%
Sector *	48 Neutral	$6.27B	1.17	-48.19%	2.68%	17.28%	1.24%
VANI	44 Neutral	$60.43M	―	-122.42%	―	―	15.22%

Vivani Medical Corporate Events

Vivani Medical Advances with Successful Milestones in 2024

Vivani Medical reported significant progress in 2024, transitioning to a clinical-stage biotechnology company with successful milestones in its NPM-115 and NPM-139 programs. The company completed full enrollment in the LIBERATE-1 study and announced promising preclinical data for NPM-139, securing $8.25 million in equity financing to support operations into 2026. Vivani also plans to spin off its subsidiary, Cortigent, to focus on its core drug implant business. Financial results for 2024 showed a decrease in net loss, attributed to staffing reductions and reduced use of outside services.

Vivani Medical Advances with LIBERATE-1 Clinical Trial

On March 12, 2025, Vivani Medical announced plans to spin off its Cortigent neurostimulation business into an independent, publicly traded company by mid-2025, subject to certain conditions. This strategic move aims to create two focused companies, allowing Vivani to concentrate on its NanoPortal drug implants, while Cortigent will continue developing neurostimulation technologies for vision and stroke recovery. On March 13, 2025, Vivani also reported the successful first implant and full enrollment in its LIBERATE-1 clinical trial for the GLP-1 implant NPM-115, targeting medication adherence in chronic weight management and type 2 diabetes. The trial’s top-line results are expected by mid-2025, potentially transforming treatment options for these conditions.