Vivani Medical, Inc.
VANI · Electromedical & Electrotherapeutic Apparatus · 86.2M shares · +8%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.26 · est. market cap ~$109M — last insider purchase, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Vivani Medical — clinical-stage implantable drug-delivery developer near cash-out.
Strengths
- Differentiated miniaturized GLP-1 implant platform
Risks
- Operating losses; cash runway ~2.5 quarters
- Clinical/regulatory and financing risk
Notable findings
- Cash burnNegative free cash flow (-25.5M)
- Chronic dilutionShare count +8%/yr over 1y (dilution, book value/share -17%)
- Insider buyingInsider buying — 10 open-market buy(s) by 1 insider(s) (~$14M, last 6mo) Form 4 ↗
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-169.2%
Return on assets
-67.5%
Revenue growth (QoQ)
-100.0%
Current ratio
2.7×
Free cash flow
-$25M
EBITDA
-$27M
Tangible book value
$16M
Cash & investments
$16M
Cash runway
2q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Williams Gregg | Buy | 1.6M | $1.26 |
| 2026-05-15 | Williams Gregg | Buy | 1.6M | $1.26 |
| 2026-04-15 | Williams Gregg | Buy | 1.6M | $1.26 |
| 2026-03-15 | Williams Gregg | Buy | 1.3M | $1.03 |
| 2026-03-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2026-02-15 | Williams Gregg | Buy | 1.6M | $1.03 |
| 2026-02-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2026-01-27 | Williams Gregg | Buy | 1.4M | $1.48 |
| 2026-01-15 | Williams Gregg | Buy | 1.5M | $1.12 |
| 2026-01-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2025-12-29 | Mendelsohn Aaron | Buy | 20K | $1.23 |
| 2025-12-15 | Williams Gregg | Buy | 1.5M | $1.12 |
| 2025-12-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2025-11-15 | Williams Gregg | Buy | 1.5M | $1.12 |
| 2025-11-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2025-10-27 | Williams Gregg | Buy | 3.7M | $1.62 |
| 2025-10-15 | Williams Gregg | Buy | 1.5M | $1.12 |
| 2025-10-15 | Williams Gregg | Buy | 265K | $1.26 |
| 2025-09-15 | Williams Gregg | Buy | 1.5M | $1.12 |
| 2025-09-15 | Williams Gregg | Buy | 595K | $1.26 |
| 2025-05-16 | Williams Gregg | Buy | 2.4K | $1.01 |
| 2025-05-15 | Williams Gregg | Buy | 6.8K | $1.01 |
| 2025-05-14 | Williams Gregg | Buy | 3.5K | $1.01 |
| 2025-04-24 | Williams Gregg | Buy | 1.1K | $1.01 |
| 2025-04-22 | Williams Gregg | Buy | 243 | $1.01 |
| 2025-04-21 | Williams Gregg | Buy | 1.6K | $1.01 |
| 2025-04-11 | Williams Gregg | Buy | 2.3K | $1.01 |
| 2025-04-09 | Williams Gregg | Buy | 19K | $1.02 |
| 2025-04-08 | Williams Gregg | Buy | 63K | $1.02 |
| 2025-04-07 | Williams Gregg | Buy | 59K | $0.99 |
| 2025-04-07 | Williams Gregg | Buy | 44K | $0.99 |
| 2025-04-04 | Williams Gregg | Buy | 34K | $0.99 |
| 2025-04-04 | Williams Gregg | Buy | 5.6K | $0.98 |
| 2025-04-03 | Williams Gregg | Buy | 23K | $1.00 |
| 2025-04-02 | Williams Gregg | Buy | 2.0K | $1.01 |
| 2025-04-01 | Dwyer Donald | Buy | 4.0K | $1.02 |
| 2025-02-28 | Dwyer Donald | Buy | 1.0K | $1.11 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07430059 ↗ | Safety, Tolerability and Pharmacokinetics of a Subcutaneous Semaglutide Implant Obesity & Overweight | PHASE1 | Not Yet Recruiting | 2026-08-01 |
| NCT05670379 ↗ | Assessment of Safety, Tolerability and Drug Levels of Exenatide Implant Overweight and Obesity, Type2diabetes | PHASE1 | Completed | 2025-08-21 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-04 | Reg FDExhibits | filing ↗ |
| 2026-05-13 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-26 | ResultsExhibits | filing ↗ |
| 2026-01-27 | Material agreement3.02Reg FDExhibits | filing ↗ |
| 2025-11-13 | ResultsReg FDExhibits | filing ↗ |
| 2025-10-28 | Material agreement3.02Reg FDExhibits | filing ↗ |
| 2025-10-03 | Reg FDOtherExhibits | filing ↗ |
| 2025-09-17 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-04 | 0001753926-26-000974 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001753926-26-000852 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001753926-26-000854 ↗ |
| 8-K | 2026-03-26 | 2026-03-26 | 0001753926-26-000550 ↗ |
| 10-K | 2026-03-26 | 2025-12-31 | 0001753926-26-000548 ↗ |
| 8-K | 2026-01-27 | 2026-01-25 | 0001753926-26-000194 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0001753926-25-001768 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001753926-25-001770 ↗ |
| 8-K | 2025-10-28 | 2025-10-26 | 0001753926-25-001655 ↗ |
| 8-K | 2025-10-03 | 2025-10-03 | 0001753926-25-001582 ↗ |
| 8-K | 2025-09-17 | 2025-09-17 | 0001753926-25-001510 ↗ |
| 8-K | 2025-09-09 | 2025-09-09 | 0001753926-25-001443 ↗ |