Core Insights - Vivani Medical, Inc. is advancing the development of its semaglutide implant NPM-139 following positive weight loss data from preclinical studies and the LIBERATE-1 Phase 1 clinical study results for NPM-115 [1][4] - The company has secured $10 million in equity financing to support the accelerated development of NPM-139 and to ensure financial stability into the second half of 2026 [1][3] - Vivani plans to spin off Cortigent, Inc., a division focused on brain implant devices, into an independent publicly traded company [1][15] Financial Overview - As of June 30, 2025, Vivani reported a cash balance of $8.1 million, down from $19.7 million at the end of 2024, primarily due to a net loss of $13.4 million [9] - Research and development expenses for Q2 2025 were $4.8 million, a 35% increase from $3.5 million in Q2 2024, attributed to increased R&D activities [10] - General and administrative expenses rose to $2.7 million in Q2 2025, up 25% from $2.2 million in Q2 2024, mainly due to higher professional services costs [11] Business Developments - The company has entered into a share purchase agreement to issue 7,936,507 shares at $1.26 per share, expected to generate approximately $10 million in gross proceeds [3] - The LIBERATE-1 study demonstrated a positive safety and tolerability profile for NPM-115, which supports the ongoing development of NPM-139 [2] - Vivani anticipates initiating the clinical program for NPM-139 in 2026, with a focus on chronic weight management [2][15] Upcoming Milestones - Vivani plans to provide a detailed update on the NPM-139 program later this year, including the design of a dose-ranging weight maintenance study [15] - The spin-off of Cortigent, Inc. is expected to be completed in Q3 or Q4 of 2025 [15]