Core Insights - enVVeno Medical Corporation reported its financial results for the year ended December 31, 2025, highlighting the strategic advancement of its enVVe® System and the completion of pre-clinical studies, with plans to initiate a pivotal trial in 2026 [2][3] Financial Performance - The company reported a net loss of $19.5 million for 2025, an improvement from a net loss of $21.8 million in 2024 [5] - Research and development expenses decreased by 19% year-over-year to $10.0 million, while selling, general, and administrative expenses were $10.9 million [5] - As of December 31, 2025, the company held $28.2 million in cash and investments, with an expected cash burn rate of approximately $4 million to $5 million per quarter in 2026 [5] Product Development - The enVVe System is a first-in-class, non-surgical, transcatheter-based replacement venous valve aimed at treating severe chronic venous insufficiency (CVI) by restoring proper blood flow in leg veins [4] - The system is designed to eliminate the need for open surgery, reduce procedural risks, and improve patient quality of life, addressing a significant unmet medical need in the treatment of CVI [4][3] - Chronic venous disease affects an estimated 70% of the adult population in the U.S., with severe CVI impacting approximately 3.5 million patients, including 1.5 million with venous leg ulcers [3]