Vivoryon Therapeutics (VVY) Q3 2024 earnings summary

Executive summary

• Varoglutamstat demonstrated statistically significant and clinically meaningful improvement in kidney function (eGFR) versus placebo in two independent Phase II studies, VIVIAD and VIVA-MIND, supporting a strategic shift to kidney disease, especially DKD.

• VIVIAD Phase IIb and VIVA-MIND results were presented at ASN Kidney Week and a KOL event, receiving positive feedback from the nephrology community.

• The company discontinued Alzheimer's disease development after lack of efficacy in that indication, but kidney function data remained positive.

Financial highlights

• R&D expenses for the first nine months of 2024 were €12.6M, up from €10.4M year-over-year, mainly due to VIVIAD and VIVA-MIND studies.

• G&A expenses decreased to €4.9M from €6.8M year-over-year.

• Net loss for the first nine months of 2024 was €17.1M, flat year-over-year.

• Cash and cash equivalents stood at €12.5M as of September 30, 2024, down from €28.6M at year-end 2023.

• No revenue was reported for the nine months ended September 30, 2024 or 2023.

Outlook and guidance

• Cash runway is expected to fund operations into Q3 2025, with further funding or partnerships required for future clinical studies and DKD trial initiation.

• Additional VIVA-MIND data, including biomarker and preclinical results, will be disclosed in the coming months.

• A phase II study in DKD is planned for 2025, with potential for orphan kidney disease studies pending results and funding.