Vivani Medical Q3 EPS $(0.13) Misses $(0.12) Estimate; Cash, Cash Equivalents And Restricted Cash Of $26.2M Are Estimated To Be Sufficient To Fund Operations Into Early 2025
Portfolio Pulse from Benzinga Newsdesk
Vivani Medical (NASDAQ:VANI) reported a Q3 EPS loss of $(0.13), missing the $(0.12) estimate by 8.33%. This represents a significant decrease from the $0.04 per share earnings in the same quarter last year. The company's cash reserves of $26.2M are expected to fund operations into early 2025.
November 14, 2023 | 11:16 am
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NEGATIVE IMPACT
Vivani Medical reported a larger-than-expected Q3 loss and a significant decrease in earnings compared to the same quarter last year. However, the company has sufficient cash to fund operations into early 2025.
The missed EPS estimate and the significant year-over-year decrease in earnings are likely to negatively impact investor sentiment in the short term. However, the company's cash position may provide some reassurance about its medium-term financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100