Viveve Medical (NASDAQ: VIVE), a medical technology company focused on women’s health and the treatment of female stress urinary incontinence (“SUI”), has reported its financial results for the third quarter 2022, the period ended Sept. 30, 2022. Highlights of the report include total revenue for the company reaching $1.7 million for the third quarter 2022, increasing the installed base of Viveve Systems to 915 worldwide, with 479 in the United States and 436 internationally; approximately 3,100 single-use disposable treatment tips sold globally; advanced 12-month follow-up visits in pivotal U.S. PURSUIT clinical trial for SUI targeting completion of final follow visits by the end of 2022 and reporting of topline data thereafter; and expanded IP as a result of the company’s reported notice of allowance for a second SUI method patent from the U.S. Patent and Trademark Office. Other financial numbers include total operating expenses for the quarter reaching $5.2 million, compared to $5.6 million for the same period in 2021, and net loss attributable to common stockholders for Q3 2022 reaching $6.3 million, or ($0.59) per share based on 10,655,410 weighted average shares outstanding during the period. The company also reported cash and cash equivalents of $5.9 million as of Sept. 30, 2022, down from $19.2 million as of Dec. 31, 2021. “During the third quarter of 2022, we continued to make great progress in the final phase of our pivotal U.S. PURSUIT clinical trial for the treatment of female stress urinary incontinence,” said Viveve Medical CEO Scott Durbin in the press release. “We remain on track to complete patient follow-up visits by the end of the year with topline results expected shortly thereafter. We are also pleased with our commercial results during the third quarter as we continue our ongoing efforts to increase adoption and utilization of the Viveve(R) System by core medical specialists in urology, urogynecology and gynecology in the U.S. and Asia Pacific regions.”
To view the full press release, visit https://ibn.fm/XgY9Q
About Viveve Medical Inc.
Viveve is a women’s health company focused on the treatment of female stress urinary incontinence (“SUI”). Based in Englewood, Colorado, the company is conducting a pivotal U.S. clinical trial called PURSUIT, using its novel, dual-energy treatment for SUI in women. The internationally patented Viveve(R) System incorporates cryogen-cooled monopolar radiofrequency technology to uniformly provide an endovaginal treatment that is nonablative. In the United States, the Viveve System is cleared by the U.S. Food and Drug Administration (“FDA”) for use in general surgical procedures for electrocoagulation and hemostasis. International regulatory approvals and clearances have been received for vaginal laxity and/or improvement in sexual function and/or urinary incontinence. Viveve’s current commercial and market development efforts focus on the U.S. and Asia Pacific regions targeting urogynecology, urology and gynecology core specialties. Viveve received FDA approval of its Investigational Device Exemption (“IDE”) application to conduct the multicenter, randomized, double-blinded, sham-controlled PURSUIT trial for improvement of SUI in women in July 2020, and FDA approval of its requested IDE protocol amendments in December 2020. The clinical trial was initiated in January 2021, and completion of subject enrollment was announced on Dec. 14, 2021. Completion of subject follow-up visits is anticipated by the end of 2022, and topline results will be reported shortly thereafter. If positive, results from the PURSUIT clinical trial may support a new SUI indication in the United States. For more information about the company, visit www.Viveve.com.
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