Viveve Medical Inc. (VIVE) shares have declined 8.66% in premarket on Thursday, June 3, 2021, as of this writing. VIVE’s stock remained unchanged in Wednesday’s session at $2.77 per share. VIVE shares have fallen 55.95% over the last 12 months, and they have moved up 8.20% in the past week. Over the past three months, the stock has lost 14.77%, while over the past six months, it has plunged 48.22%.
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Let’s have a look at its recent news and developments.
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Annual Meeting adjourned 2nd time
On June 2, 2021, Viveve Medical, Inc adjourned its 2021 Annual Meeting of Stockholders for a second time due to a lack of quorum. The adjourned meeting will be held at 12:00 PM Eastern Time on Wednesday, June 23, 2021.
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Recent financial results
On May 13, 2021, Viveve Medical, Inc released its financial results for the first quarter of 2021, which ended March 31, 2021.
Q1 2021 financial highlights
- Viveve Medical reported revenue of $1.5 million for Q1 2021 compared to $1.3 million for the same period in 2020.
- Gross profit was $0.4 million in Q1 2021 compared to gross profit of $0.2 million in Q1 2020.
- The company spent $5.5 million in operating expenses in Q1 2021 compared to $6.0 million in Q1 2020.
- Net loss attributable to common stockholders was $6.9 million, or ($0.80) per share for the first quarter of 2021 compared to a net loss of $7.3 million, or ($8.17) per share for the first quarter of 2020.
- On March 31, 2021, the Company had cash and cash equivalents of $28.4 million compared to $6.5 million as of December 31, 2020.
IP Portfolio expansion
On April 1, 2021, Viveve Medical, Inc announced that the Taiwan Intellectual Property Office (TIPO) recently issued Taiwan Patent No. 1720358 for Viveve’s dual-energy technology device. The awarded patent further expands and strengthens Viveve’s intellectual property portfolio in one of Asia’s key markets.
FY 2020 financial results announcement
On March 18, 2021, Viveve Medical, Inc announced its financial results for the year ended December 31, 2020.
FY-2020 financial highlights
- Viveve Medical reported revenue of approximately $5.5 million for FY 2020 compared to $6.57 million in FY 2019.
- Gross profit for 2020 was approximately $0.3 million compared to gross profit of approximately $1.0 million in FY 2019.
- Total operating expenses were approximately $18.8 million in FY 2020 compared to $31.7 million for FY 2019.
- earch and development expenses were approximately $5.1 million in FY 2020 compared to approximately $8.6 million in 2019.
- Net loss attributable to common stockholders was approximately $26.1 million, or a net loss of $16.56 per share in FY 2020 compared to a net loss of approximately $42.9 million, or a net loss of $343.84 per share in FY 2019.
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Conclusion
As of this writing, there is no negative news that could justify its early morning loss on Thursday. we hope that VIVE stock will pick up later in the day.