Viveve Medical (NASDAQ: VIVE), a medical technology company focused on women’s health and the treatment of female stress urinary incontinence (“SUI”), has released its financial results for the third quarter of 2022, the period ending September 30, 2022. Highlights of the report include total revenue for the company reaching $1.7 million for the third quarter of 2022, bringing Viveve Systems’ installed base to 915 globally, including 479 in the United States and 436 in international; approximately 3,100 single-use disposable treatment tips sold worldwide; 12-month advanced follow-up visits in the pivotal U.S. PURSUIT clinical trial for SUI targeting completion of final follow-up visits by the end of 2022 and reporting of primary data thereafter; and extension of intellectual property following the company’s notice of acceptance for a second SUI method patent from the United States Patent and Trademark Office. Other financial figures 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 shareholders for the third quarter of 2022 reaching $6.3 million, or ($0.59) per share based on a weighted average of 10,655,410 shares outstanding during the period. The company also reported cash and cash equivalents of $5.9 million as of September 30, 2022, compared to $19.2 million as of December 31, 2021. “During the third quarter of 2022, we continued to make great progress in the final phase of our U.S. PURSUIT pivotal clinical trial for the treatment of female stress urinary incontinence,” Viveve Medical CEO Scott Durbin said in the press release. “We remain on track to complete patient follow-up visits by the end of the year, with first results expected shortly thereafter. We are also pleased with our commercial results in the third quarter as we continue our ongoing efforts to increase the adoption and use of the Viveve(R) System by leading medical specialists in urology, urogynecology and gynecology in the United States 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 specializing in the treatment of female stress urinary incontinence (“SUI”). Based in Englewood, Colorado, the company is conducting a pivotal US clinical trial called PURSUIT, using its new dual-energy treatment for SUI in women. The internationally patented Viveve® System incorporates cryogen-cooled monopolar radiofrequency technology to consistently deliver non-ablative endovaginal therapy. In the United States, the Viveve System is cleared by the United States 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 enhancement of sexual function and/or urinary incontinence. Viveve’s current business and market development efforts are focused on the United States and Asia-Pacific regions targeting the core specialties of urogynecology, urology and gynecology. Viveve Receives Investigational Device Exemption (“IDE”) Approval from the FDA to Conduct the Multicenter, Randomized, Double-Blind, Simulation-Controlled PURSUIT Trial for Improvement of SUI in women in July 2020, and FDA approval for its requested IDE protocol changes in December 2020. The clinical trial was initiated in January 2021 and completion of subject enrollment was announced on December 14, 2021 Subject follow-up visits are expected to be completed by the end of 2022, with key results to be reported shortly thereafter. . If positive, the results of 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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