VIVEVE MEDICAL, INC.
us.viveve.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 10, 2022. Its latest SEC filing is a 15-12G from Feb 6, 2023.
10-Q for Q3 FY2022, filed Nov 10, 2022
The sections below describe the company as of the FY2021 annual report.
What Did They Do?
Sells a radiofrequency medical system and single-use treatment tips to physicians for vaginal treatments outside the United States and general surgery in the United States.
10-K for FY2021, filed Mar 17, 2022Viveve designs, develops, manufactures and markets a platform medical technology, which we refer to as Cryogen-cooled Monopolar…View ↗
At this time, the Viveve System is indicated for use and being marketed for use in general surgical procedures for electrocoagulation and…View ↗
The Viveve System consists of three main components: a radiofrequency (“RF”) generator housed in a table-top console, a reusable handpiece…View ↗
How Did They Make Money?
Customers pay for the Viveve System, single-use treatment tips and other consumables when products ship; U.S. customers can also rent systems and pay over the lease term.
10-K for FY2021, filed Mar 17, 2022
$6.4M
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10-K for FY2021, filed Mar 18, 2022
$6.4M ↗
Who Were Their Customers?
Targets physicians who treat women's health and urinary conditions; U.S. customers buy through Viveve's sales force, while buyers in other regions are reached mainly through distributors.
10-K for FY2021, filed Mar 17, 2022To date, we have focused our commercial efforts in markets where we have received regulatory clearances/approvals. Within each market, we…View ↗
Through our direct sales employees, and distributors, we currently target physicians who have a demonstrated commitment to building a…View ↗
In the U.S., the Viveve System is sold through a direct sales force. In other regions, we market and sell primarily through a network of…View ↗
10-K for FY2021, filed Mar 17, 2022
In the United States, the Company sells its products primarily through a direct sales force to health care practitioners. Outside the…View ↗
Did Revenues Turn Into Profits?
No. It lost $22M in FY2021.
10-K for FY2021, filed Mar 18, 2022
−$21.6MView ↗
10-K for FY2021, filed Mar 18, 2022
−$22MView ↗
10-K for FY2021, filed Mar 18, 2022
−$13.3MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2022, filed Nov 10, 2022
−$5MView ↗
- ▼ −15% (Loss)
- vs −$5.9M in Q3 FY2021
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Jan 18, 2023
Nasdaq scheduled suspension and delisting after Viveve withdrew its hearing request
Viveve said it could not present a plan to regain listing compliance.
Sources
8-K, filed Jan 18, 2023
Further as reported on January 17, 2022, as a result of the Company’s business prospects following the results of the Company’s PURSUIT…View ↗
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Jan 17, 2023
PURSUIT trial missed endpoints; Viveve cut staff and considered a sale or wind-down
The company said trial results prompted a significant workforce reduction and exploration of a sale, asset sale or wind-down.
Sources
8-K, filed Jan 17, 2023
On January 17, 2023, the Company issued a press release entitled “Viveve Announces Topline Results from Pivotal U.S. PURSUIT Trial for…View ↗
Shrank. Revenue fell 58% in 4 years, from $15.3M in FY2017 to $6.4M in FY2021, about 19% a year.
System rentals
The older report describes selling systems and single-use tips; the latest adds a U.S. system-rental option alongside system purchases, so customers can rent rather than buy the system.
10-K for FY2018, filed Mar 15, 2019 10-K for FY2021, filed Mar 17, 2022As of December 31, 2018, we have sold 703 Viveve Systems and approximately 33,300 single-use treatment tips worldwide.View ↗
In October 2016, we received clearance from the FDA to sell the Viveve System for use in general surgical procedures for electrocoagulation…View ↗
Who Did They Compete With?
Competes with Inmode, Venus Concepts, BTL, Cynosure, Fotona, Syneron, Thermi Aesthetics, and Cutera
10-K for FY2021, filed Mar 17, 2022The medical device industry is characterized by intense competition and rapid innovation. While we believe that our solutions are unique…View ↗
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