enVVeno Medical (NVNO) - 2024 Q4 - Annual Report

Financial Performance - The company reported net losses of $21.8 million for the year ended December 31, 2024, a decrease of 7$23.5 million loss in 2023[173]. - The company incurred losses from operations of $23.8 million and used$16.8 million in cash for operating activities in 2024, a decrease from $18.9 million in 2023[179]. - The cash balance as of December 31, 2024, was$1.8 million, with total cash and investments amounting to $43.2 million[179]. - The company anticipates an increase in cash burn rate to$5 million to $6 million per quarter in 2025, while having sufficient cash to fund operations through mid-2026[183]. Expenses - Research and development expenses decreased by 10$12.2 million in 2024 from $13.6 million in 2023, primarily due to reduced costs for the SAVVE trial[174]. - Selling, general and administrative expenses decreased by 1$11.6 million in 2024, driven by a $1.1 million reduction in share-based compensation[176]. Income and Investments - Other income increased to$2.0 million in 2024 from $1.7 million in 2023, reflecting realized gains and interest from investments in U.S. Treasury securities[178]. - The company has no current revenue and relies on future commercialization of its products for potential income[172]. Future Plans - The company aims to receive FDA approval for the VenoValve in 2026 and has begun limited activities toward commercial launch[181]. - The company expects a modest increase in capital expenditures related to ongoing clinical trials and commercialization efforts[182].