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01/11 16:26
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlights significant challenges: declining revenue due to reduced marketing, increased operating expenses, and substantial net losses. Despite efforts to pivot towards immunotherapeutics, financial constraints and regulatory hurdles pose risks. The cash position is weak, raising concerns about sustainability. While gross margins improved, the lack of positive catalysts like new partnerships or strong guidance suggests a negative outlook. The absence of clarity in management responses during the Q&A further exacerbates uncertainties, likely leading to a negative stock price reaction.
Revenue (Q2 2025) $86,000, a decrease from $140,000 in Q2 2024 (-38.57%). The decline was due to decreased unit sales of ClearUP, resulting from reduced marketing expenditures.
Revenue (First Half 2025) $156,000, a decrease from $474,000 in the first half of 2024 (-67.09%). The decline was attributed to reduced unit sales of ClearUP due to lower advertising expenses.
Cost of Sales (Q2 2025) $32,000, a decrease from $110,000 in Q2 2024 (-70.91%). The reduction was primarily due to decreased unit sales and restructuring of the supply chain with new partners.
Cost of Sales (First Half 2025) $52,000, a decrease from $277,000 in the first half of 2024 (-81.23%). The reduction was due to decreased unit sales and supply chain restructuring.
Gross Margins (Q2 2025) 63%, an increase from 21% in Q2 2024 (+42 percentage points). The improvement was due to reductions in product support and fulfillment costs.
Gross Margins (First Half 2025) 67%, an increase from 42% in the first half of 2024 (+25 percentage points). The improvement was due to reduced product support and fulfillment costs.
Operating Expenses (Q2 2025) $2 million, an increase from $1.3 million in Q2 2024 (+53.85%). The increase was primarily due to higher R&D investments in biologics programs, offset by reduced sales and marketing costs for ClearUP.
Operating Expenses (First Half 2025) $3.5 million, an increase from $3 million in the first half of 2024 (+16.67%). The increase was due to higher R&D investments in biologics programs, offset by reduced sales and marketing costs for ClearUP.
Net Loss (Q2 2025) $1.9 million, an increase from $1.3 million in Q2 2024 (+46.15%). The increase was due to higher operating expenses.
Net Loss (First Half 2025) $3.4 million, an increase from $2.7 million in the first half of 2024 (+25.93%). The increase was due to higher operating expenses.
Cash and Cash Equivalents (June 30, 2025) $1.2 million, a decrease from $2 million as of December 31, 2024 (-40%). The decrease was due to ongoing operational expenses.
Vagus Nerve Stimulation Devices: Advancing next-generation devices with a focus on personalization to improve therapeutic efficacy. Completed study visits for optimization trial and collaborating with the Feinstein Institute for reporting trial results.
Entolimod Drug Development: Exclusive licensing of Statera Biopharma's TLR5 agonist assets, including Entolimod, a Phase III drug candidate for acute radiation syndrome (ARS). Potential for significant government contracts and emergency use authorization from the FDA.
Oncology Market Expansion: Exploring Entolimod's potential to treat radiation and chemotherapy side effects, targeting a $19-$24 billion market for neutropenia drugs.
Operational Focus Shift: Exiting the Consumer Health Tech business to focus on prescription-based therapeutic pipeline, including biologic and bioelectronic therapies.
Cost Management: Reduced marketing expenses for ClearUP and restructured supply chain, leading to increased gross margins (63% in Q2 2025 vs. 21% in Q2 2024).
Strategic Licensing and Talent Acquisition: Acquired exclusive licenses for TLR5 assets and hired key personnel from Statera Biopharma to support regulatory, clinical, and business development efforts.
FDA Engagement: Planning a Type B meeting to finalize clinical and manufacturing requirements for Entolimod's Biologic Licensing Application (BLA).
Regulatory Hurdles: The company is in the process of transferring two existing INDs from Statera to Tivic and planning a Type B meeting with the FDA to confirm clinical manufacturing and validation requirements for their planned BLA. Delays or challenges in regulatory approvals could impact timelines and commercialization.
Financial Constraints: The company reported a net loss of $1.9 million for Q2 2025 and $3.4 million for the first half of 2025. Cash and cash equivalents totaled $1.2 million as of June 30, 2025, raising concerns about financial sustainability despite recent fundraising efforts.
Market Risks: The company is exiting the Consumer Health Tech business due to underperformance of ClearUP sales, which could lead to uncertainties in transitioning fully to the biopharmaceutical market.
Operational Challenges: The company is undergoing significant restructuring, including staff adjustments and new hires, which could disrupt operations or delay progress in their clinical and commercial programs.
Supply Chain Risks: The company is dependent on successful GMP manufacturing validation for Entolimod, and any delays in bioequivalence and biostability testing could impact commercialization timelines.
Entolimod for ARS: Tivic Health is advancing Entolimod, a Phase III drug candidate, for Acute Radiation Syndrome (ARS). The company is pursuing emergency use authorization and has received Fast Track and orphan drug designations from the FDA. A Type B meeting with the FDA is planned this year to confirm clinical manufacturing and validation requirements for a Biologic Licensing Application (BLA). GMP manufacturing validation is underway, with bioequivalence and biostability testing expected to take approximately a year.
Oncology Market Potential: Entolimod and its derivative, Entolasta, are being explored for treating radiation and chemotherapy side effects, including neutropenia and GI tract damage. The neutropenia drug market is projected to be $19-$24 billion in the coming years. Clinical trials for Entolimod in neutropenia are in early planning stages, with flexibility on trial commencement timing.
Vagus Nerve Stimulation (VNS) Device: Tivic is developing a noninvasive cervical vagus nerve stimulation (NcVNS) device, with optimization trial results expected later this year. The device aims to deliver clinical outcomes comparable to surgically implanted devices, targeting immune responses in cardiac, neurologic, and autoimmune conditions.
Exit from Consumer Health Tech: Tivic plans to exit the Consumer Health Tech business by year-end to focus on its prescription-based therapeutic pipeline. This includes exploring strategic transactions, spin-offs, or full divestitures of the ClearUP product line.
Financial and Operational Milestones: The company aims to complete the transfer of INDs from Statera, finalize GMP material production, validate bioequivalence, and report VNS trial results. These milestones are expected to drive progress in clinical and commercial opportunities.
The selected topic was not discussed during the call.
The earnings call highlights significant challenges: declining revenue due to reduced marketing, increased operating expenses, and substantial net losses. Despite efforts to pivot towards immunotherapeutics, financial constraints and regulatory hurdles pose risks. The cash position is weak, raising concerns about sustainability. While gross margins improved, the lack of positive catalysts like new partnerships or strong guidance suggests a negative outlook. The absence of clarity in management responses during the Q&A further exacerbates uncertainties, likely leading to a negative stock price reaction.
The earnings call reveals a promising strategic shift with new product acquisitions and improved financials, including increased revenue and reduced net loss. However, the lack of a shareholder return plan, competitive pressures, regulatory and supply chain risks, and unclear guidance on key programs like VNS and Entolimod's BLA filing temper the positive aspects. The absence of a share buyback program and concerns raised in the Q&A further add to the neutral sentiment. Without a market cap, the stock's reaction is uncertain, but the overall sentiment suggests limited short-term movement.
The earnings call highlights significant challenges, including a drastic revenue decline due to reduced advertising, a flat net loss, and dwindling cash reserves. Despite strategic moves like securing an equity line and strategic financing, the financial risks and regulatory hurdles, along with competitive pressures, overshadow potential gains. The market may react negatively to these uncertainties, particularly given the lack of clear guidance and the risks associated with transitioning to a biopharmaceutical focus.
The acquisition of Intellimod and strategic shift towards biopharmaceuticals, combined with advancements in VNS, indicate potential growth. Despite a decrease in revenue, the company's reduced expenses and no debt position provide financial stability. Optimistic guidance for 2025 and significant revenue potential for Intellimod further support a positive outlook. However, regulatory and competitive risks are noted, and the lack of a share buyback program is a minor negative factor.
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