Viveve Medical, Inc.

Total revenue for the third quarter was $1.7 million, from the global sale of 11 systems and approximately 3,100 disposable treatment tips. Total operating expenses were $5.2 million versus $5.6 million in the same period last year, a decrease mainly tied to reduced clinical study costs, partly offset by engineering, development, and strategic planning spending. Cash and cash equivalents were $5.9 million as of September 30, 2022. Management did not provide next-quarter or full-year revenue/EPS guidance on the call, but said all patient follow-up visits in the PURSUIT trial are expected to be completed by the end of the year and top-line results should follow shortly thereafter.

Scott Durbin framed the quarter around execution on the company’s SUI strategy and said confidence remains high in the PURSUIT study design and the company’s ability to pursue a U.S. SUI indication. He emphasized three priorities: finishing follow-up, preparing a de novo filing and potential commercial launch if data are positive, and expanding the installed base and tip utilization in the U.S. and Asia Pacific. His tone was constructive and forward-looking, but clearly dependent on the upcoming trial readout.

Jim Robbins focused on the reported quarter’s financial performance and cost discipline. He highlighted $1.7 million of revenue, $5.2 million of operating expenses versus $5.6 million a year ago, and $5.9 million of cash and cash equivalents at quarter-end. He attributed lower expenses primarily to reduced clinical study costs as PURSUIT advanced, partially offset by increased engineering, development, and strategic planning costs tied to next-generation products and trial completion.

There was no substantive analyst Q&A in the transcript provided, so there were no additional analyst concerns or management clarifications beyond the prepared remarks. The main forward-looking discussion centered on timing: completing final PURSUIT follow-up visits by year-end, reporting top-line results shortly thereafter, and potentially submitting a de novo application to the FDA if the study is positive. Management also reiterated commercial focus on expanding the installed base and improving disposable tip utilization.