Vigil Neuroscience Reports $26.7 Million Net Loss in Q2 2025, Plans Merger with Sanofi

Vigil Neuroscience, Inc. reported a net loss of $26.7 million for the second quarter of 2025, compared to a net loss of $21.2 million for the same period in 2024. For the first half of 2025, the company recorded a net loss of $49.1 million, up from $41.2 million in the prior year. The increase in losses is attributed to higher operating expenses, which rose to $27.5 million in Q2 2025 from $22.5 million in Q2 2024, driven primarily by increased research and development costs associated with its clinical programs, particularly for iluzanebart and VG-3927.

Total operating expenses for the first half of 2025 reached $51.0 million, compared to $43.9 million in the same period last year. Research and development expenses increased to $33.9 million from $29.9 million, reflecting ongoing clinical trials and related activities. General and administrative expenses also rose to $17.0 million from $14.0 million, largely due to legal and professional fees related to the company's proposed merger with Sanofi. The company’s accumulated deficit grew to $356.1 million as of June 30, 2025, up from $307.0 million at the end of 2024.

In terms of liquidity, Vigil reported cash, cash equivalents, and marketable securities totaling $67.0 million as of June 30, 2025. The company raised $13.3 million through the sale of common stock under its at-the-market facility during the first half of the year. Vigil has also entered into a merger agreement with Sanofi, which is expected to close in the third quarter of 2025, subject to customary conditions. Under the agreement, Sanofi will acquire Vigil for $8.00 per share in cash, along with a contingent value right of $2.00 per share tied to the commercial sale of VG-3927.

Vigil's operational focus remains on advancing its clinical candidates, particularly VG-3927, an orally bioavailable small molecule TREM2 agonist aimed at treating Alzheimer's disease. The company has reported favorable safety and tolerability results from its Phase 1 clinical trial of VG-3927, which included a diverse cohort of participants. However, the company acknowledges the inherent risks and uncertainties in drug development, including the potential for delays in clinical trials and the need for additional funding to support ongoing operations.

Looking ahead, Vigil anticipates continued significant operating losses as it progresses through clinical development stages. The company emphasizes the necessity of securing additional funding to support its research and development efforts, particularly if the merger with Sanofi does not proceed as planned. Vigil's management remains focused on navigating the complexities of the biopharmaceutical landscape while striving to bring its therapeutic candidates to market.