VivoSim Labs, Inc. reported its financial results for the three and nine months ended December 31, 2025, revealing a total revenue of $26,000 for the quarter, a slight increase from $24,000 in the same period last year. For the nine-month period, revenue totaled $91,000, down from $93,000 in the prior year. The company’s royalty revenue increased to $26,000 for the quarter, up 73% from $15,000 in the previous year, while product revenue was negligible, reflecting the cessation of operations in its former Mosaic division. The net loss for the quarter was $2.7 million, a decrease from a loss of $3.4 million in the same quarter of 2024, while the nine-month net loss was $8.1 million, compared to $9.3 million in the prior year.
In terms of operational changes, VivoSim Labs has shifted its focus from product development to offering services related to liver and intestinal toxicology insights using its proprietary 3D human tissue models. The company anticipates increased adoption of these models following regulatory changes by the FDA aimed at reducing animal testing. VivoSim also sold its FXR program for $10 million in March 2025, with potential future milestones of up to $50 million based on the asset's performance. This strategic pivot is expected to enhance the company's service offerings and client base.
The company reported a decrease in research and development expenses, which totaled $1.1 million for the quarter, down 36% from the previous year, primarily due to a reduction in personnel costs and material expenses. Selling, general, and administrative expenses also saw a slight decline to $1.6 million, reflecting cost management efforts. VivoSim's average full-time employee count in R&D decreased from 13 to 10, contributing to the reduced expenses. The company continues to focus on its Preclinical IBD Program, aiming to have a product candidate ready for FDA submission by December 2026.
As of December 31, 2025, VivoSim had cash and cash equivalents of approximately $4.3 million, down from $11.3 million at the end of the previous fiscal year. The company reported negative cash flows from operations of $8.6 million for the nine months ended December 31, 2025, compared to $7.4 million in the same period of 2024. With current liabilities of $2.5 million and total current assets of $6.0 million, VivoSim has a working capital of $3.5 million. The company has indicated that it will require substantial additional funding to support its ongoing operations and business strategy.
Looking ahead, VivoSim Labs plans to continue expanding its service offerings in toxicology and drug development, while also seeking additional capital through equity or debt financing. The company has expressed concerns regarding its ability to continue as a going concern, given its current liquidity position and ongoing cash requirements. Future financing will be critical to support its operational activities and strategic initiatives, particularly as it aims to capitalize on the growing demand for non-animal testing methodologies in drug development.
About VivoSim Labs, INC.
VivoSim Labs, Inc. specializes in providing testing services using 3D human tissue models of liver and intestine for drug safety and toxicology assessment. The company develops and offers bespoke toxicology insights, supporting pharmaceutical and biotech clients throughout drug development. Leveraging proprietary bioprinting and tissue engineering technologies, VivoSim aims to reduce drug development risks and costs, with a focus on non-animal testing methodologies and advanced disease models.
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