VivoSim Labs, INC.VIVS

VivoSim Labs, Inc. describes itself as a pharmaceutical and biotechnology services outfit focused on ‘innovative solutions for drug discovery and development,’ but the numbers in its latest 10-K tell a different story. For the year to 31 March 2026, VivoSim booked just $131,000 in revenue while burning $13.8 million in net losses. Cash on hand at year-end stood at $5 million, while liabilities outstripped assets by $1.1 million, leaving shareholders with negative equity. The company’s March 2026 10-K is the plainest evidence we have: VivoSim is a cash-incinerating micro-cap with a website and a dream, not a scaled drug-development platform.

VivoSim’s 8-K on 24 July 2026 shows it has priced a $4 million private placement, a move that will dilute existing holders while extending the runway. The company also has a ‘at the market’ offering agreement allowing it to sell up to $3.1 million more shares to the public-an optics-first capital strategy dressed up as financing. The proceeds are earmarked for working capital and general corporate purposes, which in practice means ‘we need cash to keep the lights on.’ The filing makes no mention of near-term profitability or a path to positive cash flow.

VivoSim’s 10-K claims it once operated a ‘former product-based division, Mosaic Cell Sciences,’ producing high-quality cell-based products for R&D and life science customers. Yet the same filing lists zero inventory on the balance sheet and reports $0 spent on property, plant, and equipment, suggesting Mosaic’s products never scaled or left the lab. VivoSim’s pipeline narrative-FDA approvals, Phase 2 trials, 3D cell bioprinting-lives on Organovo’s marketing site rather than in VivoSim’s filings, underscoring the gap between platform storytelling and operating reality. VivoSim’s Organovo-related pages tout clinical and commercial development, but VivoSim’s own filings contain none of those achievements.

VivoSim’s 10-K shows $131,000 revenue, net loss of $13.8 million, operating loss of $11.5 million, assets of $7.4 million, liabilities of $8.5 million, negative equity of $1.1 million, cash of $5 million, operating cash burn of $10.8 million, and R&D expense of $4.2 million for the year ended 31 March 2026. Inventory is $0, capex is $0, diluted EPS is $-5.35, and weighted average diluted shares outstanding are 2.6 million. The company’s Organovo connection is referenced in footnotes and 8-Ks but is not reflected in VivoSim’s own revenue or asset base.

If you want a chart, VivoSim trades on the OTCQB under the symbol VIVS. The company is not eligible for inclusion in major US indices due to its thin liquidity and limited disclosure, so any chart you see will be a thinly traded micro-cap line with wide spreads and stale prints. The source rail for price and volume is OTC Markets; the company’s SEC filings are the primary disclosure, and they show a business that has not yet earned its keep.

VivoSim’s April 2026 8-K announcing a $4 million private placement offers no near-term revenue catalysts, no product approvals, and no customer contracts beyond generic ‘working capital’ language. Its July 2026 8-K concerning the placement confirms the size and use of proceeds but adds no operational detail. The only concrete path to relief is further dilution or an acquisition-neither of which is promised in the filings.

The company’s Organovo-related news and pipeline pages portray a biotech innovator with FDA approvals and Phase 2 trials, but VivoSim’s own 10-K and 8-Ks contain none of these milestones. The Organovo site is promotional material, not VivoSim’s audited history. VivoSim’s disclosures are what matter for investors, and they paint a picture of a cash-burning micro-cap with no revenue scale and negative equity. Until VivoSim files audited financials showing recurring revenue, positive cash flow, or a material asset that isn’t ‘potential,’ the gap between platform narrative and balance sheet will remain the only thing with substance.