Envveno Medical Corp.

Medical Devices • Healthcare • Irvine, CA, United States • NVNBW (PNK)

949 261 2900 70 Doppler, Irvine, CA 92618, United States

Quarter: Q4 2025 Reported: December 12, 2025 Sentiment: Negative

enVVeno Medical Corporation, a clinical-stage medical device company, focuses on the development of bioprosthetic tissue-based solutions to enhance the standard of care in the treatment of venous disease. The company's lead product is the VenoValve, a replacement venous valve for the treatment of venous chronic venous insufficiency. Its VenoValve implanted into the femoral vein of the patient in an open surgical procedure via a 5-to-6-inch incision in the upper thigh. The company also develops enVVe, a non-surgical and transcatheter-based replacement venous valve system consisting of the enVVe valve, enVVe delivery system, and delivery system accessories. The company was formerly known as Hancock Jaffe Laboratories, Inc. and changed its name to enVVeno Medical Corporation in October 2021. enVVeno Medical Corporation was incorporated in 1999 and is based in Irvine, California.

Analysis Summary

enVVeno Medical Corporation (NVNO) held its 2025 Annual Meeting of Stockholders on December 11, 2025, with 54.70% of voting power represented. The meeting focused on corporate governance matters rather than financial performance, as this 8-K filing does not contain Q4 2025 earnings or revenue figures.

**Strategic Initiatives and Business Segment Analysis:** The primary strategic outcomes from the meeting relate to corporate structure and incentive mechanisms. The rejection of the 2025 Equity Incentive Plan indicates shareholder dissent regarding proposed new equity compensation, potentially impacting future talent acquisition or retention strategies. The Board's newly granted authority for a reverse stock split provides a critical tool to manage share price and maintain NASDAQ listing compliance, which is a strategic maneuver often employed by companies with low stock valuations.

**Management Commentary and Forward Guidance:** As this is an 8-K filing detailing voting results, there is no direct management commentary or forward guidance on operational performance, revenue, or earnings. The outcomes reflect shareholder decisions on proposals put forth by the board.

**Competitive Positioning and Market Trends:** The document does not offer insights into competitive positioning or broader market trends. The need for a reverse stock split, however, can be indicative of a stock price that has underperformed relative to market expectations or peers, potentially signaling challenges in investor confidence or operational execution.

**Risk Factors and Concerns Raised:** A key concern is the rejection of the 2025 Equity Incentive Plan, which could limit the company's flexibility in attracting and retaining key personnel through equity incentives. The authorization for a reverse stock split, while a necessary tool, highlights the underlying risk of a low stock price, which could lead to delisting concerns if not addressed effectively. The absence of financial performance data in this specific report also means investors lack immediate insight into the company's operational health for Q4 2025.

Key Highlights

• Matthew M. Jenusaitis and Robert A. Berman were elected as Class II directors.
• Shareholders approved, on an advisory basis, the compensation of named executive officers.
• CBIZ CPAs P. C. was ratified as the company's registered public accounting firm for fiscal year 2025.
• The proposed 2025 Equity Incentive Plan was voted against by shareholders, leaving the 2016 plan in effect.
• The Board of Directors was granted authority to effectuate a reverse stock split at a ratio between one-for-five and one-for-thirty-five.

Financial Metrics

eps

revenue

guidance

net income

Stock Performance (90 Days)

Data through Dec 26, 2025

Layoff Events

Earnings Calls

Positive Signals

• Successful election of directors ensures board continuity.
• Shareholder approval of executive compensation indicates alignment on current pay structures.
• Ratification of the independent auditor maintains corporate governance standards.
• Board granted flexibility to implement a reverse stock split, providing a tool to address listing requirements.

Risks & Concerns

— Rejection of the 2025 Equity Incentive Plan may hinder future talent acquisition and retention efforts.
— The need for a reverse stock split authority often signals a low stock price, potentially indicating underlying operational or market challenges.
— Potential for negative investor perception due to the implications of a reverse stock split.
— Lack of specific Q4 2025 financial performance data in this filing prevents a comprehensive assessment of recent operational health.