Tivic Health Systems, Inc. underwent a material strategic transformation in 2025, pivoting from a diversified bioelectronic medical device company to a focused biopharmaceutical company centered on its Toll-like Receptor 5 (TLR5) agonist franchise, Entolimod and Entolasta. The company acquired worldwide exclusive license rights and options to Entolimod and Entolasta from Statera Biopharma, Inc. in February 2025, including a complete regulatory, clinical, and non-clinical data package. In December 2025, Tivic established Velocity Bioworks as a wholly-owned Contract Development and Manufacturing Organization (CDMO) subsidiary through the acquisition of manufacturing and development assets from Scorpius Biomanufacturing. Tivic ceased sales of its ClearUP sinus device and related operations by year-end 2025 and suspended development of its non-invasive cervical vagus nerve stimulation platform to concentrate resources on the TLR5 platform and Velocity Bioworks. The company reported a net loss of $8.9 million for the year ended December 31, 2025, an increase from $5.7 million in 2024. Cash used in operating activities increased to $7.0 million in 2025 from $5.7 million in 2024. As of December 31, 2025, the company had cash and cash equivalents of $12.6 million and an accumulated deficit of $52.6 million. Management has identified a material weakness in internal control over financial reporting due to staffing levels. On March 19, 2026, Nasdaq notified the company of non-compliance with the minimum bid price requirement, as its common stock traded below $1.00 per share for 30 consecutive business days.