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KVAC

Keen Vision Acquisition Corporation Ordinary Shares

KVAC

Keen Vision Acquisition Corporation Ordinary Shares • NASDAQ
$11.63 ▼ -0.77% (-0.09)
Market Cap $107.44 M
52w High $12.00
52w Low $10.89
Dividend Yield 0%
P/E -41.54
Volume 1
Outstanding Shares 9.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $373.466K ▼ 0% $-0.03 ▼ $0 ▲
Q2-2025 $0 $192.04K ▲ $558.055K ▼ 0% $0.052 ▼ $-192.04K ▼
Q1-2025 $0 ▼ $171.333K ▼ $568.171K ▼ 0% ▼ $0.052 ▼ $-171K ▼
Q4-2024 $2.079M ▲ $421.308K ▼ $808.529K ▼ 38.892% ▲ $0.06 ▼ $8.448M ▲
Q3-2024 $0 $505.662K $1.56M 0% $0.081 $-506K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $15.88K ▲ $56.046M ▼ $6.464M ▲ $-6.445M ▼
Q2-2025 $1.317K ▼ $73.128M ▲ $5.828M ▲ $67.3M ▲
Q1-2025 $15.964K ▼ $71.801M ▲ $5.059M ▲ $66.742M ▲
Q4-2024 $54.548K ▲ $70.437M ▼ $4.263M ▲ $66.174M ▲
Q3-2024 $40.504K $160.985M $3.221M $-3.178M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $373.466K ▼ $-177.61K ▲ $17.658M ▲ $-17.466M ▼ $14.563K ▲ $-177.606K ▲
Q2-2025 $558.055K ▼ $-178.647K ▲ $-600K $764K ▼ $-14.647K ▲ $-178.647K ▲
Q1-2025 $568.171K ▼ $-308.206K ▲ $-600K ▼ $869.622K ▲ $-38.584K ▼ $-308.206K ▲
Q4-2024 $808.529K ▼ $-461.041K ▼ $91.799M ▲ $-91.324M ▼ $14.044K ▲ $-461.041K ▼
Q3-2024 $1.56M $-310.85K $0 $90K $-220.849K $-310.85K

Five-Year Company Overview

Income Statement

Income Statement KVAC’s current income statement reflects a typical SPAC: no real operating business and effectively no revenue. The small reported profit is more an accounting artifact of the SPAC structure than evidence of a durable, cash‑generating company. In practical terms, the historical numbers tell you almost nothing about how the merged Medera business will eventually perform; the economic story will really start only after the merger, once Medera’s R&D, clinical, and potential partnership revenues show up in the accounts. Expect future income statements to be dominated by research and development costs for some time, not by steady profits.

Balance Sheet

Balance Sheet The balance sheet is lean and simple, again typical for a SPAC. KVAC holds a modest pool of assets with no reported debt and equity that largely reflects capital raised for the acquisition. There is no operating infrastructure, inventory, or traditional business assets yet. After the merger, the balance sheet will shift to look like a clinical‑stage biotech: heavy investment in R&D, intellectual property and licenses, along with a strong dependence on available cash and future capital raises. The company’s long‑term strength will hinge less on current balances and more on its ability to secure funding and manage cash against development milestones.

Cash Flow

Cash Flow Current cash flow statements are not very informative because KVAC has not been running an operating business; cash movements mainly relate to SPAC formation, listing, and transaction costs. Once Medera is combined with KVAC, the picture will change dramatically: operating cash flows will likely be negative for a prolonged period as the company spends heavily on clinical trials, manufacturing capabilities, and regulatory work. The key question going forward will be whether Medera can balance its cash burn with timely capital injections, partnerships, or milestone payments so that it can progress its pipeline without frequent financial strain.

Competitive Edge

Competitive Edge On a standalone basis KVAC has no competitive position, as it is only a shell. The strategic interest lies in Medera, its merger target. Medera operates in a highly competitive and scientifically challenging space—cardiovascular gene therapy and advanced heart disease modeling. Its edge comes from a distinctive combination of technologies: the “human heart‑in‑a‑jar” platform for realistic human heart modeling, a proprietary method for targeted gene delivery directly into the heart, and a pipeline of gene therapies that already enjoy regulatory recognition for serious, underserved conditions. These strengths give it a differentiated profile versus many other biotechs, but it still competes against large pharmaceutical companies and other innovators with substantial resources, and the field is fast‑moving and risky.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of the Medera story. Through Novoheart, the company can recreate miniature, beating human heart tissues that mimic real human disease, potentially making drug testing more predictive than traditional animal work. Through Sardocor, it is advancing gene therapies delivered straight to the heart muscle, aiming to use lower doses with better targeting. Its programs focus on some of the toughest and most impactful cardiovascular problems, with regulatory fast‑track designations adding validation. It is also layering artificial intelligence onto its heart models to speed and refine drug screening. All of this places Medera at the cutting edge of cardiovascular innovation, but outcomes remain uncertain: clinical trials, safety, long‑term effectiveness, and regulatory decisions will ultimately determine whether this R&D translates into successful products.

Summary

KVAC today is essentially a financial vehicle; its current financial statements are clean but not very meaningful for long‑term evaluation because it has no operating business. The real substance comes from the planned merger with Medera, a clinical‑stage biotech focused on advanced cardiovascular therapies and human heart modeling technologies. If the deal closes as expected, investors will be looking at a high‑innovation, high‑uncertainty biotech story, not a mature financial services company. Future results will likely involve years of heavy R&D spending, negative operating cash flow, and dependence on external capital while Medera works through clinical trials and regulatory processes. The main things to watch are merger completion, progress and safety data from clinical trials, the pace of new partnerships, and how effectively the combined company manages its cash and development risks.