Vivani Medical experienced a significant increase in its stock shares following the release of positive preclinical data regarding the weight loss effects of one of its experimental implants. The company, currently in the preclinical stage, announced promising results from a study conducted on mice.
Market Reaction
The news resulted in a 385% surge in the stock price, reaching $4.89 during premarket trading. Despite a previous decrease of over 8% in shares over the last year leading up to this announcement, investors responded positively to the research findings.
NPM-115 Implant Results
Vivani Medical’s NPM-115, a miniature exenatide implant designed for biannual use in the treatment of chronic weight management, demonstrated significant weight loss effects in mice. The outcomes were on par with those achieved through semaglutide injections in the same study.
Upcoming Conference Presentation
Adam Mendelsohn, the Chief Executive Officer of Vivani Medical, is scheduled to present the detailed study results at the TIDES USA 2024 conference in Boston on May 17th. This platform will showcase the company’s advancements in addressing the growing medical necessities and market demands related to obesity and chronic weight management.
Future Development Focus
Mendelsohn emphasized the company’s commitment to advancing the development of GLP-1 implants as a priority to address the urgent medical requirements and high market interest in managing obesity effectively.
For more information or inquiries, contact Vivani Medical at VivaniMedical.com
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