Vivani reports start of first human trial of GLP-1 implant, says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating and $4 price target on Vivani Medical (VANI) shares after the company announced that the first-in-human clinical trial of NPM-115, an exenatide implant based on the company’s NanoPortal platform technology, has started patient screening and enrollment at two clinical sites in Australia. The firm believes that NPM-115 has the potential to show comparable efficacy to semaglutide with twice-yearly administration, the analyst tells investors in a research note. In addition, H.C. Wainwright thinks the company could choose to raise additional capital within the next 12 months.