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ALAMEDA, Calif. - Vivani Medical, Inc. (NASDAQ: VANI), a biopharmaceutical company with a market capitalization of $65.16 million, announced promising preclinical results for its NPM-139, a semaglutide implant designed for chronic weight management. In a recent study, NPM-139 demonstrated nearly 20% placebo-adjusted weight loss from a single administration, with potential once or twice-yearly dosing. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 3.41, though it reported an EBITDA of -$24.02 million in the last twelve months.
The study, conducted in healthy Sprague-Dawley rats, showed that body weights were significantly lower compared to a control group over a 91-day period. The semaglutide implant, part of Vivani’s NanoPortal™ technology, is intended to provide steady delivery of GLP-1 therapy, potentially improving medication adherence and tolerability.
With semaglutide products generating $25 billion in 2024 and a high rate of missed doses among patients, Vivani sees a substantial opportunity for NPM-139 to enhance treatment outcomes by ensuring consistent medication delivery. The company’s CEO, Adam Mendelsohn, Ph.D., stated that the technology could transform GLP-1 therapy adoption. While the stock currently trades near its 52-week low of $1.03, InvestingPro analysts have set price targets ranging from $4 to $8, suggesting potential upside. Subscribers can access 8 additional ProTips and comprehensive financial metrics on the platform.
The NanoPortal technology has also been applied in the NPM-115 (exenatide implant) program, with the first human study, LIBERATE-1, progressing as expected. This trial aims to assess the safety, tolerability, and pharmacokinetics of the implant in obese or overweight subjects. Preliminary data from LIBERATE-1 is anticipated by mid-2025.
Vivani is leveraging Australian research and development rebates to offset clinical trial costs, and the data generated is expected to be acceptable to the U.S. Food and Drug Administration and other regulatory authorities.
The company’s portfolio includes the NPM-115 for chronic weight management and NPM-119, an exenatide implant for type 2 diabetes treatment. Vivani is confident in its differentiated long-acting GLP-1 implants’ potential to provide an attractive treatment option. With earnings expected tomorrow (March 27, 2025), investors can access detailed financial analysis and real-time updates through InvestingPro’s comprehensive coverage of biotech stocks.
This press release contains forward-looking statements regarding the development and potential of Vivani’s products and technology. The company cautions that these statements are subject to uncertainties and risks, and actual results may differ materially. The information in this article is based on a press release statement from Vivani Medical, Inc.
In other recent news, Vivani Medical has announced the successful administration of its GLP-1 (exenatide) implant in the LIBERATE-1 clinical trial. This trial, which has achieved full enrollment, aims to assess the safety, tolerability, and pharmacokinetics of the NPM-115 implant. The company expects top-line results from this study in mid-2025. In a strategic move, Vivani Medical plans to spin off its division, Cortigent, Inc., into a separate publicly traded company. This spin-off is intended to streamline operations and focus on Vivani’s core business of developing drug implants for chronic weight management and type 2 diabetes. H.C. Wainwright has maintained a Buy rating on Vivani Medical with a price target of $3.00, viewing the spin-off as a strategic move to enhance value creation for both Vivani and Cortigent. The spin-off is expected to be finalized by or before the third quarter of 2025, subject to regulatory approvals. Vivani stockholders will receive a proportional distribution of shares in the new company, Cortigent.
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