On Monday, H.C. Wainwright reaffirmed a Buy rating on shares of Vivani Medical (TASE:PMCN), Inc. (NASDAQ: VANI), with a price target of $3.00. Currently trading at $1.18, the stock shows significant upside potential, with analyst targets ranging from $3.00 to $8.00. According to InvestingPro data, the stock has experienced volatility, declining 10.61% in the past week. The firm's optimism is tied to the progression of Vivani Medical's clinical development, specifically the initiation of the LIBERATE-1 clinical trial for their drug candidate NPM-115.
The LIBERATE-1 trial began patient screening and enrollment on December 19 at two sites in Australia. NPM-115 is an exenatide implant developed from Vivani Medical’s NanoPortal technology, designed to treat obesity or overweight subjects. The trial aims to assess the safety, tolerability, and pharmacokinetics of NPM-115.
The study protocol outlines an enrollment of subjects who will first undergo an eight-week titration phase with semaglutide injections before being randomized into three groups. Each group will have eight subjects receiving different treatments over nine weeks: a single administration of NPM-115, weekly exenatide injections, or weekly 1 mg semaglutide injections. The primary measure of the trial will be changes in the subjects' weight.
Vivani Medical's management team anticipates reporting the LIBERATE-1 trial data by mid-2025. H.C. Wainwright's analyst suggests that NPM-115 could potentially demonstrate efficacy comparable to semaglutide, a widely used treatment, but with the convenience of biannual administration.
The firm's reiterated Buy rating and price target reflect confidence in the potential market impact of NPM-115. InvestingPro analysis reveals the company's overall financial health score is Fair, with 8 additional key insights available to subscribers, including detailed profitability and growth metrics.
In other recent news, biopharmaceutical firm Vivani Medical has initiated the first human clinical trial for its GLP-1 (exenatide) implant, a significant development in obesity treatment.
The trial, named LIBERATE-1, is underway in Australia and marks the initial application of Vivani's proprietary NanoPortal™ drug implant technology. The trial aims to assess the safety, tolerability, and pharmacokinetic profile of the exenatide implant in overweight or obese participants, with a focus on weight change as the primary measure.
Vivani's President and CEO, Adam Mendelsohn, Ph.D., has indicated the potential for the GLP-1 implant to offer efficacy comparable to semaglutide, with the added convenience of twice-yearly administration. The company's drug implants are designed to address medication non-adherence, a significant challenge in managing chronic diseases.
In addition to this, Vivani Medical has received approval from the Bellberry Human Research Ethics Committee and acknowledgment from the Therapeutic Goods Administration in Australia for the trial. The company also received FDA approval for the Phase 1 clinical trial of its diabetes treatment implant, NPM-119.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.