Vivani soars on positive preclinical data from weight-loss trial

Vivani Medical

28/02/2024 14:21

** Shares of Vivani Medical  VANI.O  more than triple to
$3.54 premarket 
    ** Co says its experimental implant led to weight loss of
about 20% in obese mice compared to sham treatment in a
pre-clinical study
    ** NPM-115 implant generated significant weight loss from a
single administration with expected twice-yearly dosing - co
    ** The tiny biotech firm, which had a market cap of ~$51 mln
as of Tuesday's close, joins a growing list of cos hoping to
cash in on success of companies such as Novo Nordisk  NOVOb.CO 
and Eli Lilly  LLY.N  in the $100 bln weight loss market
    ** VANI shares had fallen ~2% in the past 12 months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))