Vivani Medical Prices Common Stock Offering at $1.48 Per Share to Fund Clinical Development

Vivani Medical, Inc. (VANI) has announced a dual financing strategy, pricing its common stock offering at $1.48 per share. The clinical-stage biopharmaceutical company disclosed plans to raise approximately $4.5 million through a combination of registered direct offerings and a concurrent private placement, demonstrating investor confidence in its obesity and diabetes therapeutics pipeline.

Strategic Equity Offering Details

The company plans to distribute 1.69 million shares of common stock through a registered direct offering at $1.48 per share, supplemented by a private placement of 1.35 million shares at the same valuation. Notably, Gregg Williams, Chairman of the Board, is purchasing shares in the private placement component, signaling management commitment to the capital raise. ThinkEquity is serving as the sole placement agent for the registered direct offering, with both transactions expected to close around late January 2026. This dual-track approach allows Vivani to access both retail and institutional investors while maintaining pricing consistency for all common stock participants.

Expanding Obesity and Diabetes Pipeline

Vivani’s development portfolio spans multiple therapeutic areas and clinical stages. The company is advancing NPM-139 semaglutide for obesity and weight management, alongside NPM-133 semaglutide targeting type 2 diabetes in the preclinical phase. Additionally, OKV-119 exenatide addresses veterinary obesity in canine and feline populations. The clinical-stage candidate NPM-115 exenatide is positioned for human obesity and weight management indications. Management has indicated plans to initiate clinical development of NPM-139 during 2026, marking a significant milestone in advancing its obesity treatment platform.

Capital Deployment and Stock Performance

Vivani intends to deploy the net proceeds from this common stock offering to fund ongoing research and clinical development of its product candidates, supplemented by working capital and general corporate purposes. Over the preceding year, VANI shares have fluctuated between $0.90 and $1.92, reflecting volatility typical of clinical-stage biopharmaceutical companies. The pricing of this common stock offering at $1.48 positions the shares in the mid-range of recent trading activity, providing the company with meaningful capital while maintaining reasonable valuation discipline.