09:08 AM EDT, 06/13/2024 (MT Newswires) -- Vivani Medical ( VANI ) said Thursday that the Investigational New Drug application for its potential treatment of type 2 diabetes has received the US Food and Drug Administration's clearance.

The FDA also lifted the clinical hold on NPM-119 to permit the start of a phase 1 clinical study to evaluate the safety, tolerability and pharmacokinetics of the miniature GLP-1 drug implant, the company said.

The company will likely launch the clinical trial in H2, Vivani Medical ( VANI ) Chief Executive Adam Mendelsohn said.

Vivani Medical's ( VANI ) shares were up over 12% in recent Thursday premarket activity.

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