Just saw Vivani Medical did a direct offering at $1.48 per share - pretty interesting timing. They're raising around $4.5 million through selling common stock, and get this, the Board Chairman Gregg Williams bought into the private placement himself. That's usually a good sign when insiders are putting their own money in.

They're working on some obesity and diabetes treatments, with NPM-139 supposedly going into clinical trials this year for weight management. The common stock pricing at $1.48 is right where it closed last week, so no crazy discount or premium there.

The proceeds are going toward R&D and clinical development of their drug candidates. Over the past year VANI has bounced between $0.90 and $1.92, so this offering price sits pretty much in the middle. Curious to see if this capital injection actually moves the needle on their pipeline. What's your take - insider buying a good signal or just maintaining their stake?