Vivani Medical Withdraws Record Date for Spin Off of Cortigent Subsidiary
By Robb M. Stewart
The federal government's shutdown has prompted Vivani Medical to postpone the planned spinoff of its subsidiary which develops brain implant devices.
The clinical-stage biopharmaceutical company said Friday it will temporarily withdraw the proposed record date for Cortigent's spin off due to delays arising from the shut down.
It said it expects to establish a new data for the move as soon as possible.
Vivani in June said it anticipated a Nasdaq listing for Cortigent in the third or fourth quarter of this year.
The move was aimed at better positioning the subsidiary to accelerate development of its visual cortical prosthesis system and stroke recovery system, while allowing Vivani to focus on its continued development of miniature, long-acting implants for chronic weight management and type 2 diabetes.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
October 03, 2025 09:17 ET (13:17 GMT)
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