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Vivani Medical Announces Intent to Spin Off Cortigent Neurostimulation Business

1. Vivani Medical plans to spin off Cortigent into an independent company. 2. This strategy aims to enhance focus on their respective developments.

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Why Bullish?

The spin-off can allow VANI to streamline operations and enhance its market focus. Similar strategies in the biotech sector have historically led to improved stock performance, as seen with companies like Abbott Laboratories and its spin-offs.

How important is it?

The decision to spin off Cortigent directly impacts VANI's operational focus and potential future growth. Investors typically respond positively to such restructurings, contributing to stock price stability and upward shifts in valuation.

Why Long Term?

While immediate effects may be minimal, establishing focused companies can lead to substantial long-term growth. Historical examples, such as the successful spin-off of Philips Lighting from Philips, showcase long-term benefits from increased specialization.

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ABTPHGILMN
ALAMEDA, Calif.--(BUSINESS WIRE)--Vivani Medical, Inc. (NASDAQ: VANI) (“Vivani” or the “Company”), a clinical-stage biopharmaceutical company developing miniature, ultra long-acting drug implants, today announced that it intends to spin off Cortigent, Inc., a division that develops brain implant devices to help people recover critical body functions, as an independent publicly-traded company. The strategic goal of this transaction is to create two focused companies dedicated to driving current.

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