From Nasdaq: 2025-06-02 08:38:00

Vivani Medical, Inc. filed a Form 10 with the SEC to spin off its neuromodulation subsidiary, Cortigent, Inc. Cortigent is developing the Orion Visual Cortical Prosthesis System for the blind and a Stroke Recovery System for post-stroke paralysis.

Shares of VANI rose 5% after the announcement, closing at $1.26. The spin-off will allow both companies to focus on their core strategies and maximize shareholder value. VANI currently has a market cap of $49.59 billion and an earnings yield of 8.1%.

Cortigent plans to list on the Nasdaq after the spin-off, focusing on brain implant devices. Vivani will focus on developing drug implants using NanoPortal technology. This strategic move is expected to enhance operational efficiency and create long-term value for both companies.

CVS Health, Integer Holdings, and AngioDynamics are top-ranked stocks in the medical space with strong quarterly results. CVS Health beat earnings estimates by 31.6%, Integer Holdings beat estimates by 3.2%, and AngioDynamics reported a positive EPS against estimates.

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Read more at Nasdaq: Vivani Stock Gains After Announcing Spin-Off Plans for Cortigent Unit