Vivani plans Cortigent spin-off, reports $18.4M cash; LIBERATE-1 trial fully enrolled with first implant

Vivani Medical, Inc.

Spin-off of Cortigent into independent public company planned by mid-2025; expects tax-free distribution to Vivani shareholders.
Cortigent's Orion artificial vision device completed 6-year study; Argus II previously FDA-authorized for blindness.
LIBERATE-1 trial of GLP-1 implant NPM-115: first implant administered, all 24 subjects enrolled in 4 weeks; top-line data expected mid-2025.
Preliminary cash and cash equivalents (excluding restricted) as of Dec 31, 2024: $18.4M (unaudited).
ThinkEquity LLC acting as financial advisor to Cortigent for spin-off.

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