By Roshan Fernandez
Movano Health's board of directors has initiated a process to explore strategic alternatives, including a merger or sale of the wearable medical device solutions company.
Movano also said on Friday that due to resource constraints, the company does not plan to timely file its quarterly report for the period ended March 31.
The Pleasanton, Calif.-based company said it has engaged Aquilo Partners as its financial adviser and K&L Gates LLP as its legal counsel.
The review is not an assurance of strategic changes or transactions, the company said.
Movano share have lost 80% of their value over the last three months.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 16, 2025 16:57 ET (20:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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