STOCKS TELEGRAPH

Tag: Obalon Therapeutics

  • Why Obalon Therapeutics, Inc. (OBLN) stock was high in Thursday’s aftermarket?

    Why Obalon Therapeutics, Inc. (OBLN) stock was high in Thursday’s aftermarket?

    Shares of Obalon Therapeutics, Inc. (OBLN) stock were high in the aftermarket session on Thursday after facing the downtrend of 9.06% to drop at $2.31 a share at the previous closing. OBLN stock price saw a surge of 8.23% to reach $2.5  a share in the late hours of Thursday 15, 2021. Let’s see the reason behind this bullish sentiment.

    What’s happening?

    There is no recent news by Obalon Therapeuticsthat might support the bullish sentiment. We find no signs of analysts upgrades or upswing targeted per share price of OBLN stock to explain this rally. Sometimes social media hype makes the stock high, but this fact is not supporting the OBLN right now. So, what you need to know now? Here are some recent events related to OBLN .

    WeissLaw Reminder of Ongoing Investigation Against OBLN:

    WeissLaw reminded the shareholders of OBLN stock on April 09, 2021, about its ongoing investigations against Obalon Therapeutics’ board of directors. The investigation is related to the possible breach of fiduciary and violation of laws in connection with the proposed merger of OBLN with ReShape Lifesciences Inc. According to the merger agreement, Obalon Therapeutics will be renamed ReShape Lifesciences Inc after the acquiring of the former by the latter via an all-stock transaction.

    Financial View of OBLN stock:

    Back to the previous month, on March 12, 2021, OBLN stock did announce its fourth-quarter and full-year financial results of 2020 a summary of which is given below.

    For the fourth quarter, OBLN stock posted revenue of $0.1 million as compared to $0.8 in the same period of the prior year. The decrease was mainly due to the suspension of operations in the second quarter.Net loss decreased to $1.3 million in the fourth quarter while it was $4.9 million in the same quarter of the prior year.R&D expenses were down from $1.5 million in the Q4 of 2019 to $0.2 million in Q4 of 2020.

    The full-year 2020 revenue of the OBLN stock reduced to $1.6 million as compared to $3.3 million in 2019 due to suspension of operations.Net loss for the fiscal year 2020 was decreased to $12.3 million as compared to $23.7 million net loss of 2019.R&D expenses for the full year were reduced from $6.9 million of 2019 to $2.5 million in 2020.

    At the end of 2020, OBLN stock had cash and cash equivalents of $3.9 million and  $0.4 million debt attributed to its Payroll Protection Program loan.

    Conclusion:

    OBLN stock went up in the late hours of Thursday despite the absence of any reason. Overall growth declined according to the recently announced earnings report due to a halt in OBLN’s operations. In short, investors need to do a lot of homework before adding this stock to their portfolio.

  • Obalon Therapeutics Inc. (OBLN) stock soared in the recent premarket trading session. here’s why

    Obalon Therapeutics Inc. (OBLN) shares rose by 11.42% to trade at $3.22 in premarket at the time of writing. OBLN’s stock lost -2.36% on Friday’s session as it closed at $2.89. The volume traded is 0.54 million shares, which was lower than the average daily volume of 1.08 million shares within the past 50 days. OBLN shares have risen by 319.27% over the last 12 months, and they have moved down by -2.69% in the past week.

    What is recently happening in the company?

    On 20th March 2021, reminded OBLN shareholders that it has an ongoing investigation into Obalon Therapeutics Inc. and thus encourage them to discuss this investigation with the firm to know their rights. Here’s why the investigation is taking place.

    On 20th January 2021, Obalon Therapeutics Inc. announced an agreement to merge with another weight loss company by the name of ReShapeLifesciences Inc. The news caused OBLN stock to soar by six-hold in volume trading and rose by 503.4% in price.

    This news had a positive effect on the stock and operational performance however the news also came with its fair share of investigations asking about the nature and details of this agreement. On 21st January 2021, a law-firm called WeissLaw LLP announced that it was starting an investigation in the possible breaches of fiduciary duty and other violations of law by Board of Directors in Obalon Therapeutics Inc.

    The possible breaches include if whether the company acted in the best interest of Obalon’s public shareholders when deciding for this proposed merger and if so does the merger agreement sufficiently compensates the shareholders of Obalon.

    ReShapeLifesciences Inc. will acquire Obalon. The all-stock transaction is pertinent to OBLN stock to change its name to ReShapeLifeSciences, Inc. and the ticker will be changed “RSLS” traded under NASDAQ. The merger acquisition after completion will let ReShape stakeholders to own 51% approximately while Obalon stockholders will own 49% of the combined stock.

    Obalon’s weight-loss medical device- Oballon Balloon System

    The core medical product of the company is a device by the name of Obalon Balloon System. This system is designed specifically to provide treatment in the form of weight loss for patients having obesity problem. The functioning of the Obalon Balloon System is such that it is administered through a capsule that can be orally taken. The capsule contains an inflatable balloon that is attached to a microcatheter. Obalon Therapeutics Inc. has its own microcatheter by the name of Obalon Touch Inflation Dispenser. The inflation is done semi-automatically with a hand-held inflation device that inflates the balloon as it is placed. The microcatheter traces and displays the location on the balloon to guide its inflation which is done through a canister of mixed gases.

    This process is a reversible and repeatable weight loss solution which does not require any invasive surgery or alteration in the anatomy of the patient. It is usually recommended by physicians.

    Obalon’s background

    Obalon Therapeutics, Inc. is a technology company which is specifically based on a vertically integrated medical technology structure. It was founded in 2008 and the HQ is established in Carlsbad, California. The Company focuses on the development and commercialization of medical devices that are differentiated for treating people with weight problems and obesity. The company had three retail treatment centers in California, as of 27th February 2020.

  • 41 Stocks Making Sharp Moves in Pre Market Session

    41 Stocks Making Sharp Moves in Pre Market Session

    NanoVibronix Inc. (NASDAQ: NAOV) shares are trading down -4.55% at $1.05 at the time of writing after announcing $6.0 million private placement. Company’s 52-week ranged between $0.54 to $3.50.
    Merrimack Pharmaceuticals Inc. (MACK) stock plunged -6.93% to $6.04 in the pre-market trading. The most recent rating by JP Morgan, on October 07, 2016, is a Neutral.
    Curis Inc. (CRIS) is down more than -5.85% at $1.77 in pre-market hours Thursday December 03, 2020 after declaring that it will host Virtual Event to discuss CA-4948 clinical data. The stock had jumped over 22.88% to $1.88 in the last trading session.
    Before the trading started on December 03, 2020, Obalon Therapeutics Inc. (OBLN) is down -8.62% to reach $1.06. It has been trading in a 52-week range of $0.62 to $2.14.
    Artelo Biosciences Inc. (ARTL) grew over 7.53% at $0.7065 in pre-market trading today following announcement its appointment of drug discovery and development veteran Gregory R. Reyes, M.D., Ph.D. to the Company’s Board of Directors.
    Acorda Therapeutics Inc. (ACOR), a Biotechnology company, dropped about -3.54% at $0.79 in pre-market trading Thursday.
    Ampio Pharmaceuticals Inc. (AMPE) is up more than 6.8% at $1.1 in pre-market hours Thursday December 03, 2020 after declaring its phase I study for Inhaled Ampion advances to completing enrollment of COVID-19 patients with respiratory distress. The stock had jumped over 12.65% to $1.03 in the last trading session.
    Nxt-ID Inc. (NASDAQ: NXTD) shares are trading down -6.11% at $0.446 at the time of writing. Company’s 52-week ranged between $0.21 to $0.89.
    OrganiGram Holdings Inc. (OGI) stock moved down -2.86 percent to $1.36 in the pre-market trading. The company recently released fourth quarter 2020 results.
    InVivo Therapeutics Holdings Corp. (NVIV) gained over 14.27% at $0.7999 in pre-market trading Thursday December 03, 2020.
    HEXO Corp. (HEXO) lost over -5.98% at $1.1 in pre-market trading Thursday December 03, 2020 as the firm recently revealed that it has repositioned the UP Cannabis brand with a differentiator of 20% THC or higher in all dried flower products, every time.
    Before the trading started on December 03, 2020, Aurora Cannabis Inc. (ACB) is down -2.92% to reach $10.63. It has been trading in a 52-week range of $3.71 to $32.88.
    Before the trading started on December 03, 2020, Golar LNG Limited (GLNG) is down -6.67% to reach $8.75 after declaring that it intends to offer, issue and sell to the public 11,000,000 common shares, par value $1.00 per share, through an underwritten public offering. It has been trading in a 52-week range of $4.54 to $15.24.
    Aeterna Zentaris Inc. (AEZS) stock soared 3.1% to $0.455 in the pre-market trading. The most recent rating by Maxim Group, on July 19, 2017, is a Buy.
    Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) shares are trading up 9.23% at $4.26 at the time of writing after reporting that it has screened the first patients in a global trial of its oral insulin capsule ORMD-0801 for the treatment of Nonalcoholic steatohepatitis (NASH). Company’s 52-week ranged between $2.40 to $6.05. Analysts have a consensus price target of $5.50.
    Ashford Hospitality Trust Inc. (AHT), a REIT – Hotel & Motel company, rose about 7.36% at $2.48 in pre-market trading Thursday.
    Ideanomics Inc. (IDEX) grew over 0.86% at $2.35 in pre-market trading today. The technology firm lately declared that its subsidiary, Tree Technologies Sd. Bhd., which owns the Treeletrik brand, has hired Richard Teoh as its Chief Financial Officer.
    AIkido Pharma Inc. (AIKI) is down more than -2.2% at $0.59 in pre-market hours Thursday December 03, 2020. The stock had jumped over 8.94% to $0.60 in the last trading session.
    NIO Limited (NIO), a Auto Manufacturers company, dropped about -2.21% at $46.92 in pre-market trading Thursday after providing its November 2020 delivery results.
    Genius Brands International Inc. (GNUS) is up more than 2.14% at $1.43 in pre-market hours Thursday December 03, 2020. The stock had jumped over 5.26% to $1.40 in the last trading session.
    Micro Focus International plc (MFGP) gained over 2.81% at $5.12 in pre-market trading Thursday December 03, 2020 following the publication its findings of ‘Endless Modernization’ research with Standish Group.
    Trine Acquisition Corp. (NYSE: TRNE) shares are trading up 6.44% at $14.22 at the time of writing. Company’s 52-week ranged between $9.40 to $13.94.
    Before the trading started on December 03, 2020, Borr Drilling Limited (BORR) is down -6.29% to reach $0.7625. The firm recently declared unaudited results for the three and nine months ended September 30, 2020. It has been trading in a 52-week range of $0.24 to $9.12.
    Blink Charging Co. (BLNK), a Specialty Retail company, dropped about -2.83% at $22.35 in pre-market trading Thursday.
    Boxlight Corporation (BOXL) lost over -2.53% at $1.54 in pre-market trading Thursday December 03, 2020. An education technology firm recently reported that Shaun Marklew has been appointed as Chief Technology Officer and Patrick Foley will be appointed as Chief Financial Officer on January 16, 2021.
    Before the trading started on December 03, 2020, Pyxis Tankers Inc. (PXS) is up 10.87% to reach $1.02. It has been trading in a 52-week range of $0.62 to $1.37.
    Orbital Energy Group Inc. (OEG) is down more than -3.1% at $1.25 in pre-market hours Thursday December 03, 2020 following announcement its wholly-owned transmission & distribution division, Orbital Power Services signed a Master Services Agreement with a midwestern investor-owned utility.
    Telefonica S.A. (TEF) is down more than -2.64% at $4.43 in pre-market hours Thursday December 03, 2020. The stock had jumped over 1.56% to $4.55 in the last trading session.
    Longview Acquisition Corp. (NYSE: LGVW) shares are trading up 7.86% at $15.79 at the time of writing. Company’s 52-week ranged between $9.34 to $17.99.
    UP Fintech Holding Limited (NASDAQ: TIGR) shares are trading up 3.51% at $5.61 at the time of writing. Company’s 52-week ranged between $2.03 to $7.60.
    Veru Inc. (VERU) gained over 10.39% at $3.4 in pre-market trading Thursday December 03, 2020.
    Tonix Pharmaceuticals Holding Corp. (TNXP) grew over 2.46% at $0.6414 in pre-market trading today.
    Before the trading started on December 03, 2020, Orange S.A. (ORAN) is down -5.39% to reach $12.28 after reporting that it plans to launch a conditional voluntary public takeover bid on all the shares of Orange Belgium that it does not yet own. It has been trading in a 52-week range of $9.93 to $16.08.
    Switchback Energy Acquisition Corporation (SBE) gained over 2.27% at $30.17 in pre-market trading Thursday December 03, 2020.
    Nano Dimension Ltd. (NNDM), a Computer Hardware company, rose about 4.69% at $6.7 in pre-market trading Thursday after closing the previously reported registered direct offering of 11,960,160 of the Company’s American Depositary Shares at a price of $5.00 per ADS.
    Harmony Gold Mining Company Limited (HMY) is down more than -2.42% at $4.44 in pre-market hours Thursday December 03, 2020. The stock had dropped over 0.00% to $4.55 in the last trading session.
    Waddell & Reed Financial Inc. (WDR) stock moved up 46.33 percent to $24.89 in the pre-market trading after declaring a merger agreement with Macquarie Asset Management, under which Macquarie would acquire Waddell & Reed Financial, Inc. for $1.7 Billion.
    Limelight Networks Inc. (LLNW) stock plunged -2.78% to $4.2 in the pre-market trading. The most recent rating by Goldman, on November 30, 2020, is a Neutral.
    Before the trading started on December 03, 2020, XP Inc. (XP) is down -1.88% to reach $39.65 after announcing pricing of public follow-on offering. It has been trading in a 52-week range of $15.50 to $52.94.
    CBAK Energy Technology Inc. (NASDAQ: CBAT) shares are trading up 2.75% at $7.1 at the time of writing. Company’s 52-week ranged between $0.36 to $11.40.
    Splunk Inc. (SPLK) tumbled over -20.5% at $163.69 in pre-market trading today as the firm released fiscal third quarter 2021 financial results.

  • Obalon Therapeutics Inc (OBLN) stock plunged in the pre-market session on December 3, 2020

    Obalon Therapeutics Inc (OBLN) stock plunged in the pre-market session on December 3, 2020

    No news or filings is issued, so it will be fascinating to see how on Thursday, December 3, 2020, the week begins for the stock of Obalon Therapeutics Inc (OBLN), despite the pre-market plunge.

    On November 6, 2020, the company posted financial reports for the third quarter ended 30 September 2020 have been released.

    Revenue was $44,000 for the third quarter of 2020, compared to $0.3 million for the third quarter of 2019, with the decline largely attributed to the termination of activities in the second quarter of 2020. The net loss was $1.6 million for the Q3 of 2020, compared to $3.7 million for the Q3 of 2019.  For the reported period, the net loss per share was $ 0.20, compared with $ 0.61 year over year.

    The cost of sales was $41,000, down from $0.4 million for the Q3 of 2019. Compared with a cumulative loss of $0.1 million for the Q3 of 2019, gross profit for the Q3 of 2020 was $3,000.

    Research and development expenses totaled $0.3 million, down from $1.2 million for the third quarter of 2019. For the third quarter of 2020, marketing, general and administrative costs reduced to $1.3 million, relative to $2.5 million for the third quarter of 2019.