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Tag: ReShape Lifesciences

  • Why did ReShape Lifesciences Inc. (RSLS) stock flip in the after-hours on Tuesday?

    ReShape Lifesciences Inc. (RSLS) shares gained 3.31% in after-hours on Tuesday, July 13, 2021, and closed the day at $4.37 per share. Earlier in the morning session, RSLS’s stock lost 7.84% to close Tuesday’s session at $4.23. RSLS shares have risen 102.59% over the last 12 months, and they have moved up 1.20% in the past week. Over the past three months, the stock has lost 45.77%, while over the past six months, it has shed 6.62%. Further, the company has a current market of $31.30 million and its outstanding shares stood at 3.15 million.

    Online Consumer Marketplace launched

    On July 13, 2021, ReShape Lifesciences Inc launched the ReShape Marketplace as an extension of reshape care, the company’s reimbursed telehealth service for weight loss across any physician-prescribed therapy. ReShape Marketplace provides consumers with a collection of creative, competitively priced, yet practical wellness products in the areas of nutrition, exercise, sleep, and stress.

    Lap-Band Manufacturing moved to the United States

    On July 7, 2021, ReShape Lifesciences Inc completed their Lap-Band manufacturing transition from Apollo Endosurgery, Inc to a Massachusetts-based manufacturer, to reduce costs, improve margins and directly control the manufacturing process.

    The Lap-Bandis the only FDA-approved, laparoscopic weight-loss device specifically indicated for a BMI of 30 or higher in the U.S.

    ExceptionalLap-Band Growth due to Covid-19

    On July 1, 2021, ReShape Lifesciences Inc announced that Lap-Band® utilization has increased since COVID-19 in response to patients’ increased desire for a reimbursed, effective, and sustainable weight-loss procedure that can be provided in outpatient surgery centres.

    Warrant exercise agreement

    On June 29, 2021, ReShape Lifesciences Inc entered into a warrant exercise agreement with existing accredited investors to exercise certain outstanding warrants to purchase up to an aggregate of 7.9 million shares of the company’s common stock. The exercising holders received new unregistered warrants to purchase up to an aggregate of 5.9 million shares of the company’s common stock. The investors paid a cash purchase price for the new warrants equal to $0.09375 per share of common stock underlying the new warrants. In connection with the exercise, the company also agreed to reduce the exercise price of certain of the existing warrants to $6.00, which is equal to the most recent closing price of the company’s common stock on The Nasdaq Capital Market before the execution of the warrant exercise agreement.

    The company will get gross proceeds of approximately $46.2 million and plans to use the proceeds to expand patient direct marketing activities, advance their internal product pipeline, and general corporate purposes.

    Conclusion

    The launching of ReShape Marketplace was the reason behind its flip on Tuesday and we are hopeful that RSLS will continue its positive momentum in the coming days.

  • Is There A Reason Why The RSLS Stock Is Expanding Premarket?

    Is There A Reason Why The RSLS Stock Is Expanding Premarket?

    At the last check, the share price of the premier physician-led weight loss and metabolic health solutions company, ReShape Lifesciences Inc. (RSLS) was up 17.68% at $5.99 in pre-market trading on Friday. At the end of the last trading session, ReShape’s stock closed at $5.09, gaining 23.84 %. Prices ranged between $3.85 and $5.15 for RSLS stock.

    RSLS stock traded 8.2 million shares, well above its average daily volume of 1.91 million shares over 100 days. Over the last five days, RSLS stock has gained 1.80%, while over the last month they have lost -49.20%. As a result of the company shifting its lead product manufacturing, RSLS stock has surged.

    How has RSLS transitioned manufacturing?

    As the nation’s leading company for weight loss and metabolic health, ReShape offers a complete line of proven products and services for the management of obesity and metabolic disease. In contrast to more invasive procedures such as gastric bypass or sleeve gastrectomy, the FDA-approved Lap-Band Program from RSLS offers its patients a minimally invasive, long-term treatment of obesity. Research (outside the U.S.) is being conducted with the ReShape Vest System, which mimics the gastric volume reduction effect of conventional weight-loss surgery by laparoscopically implanting a vest around the stomach.

    With it, obese or morbidly obese patients can lose weight rapidly without altering their anatomy permanently. Reshapecare is RSLS’s weight-management program that helps patients lose weight quickly and maintain their weight loss over time. RSLS recently launched its online marketplace ReShape Marketplace to bring consumers quality wellness products targeted at achieving better health.

    A Massachusetts manufacturer will now produce ReShape’s Lap-Bands after the company completed their transition from Apollo Endosurgery, Inc.

    • In addition, RSLS expects to benefit from this change by reducing costs, bettering margins, and controlling the manufacturing process directly.
    • A laparoscopic weight-loss device approved by the FDA specifically for people with BMIs of 30 or higher, the Lap-Band is now manufactured by RSLS.
    • Since 1993, over one million patients have undergone this procedure and most insurance companies reimburse eligible patients for it.
    • With 20 years of clinical evidence demonstrating lower complication and mortality rates than other surgical procedures, RSLS’ Lap-Band is proven to be the safest bariatric procedure available.

    What will RSLS gain from the current decision?

    ReShape (RSLS) will be in a better position to reduce cost and increase efficiency by bringing Lap-Band production under its direct operational control. RSLS has risen to meet the weight loss needs of a growing population and has also added manufacturing and logistics jobs to the United States since emerging from the recent pandemic.

  • ReShape Lifesciences Inc. (RSLS) Stock Undergoes Minor Volatility Following Closing of Merger with Obalon

    ReShape Lifesciences Inc. (RSLS) Stock Undergoes Minor Volatility Following Closing of Merger with Obalon

    ReShape Lifesciences Inc. (RSLS) stock prices were down by 7.64% as of the market closing on June 18th, 2021, bringing the price per share down to USD$5.44 at the end of the trading day. Subsequent pre-market fluctuations have seen the stick climb by 2.02%, bringing it up to USD$5.55.

    Merger with Obalon

    June 16th, 2021 saw the company announce the completion of its previously announced merger with Obalon Therapeutics, after which Obalon changed its name to ReShape Lifesciences Inc. The combined company’s stock name began trading under the ticker symbol on the Nasdaq Capital Market beginning on June 16th, 2021.

    Regaining of Nasdaq Listing

    Having regained the Nasdaq listing requirements, the company is situated to take advantage of the new numerous benefits that come with being listed on the Nasdaq. This includes the chance to increase shareholder value and the expanded visibility in the wider investment community. The completion and reaching of this significant milestone are representative of a pivotal moment in the company’s lifecycle.

    Company Priorities

    The completion of the merger signals the strengthening of the company’s ability to allocate resources towards growth priorities. These priorities include global commercial operations, the integration from this transaction, and the company’s internal technologies that are currently in development. The company is poised to capitalize on its expanded opportunities to be an elite and diversified leader in the physical led weight loss space. The company is dedicated to facilitating a better quality of life for its patients through safe, effective, and accessible medical treatment.

    Leadership Team

    After the closing of the merger, the combined company’s Board of Directors is comprised of five current members of the Board of Directors of Reshape. The current executive officers of Reshape will continue on to be executive officers of the combined company. ReShape shareholder went on to own 51% of the combined company’s stock after the merger, while the other 49% was held by Obalon stockholders.

    Scope of RSLS

    The premier weight-loss solutions company as an impressive integrated catalogue of proven products and services that are designed to manage and treat obesity and metabolic disease. The Lap-Band has been approved by the FDA and provides minimally invasive, long-term treatment of obesity. The program is an alternative to surgical stapling procedures that are much more invasive, such as gastric bypass and sleeve gastrectomy.

    Future Outlook for RSLS

    Armed with the expanded resources offered to it by its recent merger, the company is poised to continue its trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.