Allurion Technologies, Inc. - ALUR STOCK NEWS

Allurion Technologies (NYSE: ALUR) has published a study showing impressive weight loss results with its Allurion Program. 486 patients achieved an average weight reduction of 10.5% at four months, improving to 13.7% at one year. The program combines the Allurion Balloon with virtual guidance and support, including monthly assessments using the Allurion App, Connected Scale, and Health Tracker.

Patients had virtual access to registered dieticians, with weekly check-ups in the first month, biweekly for three months, and monthly for the remaining eight months. This approach contrasts with GLP-1 drugs, where patients typically regain about two-thirds of lost weight after discontinuing treatment and lifestyle intervention.

Allurion Technologies (NYSE: ALUR) has appointed Adrian Wild as Senior Vice President, International Commercial, effective August 13, 2024. Mr. Wild brings over 20 years of experience in building profitable commercial organizations at leading healthcare brands. He will lead Allurion's international commercial sales and operations functions as the company aims to advance toward profitability in the expanding obesity market.

Mr. Wild's extensive experience includes leadership roles at Align Technology, where he contributed to establishing a new standard of care and oversaw expansion in Europe. Most recently, he served as SVP and Head of Western Europe at Straumann Group, driving significant growth through strategic marketing and operational initiatives. Prior to that, he was VP, Commercial Excellence Global at Mölnlycke Health Care, improving commercial effectiveness across more than 100 countries.

Allurion Technologies (NYSE: ALUR) has received a notice from the New York Stock Exchange (NYSE) regarding non-compliance with continued listing standards. The company's average closing stock price fell below $1.00 over a 30-day trading period ending August 8, 2024. Allurion has a six-month cure period to regain compliance by achieving a closing share price and 30-day average closing price of at least $1.00.

The company intends to remain listed on the NYSE and is considering options to regain compliance, including a potential reverse stock split subject to stockholder approval. The notice does not result in immediate delisting, and Allurion's stock will continue to trade on the NYSE during the cure period, provided it meets other listing standards. This development is not expected to impact Allurion's ongoing business operations or SEC reporting requirements.

Allurion Technologies (NYSE: ALUR) reported Q2 2024 financial results, showing strong sequential revenue growth and record procedure volume. Key highlights include:

- Q2 revenue of $11.8 million, up 25% from Q1 2024
- Loss from operations reduced by 30% year-over-year
- Procedure volume grew 12% year-over-year, with over 10,000 balloon placements
- Updated 2024 revenue guidance to $40-$45 million
- Completed public offering raising $22 million in gross proceeds

The company faced a setback in France with the suspension of Allurion Balloon sales but is working on a remediation plan. Allurion aims to achieve profitability by the end of 2025 and continues to innovate, including expanding AI-powered weight loss coach capabilities.

Allurion Technologies, Inc. (NYSE: ALUR), a company focused on ending obesity, has announced that it will release its second quarter 2024 financial results on Tuesday, August 13, 2024. The company will host a conference call and live audio webcast on the same day at 8:30 AM ET to discuss the results and provide a business update.

Investors can access the conference call by dialing (888) 330-3417 (domestic) or +1 646 960 0804 (international) using Conference ID 1905455. The live audio webcast will be available on the Events section of Allurion's Investor Relations website. A replay of the call will be accessible by phone using Access Code 1905455, and the archived webcast will be available on the company's website.

Allurion Technologies has announced the pricing of a $20 million public offering and concurrent private placement. The company will issue 14,406,508 shares and an equal number of warrants at $1.20 per share, generating $17.3 million in gross proceeds. An additional $2.7 million will come from the sale of Series A convertible preferred stock and private placement warrants to RTW Investments. The total expected gross proceeds from these offerings are $20 million. The funds will support clinical trials, commercial sales, R&D, and general corporate purposes. The offerings are anticipated to close by July 1, 2024, pending customary conditions.

Allurion Technologies (NYSE: ALUR) has launched a public offering of up to $20 million in common stock and warrants. The offering is managed by Jefferies and TD Cowen, with Roth Capital Partners co-managing. Allurion plans to use the proceeds for clinical trials, commercial sales, R&D, and general corporate purposes. Additionally, RTW Investments has shown interest in purchasing up to $3 million of the securities, potentially through a concurrent private placement of Series A convertible preferred stock. The offering is contingent on SEC registration approval.

Allurion Technologies (NYSE: ALUR) published new data showing that patients on the Allurion Program gained an average of 5.6% lean mass while losing 14% body weight over four months. The study included 571 patients tracked using the Allurion App, Connected Scale, and Health Tracker, supported by the AI-driven Allurion Virtual Care Suite. On average, patients reduced their weight from 97.9kg to 84.0kg and increased lean mass from 49.8kg to 52.6kg. Higher activity patients achieved a greater weight loss (15.6kg) and more significant lean mass gains (2.8kg) compared to lower activity patients. The body fat percentage also decreased from 32.7% to 27.9%. This study contrasts with GLP-1 therapy results, which typically show lean mass loss ranging from 3-11%, highlighting the potential of real-time body composition monitoring and personalized recommendations.

Allurion Technologies (NYSE: ALUR) presented new data at the American Society for Metabolic and Bariatric Surgery Annual Meeting, showing a 22.1% weight loss at one year with its Allurion Balloon, surpassing the 15.4-16.2% weight loss achieved by 12-month endoscopic balloons. The study involved 121 patients across 11 obesity centers. Additional presentations highlighted the Allurion Balloon's low intolerance rate (1-3%) compared to other balloons (14.4%), and a 10-fold decrease in serious adverse events. The AI-powered Coach Iris received high satisfaction scores, with 84% for Fidelity, 79% for Accuracy, 89% for Safety, and 95% for Tone. Other topics included digital tracking of hunger and fullness.