Allurion Technologies, Inc. - ALUR STOCK NEWS

Allurion Technologies (NYSE: ALUR) has expanded its AI-powered weight loss coach, Coach Iris, to support patients on GLP-1s and other anti-obesity medications. This enhancement provides 24/7 personalized coaching on treatment duration, side effects, and lifestyle modifications. In addition, the company announced its first commercial agreements for its Virtual Care Suite (VCS) in the U.S.

The VCS integrates remote patient monitoring, predictive analytics, telehealth, and care team collaboration, and is designed for healthcare providers offering various weight loss therapies. Medical professionals like Dr. Christopher McGowan and Dr. Alexander Shapsis have adopted VCS, praising its ability to deliver personalized care and improve patient engagement.

According to Blue Cross Blue Shield, a substantial portion of patients discontinue GLP-1s prematurely, underscoring the need for better patient management. An Allurion study found that the VCS improved patient accountability, practice efficiency, and engagement.

Allurion Technologies (NYSE: ALUR) has announced its participation in two major investor conferences: the Jefferies Global Healthcare Conference and the Sidoti Small Cap Virtual Conference in June 2024.

The company aims to discuss its strategic initiatives, latest financial performance, and long-term growth plans at these events.

Allurion Technologies (NYSE: ALUR) announced three presentations at the European Congress on Obesity (ECO) held from May 12-15, 2024, in Venice, Italy. The presentations highlighted data from a study involving 712 patients across six obesity centers, demonstrating an average total body weight loss (TBWL) of 14.1% in four months, with 70% of the weight loss from fat mass and only 30% from lean body mass. The Allurion Program, which includes the Allurion Balloon and Virtual Care Suite, aims to preserve lean body mass during weight loss. Additionally, previous studies showed that more intensive programs led to 100% fat mass-derived weight loss without muscle mass loss. The presentations also covered behavior change coaching and the positive impact of GLP-1s on the program.

Allurion Technologies (NYSE: ALUR) announced its Q1 2024 financial results with a revenue of $9.4 million, a 14% increase from Q4 2023 but a decrease from $14.1 million in Q1 2023. Procedural volume rose 12% year-over-year and 22% sequentially. Cash burn decreased to $8.4 million from $22 million in Q4 2023. Notable developments include treating the first NHS patient with the Allurion Balloon, launching the VCS digital platform in the U.S., and securing $48 million in financing. Operating expenses were reduced significantly, but a year-over-year revenue decline and lower gross profit margins were noted.

Allurion Technologies, Inc. (NYSE: ALUR) announced three scientific presentations at IFSO-European Chapter 2024, highlighting 80% sustained weight loss at three years with the Allurion Program and successful outcomes of an AI-powered conversational agent for obesity treatment. The data showcased positive long-term weight maintenance results and patients' healthier eating habits post-program. Additionally, the innovative AI-powered weight loss coach, Coach Iris, received positive feedback for its personalized, trustworthy, and empathetic approach.

Allurion Technologies, Inc. announced preliminary first quarter 2024 results, with quarter-over-quarter revenue growth, procedural volume growth, and a significant decrease in cash burn. The company expects revenue between $9.2 million to $9.3 million, 12%-13% higher than the fourth quarter of 2023, procedural volume growth of 22%, and reduced cash burn of $8 million to $9 million. Allurion remains optimistic about future growth and business opportunities.

Allurion Technologies, Inc. (NYSE: ALUR) closes a $48 million convertible senior secured note financing with RTW Investments, reducing interest expenses, extending cash runway, and strengthening the partnership. The transaction simplifies the capital structure, lowers the interest rate to 6%, and extends the maturity of the debt. The funding will be used to repay existing term loans, providing operational flexibility and enhancing future prospects.

Allurion Technologies, Inc. (ALUR) announces the commercial availability of its Virtual Care Suite (VCS) in the United States, a comprehensive weight-loss management suite powered by AI. The VCS aims to enhance patient outcomes and satisfaction through remote patient monitoring, telehealth, and care team collaboration. The addition of Coach Iris, a 24/7 AI-powered weight loss coach, further personalizes the behavior change program. The VCS has shown to improve patient results, engagement, and satisfaction, with clinics experiencing an additional 11% weight loss and a 17% increase in Net Promoter Score (NPS). Allurion will showcase the VCS at the Obesity Medicine Conference in Denver on April 25, introducing a new version of Allurion Insights, the web-based dashboard for providers.

Allurion Technologies, Inc. (ALUR) reported Q4 revenue of $8.2 million and full-year 2023 revenue of $53.5 million, reiterating 2024 guidance. The company completed enrollment in the AUDACITY pivotal trial ahead of schedule, conducted research on healthcare professionals and patients, and treated the first UK NHS-reimbursed patients with the Allurion Balloon. Despite macroeconomic challenges, Allurion saw a 30% increase in procedural volume. The company expects 2024 revenue of $60-65 million, gross margins of 77-79%, and a cash burn of $30 million.