Welcome to our dedicated page for OBLN news (Ticker: OBLN), a resource for investors and traders seeking the latest updates and insights on OBLN stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect OBLN's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of OBLN's position in the market.
ReShape Lifesciences Inc. (OTCQB:RSLS) and Obalon Therapeutics, Inc. (NASDAQ:OBLN) are nearing the completion of their merger, pending approval from Nasdaq for their listing application. This merger follows stockholder approvals from both companies, with ReShape stockholders voting on May 13, 2021, and Obalon stockholders on May 25, 2021. Once finalized, the combined company will trade under the name ReShape Lifesciences Inc. with the ticker RSLS on Nasdaq. This development signifies a strategic move in the obesity treatment market.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) is reminding stockholders to vote on proposals crucial for its merger with ReShape Lifesciences Inc. at the reconvened special meeting on May 25, 2021. Stockholder approval is essential, as failure to secure it could adversely impact Obalon's financial standing and share price. Post-merger, Obalon stockholders will own around 49% of the combined company, promoting potential growth. All materials for the special meeting are available online, and stockholders can vote via phone or email.
Obalon Therapeutics (NASDAQ:OBLN) is urging stockholders to vote on proposals related to its merger with ReShape Lifesciences ahead of the reconvened special meeting on May 25, 2021. Approval of the merger is critical, as failure to secure it could adversely affect Obalon and its stock price. Post-merger, Obalon shareholders will own around 49% of the combined entity, allowing them to benefit from its future growth. Eligible stockholders are reminded to vote by phone or online.
Obalon Therapeutics has announced the adjournment of its special shareholders meeting to May 25, 2021, due to a lack of quorum on the originally scheduled date of May 13, 2021. The board urges all stockholders to participate and vote on key proposals related to the merger with ReShape Lifesciences. Eligible stockholders as of April 7, 2021, can vote regardless of current share ownership. All pertinent materials regarding the special meeting are accessible online. The final joint proxy statement regarding the merger filed with the SEC contains significant information for investors.
Obalon Therapeutics (NASDAQ:OBLN) reported its Q1 2021 financial results, revealing a revenue drop to $0 from $0.8 million in Q1 2020, attributed to operational suspension. The net loss narrowed to $4.2 million, with a loss per share of $0.44, improved from $0.68 in Q1 2020. Research and Development expenses decreased significantly to $0.1 million from $1.3 million the previous year. Selling, General and Administrative expenses rose to $4.1 million, up from $3.9 million. As of March 31, 2021, the company held $9.0 million in cash and $0.4 million in debt.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) is encouraging stockholders to vote FOR proposals related to its merger with ReShape Lifesciences Inc., which specializes in weight-loss solutions. The vote is scheduled for May 13, 2021, and a reverse stock split is necessary for the merger to proceed. Eligible stockholders, as of April 7, 2021, can participate in the virtual meeting. The company has emphasized the importance of every vote and provided instructions on how to vote.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) reported its fourth quarter and full year 2020 financial results, revealing a Q4 revenue of $0.1 million, down from $0.8 million in Q4 2019. The net loss for Q4 2020 was $1.3 million, a reduction from $4.9 million a year earlier. For the full year, revenue was $1.6 million compared to $3.3 million in 2019. The net loss for 2020 totaled $12.3 million, down from $23.7 million in 2019. Additionally, the company signed a definitive merger agreement with ReShape Lifesciences in January 2021. Cash and equivalents stood at $3.9 million as of December 31, 2020.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) reported its third quarter financial results for 2020, revealing a significant revenue decline to $44,000 from $0.3 million in Q3 2019, attributed to operational suspensions. The net loss improved to $1.6 million, or $0.20 per share, compared to a loss of $3.7 million, or $0.61 per share, in the same quarter last year. Gross profit stood at $3,000 versus a gross deficit of $0.1 million a year prior. The company's cash reserves were $5.5 million, facing capital needs and potential bankruptcy without additional funding.
Obalon Therapeutics (Nasdaq: OBLN) has entered into a consulting agreement with Blue Ox Healthcare Partners to enhance its coverage and reimbursement strategies for its FDA-approved intragastric balloon system. The collaboration aims to evaluate clinical evidence and health economics related to the Obalon Balloon System's effectiveness in aiding weight loss for diabetes and hypertension patients. However, Obalon cautions that achieving reimbursement is uncertain and may require additional capital if initial efforts yield success.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) reported its Q2 2020 financial results with revenues of $0.7 million, up from $0.4 million in Q2 2019, largely due to revenue reserve reversals from suspended retail operations. The net loss decreased to $4.2 million with a loss per share of $0.54, compared to $6.8 million and $2.52 in Q2 2019. Gross profit flipped to $0.3 million from a deficit of $0.3 million. Restructuring led to a $1.3 million impairment charge. Cash reserves stand at $6.8 million. The company aims to secure reimbursement pathways for its balloon system and evaluate strategic options to enhance shareholder value.
