ReShape Lifesciences, Inc. - RSLS STOCK NEWS

ReShape Lifesciences (RSLS) receives a Notice of Allowance from the USPTO for a patent application covering an intragastric balloon system, strengthening the company's intellectual property portfolio. The patent will provide protection until at least January 2031, showcasing the company's commitment to innovation and protection of its products.

ReShape Lifesciences (RSLS) announces a 55.4% decrease in operating expenses for 2024 compared to 2023, focusing on commercializing Lap-Band® 2.0 FLEX and seeking synergistic M&A opportunities.

ReShape Lifesciences (RSLS) announces successful surgeries using Lap-Band® 2.0 FLEX, designed to enhance patient experience. Surgeon training underway. The new FLEX technology aims to improve comfort and eliminate the need for in-office band adjustments, potentially increasing demand for Lap-Band® surgery.

ReShape Lifesciences (RSLS) introduces Lap-Band® 2.0 FLEX to bariatric surgical fellows at the University of Texas Health Center, aiming to train the next generation of surgeons on the benefits of the device. The new technology is designed to improve the patient experience by allowing larger pieces of food to pass through the narrowed passage created by the band. The company believes that the Lap-Band® System offers a safe and enduring weight loss solution for patients struggling with managing their weight and is committed to expanding its visibility in the bariatric market.

ReShape Lifesciences Inc. (Nasdaq: RSLS) has engaged Maxim Group LLC as its exclusive financial advisor to explore potential strategic merger and acquisition partnership alternatives. The company has not set a defined timeline for this transaction and cannot guarantee if or when any transaction will occur.

ReShape Lifesciences (RSLS) has received FDA approval for its next generation Lap-Band® 2.0 FLEX, designed to improve the patient experience. The FLEX Technology acts as a relief valve, allowing larger pieces of food to more easily pass through the narrowed passage created by the band. The company is preparing for the U.S. product launch and expects this to be a key growth catalyst for its Lap-Band® franchise.

ReShape Lifesciences, Inc. (RSLS) announces an agreement to exercise outstanding warrants with an investor, resulting in the purchase of 5,382,500 shares of common stock and issuance of new unregistered warrants for 10,765,000 shares. The exercise price of the warrants has been reduced to $0.23, and the new warrants will become exercisable six months following issuance. The company will seek stockholder approval for potential further reduction of the exercise price. The gross proceeds from the exercise of the existing warrants was approximately $1.2 million, with the net proceeds intended for commercial growth, working capital, and general corporate purposes.

ReShape Lifesciences Inc. (Nasdaq: RSLS) reported a 37% reduction in core operating expenses compared to the third quarter of 2022. A cost reduction plan aims to cut operating expenses by over 40% in 2024 compared to 2023. The company also highlighted a recent exclusive licensing agreement, a strengthened patent portfolio, and a successful public offering. The CEO emphasized the impact of GLP-1 adoption on the medical weight loss market and the company's strategic measures to address this, including significant cost cuts and investment in growth drivers.

ReShape Lifesciences Inc. will report its financial results for Q3 2023 on November 8, 2023. The company will also provide a corporate update. A conference call will be held at 5:00 pm ET on November 8, with a live webcast available on the company's website. Participants can access the call by phone and an archived replay will be available on the website.