Reshape Lifesciences Inc. - RSLS STOCK NEWS

SAN CLEMENTE, Calif., Nov. 02, 2022 – ReShape Lifesciences (Nasdaq: RSLS) announces that CEO Paul F. Hickey and CFO Tom Stankovich will present at the Q4 Investor Summit on November 14 at 1:30 p.m. ET. They will highlight the next-generation Lap-Band® program and the reshape™ virtual health coaching initiative. Qualified investors can register for the complimentary conference. A live webcast will be available on ReShape's website, with an archived replay for 90 days. ReShape Lifesciences specializes in weight loss and metabolic health solutions.

ReShape Lifesciences (Nasdaq: RSLS) announced updated guidelines from the ASMBS and IFSO for metabolic and bariatric surgery, which now recommend surgery for individuals with a BMI of 35 or more, regardless of comorbidities. The Lap-Band® is highlighted as the only FDA-approved device for weight reduction in this category. The new guidelines may significantly increase the number of eligible patients, enhancing access to weight loss procedures, particularly for those with a BMI over 30 and related health issues. These changes are expected to positively impact demand for Lap-Band® procedures and potentially boost revenues.

ReShape Lifesciences (Nasdaq: RSLS) announced promising results for its Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system, detailed in the journal Frontiers in NeuroScience. The study showed that DBSN™ effectively improved glycemic control in type 2 diabetic rat and swine models by blocking and stimulating vagus nerve signals. The therapy may reduce insulin resistance while increasing insulin release, positioning it as a novel, adjustable treatment for type 2 diabetes. This research was supported by NIH Small Business Innovation Research grants, confirming its potential impact on diabetes management.

ReShape Lifesciences (Nasdaq: RSLS) announced that the American Society for Metabolic and Bariatric Surgery (ASMBS) has issued a new Consensus Statement on the management of Lap-Band® patients. This consensus, developed by 39 expert surgeons, includes 34 statements focused on aftercare practices and the efficacy of Lap-Band® as a weight loss solution. The report emphasizes the importance of behavioral health and nutrition in post-surgery care, aligning with ReShape's reshapecare™ program designed to support patients through virtual health coaching.

ReShape Lifesciences (Nasdaq: RSLS) has received a $300,000 Small Business Innovation Research (SBIR) grant to develop the Diabetes Bloc-Stim Neuromodulation™ (DBSN™) device for treating hypoglycemia. This device uses proprietary vagus nerve block technology in conjunction with a continuous glucose monitor. The funding will enable further development of the device, which aims to enhance glucose management and reduce hypoglycemia risks in diabetes patients. The technology is backed by 48 patents and has shown safety and efficacy in previous studies.

ReShape Lifesciences (Nasdaq: RSLS) announced participation in one-on-one meetings with institutional investors at the A.G.P. Virtual MedTech Conference on September 21, 2022. The company, focused on weight loss and metabolic health, offers various solutions, including the FDA-approved Lap-Band® Program and the ReShape Vest™ System. For more information, interested investors can contact their A.G.P. representative.

ReShape Lifesciences (Nasdaq: RSLS) has appointed Nick Ansari as Senior Vice President of Global Commercial Operations, effective September 6, 2022. Ansari brings over 30 years of experience in developing sales initiatives within the medical device industry, having previously held key roles at Enteromedics, Johnson & Johnson, and Medtronic. His leadership is expected to enhance sales growth for the Lap-Band® and strengthen ReShape's market presence globally. The Lap-Band® has successfully helped over one million patients achieve weight loss over the past two decades.

ReShape Lifesciences (RSLS) reported a 19% sequential revenue increase for Q2 2022, reaching $2.9 million, following decreased COVID-19 restrictions. The company secured FDA clearance for the GIBI HD calibration tube and appointed new CEO Paul F. Hickey, enhancing its leadership. Financially, RSLS experienced a decline in gross profit to $1.9 million, with adjusted EBITDA losses widening to $7.8 million. Expenses surged due to a robust DTC marketing campaign, though cash reserves of $11.5 million strengthen its position into 2023. The outlook remains cautiously optimistic as sales momentum builds.

ReShape Lifesciences (Nasdaq: RSLS) will report its Q2 2022 financial results on August 15, 2022, after-market. The company specializes in weight loss and metabolic health solutions. A conference call will be held on the same day at 4:30 pm ET, with access through their website. ReShape offers products like the FDA-approved Lap-Band Program and the investigational ReShape Vest System. Their services include reshapecare, a virtual weight-management program, and the ReShape Marketplace, an online wellness product collection.