ReShape Lifesciences, Inc. - RSLS STOCK NEWS

ReShape Lifesciences (NASDAQ:RSLS) has appointed Al Diaz as Vice President of Operations and Research and Development. Mr. Diaz brings over 30 years of executive experience, previously serving as Executive VP at ClearFlow, Inc. His role will focus on enhancing manufacturing and R&D efforts post-merger with Obalon Therapeutics. Bart Bandy, CEO, expressed enthusiasm for Diaz’s addition to the team, emphasizing the importance of his leadership in driving profitability and expansion.

ReShape Lifesciences (NASDAQ:RSLS) reported strong financial results for Q2 2021, achieving revenue of $3.5 million, up from $1.7 million in Q2 2020. The merger with Obalon Therapeutics enhances market positioning, while the launch of ReShape Marketplace TM expands its weight loss product ecosystem. The company raised $46 million in funding, eliminating debt and improving its balance sheet. Gross profit rose to $2.1 million from $0.8 million year-over-year. Total operating expenses increased to $5.9 million, with a reduced adjusted EBITDA loss of $1.2 million.

ReShape Lifesciences Inc. (NASDAQ:RSLS) reported impressive preliminary results for Q2 2021, with revenues of $3.5 million, marking a 107% increase from $1.7 million in Q2 2020. The gross profit reached $2.1 million, reflecting a gross margin of 61%, up from 49% year-over-year. The company also completed a merger with Obalon Therapeutics, raised $46 million in funding, and transitioned manufacturing to a US-based firm. Cash and equivalents stood at $40.2 million as of June 30, 2021.

ReShape Lifesciences (NASDAQ:RSLS) announced CEO Bart Bandy's appearance on the Big Biz Show, highlighting the company's growth and product offerings.

Bandy expressed gratitude for the platform that showcases businesses on a growth trajectory. He emphasized recent milestones that position ReShape for continued success in the weight loss and metabolic health sector, reflecting the company's commitment to providing innovative health solutions.

The interview could be viewed on YouTube.

ReShape Lifesciences Inc. (NASDAQ:RSLS) will release its second quarter financial results on August 5, 2021, before markets open. CEO Bart Bandy expressed eagerness to share significant events and results during the announcement. A webinar will follow the release, providing insights into the financial performance and business updates. The company's portfolio includes the FDA-approved Lap-Band® Program, the investigational ReShape Vest™ System, and the reshape care™ virtual weight-management program. For more information, visit Investor Relations.

ReShape Lifesciences Inc. (NASDAQ:RSLS) has unveiled ReShape Marketplace™, an online platform providing a variety of wellness products supporting nutrition, exercise, sleep, and stress management. This initiative extends the company's existing reshape care™ telehealth service for weight loss. CEO Bart Bandy emphasizes the marketplace's role in aiding consumers on their health journeys. Products include portion control guides, weighted blankets, and more. This launch reinforces ReShape's commitment to becoming a leading source for comprehensive weight loss and wellness solutions.

ReShape Lifesciences (NASDAQ:RSLS) announced the completion of its Lap-Band manufacturing transition from Apollo Endosurgery to a Massachusetts-based manufacturer. This shift is expected to reduce costs and improve margins by enhancing control over the manufacturing process. The FDA-approved Lap-Band is the only laparoscopic weight-loss device for a BMI of 30 or higher in the U.S. with over a million procedures performed globally. The company aims to support growing weight-loss needs and contribute to job creation in the U.S.

ReShape Lifesciences (NASDAQ:RSLS) reported an increase in Lap-Band utilization post-COVID-19 as patients seek effective weight-loss solutions. With over 70% of American adults overweight, there has been a significant market demand for the FDA-approved Lap-Band, known for its lower complication rates. The company plans to amplify patient-directed advertising, aiming to recover annual revenue of approximately $300 million. The recent launch of the reshapecare™ telehealth service aims to enhance patient engagement and support effective aftercare.

ReShape Lifesciences announced a warrant exercise agreement generating approximately $46 million in gross proceeds, aimed at accelerating its growth strategy and enhancing its weight-loss portfolio. The funds will support marketing activities, product development, and debt repayment. The Lap-Band® System, with over 1 million placements, remains central to their offerings, alongside the new reshapecare™ virtual health program. Executives express optimism about future growth, emphasizing a solid financial position and strategic initiatives to capture a larger share of the weight-loss market.