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On December 16, 2021, Allergan Aesthetics, part of AbbVie (NYSE: ABBV), completed its acquisition of Soliton, Inc. (NASDAQ: SOLY). This acquisition enhances Allergan's offering of non-invasive body contouring solutions by adding the RESONIC™ device, which is FDA-cleared for long-term cellulite improvement and tattoo removal. Clinical data showed that 97.6% of participants reported significant cellulite improvement post-treatment. The acquisition reflects Allergan's commitment to innovation in aesthetic treatments, addressing consumer concerns about cellulite.
Soliton, Inc. (Nasdaq: SOLY) reported its first-quarter 2021 results, showing a net loss of $5.2 million, up from $3.3 million in Q1 2020. Operating expenses rose to $5.2 million due to increased G&A and sales and marketing costs. Despite this, the company highlighted key achievements, including FDA clearances for its RESONIC™ device aimed at cellulite treatment and tattoo removal, as well as a new collaboration with the US Navy for clinical studies. As of March 31, 2021, cash reserves stood at $26.3 million, sufficient to support operations through Q3 2022.
Allergan Aesthetics, a division of AbbVie (NYSE: ABBV), announced the acquisition of Soliton (NASDAQ: SOLY) for $22.60 per share, valuing the deal at approximately $550 million. The acquisition includes Soliton's FDA-cleared RESONIC™ device, which offers a non-invasive treatment for cellulite. This technology enhances Allergan’s body contouring portfolio, complementing its existing products like CoolSculpting®. The transaction is subject to regulatory approvals and shareholder consent.
Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), has announced an agreement to acquire Soliton (NASDAQ: SOLY) for $22.60 per share in cash, valuing the transaction at approximately $550 million. This acquisition aims to enhance Allergan's portfolio with Soliton's RESONICTM device, which has received FDA 510(k) clearance as a non-invasive cellulite treatment. The deal, approved by both companies' boards, is subject to customary closing conditions. Allergan's established market presence is expected to maximize the commercial potential of Soliton's technology.
Soliton, Inc. (Nasdaq: SOLY) has launched the RESONIC™ device, utilizing Rapid Acoustic Pulse™ technology for tattoo removal and cellulite treatment. This dual-platform device offers up to 75% tattoo fading in just three sessions and significant cellulite improvement after one session. FDA-cleared for use as an accessory to the 1064 nm Q-Switched laser, RESONIC aims to enhance patient satisfaction and streamline multiple revenue streams for healthcare providers. The device will be available through select physicians and spas starting June 2021.
Soliton, Inc. (Nasdaq: SOLY), a medical device firm, will release its first quarter 2021 financial results on May 13, 2021, before market open. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results. Soliton's key product, RESONIC™, utilizes acoustic shockwaves for non-invasive treatment of cellulite and tattoo removal. The company is based in Houston, Texas, and the technology could improve treatment profitability while reducing patient costs. Investors can access the call via the company's website.
Soliton, Inc. (Nasdaq: SOLY) announced FDA clearance for modifications to its RESONIC™ device, marking a significant milestone for its commercial launch planned in Q2 2021. The improved RESONIC device incorporates an autoloading cartridge and a better user interface, enhancing the tattoo removal and cellulite treatment experience. This regulatory approval follows a special 510(k) application submitted on March 31, 2021. The company anticipates strong interest from dermatologists and plastic surgeons due to the innovative Rapid Acoustic Pulse (RAP) technology.
Soliton, Inc. (Nasdaq: SOLY) announced that its 52-week results from a pivotal cellulite trial will be presented at the ASLMS Virtual Annual Conference on May 15-16, 2021. CEO Brad Hauser expressed enthusiasm over the findings demonstrating the potential of the RESONIC device to achieve long-term cellulite reduction. The presentation will cover patient satisfaction derived from a single non-invasive treatment with the RAP device. Soliton is focused on delivering innovative medical solutions aimed at reducing treatment costs and improving outcomes for patients.
Soliton, Inc. (Nasdaq: SOLY) announced the FDA's acceptance of its special 510(k) application for the RESONIC device, aiming for a commercial launch soon. This application focuses on an autoloading cartridge and an improved user interface to enhance usability. The company has completed all required safety testing and is poised to launch RESONIC for cellulite and tattoo removal in Q2 2021. Additionally, Soliton expanded its sales team to support this product introduction. The FDA clearance is expected within 15-20 days, barring delays due to COVID-19.
Soliton, Inc. (Nasdaq: SOLY), a Houston-based medical device company, will present at three healthcare conferences from March 15 to March 18, 2021. The events include the 33rd Annual Virtual ROTH Conference, Oppenheimer's 31st Annual Healthcare Conference, and Maxim 2021 Emerging Growth Virtual Conference. Presentations will be available on-demand via the company's investor relations website. Soliton's first commercial product, RESONIC™, utilizes acoustic shockwaves for tattoo removal and cellulite treatment, aiming to reduce costs while enhancing practice profitability.
