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Allurion Technologies Inc. - ALUR STOCK NEWS

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Allurion Technologies, Inc. (NYSE: ALUR) is a pioneering medical device company committed to combating obesity through innovation. The company offers a comprehensive weight loss platform known as the Allurion Program, which includes the world's first and only swallowable, procedure-less intragastric balloon designed for weight loss. This unique solution, the Allurion Balloon, is delivered without the need for surgery, endoscopy, or anesthesia, making it a convenient and less invasive option for patients.

The Allurion Program is further enhanced by the Allurion Virtual Care Suite (VCS), a suite of AI-powered tools that aid in remote patient monitoring, proprietary behavior change programs, secure messaging, and video telehealth services. The virtual suite also includes the Allurion Mobile App for consumers, the Allurion Connected Scale, and Allurion Insights for healthcare providers featuring the Iris AI Platform. These components work synergistically to ensure a comprehensive and personalized weight loss journey for patients.

Recent achievements by Allurion include a significant partnership with the Somerset NHS Foundation Trust, making it the first NHS trust to introduce the Allurion Gastric Balloon. This partnership aims to provide rapid, effective weight loss solutions to those most in need, particularly patients with high BMIs who require rapid weight loss to qualify for lifesaving surgeries.

Clinical data supports the efficacy and safety of the Allurion Program, with studies showing an average weight loss of 10-15% of body weight over approximately four months. Impressively, around 96% of this weight loss can be sustained one year after the balloon passes. The program has demonstrated particular effectiveness in patients with higher BMIs, with weight loss percentages reaching up to 20% over six months for those with a BMI over 40.

Financially, Allurion has shown robust growth and potential, evidenced by a 30% increase in procedural volume, reflecting strong demand for their innovative solutions. The company's commitment to expanding its offerings and its strategic partnerships aims to address the growing obesity epidemic, which imposes significant financial burdens on healthcare systems worldwide.

Allurion's leadership team, led by Founder and CEO Dr. Shantanu Gaur, continues to drive the company forward with a clear vision and strategic direction, focusing on expanding their global footprint and enhancing patient outcomes through continuous innovation and partnerships.

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Allurion Technologies, Inc. (NYSE: ALUR), a company focused on ending obesity, has announced that it will release its second quarter 2024 financial results on Tuesday, August 13, 2024. The company will host a conference call and live audio webcast on the same day at 8:30 AM ET to discuss the results and provide a business update.

Investors can access the conference call by dialing (888) 330-3417 (domestic) or +1 646 960 0804 (international) using Conference ID 1905455. The live audio webcast will be available on the Events section of Allurion's Investor Relations website. A replay of the call will be accessible by phone using Access Code 1905455, and the archived webcast will be available on the company's website.

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Allurion Technologies has announced the pricing of a $20 million public offering and concurrent private placement. The company will issue 14,406,508 shares and an equal number of warrants at $1.20 per share, generating $17.3 million in gross proceeds. An additional $2.7 million will come from the sale of Series A convertible preferred stock and private placement warrants to RTW Investments. The total expected gross proceeds from these offerings are $20 million. The funds will support clinical trials, commercial sales, R&D, and general corporate purposes. The offerings are anticipated to close by July 1, 2024, pending customary conditions.

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Allurion Technologies (NYSE: ALUR) has launched a public offering of up to $20 million in common stock and warrants. The offering is managed by Jefferies and TD Cowen, with Roth Capital Partners co-managing. Allurion plans to use the proceeds for clinical trials, commercial sales, R&D, and general corporate purposes. Additionally, RTW Investments has shown interest in purchasing up to $3 million of the securities, potentially through a concurrent private placement of Series A convertible preferred stock. The offering is contingent on SEC registration approval.

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Allurion Technologies (NYSE: ALUR) published new data showing that patients on the Allurion Program gained an average of 5.6% lean mass while losing 14% body weight over four months. The study included 571 patients tracked using the Allurion App, Connected Scale, and Health Tracker, supported by the AI-driven Allurion Virtual Care Suite. On average, patients reduced their weight from 97.9kg to 84.0kg and increased lean mass from 49.8kg to 52.6kg. Higher activity patients achieved a greater weight loss (15.6kg) and more significant lean mass gains (2.8kg) compared to lower activity patients. The body fat percentage also decreased from 32.7% to 27.9%. This study contrasts with GLP-1 therapy results, which typically show lean mass loss ranging from 3-11%, highlighting the potential of real-time body composition monitoring and personalized recommendations.

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Allurion Technologies (NYSE: ALUR) presented new data at the American Society for Metabolic and Bariatric Surgery Annual Meeting, showing a 22.1% weight loss at one year with its Allurion Balloon, surpassing the 15.4-16.2% weight loss achieved by 12-month endoscopic balloons. The study involved 121 patients across 11 obesity centers. Additional presentations highlighted the Allurion Balloon's low intolerance rate (1-3%) compared to other balloons (14.4%), and a 10-fold decrease in serious adverse events. The AI-powered Coach Iris received high satisfaction scores, with 84% for Fidelity, 79% for Accuracy, 89% for Safety, and 95% for Tone. Other topics included digital tracking of hunger and fullness.

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Allurion Technologies (NYSE: ALUR) has appointed Ojas A. Buch as Chief Operating Officer, effective June 3, 2024. Buch will oversee Research and Development, Manufacturing, Operations, Quality and Regulatory, and Business Development and Innovation functions. He brings 25 years of experience in the healthcare industry, having held leadership roles at GE Healthcare, St Jude Medical (Abbott), CareFusion (Vyaire), Philips, and PENTAX Medical – Americas. His appointment aims to help Allurion achieve significant milestones and scale sustainably. Dr. Shantanu Gaur, Allurion’s Founder and CEO, emphasized Buch's strategic mindset and leadership skills as critical to Allurion's growth and innovation in the weight loss solutions market.

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Allurion Technologies (NYSE: ALUR) has expanded its AI-powered weight loss coach, Coach Iris, to support patients on GLP-1s and other anti-obesity medications. This enhancement provides 24/7 personalized coaching on treatment duration, side effects, and lifestyle modifications. In addition, the company announced its first commercial agreements for its Virtual Care Suite (VCS) in the U.S.

The VCS integrates remote patient monitoring, predictive analytics, telehealth, and care team collaboration, and is designed for healthcare providers offering various weight loss therapies. Medical professionals like Dr. Christopher McGowan and Dr. Alexander Shapsis have adopted VCS, praising its ability to deliver personalized care and improve patient engagement.

According to Blue Cross Blue Shield, a substantial portion of patients discontinue GLP-1s prematurely, underscoring the need for better patient management. An Allurion study found that the VCS improved patient accountability, practice efficiency, and engagement.

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Allurion Technologies (NYSE: ALUR) has announced its participation in two major investor conferences: the Jefferies Global Healthcare Conference and the Sidoti Small Cap Virtual Conference in June 2024.

The company aims to discuss its strategic initiatives, latest financial performance, and long-term growth plans at these events.

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Allurion Technologies (NYSE: ALUR) announced three presentations at the European Congress on Obesity (ECO) held from May 12-15, 2024, in Venice, Italy. The presentations highlighted data from a study involving 712 patients across six obesity centers, demonstrating an average total body weight loss (TBWL) of 14.1% in four months, with 70% of the weight loss from fat mass and only 30% from lean body mass. The Allurion Program, which includes the Allurion Balloon and Virtual Care Suite, aims to preserve lean body mass during weight loss. Additionally, previous studies showed that more intensive programs led to 100% fat mass-derived weight loss without muscle mass loss. The presentations also covered behavior change coaching and the positive impact of GLP-1s on the program.

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Allurion Technologies (NYSE: ALUR) announced its Q1 2024 financial results with a revenue of $9.4 million, a 14% increase from Q4 2023 but a decrease from $14.1 million in Q1 2023. Procedural volume rose 12% year-over-year and 22% sequentially. Cash burn decreased to $8.4 million from $22 million in Q4 2023. Notable developments include treating the first NHS patient with the Allurion Balloon, launching the VCS digital platform in the U.S., and securing $48 million in financing. Operating expenses were reduced significantly, but a year-over-year revenue decline and lower gross profit margins were noted.

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FAQ

What is the Allurion Program?

The Allurion Program is a comprehensive weight loss platform that includes the Allurion Gastric Balloon, the world's first swallowable, procedure-less gastric balloon, and the Allurion Virtual Care Suite featuring AI-powered tools for remote patient monitoring and behavior management.

How does the Allurion Gastric Balloon work?

The Allurion Gastric Balloon is a swallowable capsule that, once ingested, is filled and remains in the stomach for approximately four months, creating a feeling of fullness and helping patients lose 10-15% of their body weight on average.

What makes the Allurion Program unique?

The Allurion Program is unique because it combines a non-invasive gastric balloon with a suite of digital health tools, providing a comprehensive approach to weight loss that includes behavior modification, remote monitoring, and personalized support.

Is the Allurion Balloon safe?

Yes, the Allurion Balloon is supported by over 30 peer-reviewed studies indicating it is a safe and effective method for weight loss. It does not require surgery, endoscopy, or anesthesia.

Who can benefit from the Allurion Program?

The Allurion Program is particularly beneficial for individuals with a higher BMI (Body Mass Index) who are seeking a rapid, non-surgical weight loss solution to improve their health and qualify for further medical treatments.

What recent achievements has Allurion accomplished?

Allurion recently partnered with the Somerset NHS Foundation Trust, the first NHS trust to introduce the Allurion Gastric Balloon, aiming to provide effective weight loss solutions quickly and efficiently.

What are the components of the Allurion Virtual Care Suite?

The Allurion Virtual Care Suite includes the Allurion Mobile App, Allurion Insights for healthcare providers, the Iris AI Platform, and the Allurion Connected Scale, all designed to support and monitor patients' weight loss journeys remotely.

How effective is the Allurion Program?

Studies show that the Allurion Program helps patients lose an average of 10-15% of their body weight in four months, with around 96% of this weight loss sustained one year after the balloon passes.

What support does Allurion offer to healthcare providers?

Allurion provides healthcare providers with access to Allurion Insights, the Iris AI Platform, and comprehensive support tools through the Virtual Care Suite to customize and monitor weight loss therapy for their patients.

What is the financial outlook for Allurion?

Allurion has shown strong growth in procedural volume and revenue, reflecting increasing demand for their solutions. They are strategically expanding their global presence and enhancing patient outcomes through ongoing innovation and partnerships.

Allurion Technologies Inc.

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