Welcome to our dedicated page for Apollo Endosurge news (Ticker: APEN), a resource for investors and traders seeking the latest updates and insights on Apollo Endosurge stock.
This page contains historical news coverage for Apollo Endosurgery Inc. (APEN), which operated as a medical technology company specializing in minimally invasive gastrointestinal and obesity treatment devices. Apollo Endosurgery was acquired by Boston Scientific and no longer operates independently. This archive provides context on the company's history and the events leading to its acquisition.
Apollo Endosurgery's news flow historically focused on clinical developments, regulatory approvals, and commercial milestones related to its endoscopic device portfolio. The company generated announcements around revenue performance, product launches in new markets, clinical trial results, and adoption of its OverStitch suturing system and ORBERA intragastric balloon. Investors followed Apollo's progress in expanding reimbursement coverage for its obesity intervention products and its penetration into the therapeutic endoscopy market.
This historical news archive documents Apollo Endosurgery's evolution from a specialized medical device company to its eventual acquisition. Browse past coverage to understand the company's product development trajectory, market expansion efforts, and the strategic rationale behind its integration into a larger medical technology platform. These articles provide insight into the competitive dynamics of the minimally invasive gastrointestinal device market and the factors that shaped Apollo's corporate journey.
Boston Scientific generated net sales of $3.242 billion in Q4 2022, increasing by 3.7% year-over-year. The results reflect an 8.7% operational and 7.1% organic growth, despite a 200 basis point impact from Italian payback provisions. GAAP net income was $126 million or $0.09 EPS, lower than expected guidance. For 2022, total net sales reached $12.682 billion, a 6.7% growth, but GAAP net income fell to $642 million or $0.45 EPS. The company anticipates 5% to 7% net sales growth in 2023 and has announced acquisitions to expand its portfolio.
Apollo Endosurgery (NASDAQ:APEN) announced two significant milestones in its operational progress: the MERIT trial was recognized as a 2022 Top Story in Gastroenterology, highlighting a 77% success rate in weight loss with Apollo's ESG procedure, and four Apollo systems were approved by the ASMBS as FDA Approved Bariatric Devices. These advancements aim to enhance treatment options for obesity, facilitating procedures without IRB approval. The company's commitment to minimizing invasive treatments is reflected in its continued growth in the gastrointestinal and bariatric sectors.
Apollo Endosurgery has announced a definitive merger agreement with Boston Scientific to be acquired for $10.00 per share in an all-cash transaction, valuing the deal at approximately $615 million.
This acquisition represents a 67% premium over Apollo's stock price as of November 28, 2022.
The transaction, approved by Apollo's Board, is subject to stockholder approval and is expected to finalize in the first half of 2023, with 8.4% of stockholders already agreeing to vote in favor.
Boston Scientific has announced a definitive agreement to acquire Apollo Endosurgery for $10 per share, valuing the deal at approximately $615 million. This acquisition aims to enhance Boston Scientific's endoluminal surgery portfolio and expand its presence in the endobariatric market, a growing sector for weight management solutions. Apollo is projected to generate net sales of around $76 million in 2022, driven by its innovative endoscopic suturing systems. The transaction is expected to close in the first half of 2023, with minimal impact on adjusted earnings per share in 2023 but accretive thereafter.
Apollo Endosurgery, Inc. (NASDAQ: APEN) announced investor meetings for November and December 2022 at four major healthcare conferences. The events include:
- Stifel Healthcare Conference on November 16 at 2:25 p.m. ET in New York City.
- Craig-Hallum Alpha Select Conference on November 17 in New York City.
- Piper Sandler Healthcare Conference on November 30 at 4:00 p.m. ET in New York City.
- Stifel Medtech Madness Tour on December 14 at 4:45 p.m. PT in Menlo Park, CA.
For meeting inquiries, contact Apollo's Investor Relations.
Apollo Endosurgery reported a 20% increase in global revenue for Q3 2022, reaching $19.6 million, with a 29% rise in U.S. revenue. The company received FDA authorization for its Apollo ESG and REVISE systems targeting obesity treatment. Operating expenses rose by $3.3 million due to salesforce expansion, leading to a net loss of $11.4 million. Despite challenges like potential economic impacts, Apollo raised its FY 2022 revenue guidance to $75-76 million. The company emphasizes its role in addressing obesity with validated solutions backed by clinical literature.
Apollo Endosurgery (NASDAQ:APEN) is set to release its financial results for Q3 2022 on November 1, 2022, after market close. A live webcast and audio call will follow at 3:30 p.m. CT to discuss the results, accessible via their website. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, with a presence in over 75 countries.
Apollo Endosurgery reported a 16% increase in global revenue for Q2 2022, reaching $19.3 million. The firm's U.S. revenue grew 18%, with notable demand for the Endoscopic Suturing System (ESS) and Intragastric Balloon (IGB). Gross margin improved to 56.8%, while operating losses stood at $6.6 million. The FDA authorized two new systems, bolstering its market position. Despite a net loss of $10.4 million, Apollo maintains a solid cash position of $75.7 million and reaffirms its 2022 revenue guidance of $73-$75 million, despite potential economic challenges.
Apollo Endosurgery (NASDAQ: APEN) announced the electronic publication of the MERIT Study, evaluating the Endoscopic Sleeve Gastroplasty (ESG) procedure, in The Lancet. The multi-center trial showed 49.2% excess body weight loss after 12 months for the ESG group compared to 3.2% for the control group. The FDA recently authorized Apollo's ESG and REVISE systems, being the first and only devices for ESG. The study indicates ESG's safety and effectiveness, underscoring its potential to address the obesity epidemic.
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