Apollo Endosurge Stock Price, News & Analysis

Apollo Endosurgery reported strong financial results for Q1 2021, achieving $13.9 million in total revenue, a 29% increase year-over-year. Key product lines showed growth, with Endoscopic Suturing System (ESS) revenue up 26% and Intragastric Balloon (IGB) revenue rising 41%. The gross margin improved to 54%, up 2% from the previous year. Operating expenses decreased by 9% to $11.1 million, while net loss improved by 55% to $4.6 million. The company secured a six-month extension on its term loan, enhancing its financial position.

Apollo Endosurgery announced the appointments of Kirk Ellis as Vice President of US Sales and Steve Bosrock as Vice President of Marketing & Medical Education, effective May 10, 2021. The separation of these roles is intended to enhance the company's commercial capabilities as it seeks growth across its product lines. Both leaders have over 20 years of industry experience. The company also thanked Bret Schwartzhoff for his contributions as the previous head of sales and marketing.

Apollo Endosurgery, Inc. (NASDAQ:APEN) will release its financial results for Q1 2021 on May 4, 2021, after market close. The company will hold a conference call at 3:30 p.m. CT to discuss these results, accessible via telephone or a live webcast on their website. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, offering products like the OverStitch™ and Orbera Intragastric Balloon in over 75 countries. Caution is advised due to potential risks from the ongoing COVID-19 pandemic and regulatory challenges.

Apollo Endosurgery (NASDAQ: APEN) announced promising pre-clinical results for its X-Tack™ Endoscopic HeliX Tacking System, demonstrating superior efficacy in closing large mucosal defects compared to traditional TTS clips. A study at Mayo Clinic showed 100% closure success with X-Tack versus 81.3% with TTS clips. The X-Tack device addresses complications from colonic procedures by providing reliable closure for difficult defects, enhancing patient outcomes. Following a limited launch, X-Tack is now commercially available in the U.S.

Apollo Endosurgery, Inc. (NASDAQ:APEN) has announced the equity awards granted to Chas McKhann upon his appointment as CEO in March 2021. McKhann received a stock option to purchase 848,733 shares at an exercise price of $5.95, with a vesting schedule starting in March 2022. Additionally, he was awarded 707,278 performance-based restricted stock units, vesting upon achieving specific revenue milestones. Apollo specializes in minimally invasive medical devices for gastrointestinal and bariatric procedures, with products available in over 75 countries.

Apollo Endosurgery (NASDAQ:APEN) announced the assignment of Category I CPT codes for esophagogastroduodenoscopy with the deployment of gastric bariatric devices, effective January 1, 2023. This initiative, endorsed by major medical societies, aims to enhance obesity treatment accessibility for patients with a BMI of 30-40 kg/m². CEO Chas McKhann highlighted over 230 peer-reviewed publications supporting the Orbera Intragastric Balloon, which has distributed over 300,000 units globally. The move marks a significant step forward in advancing non-surgical weight-loss solutions.

Apollo Endosurgery, Inc. (NASDAQ:APEN) will participate in the virtual H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. Management, including CEO Chas McKhann and CFO Stefanie Cavanaugh, will provide a pre-recorded presentation and be available for one-on-one meetings with investors. Apollo specializes in less invasive medical devices for gastrointestinal and bariatric procedures, marketing its products in over 75 countries. For further information, contact the investor relations team.

Apollo Endosurgery (NASDAQ:APEN) announced that its Orbera Intragastric Balloon received a Breakthrough Device Designation from the FDA for treating patients with a BMI of 30-40 kg/m² suffering from noncirrhotic nonalcoholic steatohepatitis (NASH) with liver fibrosis. This designation aims to expedite patient access to innovative technologies addressing serious health conditions. Current treatment for NASH often fails to achieve necessary weight loss, but Orbera has shown potential in achieving 7-10% total body weight loss, which may improve NASH symptoms.

Apollo Endosurgery (NASDAQ:APEN) reported its fourth quarter financial results for 2020, showing a 14.9% increase in U.S. Endoscopy product sales and a 7.3% rise in total revenue to $12.9 million compared to Q4 2019. The company reduced its net operating loss by 53% to $3.2 million and improved cash utilization by 58.1%. Additionally, Apollo received FDA clearance for the X-Tack Endoscopic HeliX Tacking System, enhancing its product portfolio. Total operating expenses decreased by $2.3 million due to restructuring efforts, while gross margin improved to 55.9%.