Reshape Lifesciences Inc. Stock Price, News & Analysis

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.

ReShape Lifesciences Inc. (NASDAQ:RSLS) announced a warrant exercise agreement on June 29, 2021, allowing accredited investors to exercise up to 7.9 million shares of common stock. In return, investors received new warrants for 5.9 million shares at $6.00 each. The gross proceeds from this transaction amounted to approximately $46.2 million. The company plans to repay $10.5 million of its current debt and use the remainder for corporate growth and working capital. A resale registration statement will be filed within 30 days for the new warrants.

ReShape Lifesciences shares began trading on The Nasdaq Capital Market under the ticker RSLS on June 16, 2021, with a trading volume exceeding 3.5 million shares on the first day. This marks a significant achievement for the company following its merger with Obalon Therapeutics. CEO Bart Bandy expressed enthusiasm about leveraging the advantages of being a Nasdaq-listed firm and advancing their mission in weight loss solutions, highlighting the Lap-Band® System and the new reshapecare™ virtual health program that is reimbursed by major insurance carriers.

ReShape Lifesciences Inc. announced the completion of its merger with Obalon Therapeutics, effective June 16, 2021, with shares trading under the ticker symbol RSLS on The Nasdaq Capital Market.

The merger enhances ReShape's capacity in the weight-loss solutions market, providing a broader range of FDA-approved products and reimbursed virtual care services.

Post-merger, ReShape and Obalon shareholders own 51% and 49% of the combined company, respectively, reinforcing ReShape's position as a leader in the physician-led weight loss industry.

ReShape Lifesciences and Obalon Therapeutics announced the closing of their merger effective June 15, 2021. Post-merger, ReShape stockholders will hold 51% and Obalon stockholders 49% of the new entity. Shareholders of ReShape will receive 0.5637 shares of the combined company for each share held. Obalon will undergo a 1-for-3 reverse stock split prior to the merger. The combined company will trade on Nasdaq under the symbol RSLS, starting June 16, 2021.

ReShape Lifesciences Inc. (OTCQB:RSLS) and Obalon Therapeutics, Inc. (NASDAQ:OBLN) are nearing the completion of their merger, pending approval from Nasdaq for their listing application. This merger follows stockholder approvals from both companies, with ReShape stockholders voting on May 13, 2021, and Obalon stockholders on May 25, 2021. Once finalized, the combined company will trade under the name ReShape Lifesciences Inc. with the ticker RSLS on Nasdaq. This development signifies a strategic move in the obesity treatment market.