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Reshape Lifesciences Inc. (RSLS) is a medical device innovator focused on non-surgical solutions for weight management and metabolic health. This page provides investors and healthcare professionals with essential updates on corporate milestones, product developments, and clinical advancements.
Access timely announcements including regulatory approvals, strategic partnerships, and clinical trial outcomes. Our curated news feed helps stakeholders track the company’s progress in advancing alternatives to invasive obesity treatments and diabetes management technologies.
Key coverage areas include product innovation updates, financial disclosures, and market expansion initiatives. Bookmark this page for structured access to RSLS’s evolving role in the medical device sector, with neutral reporting suitable for both casual observers and professional analysts.
ReShape Lifesciences Inc. (Nasdaq: RSLS) reported Q2 2024 financial results and provided a corporate update. Key highlights include:
1. Entered into a merger agreement with Vyome Therapeutics and an asset purchase agreement with Biorad Medisys.
2. Revenue totaled $2.0 million for Q2 2024, down 12.8% year-over-year.
3. Gross profit margin improved to 57.7% in Q2 2024 from 53.0% in Q2 2023.
4. Significant reduction in operating expenses, down 45.4% in H1 2024 compared to H1 2023.
5. Cash and cash equivalents of $1.2 million as of June 30, 2024.
The company is focusing on maximizing shareholder value through strategic transactions and cost reduction initiatives.
ReShape Lifesciences Inc. (Nasdaq: RSLS), a leading weight loss and metabolic health-solutions company, has announced it will release its financial results for the second quarter ended June 30, 2024, along with a corporate update on August 14, 2024, after market close. The company will host a conference call on August 15 at 4:30 pm ET to discuss the results.
Notably, Krishna K. Gupta, a current Director of Vyome Therapeutics, will join the call. Gupta is set to become Chairman of the combined company following the completion of the previously announced merger between ReShape Lifesciences and Vyome Therapeutics.
Investors can access the live webcast through the company's website and participate in the conference call by registering via the provided link. An archived replay will also be available on the company's website after the call.
ReShape Lifesciences has entered into a merger agreement with Vyome Therapeutics and an asset purchase agreement with Biorad Medisys for $5.16 million.
The all-stock merger will see Vyome and ReShape combine, focusing on immuno-inflammatory diseases. Post-merger, ReShape will be renamed Vyome Holdings and will trade under the Nasdaq ticker 'HIND'.
ReShape's assets, including the Obalon Gastric Balloon System, will be sold to Biorad, with Biorad assuming most liabilities.
ReShape and Vyome secured commitments for $7.3 million in investments. The merger requires approval from ReShape's stockholders and various regulatory bodies.
ReShape Lifesciences (Nasdaq: RSLS) announced its first-quarter financial results for 2024, highlighting a commercial launch of the Lap-Band® 2.0 FLEX and a significant reduction in operating expenses by 51% compared to Q1 2023. The company anticipates further expense reductions by 55.4% for the entire year.
Revenue for Q1 2024 was $1.9 million, a 15% decrease from the same period in 2023, mainly due to reduced sales volume from GLP-1 pharmaceuticals. However, the gross profit remained steady at $1.2 million, with an improved gross profit percentage of 59.9% compared to 53.5% in 2023.
ReShape also reported a decrease in sales and marketing expenses by 53.3% to $1.0 million, and a 55.6% reduction in general and administrative expenses to $1.9 million. The company has a net working capital of $4.4 million as of March 31, 2024.
Additionally, ReShape strengthened its intellectual property portfolio with a new patent for an intragastric balloon system valid until 2031 and continued its efforts to find synergistic M&A opportunities.
ReShape Lifesciences (Nasdaq: RSLS), a leading provider of physician-led weight loss and metabolic health solutions, will announce its financial results for Q1 2024 on May 15, 2024, after market close. The company will also provide a corporate update at that time. A conference call to discuss these results will be held at 4:30 pm ET on the same day. Interested parties can access the live webcast and the archived replay on ReShape's website under the 'Events and Presentations' section. Participants are encouraged to register and join the call 15 minutes early to ensure timely access.
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