Welcome to our dedicated page for ReShape Lifesciences news (Ticker: RSLS), a resource for investors and traders seeking the latest updates and insights on ReShape Lifesciences stock.
RSLS was the Nasdaq ticker symbol for ReShape Lifesciences Inc., a physician-led weight loss and metabolic health-solutions company focused on device-based treatments for obesity and metabolic disease. News flow around RSLS has covered both the company e2 80 99s product developments in surgical and medical instruments and its major corporate transactions, including a reverse merger and asset sale.
ReShape Lifesciences frequently announced updates related to its obesity treatment technologies. These included communications about the FDA-approved Lap-Band ae System and Lap-Band ae 2.0 FLEX, the Obalon ae swallowable intragastric balloon technology, and the investigational Diabetes Bloc-Stim Neuromodulation ae (DBSN ae) system for type 2 diabetes and metabolic disorders. The company also issued news about its intellectual property, such as the issuance of a U.S. patent titled e2 80 9cIntragastric Device e2 80 9d covering a swallowable, degradable intragastric balloon system.
In addition to product and IP announcements, RSLS-related news has focused heavily on strategic and financial events. ReShape Lifesciences disclosed a merger agreement with Vyome Therapeutics, Inc., a clinical-stage healthcare company targeting immuno-inflammatory and rare diseases, and later reported shareholder approvals, Nasdaq listing approvals, and completion of the merger. Following the closing on August 15, 2025, the public company was renamed Vyome Holdings, Inc. and began trading under the symbol HIND. News items also addressed the sale of substantially all of ReShape e2 80 99s assets to an affiliate of Biorad Medisys, reverse stock split approvals and implementation, cost reduction measures, and Nasdaq compliance updates.
Investors and observers using this RSLS news page can review historical coverage of ReShape Lifesciences e2 80 99 product announcements, patent milestones, corporate governance changes, shareholder meetings, merger progress with Vyome Therapeutics, and the asset sale to Biorad Medisys. This context helps explain how the former RSLS-listed company transitioned into Vyome Holdings, Inc. and why the stock now trades under the HIND symbol on The Nasdaq Capital Market.
ReShape Lifesciences Inc. (Nasdaq: RSLS) has announced a 1-for-58 reverse stock split of its common stock, effective for trading on September 23, 2024. This decision, approved by stockholders on February 23, 2024, will convert every 58 shares of issued and outstanding common stock into one share. The reverse split will also affect the company's outstanding warrants, stock options, and convertible preferred stock proportionally. Fractional shares will be rounded up, and the number of authorized shares will remain unchanged. Stockholders will receive instructions from Equiniti Trust Company, regarding the exchange of existing certificates. The new CUSIP number for RSLS common stock post-split will be 76090R309.
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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