Reshape Lifesciences Inc. Stock Price, News & Analysis

ReShape Lifesciences (NASDAQ: RSLS) announced on April 11, 2023, that it received a Notice of Allowance from the U.S. Patent and Trademark Office for patent application 16/792,094, which pertains to the Obalon® Balloon System. This patent offers additional claims and is expected to provide protection until at least January 2031, potentially extended further through a Patent Term Extension.

CEO Paul F. Hickey emphasized that this patent significantly bolsters their intellectual property portfolio, marking a key step in defending their innovations within the intragastric balloon market. Since their first patent application in 2011, ReShape has developed a comprehensive patent family aimed at protecting its product offerings in weight loss and metabolic health solutions.

ReShape Lifesciences (Nasdaq: RSLS) announced a delay in its earnings release for the year ended December 31, 2022. The earnings call, initially set for March 29, 2023, is postponed to provide additional time for the completion of the year-end audited financial information. The company will communicate a new date and time for the earnings release once the audit process is finalized. ReShape Lifesciences specializes in weight loss and metabolic health solutions, offering products like the FDA-approved Lap-Band System and the virtual weight-management program ReShapeCare.

ReShape Lifesciences (Nasdaq: RSLS) has established a Scientific Advisory Board (SAB) to enhance its leadership in weight loss and metabolic health solutions. The SAB comprises renowned experts in obesity and metabolic diseases, who will offer strategic guidance on the company's development activities and product pipeline.

Paul F. Hickey, CEO, emphasized that the SAB will provide invaluable insights as ReShape prepares to submit its next-generation Lap-Band 2.0 to the FDA in the first half of 2023. The advisory board includes distinguished professionals such as Dr. Jaime Ponce and Dr. Caroline Apovian, aimed at expanding the utilization of the FDA-approved Lap-Band system.

ReShape Lifesciences (Nasdaq: RSLS) announced it will report its financial results for the year ended December 31, 2022, on March 29, 2023, before the market opens.

Management will host a conference call at 8:00 am ET on the same day, providing an opportunity for stakeholders to engage directly.

ReShape Lifesciences focuses on weight loss and metabolic health solutions, including the FDA-approved Lap-Band Program and the virtual ReShapeCare weight-management program.

ReShape Lifesciences (Nasdaq: RSLS) announced that its CEO Paul F. Hickey and CFO Tom Stankovich will present at the Q2 Virtual Investor Summit on March 29, 2023, at 1:00 pm ET. The presentation will focus on the company’s growth strategies and its comprehensive product portfolio for weight loss, including the Lap-Band® program. Attendees can schedule one-on-one meetings with management, and registration is free for qualified investors. A live webcast will be available on the ReShape website, with an archived replay for 90 days post-event.

ReShape Lifesciences specializes in weight loss and metabolic health solutions.

ReShape Lifesciences Inc. (Nasdaq: RSLS) has closed its upsized public offering of 1,275,000 units, priced at $8.00 each, generating approximately $10.2 million in gross proceeds. Each unit includes one share or pre-funded warrant and one warrant for 1.5 shares of common stock, with an option for cashless exercise. The funds will support growth strategies and working capital. Additionally, underwriters have an option for 191,250 shares and 286,875 warrants, which have been exercised. This offering is pursuant to an SEC registration statement filed on February 3, 2023.

ReShape Lifesciences Inc. (Nasdaq: RSLS) announced a public offering of 1,275,000 units at $8.00 per unit, each consisting of one share of common stock and warrants. The offering, expected to raise approximately $10.2 million, is set to close on February 8, 2023. Funds will be used for growth strategies, working capital, and general corporate purposes. An over-allotment option allows underwriters to purchase an additional 191,250 shares and warrants for 286,875 shares. This offering is registered under SEC rules.

ReShape Lifesciences (Nasdaq: RSLS) has announced a 1-for-50 reverse stock split, effective December 23, 2022. This means that every 50 shares will be converted into one. Adjustments will be made to outstanding warrants, stock options, and convertible preferred stock accordingly. The company also increased its authorized shares to 300 million. This decision was approved by stockholders on December 14, 2022. Stockholders will receive instructions from the transfer agent regarding the exchange of existing certificates.

ReShape Lifesciences (Nasdaq: RSLS) reported Q3 2022 results with revenues of $2.8 million, down 24.5% year-over-year, primarily due to a focus shift towards U.S. sales. Gross profit margin increased to 75.1% as domestic sales rose. The company appointed Paul F. Hickey as CEO and launched a targeted digital marketing strategy, reducing patient lead costs by over 50%. Despite the revenue decline, the firm anticipates revenue growth due to recent FDA product clearances and updates from ASMBS supporting bariatric surgery, aiming for profitability through strategic adjustments.