Obagi Medical and Next Health Announce Collaboration in the ALOHA Program to Drive Real-World Evidence for Obagi® saypha® MagIQ™

Rhea-AI Summary

Obagi Medical (NASDAQ: WALD) announced a collaboration with Next Health for the ALOHA Program to generate real-world evidence on Obagi® saypha® MagIQ™. The multi-site evaluation will collect standardized clinical and patient-experience data across Next Health locations and share initial findings at leadership meetings and industry conferences.

The program integrates injectables with holistic wellness protocols to assess performance in longevity-focused clinical settings.

News Market Reaction – WALD

-5.69%

8 alerts

-5.69% News Effect

-4.7% Trough in 2 hr 25 min

-$12M Valuation Impact

$202M Market Cap

0.3x Rel. Volume

On the day this news was published, WALD declined 5.69%, reflecting a notable negative market reaction. Argus tracked a trough of -4.7% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $12M from the company's valuation, bringing the market cap to $202M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Industry experience: 35+ years Founding year: 2016 Brand ranking: Top 10

3 metrics

Industry experience 35+ years Obagi Medical legacy in advanced skincare

Founding year 2016 Next Health founding date

Brand ranking Top 10 Obagi Medical among Top 10 U.S. professional skin care brands in 2024

Market Reality Check

Price: $1.70 Vol: Volume 36,304 is below th...

low vol

$1.70 Last Close

Volume Volume 36,304 is below the 20-day average of 60,285 (about 0.6x normal activity). low

Technical Shares at $1.67 are trading below the 200-day MA of $2.12 and well under the $4.10 52-week high.

Peers on Argus

WALD fell 4.57% while key peers were mixed: EWCZ +1.01%, SKIN +1.33%, GROV +4.86...

WALD fell 4.57% while key peers were mixed: EWCZ +1.01%, SKIN +1.33%, GROV +4.86%, ACU -1.19%, DSY +0.47%, indicating a stock-specific move rather than a sector-wide shift.

Historical Context

5 past events · Latest: Jan 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 26	ALOHA collaboration	Positive	+0.6%	Added Platinum Dermatology as initial ALOHA partner for MagIQ evaluation.
Jan 21	Program launch	Positive	+6.9%	Launched ALOHA program for Obagi® saypha® MagIQ™ real‑world rollout.
Nov 24	Earnings and update	Negative	-6.5%	Reported Q2/H1 2025 results with large impairments and net loss.
Nov 16	Clinical data update	Positive	+4.2%	Presented positive HA injectable and scalp serum data at dermatology meeting.
Nov 14	Asset sale & loan	Neutral	+0.0%	Announced Japan trademark sale and new term loan to bolster balance sheet.

Pattern Detected

Across the last five news events, WALD’s price moves have consistently aligned with the underlying news tone.

Recent Company History

Over the past several months, Waldencast has focused on expanding Obagi’s injectable portfolio and strengthening its financial position. On Jan 21, 2026, Obagi launched the ALOHA Program to support Obagi® saypha® MagIQ™, followed by an ALOHA collaboration with Platinum Dermatology on Jan 26, 2026. Earlier, Q2/H1 2025 results highlighted Obagi growth alongside significant impairments, while November 2025 updates detailed new clinical data, a Japan trademark sale for Obagi, and credit facility refinancing. Today’s ALOHA collaboration with Next Health extends this launch strategy.

Market Pulse Summary

The stock moved -5.7% in the session following this news. A negative reaction despite a constructive...

Analysis

The stock moved -5.7% in the session following this news. A negative reaction despite a constructive commercial collaboration would contrast with recent ALOHA and MagIQ-related headlines, where price moves generally aligned with positive updates. The stock trading at $1.67, below the 200-day MA of $2.12 and well under the $4.10 52-week high, may frame sentiment around execution risk and prior financial impairments disclosed in 2025. Historical alignment with news tone suggests investors reassessed broader fundamentals rather than this partnership alone.

Key Terms

real-world evidence, hyaluronic acid, injectables, regenerative aesthetics, +2 more

6 terms

real-world evidence medical

"to drive real-world evidence for Obagi® saypha® MagIQ™"

Real-world evidence is information gathered from everyday sources like patient records, insurance claims, or everyday experiences, rather than controlled experiments or clinical trials. It helps investors understand how products or policies perform in real life, providing a more complete picture of their effectiveness and value beyond official tests. This type of evidence can influence decision-making by offering insights based on actual, everyday outcomes.

hyaluronic acid medical

"Aesthetics Leadership with Obagi’s Hyaluronic Acid (ALOHA) Program"

A naturally occurring molecule that acts like a tiny sponge, holding water in skin, joints and eyes to keep tissues plump and lubricated. Investors track products containing hyaluronic acid because they power large markets—such as skincare, injectable fillers, eye drops and wound treatments—so demand, regulatory approvals, manufacturing capacity and raw-material costs can meaningfully affect a company’s sales and profit outlook.

injectables medical

"integrating advanced injectables with holistic protocols, patient-centric education"

Medicines and therapeutic products designed to be given by a needle, syringe, or infusion rather than swallowed, including vaccines, biologic therapies and injectable formulations of drugs. They matter to investors because they often require specialized manufacturing, storage and delivery systems—like appliances that need professional installation—which raises costs, regulatory hurdles and supply risks but can also create pricing power, recurring sales and higher barriers to competition.

regenerative aesthetics medical

"Offering services such as IV therapy, regenerative aesthetics, hormone optimization"

Regenerative aesthetics is a branch of cosmetic medicine that uses treatments aimed at stimulating the body’s own repair mechanisms—like growth factors, cell-based therapies, and tissue-stimulating procedures—to improve skin, hair, and soft tissue appearance with longer-lasting repair rather than temporary masking. Investors care because these therapies can command higher prices, drive repeat business, and face distinct clinical trial, manufacturing and regulatory risks that affect long-term revenue and valuation.

hormone optimization medical

"Offering services such as IV therapy, regenerative aesthetics, hormone optimization"

Hormone optimization is a medical or wellness practice of adjusting a person’s hormone levels—through prescription drugs, patches, injections, creams or lifestyle programs—with the goal of improving energy, mood, sexual function or metabolic health. For investors, it matters because it drives demand for clinics, pharmaceuticals and diagnostic tests, creates recurring-revenue services, and carries medical and regulatory risks similar to any treatment that alters body chemistry, much like tuning an engine to change performance and longevity.

advanced diagnostics medical

"hormone optimization, and advanced diagnostics, Next Health operates a growing network"

Advanced diagnostics are newer, technology-driven medical tests and tools that detect disease, monitor treatment or predict health issues more accurately or faster than traditional methods. They matter to investors because better diagnostics can drive higher demand, lower treatment costs and open new market opportunities—think of them as smarter sensors that give doctors a clearer picture earlier, which can change patient outcomes and a company’s revenue prospects.

AI-generated analysis. Not financial advice.

Next Health selected as a leading wellness and longevity partner given its innovative approach to personalized aesthetics and health optimization

NEW YORK and LOS ANGELES, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Obagi Medical, a leading innovator in physician-dispensed skincare and aesthetic solutions and part of Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), today announced Next Health as a key partner in the Aesthetics Leadership with Obagi’s Hyaluronic Acid (ALOHA) Program. Next Health was selected for its pioneering commitment to longevity, personalized wellness, and cutting-edge aesthetic treatments across its growing network of health optimization centers.

Through this real-world evaluation collaboration, Next Health will conduct a structured, multi-site assessment of Obagi^® saypha^® MagIQ™ within its practices. The program will leverage Next Health’s expertise in integrating advanced injectables with holistic protocols, patient-centric education, and data-driven outcomes to generate meaningful real-world evidence on the filler’s performance in wellness-focused environments.

“At Next Health, we’re dedicated to pushing the boundaries of longevity and aesthetic medicine through innovative, evidence-based approaches,” said Dr. Milan Shah, Director of Aesthetics at Next Health. “Obagi’s ALOHA Program aligns perfectly with our mission to deliver transformative results by combining high-performance injectables like saypha^® MagIQ™ with comprehensive skincare and wellness strategies. This partnership allows us to contribute real-world insights that elevate patient care and outcomes across our network.”

The ALOHA Program evaluates both clinical efficacy and patient experience while equipping providers with integrated Obagi protocols to enhance satisfaction, loyalty, and consistent results. Standardized data will be collected across participating Next Health locations, with initial findings to be shared at upcoming Next Health leadership meetings and presented at major industry conferences to showcase the impact of this new injectable in a longevity and optimization setting.

“Collaborating with forward-thinking leaders like Next Health reinforces Obagi’s dedication to launching aesthetics solutions supported by robust, practice-based evidence,” said Drew Fine, U.S. General Manager, Professional Channel. “The ALOHA program with Next Health highlights our shared vision of holistic care—bridging injectables and skincare to drive superior patient results and practice growth in the evolving wellness landscape.”

Obagi^® saypha^® MagIQ™, developed by Croma-Pharma GmbH, utilizes proprietary MACRO Core Technology to create a stable three-dimensional hyaluronic acid matrix. The technology is designed to deliver natural-looking results with category-leading performance, including high usable HA content upon injection, consistent gel distribution, and a predictable injection force and swelling profile¹.

For more information about ALOHA, visit https://obagi-professional.com.

About Obagi Medical
Obagi Medical is an industry-leading, advanced skincare line rooted in research and skin biology, with a legacy of 35+ years of experience. Initially known for its leadership in the treatment of hyperpigmentation with the Obagi Nu-Derm^® System, Obagi Medical products are designed to address a variety of skin concerns, including premature aging, photodamage, skin discoloration, acne, and sun damage. As the fastest-growing professional skincare brand in the U.S. in 2024,² Obagi Medical empowers individuals to achieve healthy, beautiful skin. More information about Obagi Medical is available on the brand's website, https://www.obagi.com.

About Next Health
Founded in 2016 by Dr Darshan Shah, cofounded by Kevin Peake, and where Dr Milan Shah has since served on the Medical Advisory Board, Next Health is a leading Health Optimization and Longevity Center dedicated to helping individuals live healthier, longer lives through personalized, cutting-edge treatments. Offering services such as IV therapy, regenerative aesthetics, hormone optimization, and advanced diagnostics, Next Health operates a growing network of state-of-the-art wellness centers focused on vitality, performance, and evidence-based care. For more information, visit www.next-health.com.

About Waldencast plc
Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. For more information please visit: https://ir.waldencast.com.

Media Contact:
obagi@behrmancesa.com

Source: Waldencast plc

¹ Puljic A, Frank K, Cohen J, Otto K, Mayr J, Hugh-Bloch A, Kuroki-Hasenöhrl, D. A Scientific Framework for Comparing Hyaluronic Acid Filler Crosslinking Technologies. Gels. 2025; 11(7):487
² Among the Top 10 Professional Skin Care Brands in the U.S., According to Kline’s 2024 Global Professional Skin Care Series (China, Europe and the U.S.)

FAQ

What will Obagi Medical and Next Health evaluate in the ALOHA Program (WALD) launched January 28, 2026?

They will evaluate clinical efficacy and patient experience for Obagi® saypha® MagIQ™ in real-world practice settings. According to the company, standardized data will be collected across multiple Next Health locations to measure performance in a wellness and longevity context.

How will Next Health conduct the real-world assessment of saypha MagIQ under WALD's ALOHA Program?

Next Health will run a structured, multi-site assessment integrating injectables with holistic protocols and patient education. According to the company, the program uses data-driven outcomes and standardized collection across participating Next Health practices.

When and where will initial ALOHA Program findings from WALD and Next Health be shared?

Initial findings will be presented at Next Health leadership meetings and major industry conferences. According to the company, aggregated, standardized results are planned for presentation to showcase the injectable's impact in longevity-focused settings.

What is unique about Obagi saypha MagIQ as described in the WALD announcement?

Obagi® saypha® MagIQ™ uses MACRO Core Technology to create a stable 3D hyaluronic acid matrix for predictable performance. According to the company, this design aims for high usable HA content, consistent gel distribution, and predictable injection and swelling profiles.

What services does Next Health provide that support the ALOHA Program with WALD?

Next Health offers personalized longevity and wellness services like regenerative aesthetics and advanced diagnostics. According to the company, its network integrates advanced injectables with holistic protocols and patient-centric education to generate real-world evidence.