Apollo Endosurgery today priced a stock offering worth nearly $21 million for its line of bariatric and gastrointestinal devices. Austin, Texas-based Apollo said it plans to float roughly 3.75 million shares at $5.50 apiece, for gross proceeds of $20.6 million. The offering also includes a 45-day option for underwriter Craig-Hallum Capital of another 562,055 shares, […]
ReShape Lifesciences raises $2m
ReShape Lifesciences (NSDQ:RSLS) said yesterday it inked approximately $1.5 million in offering deals with a number of institutional investors. The San Clemente, Calif.-based company said it will float 374,572 shares of its common stock at a price of $3.92 per share in the registered direct offerings. ReShape Lifesciences will also issue warrants for the purchase of […]
FDA warns of 5 new deaths from liquid-filled intragastric balloons
Updated to include response from Apollo Endosurgery The FDA today released a notice warning of five new patient deaths related to two liquid-filled intragastric balloon systems used to treat obesity, produced by Apollo Endosurgery (NSDQ:APEN) and ReShape Lifesciences (NSDQ:RSLS). The additional deaths bring the total number of deaths worldwide from the Orbera intragastric balloon and ReShape integrated […]
GI Dynamics touts insulin resistance improvement, weight loss in EndoBarrier meta-analysis
GI Dynamics (ASX:GID) today released results from a meta-analysis of its EndoBarrier device in helping patients with type 2 diabetes and obesity, touting improvements in insulin resistance and positive changes in weight. The EndoBarrier device is a plastic gut sleeve designed to prevent the absorption of nutrients from food as it exits the stomach and enters the intestinal […]
7 medtech stories we missed this week: April 27, 2018
From DuPuy Synthes’s spinal implant launch to Lumendi’s FDA clearance, here are seven medtech stories we missed this week but thought were still worth mentioning. 1. DePuy Synthes launches spinal implants DePuy Synthes announced in an April 26 press release that it has launched its Proti 360º integrated titanium family of interbody devices that are designed […]
FDA clears shutdown of Lap-Band study for Apollo Endosurgery
Apollo Endosurgery (NSDQ:APEN) said late yesterday that the FDA approved the company’s move to terminate the Lap-Band lower body mass index post-approval study based on availability of long-term safety and effectiveness data on the device. The trial was part of a bid for expanded indications, through which the FDA required the Austin, Texas-based company to conduct a […]
Obalon slips on Q4, 2017 misses; shareholders sue
Obalon Therapeutics (NSDQ:OBLN) shares are under pressure today as the market reacts to fourth-quarter and full-year results that failed to meet both its own expectations and the consensus forecast on Wall Street. Separately, Obalon revealed in a regulatory filing that shareholders are pursing class action lawsuits alleging that the Carlsbad, Calif.-based company and its management […]
South Korea approves Apollo Endosurgery’s Orbera weight loss balloon
Apollo Endosurgery (NSDQ:APEN) has won approval in South Korea for its Orbera intragastric weight-loss balloon system. The Orbera system includes a silicone balloon that is placed into a patient’s stomach endoscopically and filled with saline. The balloon is designed to lessen the patient’s stomach capacity and thereby reduce the amount of food that the patient […]
Obalon: Whistleblower’s allegations ‘without merit’
Obalon Therapeutics (NSDQ:OBLN) said today that a probe by its audit committee found that the whistleblower allegations that last month sundered a $35 million offering are “without merit.” In January the San Diego-based company terminated the offering after the whistleblower told its independent auditors, KPMG, of the allegations of improper revenue recognition during the fourth quarter. […]
Obalon Therapeutics prices $35m offering
Obalon Therapeutics (NSDQ:OBLN) today priced an upcoming $35 million offering, looking to float 5.5 million shares at $5.50 per share. The San Diego-based medical device company won pre-market approval from the FDA for its ingestible, gas-filled balloon designed for weight loss in September 2016. The Obalon device is indicated for weight loss in adults 30 to 100 pounds overweight, with a […]
Obalon preps $35m offering
Obalon Therapeutics (NSDQ:OBLN) said this week that it’s planning a share flotation worth $35 million that could swell by another $5 million if an over-allotment option is fulfilled. The San Diego-based medical device company won pre-market approval from the FDA for its ingestible, gas-filled weight-loss balloon in September 2016. The Obalon device is indicated for weight loss in adults 30 to […]
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