Obalon Therapeutics (NSDQ:OBLN) today priced a stock offering worth $15 million, with proceeds pegged to finance its pivot to retail. The Carlsbad, Calif.-based company said it plans to float roughly 2.02 million shares of common stock together with warrants for 1.5 million shares of common stock and 1.74 million pre-funded warrants, each exercisable for one […]
Obalon slashes debt, raises $9m for weight loss balloon
Obalon Therapeutics (NSDQ:OBLN) said today that it slashed its debt load and added nearly $9 million to its coffers as it pivots toward a retail strategy. In April the Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, revealed plans to lay off 50% of its employees, including all of its direct sales force, as it […]
Obalon readies $17m offering for retail pivot
Obalon Therapeutics (NSDQ:OBLN) last week registered a stock offering worth more than $17 million that it plans to use to finance its pivot to retail. In April the Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, revealed plans to lay off 50% of its employees, including all of its direct sales force, in a […]
Tevosol taps Organ Recovery Systems vet Mills for CEO | Personnel Moves, June 17, 2019
Tevosol said it named Organ Recovery Systems veteran Ron Mills to be its new CEO. “Ron knows our technology and our market,” co-founder & CSO Dr. Darren Freed said in prepared remarks. “He brings a wealth of relevant experience to our team and adds a spark of creativity to drive the next exciting stage of […]
HeartFlow taps ex-Beaver-Visitec CEO Mead as chief exec | Personnel Moves – May 28, 2019
HeartFlow said today that it named former Beaver-Visitec prez & CEO Dana Mead, Jr., as its new president and CEO, replacing current prez & CEO Dr. John Stevens, who will continue to serve on the board as chair. Prior to joining Beaver-Visitec, Mead served as a strategic advisor and partner in Kleiner Perkins Caufield & […]
Obalon taps Cowen to explore ‘strategic alternatives’
Obalon Therapeutics (NSDQ:OBLN) today tapped an advisory firm to explore “strategic alternatives,” a week after revealing plans to cut its workforce in half. The Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, said April 3 that it would lay off 49 of its 100 employees, including all of its direct sales force, […]
Obalon to lay off half its workforce in retail pivot
Obalon Therapeutics (NSDQ:OBLN) said today that it’s planning to lay off 50% of its employees, including all of its direct sales force, in a pivot toward retail. The Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, said it hopes to cut its expenses by 35% during the second quarter after one-time […]
Former Rotation Medical CEO Shadan joins Miach Ortho | Personnel Moves – January 3, 2019
Early stage medtech firm Miach Orthopaedics said today that it named former Rotation Medical CEO and medtech vet Martha Shadan as its new prez and chief executive officer. Shadan has held numerous leadership positions at medtech firms, including Zimmer Biomet (NYSE:ZBH), Covidien, Bristol Myers Squibb and Merck, Westborough, Mass.-based Miach said. Prior to joining Miach, Shadan […]
Obalon lands $30m in capital from new deals
Obalon Therapeutics (NSDQ:OBLN) said this week that it inked two financing deals that could provide the company with up to $30 million in capital. The San Diego, Calif.-based company sells the only FDA-approved, swallowable intragastric balloon system for the treatment of obesity. In one deal, Obalon entered a common stock purchase agreement with Chicago-based institutional investor […]
Obalon wins FDA nod for Obalon Nav system
Obalon Therapeutics (NSDQ:OBLN) said today that it won FDA clearance for its Obalon Navigation system intended for use in placing the company’s Obalon Balloon system. The newly cleared Obalon Navigation system uses magnetic resonance imaging during placement and displays a real-time image of the balloon, the San Diego-based company said. The system is intended for use […]
Obalon Therapeutics wins FDA nod for Obalon Touch inflation system
Obalon Therapeutics (NSDQ:OBLN) said this week it won approval from the FDA for a premarket approval supplement application for its Obalon Touch inflation system. The newly cleared Obalon Touch is an automated system designed to inflate the Obalon balloon, a gas-filled balloon intended to promote weight loss in obese patients, the San Diego-based company said. “We […]
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