Medtech stocks have been on the rise in 2021, and the past week saw the trend continue with yet another all-time best mark. MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 […]
Obalon Therapeutics
Obalon Therapeutics’ stock skyrockets after announcing ReShape Lifesciences merger
Shares of intragastric balloon maker Obalon Therapeutics (NSDQ:OBLN) jumped as high as $10.71 today, or 568%, after the company announced a merger with ReShape Lifesciences (OTCMKTS:RSLS). The San Diego-based company’s stock eventually closed at $9.52 per share, up 491%. Obalon’s stock had closed at $1.61 yesterday. ReShape Lifesciences also saw a substantial jump in its stock price. […]
Neuronetics, Obalon Therapeutics get PPP loans
Neuronetics (NSDQ:STIM) and Obalon Therapeutics (NSDQ:OBLN) are the latest companies to announce that they entered into loans under the Paycheck Protection Program (PPP). The U.S. Small Business Association administers the PPP as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. Under the PPP, 75% of the loan proceeds must be used for payroll purposes, […]
Obalon to raise less from stock purchasing agreement
Obalon Therapeutics (NSDQ:OBLN) announced that it entered into a new purchase agreement with Lincoln Park Capital Fund that will see a previously agreed purchase of $20 million of Obalon’s common stock drop to $15 million. The new purchase agreement between the two companies is replacing the existing deal from Dec. 27, 2018. The previous agreement has […]
Obalon treats first patient at weight loss clinic
Obalon Therapeutics (NSDQ:OBLN) said last week that it treated the first patients at its company-owned Obalon Center for Weight Loss in San Diego. The San Diego-based company produces an FDA-approved swallowable, gas-filled intra-gastric balloon for non-surgical weight loss. Obalon said the new center is staffed with physicians specializing in weight loss, along with nutritional counselors and […]
Obalon pays off its long-term debt
Obalon Therapeutics (NSDQ:OBLN) said yesterady that it retired the remaining $5 million of its long-term debt facility with Pacific Western Bank. The San Diego-based company, which produces an FDA-approved swallowable, gas-filled intra-gastric balloon for weight loss, had previously cut its debt to Pacific Western Bank from $20 milllion to the remaining $5 million in July, while […]
Innoblative taps ex-Lumicell chief Londy for CEO | Personnel Moves, Sept. 13, 2019
Innoblative Designs last week named former Lumicell chief executive Kelly Londy as its new CEO. Apart from her two-year stint at the Lumicell helm, Londy was COO at Accuray (NSDQ:ARAY) and worked at GE Healthcare and Philips Healthcare. “Innoblative’s Sira RF ablation device offers unique capabilities that address shortcomings in the current advanced energy surgical market,” […]
Obalon prices $15m offering
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 […]
