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 […]
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 […]
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