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 […]
Obalon Therapeutics closes $10m private placement
Obalon Therapeutics (NSDQ:OBLN) saw shares rise today after it closed a private placement that brought in gross proceeds of $10 million. In the offering, the San Diego-based company sold approximately 5.5 million shares at a price of $1.82 per share. Obalon, which makes a gas-filled balloon designed to promote weight loss in obese patients, said that the […]
Obalon surges on $10m private placement
Obalon Therapeutics (NSDQ:OBLN) shares are up today after the weight loss device maker said it inked a private placement deal worth $10 million. San Diego-based Obalon, which makes a gas-filled balloon designed to promote weight loss in obese patients, said investors in the placement include “unaffiliated institutional investors, members of the Company’s management team and […]
Obalon touts gas-filled gastric balloon after FDA notice of deaths related to liquid-filled balloons
Obalon Therapeutics (NSDQ:OBLN) today touted that it has never received a report of a death related to the use of its Obalon six-month gas-filled gastric balloon system designed to aid in weight loss in light of a recent FDA notice warning of five deaths related to liquid-filled gastric balloon systems. The San Diego-based company clarified that […]
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 […]
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. […]
MassDevice Network
@MassDevice
LinkedIn
YouTube