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
Whistleblower allegations cause Obalon to spike $35m offering
Obalon Therapeutics (NSDQ:OBLN) said today it is terminating a $35 million offering after a whistleblower contacted the company’s independent auditors, KPMG LLP, with allegations of improper revenue recognition during its fourth quarter. The San Diego, Calif.-based company priced the round last week, which was slated to close today, looking to offer 5.5 million shares at $5.50 […]
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 […]
RTI Surgical taps director for CFO, fills out roster | Personnel Moves, Sept. 19, 2017
RTI Surgical (NSDQ:RTIX) said yesterday that it’s tapping a board member to be CFO and adding a pair of medical device veterans to its executive roster. Alachua, Fla.-based RTI said it named director Jonathon Singer as its finance & administration chief effective Oct. 2, replacing Robert Jordheim. Singer, who resigned his board seat to accept […]
7 medtech stories we missed this week: May 12, 2017
From Bioness’s new distribution deal to InBrace’s launch of new braces technology, here are 7 medtech stories we missed this week but thought were still worth mentioning. 1. Obalon receives approval to commercialize in Middle East Obalon Therapeutics announced in a May 11 press release that it has received regulatory approvals in select Middle East […]
Obalon shares fall after Q1 miss
Shares in Obalon Therapeutics (NSDQ:OBLN) fell today after the medtech company missed expectations on Wall Street with its 1st quarter results. The San Diego-based company posted a net loss of -$7.75 million on sales of $1.47 million for the 3 months ended Dec. 31, for bottom-line loss of -54% on sales growth of 37% compared […]
Obalon logs 1st commercial use of weight loss balloon
Obalon Therapeutics (NSDQ:OBLN) said that it has begun U.S. commercial shipments of its Obalon weight-loss balloon. In September last year, Carlsbad, Calif.-based Obalon won pre-market approval from the FDA for its ingestible, gas-filled weight-loss balloon, with plans to have it on the U.S. market in early 2017. “It is incredibly gratifying to be shipping the Obalon balloon […]
Obalon Therapeutics prices $75m IPO
Obalon Therapeutics yesterday priced its initial public offering at $75 million, in line with the range it set last month. The weight loss device maker said it plans to float 5 million shares at $15 apiece, trading on the NASDAQ exchange under the “OBLN” symbol. Carlsbad, Calif.-based Obalon won pre-market approval from the FDA last month for its ingestible, gas-filled […]
Obalon Therapeutics sets terms for $75m IPO
Obalon Therapeutics today set the terms for its forthcoming initial public offering, saying it plans to float 5 million shares at $14 to $16 apiece. At the midpoint, the weight loss device maker’s IPO would fetch $75 million. Carlsbad, Calif.-based Obalon won pre-market approval from the FDA earlier this month for its ingestible, gas-filled weight-loss balloon and plans to […]
Obalon Therapeutics reveals PMA for weight-loss balloon with $75m IPO registration
UPDATED Sept. 12, 2016, with comment on PMA from Obalon. Obalon Therapeutics today registered for an initial public offering worth as much as $75 million, revealing in the process that it won pre-market approval from the FDA for its ingestible, gas-filled weight-loss balloon and plans to have it on the U.S. market in early 2017. Carlsbad, Calif.-based […]