ReShape Lifesciences (NSDQ:RSLS) said yesterday that its prez & CEO Dan Gladney will resign from his positions with the company, effective March 31. Gladney will remain with the company as board chair, San Clemente, Calif.-based ReShape Lifesciences said. The company’s board of directors said they will immediately begin to look for a replacement, according to an […]
Apollo Endosurgery deals Lap-Band to ReShape Lifesciences for up to $17m
Apollo Endosurgery (NSDQ:APEN) said today that it dealt its Lap-Band gastric banding device to ReShape Lifesciences (NSDQ:RSLS) in return for up to $17 million and ReShape’s intra-gastric balloon, which Apollo plans to eventually discontinue. Austin, Texas-based Apollo said the exchange closed yesterday with $10 million in cash and the balloon from ReShape. Further payments of $2 […]
Reshape Lifesciences settles with institutional investors for $700K
Just days after it announced that it had raised $10 million in a registered direct offering, ReShape Lifesciences (NSDQ:RSLS) disclosed in a regulatory filing that it’s paying $350,000 to each of the two institutional investors involved. The U.S. Securities and Exchange Commission filing, dated yesterday, said the money settles a dispute that arose prior to the closing […]
ReShape Lifesciences shares plunge on Q2 release, withdrawn offering
Shares in ReShape Lifesciences (NSDQ:RSLS) have fell 30% today after the weight loss device maker posted second quarter earnings that missed expectations on Wall Street and announced it terminated plans for an upcoming offering. The San Clemente, Calif.-based company posted losses of $35.3 million, or $14.23 per share, on sales of $653,369 for the three months […]
ReShape Lifesciences raises $3m
ReShape Lifesciences (NSDQ:RSLS) said today it inked a private placement deal worth approximately $2.6 million. The San Clemente, Calif.-based company said it plans to float 1.2 million shares of its common stock at $2.05 per share. The offering also includes unregistered warrants to purchase an additional 1.2 million shares at approximately 13¢ per warrant, which the […]
ReShape Lifesciences raises $2m
ReShape Lifesciences (NSDQ:RSLS) said yesterday it inked approximately $1.5 million in offering deals with a number of institutional investors. The San Clemente, Calif.-based company said it will float 374,572 shares of its common stock at a price of $3.92 per share in the registered direct offerings. ReShape Lifesciences will also issue warrants for the purchase of […]
FDA warns of 5 new deaths from liquid-filled intragastric balloons
Updated to include response from Apollo Endosurgery The FDA today released a notice warning of five new patient deaths related to two liquid-filled intragastric balloon systems used to treat obesity, produced by Apollo Endosurgery (NSDQ:APEN) and ReShape Lifesciences (NSDQ:RSLS). The additional deaths bring the total number of deaths worldwide from the Orbera intragastric balloon and ReShape integrated […]
7 medtech stories we missed this week: May 11, 2018
From ReShape submitting an approval application to Health Canada to Conavi receiving FDA clearance, here are seven medtech stories we missed this week but thought were still worth mentioning. 1. ReShape submits for Health Canada approval of ReShape balloon ReShape announced in a May 10 press release that it has submitted an application to the Medical Devices Bureau […]
7 medtech stories we missed this week: April 27, 2018
From DuPuy Synthes’s spinal implant launch to Lumendi’s FDA clearance, here are seven medtech stories we missed this week but thought were still worth mentioning. 1. DePuy Synthes launches spinal implants DePuy Synthes announced in an April 26 press release that it has launched its Proti 360º integrated titanium family of interbody devices that are designed […]
ReShape Lifesciences raises $6m in private placement
ReShape Lifesciences (NSDQ:RSLS) said today it inked a $6 million private placement of Series D convertible preferred stock and warrants with an institutional investor, with funds slated to support further product development and commercialization. Units of the Series D convertible preferred stock are convertible into an aggregate of 8 million shares of common stock at a […]
ReShape Lifesciences looks to cut monthly expenses by 25%
ReShape Lifesciences (NSDQ:RSLS) said on Tuesday it plans to cut operating expenses by roughly 25%. The San Clemente, Calif.-based company said the cut will reduce its monthly cash burn to $1.8 million, down from earlier guidance which expected expenditures of $2.5 million per month. ReShape Lifesciences said it is also reviewing its ReShape product line and […]
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