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
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 […]
ReShape touts efficacy, safety of weight loss products in multi-study presentations
ReShape Lifesciences (NSDQ:RSLS), formerly known as EnteroMedics, this week presented data from three of its technologies designed to treat obesity and metabolic diseases, touting the safety and efficacy of its products. Data on the San Clemente, Calif.-based company’s three technologies was presented at the ObesityWeek 2017 conference in Washington D.C. this week. “Obesity has become […]
EnteroMedics rebrands as ReShape Lifesciences
EnteroMedics (NSDQ:ETRM) said today it is rebranding under the moniker ReShape Lifesciences, shifting its NASDAQ ticker to “RSLS”. The move comes after the St. Paul, Minn.-based company acquired ReShape Medical earlier this month for $38 million, along with its ReShape integrated dual balloon system designed to facilitate weight loss in obese adult patients. The new name […]
EnteroMedics acquires ReShape Medical in $38m cash-and-stock deal
EnteroMedics (NSDQ:ETRM) said today that it acquired ReShape Medical in a cash-and-stock deal worth about $38 million. The deal called for St. Paul, Minn.-based EnteroMedics to pay $5 million in cash, plus 2.4 million shares of stock and nearly 188,000 series C convertible shares. At yesterday’s closing price of $1.79 per ETRM share, the stock shares […]
Deaths prompt renewed FDA warning on intragastric balloons
UPDATED August 15, 2017, with comment from ReShape Medical. The FDA yesterday updated its warning of the risks associated with fluid-filled intragastric balloons after receiving new reports of the deaths of patients implanted with the devices. Intragastric balloons, made by Apollo Endosurgery (NSDQ:APEN) and ReShape Medical, are used to treat obesity. Placed in the stomach orally in a minimally […]