ReShape Lifesciences Inc
NASDAQ:RSLS
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ReShape Lifesciences Inc
ReShape Lifesciences, Inc. operates as a medical device company, which focuses on technology to treat obesity and metabolic diseases. The company is headquartered in San Clemente, California and currently employs 47 full-time employees. The company went IPO on 2016-10-06. The firm is focused on offering an integrated portfolio of products and services that manage and treat obesity and metabolic disease. Its Lap-Band and associated program provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The ReShape Vest System is an investigational minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery. The ReShapeCare Virtual health coaching program is a virtual telehealth weight management program that supports lifestyle changes for all weight-loss patients, to help them keep the weight off over time. The firm's Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kilograms/ square meter.
ReShape Lifesciences, Inc. operates as a medical device company, which focuses on technology to treat obesity and metabolic diseases. The company is headquartered in San Clemente, California and currently employs 47 full-time employees. The company went IPO on 2016-10-06. The firm is focused on offering an integrated portfolio of products and services that manage and treat obesity and metabolic disease. Its Lap-Band and associated program provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The ReShape Vest System is an investigational minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery. The ReShapeCare Virtual health coaching program is a virtual telehealth weight management program that supports lifestyle changes for all weight-loss patients, to help them keep the weight off over time. The firm's Obalon Balloon System is intended for adults with a body mass index (BMI) of 30 to 40 kilograms/ square meter.
Revenue Growth: ReShape Lifesciences reported its third consecutive quarter of sequential revenue growth, with Q3 revenue rising 16.6% over Q2 and 6.4% over the prior year.
Cost Reduction: The company achieved over 40% lower operating expenses for the first nine months of 2024 versus last year, supporting improved gross margins and profitability.
Lap-Band 2.0 Launch: The early launch phase of the physician-led Lap-Band 2.0 FLEX was completed with positive initial surgeon feedback and Health Canada approval secured in Q3.
NIH Grant Success: ReShape received a $241,000 supplemental NIH grant, bringing total NIH funding for its diabetes device program to $1.15 million.
Merger & Asset Sale: The company announced a merger agreement with Vyome Therapeutics and an asset sale to Biorad for $5.16 million, both expected to drive shareholder value.
NASDAQ Compliance: The company regained NASDAQ compliance following a 1-for-58 reverse stock split.
Vyome Vision: Vyome outlined its focus on biopharma, medical devices, and AI, emphasizing opportunities in the US-India healthcare corridor and value creation from rare disease therapies.
