No news or filings is issued, so it will be fascinating to see how on Thursday, December 3, 2020, the week begins for the stock of Obalon Therapeutics Inc (OBLN), despite the pre-market plunge.
On November 6, 2020, the company posted financial reports for the third quarter ended 30 September 2020 have been released.
Revenue was $44,000 for the third quarter of 2020, compared to $0.3 million for the third quarter of 2019, with the decline largely attributed to the termination of activities in the second quarter of 2020. The net loss was $1.6 million for the Q3 of 2020, compared to $3.7 million for the Q3 of 2019. For the reported period, the net loss per share was $ 0.20, compared with $ 0.61 year over year.
The cost of sales was $41,000, down from $0.4 million for the Q3 of 2019. Compared with a cumulative loss of $0.1 million for the Q3 of 2019, gross profit for the Q3 of 2020 was $3,000.
Research and development expenses totaled $0.3 million, down from $1.2 million for the third quarter of 2019. For the third quarter of 2020, marketing, general and administrative costs reduced to $1.3 million, relative to $2.5 million for the third quarter of 2019.