ReShape Lifesciences Inc. (RSLS) stock prices were down by 7.64% as of the market closing on June 18th, 2021, bringing the price per share down to USD$5.44 at the end of the trading day. Subsequent pre-market fluctuations have seen the stick climb by 2.02%, bringing it up to USD$5.55.
Merger with Obalon
June 16th, 2021 saw the company announce the completion of its previously announced merger with Obalon Therapeutics, after which Obalon changed its name to ReShape Lifesciences Inc. The combined company’s stock name began trading under the ticker symbol on the Nasdaq Capital Market beginning on June 16th, 2021.
Regaining of Nasdaq Listing
Having regained the Nasdaq listing requirements, the company is situated to take advantage of the new numerous benefits that come with being listed on the Nasdaq. This includes the chance to increase shareholder value and the expanded visibility in the wider investment community. The completion and reaching of this significant milestone are representative of a pivotal moment in the company’s lifecycle.
Company Priorities
The completion of the merger signals the strengthening of the company’s ability to allocate resources towards growth priorities. These priorities include global commercial operations, the integration from this transaction, and the company’s internal technologies that are currently in development. The company is poised to capitalize on its expanded opportunities to be an elite and diversified leader in the physical led weight loss space. The company is dedicated to facilitating a better quality of life for its patients through safe, effective, and accessible medical treatment.
Leadership Team
After the closing of the merger, the combined company’s Board of Directors is comprised of five current members of the Board of Directors of Reshape. The current executive officers of Reshape will continue on to be executive officers of the combined company. ReShape shareholder went on to own 51% of the combined company’s stock after the merger, while the other 49% was held by Obalon stockholders.
Scope of RSLS
The premier weight-loss solutions company as an impressive integrated catalogue of proven products and services that are designed to manage and treat obesity and metabolic disease. The Lap-Band has been approved by the FDA and provides minimally invasive, long-term treatment of obesity. The program is an alternative to surgical stapling procedures that are much more invasive, such as gastric bypass and sleeve gastrectomy.
Future Outlook for RSLS
Armed with the expanded resources offered to it by its recent merger, the company is poised to continue its trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
