Yesterday, the medical technology company Obalon Therapeutics, Inc. (NASDAQ: OBLN) has seen its stock price rising 48.87% in extended trading. During the regular session, the stock came uprising 18% to close the trading at $3.54. Investors’ sentiment is likely to rise in anticipation of the company releasing its quarterly results this week. However, there was no news directly linked to the company that could accelerate such a move.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
Thus, in this case, a look at the previous quarter’s results could provide us with an idea of what to expect from the company in the current period.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Read More
- Underdog Growth Stocks You Should Keep an Eye on in 2021
- Are You Looking for Dividend Paying Stocks? Here are the Best Buys in 2021
The San Diego-based Obalon Therapeutics was founded to develop as well as commercialize innovative technologies and new solutions to lose weight. Being an integrated medical technology company, it has developed a gas-filled intra-gastric balloon product which is the first and only FDA-approved system for treating obesity.
The financial performance of Obalon in its most recent quarterly results was as follows:
- Total revenue of $44,000 was generated in the third quarter of 2020, compared to $0.3 million of revenue generated by the company in the same quarter of 2019.
- Net loss for that quarter was -$1.6 million, compared to -$3.7 million in the corresponding quarter of 2019.
- It was a per-share loss of -$0.20, compared to a per-share loss of -$0.61 in the same quarter a year ago.
- The Company had approximately $5.5 million in cash and cash equivalents and $0.4 million of debt about its Payroll Protection Program loan at the end of that quarter, i.e. September 30, 2020.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
In addition to exploring and evaluating opportunities to receive reimbursement from third parties for the Obalon Balloon System, the Company at the time was intending to explore and evaluating financial alternatives to help meet its capital needs and key strategic alternatives in efforts to enhance its value for the stockholder.
