Home Top Movers Obalon Therapeutics, Inc. (OBLN) Stock Undergoes Volatility as Pandemic Regulations Relaxed

Obalon Therapeutics, Inc. (OBLN) Stock Undergoes Volatility as Pandemic Regulations Relaxed

Obalon Therapeutics, Inc. (OBLN) stock prices were down by 15.13% as of the market closing on May 6th, 2021, bringing the price per share down to USD$2.02. Subsequent pre-market fluctuations have seen the stock rally by 9.90%, bringing it up to UD$2.22.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Merger with ReShape Lifesciences

The pioneer of the FDA-approved balloon system of treatment for obesity announced on November 10th, 2020 that it had signed a non-binding term sheet to merge with ReShape Lifesciences Inc. A definitive agreement was signed on January 19th, 2021 for OBLN’s merger with ReShape Lifesciences.


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

Revenues and Net Loss

Revenues for the fourth quarter of 2020 were USD$0.1 million, down from the USD$0.8 million reported for the comparative quarter of the prior year. The decrease is primarily attributable to Q2 2020 having seen the indefinite suspension of operations. Net loss for Q4 2020 was reported at USD$1.3 million, down from the USD$4.9 million reported in the fourth quarter of 2019. Net loss per share for Q4 2020 was USD$0.17, a vast improvement on the USD$0.64 net loss reported for Q4 2019.

Expenses and Gross Profits

The company did not report any cost of revenue for the fourth quarter of 2020, whereas Q4 2019 had reported USD$0.6 million in expenses derived from the generation of revenue. Gross profits were down to USD$0.01 million in Q4 2020 as compared to the USD$0.2 million reported in the fourth quarter of the fiscal year 2019.

R&D and Peripheral Costs

Research and Development costs for the last quarter of 2020 were USD$0.2 million, down from the USD$1.5 million reported in the fourth quarter of the year prior. Selling, General, and Administrative costs were also down, from USD$3.6 million in Q4 2019 to USD$1.2 million in the fourth quarter of 2020. Operating loss for Q4 2020 was USD$1.4 million, down from USD$5 million in Q4 2019.

Solid Liquidity Position

OBLN reported having cash and cash equivalents in the amount of USD$3.9 million as of December 31st, 2020. With the ravaging of global economies by the prolonged Covid-19 pandemic, the U.S. government launched its Payroll Protection Program which serves to safeguard employment rates by subsidizing payroll costs. OBLN took advantage of this program and, consequently, had USD$0.4 million in debt related to its PPP loan.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Future Outlook for OBLN

As economies start to slowly recover from the attritional damaged incurred since the onset of the global pandemic, OBLN has focused on staying afloat while strategizing for future profitability in a post-pandemic market. Having shown improvement in some key areas across their financial reports, the company is poised to leverage its solid liquidity position to usher in sustained and significant increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

IT Tech Packaging Inc. (ITP) stock gains during pre-market. Here’s what’s happening?

IT Tech Packaging Inc. (NASDAQ: ITP) stock gained by 7.53% at last close while the ITP stock price rises by 2.04% in the pre-market...

Why did The9 Limited (NCTY) stock turnaround in the after-hours on Friday?

The9 Limited (NCTY) shares gained 6.87% in after-hours on Friday, July 30, 2021, and closed the weekly trading at $11.98 per share. in the...

Energous Corporation Inc. (WATT) stock declines during after-market. Here’s to know why?

Energous Corporation Inc. (WATT) stock gained by 7.05% at last close whereas the WATT stock price plunged by 7.82% in the after-hours trading session....

AMAZON Inc. (AMZN) stock fell during after-market. Here’s the update

Amazon Inc. (NASDAQ: AMZN) stock plunged by 0.84% at last close however moving ahead the AMZAN share price also declines by 7.44% in the...

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Best Inc. (BEST) stock gains during current market. Here’s the update?

Best Inc. (NASDAQ: BEST) stock rises by 5.45% during the current market. BEST Inc. is a prominent Chinese supplier of comprehensive smart supply chain...

Dolphin Entertainment Inc. (DLPN) stock rises during current market. Let’s find out why?

Dolphin Entertainment Inc. (NASDAQ: DLPN) stock gains by 17.47% to $9.21 today in the current market trading. Dolphin Entertainment is a leading independent entertainment...

General Electric Company Inc. (GE) stock sky-rocketing during pre-market. Here’s what you should know

General Electric Company Inc. (NASDAQ: GE) stock plunged by 2.56% at last close whereas the GE stock price surged massively during pre-market by 704.32%....

Related News

General Electric Company Inc. (GE) stock sky-rocketing during pre-market. Here’s what you should know

General Electric Company Inc. (NASDAQ: GE) stock plunged by 2.56% at last close whereas the GE stock price surged massively during pre-market by 704.32%....

Here is why GreenSky Inc. (GSKY) shares went up on Friday?

GreenSky Inc. (GSKY) shares were jumped 5.63% in after-hours on Friday, July 30, 2021, and closed the weekly trading at $6.94 per share. in...

Here is why OPKO Health Inc. (OPK) stock plunged on Thursday?

OPKO Health Inc. (OPK) shares lost 7.24% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $3.46 per share. in...

Why Electrameccanica Vehicles Corp. (SOLO) stock performed well on Wednesday?

Electrameccanica Vehicles Corp. (SOLO) shares gained 5.71% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $3.70 per share. in...

Encore Wire Corporation Inc. (WIRE) stock surges during current market. Here’s to know why?

Encore Wire Corporation Inc. (NASDAQ: WIRE) stock gained by 11.10% in the current market trading session. Encore Wire Corporation is a prominent manufacturer of...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam