Home Equities Score Obalon Therapeutics, Inc. (OBLN) Stock Skyrockets after Class-Action Lawsuit Controversy Dies Down

Obalon Therapeutics, Inc. (OBLN) Stock Skyrockets after Class-Action Lawsuit Controversy Dies Down

Obalon Therapeutics, Inc. (OBLN) stock prices skyrocketed by 30.45% as of the market closing on May 10th, 2021, bringing the price per share up to USD$2.87 at the end of the trading day.

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

OBLN’s Merger with ReShape

November 10th, 2020 saw the pioneer of the FDA-approved balloon system for obesity treatment announce that it had signed into a non-binding term sheet to merge with ReShape Lifesciences, Inc. A definitive agreement was signed into 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

Fourth-quarter revenues for the fiscal year 2020 were reporte at USD$0.1 million, down from the UDS$0.8 million reported for the same time period of the previous year. The decrease is primarily attributable to the indefinite suspension of operations in the second quarter of the fiscal year 2020. Net loss for Q4 2020 was reported at USD$1.3 million down from the USD$4.9 million reporte in the fourth quarter of 2019. Net loss per share for Q4 2020 was USD40.17, a vast improvement on the USD$.64 net loss per share reorted for Q4 2019.

Expenses and Gross Profits

The fourth quarter of the fiscal year 2020 saw OBLN fail to report any cost of revenue, 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

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...

CbdMD Inc. (YCBD) stock gains during after-market, given no recent update

CbdMD Inc. (NASDAQ: YCBD) stock soars by 5.43% in the after-hours trading session. CbdMD, Inc. is one of the most well-known and reputable cannabidiol...

UXIN stock declines during current market trading. What’s driving it low?

Uxin Ltd. (NASDAQ: UXIN) stock declines by 3.41% during current market trading. In China, Uxin Limited is a prominent online used vehicle dealer with...

Synthetic Biologics Inc. (SYN) stock plunged during pre-market. Here’s what you should know?

Synthetic Biologics Inc. (NASDAQ: SYN) stock gained by 8.09% at last close whereas the SYN stock price declines by 0.54% in the pre-market trading....

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