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Obalon Therapeutics Inc. (NASDAQ: OBLN) stock declines during pre-market. What is happening?

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Obalon Therapeutics Inc. (NASDAQ: OBLN) stock gained by 22.03% at the last close whereas the OBLN stock price falls by 2.08% in the pre-market session. Obalon Therapeutics Inc. based in San Diego-based is a company that focuses on making and commercializing novel technologies for weight loss.

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Recent Update

OBLN announced that the special shareholders meeting for Obalon Stockholders scheduled for May 13, 2021, was called off due to a lack of quorum and was rescheduled for Tuesday, May 25, 2021, at 8:30 a.m. PT to give stockholders sufficient time to vote.

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Despite the number of shares they own, all shareholders are motivated to vote prior to the Special Meeting in order to get their views heard on this critical issue affecting their vested interests. A quorum for the Special Meeting must be present or reflected by proxy if a majority of the voting power of the shares of OBLN stock eligible to vote is present.

Financial Results

On May 12, 2021, Obalon Therapeutics announced its first quarter 2021 financial results. Given below is the summary.

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