Financial Data and Key Metrics Changes - Revenue for Q2 2024 totaled $2 million, a decrease of $300,000 compared to Q2 2023, while revenue for the first half of 2024 was $3.9 million, down $600,000 from the same period in 2023 [10] - Gross profit for Q2 2024 was $1.1 million, slightly below $1.2 million in Q2 2023, but gross profit margin increased to 58% from 53% year-over-year [11] - Non-GAAP adjusted EBITDA loss was $1.9 million for Q2 2024, compared to a loss of $3.7 million in the same period last year, indicating improved cost management [14] Business Line Data and Key Metrics Changes - The company achieved a 45% reduction in overall operating costs for the first half of 2024 compared to the same period last year, contributing to stabilized gross profit margins despite lower sales [4][9] - Sales and marketing expenses decreased by $1.5 million to $700,000 in Q2 2024, primarily due to a shift to targeted digital marketing campaigns [12] - Research and development expenses for Q2 2024 decreased to $400,000 from $600,000 in the prior year, reflecting a pause in clinical trial work to conserve cash [14] Market Data and Key Metrics Changes - The adoption of GLP-1 receptor agonists has negatively impacted sales volume, but the company believes the market opportunity for the LAP-Band will increase over time due to low long-term tolerability of GLP-1s [5][6] - The stigma around obesity treatment has diminished, leading to an expected increase in individuals seeking medical intervention, particularly from bariatric surgeons [6] Company Strategy and Development Direction - The company is focused on stabilizing revenues and executing a cost reduction plan while preparing for the commercial launch of the LAP-Band 2.0 Flex [4] - A merger with Vyome Therapeutics is anticipated to create significant shareholder value and capitalize on the combined entity's potential [7][21] - The new entity will be named Vyome Holdings, Inc., reflecting a strategy to build multiple accretive assets and leverage the U.S.-India innovation corridor [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the merger with Vyome and the asset sale to Biorad, viewing these as opportunities to enhance shareholder value [21] - The company is confident in its ability to self-fund into the second half of 2025, with plans to deploy raised capital to unlock value in its pipeline of immuno-inflammatory assets [20] Other Important Information - The asset purchase agreement with Biorad is valued at $5.16 million, which will help pay down costs associated with the Vyome transaction [8] - The company ended the quarter with net working capital of approximately $2.9 million and remains debt-free [15] Q&A Session Summary Question: What are the expectations for the merger with Vyome? - Management highlighted the merger as a significant opportunity for shareholders, aiming to maximize value through the combined entity's potential [21]

IRVINE, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced that it will report its financial results for the second quarter ended June 30, 2024, including a corporate update on Wednesday, August 14, 2024, after market. Management will host a conference call on August 15 at 4:30 pm ET, and will be joined by Krishna K. Gupta, a current Director of Vyome Therapeutics, who will be appoi ...

CAMBRIDGE, Mass., July 09, 2024 (GLOBE NEWSWIRE) -- Vyome Therapeutics, a clinical-stage healthcare company targeting immuno-inflammatory and rare diseases in the US and global markets with large market potential, announced today that it has signed a merger agreement with ReShape Lifesciences (NASDAQ:RSLS). Upon closing, it is anticipated that the post-merger entity, will be renamed Vyome Holdings, Inc., and continue to have its common stock traded on Nasdaq under the new ticker symbol "HIND", an ancient na ...

ReShape and Vyome, a Clinical Stage Specialty Pharmaceutical Company Working To Treat ImmunoInflammatory Diseases of Unmet Need, to Combine in All-Stock Merger ReShape to Sell its Assets to Affiliate of Biorad Medisys for $5.16 Million Simultaneously with the execution of the merger agreement, ReShape entered into an asset purchase agreement with Biorad Medisys, Pvt. Ltd., which is party to a previously disclosed exclusive license agreement with ReShape for ReShape's Obalon® Gastric Balloon System. Pursuant ...

ReShape and Vyome, a Clinical Stage Specialty Pharmaceutical Company Working To Treat ImmunoInflammatory Diseases of Unmet Need, to Combine in All-Stock Merger Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of both companies, existing ReShape stockholders will own approximately 11.1% of the combined company immediately following the closing of the merger, subject to adjustment based on ReShape's actual net cash at closing compared to a target net cash ...

Exhibit 99.1 ReShape Lifesciences® Reports First Quarter Ended March 31, 2024 Financial Results and Provides Corporate Update Revenue totaled $1.9 million for the three months ended March 31, 2024, which represents a contraction of 15.0%, or $0.3 million compared to the same period in 2023. The primary reason is due to a decrease in sales volume primarily due to GLP-1 pharmaceuticals. Commercial Launch of Next-Generation Lap-Band® 2.0 FLEX Continues Significant Reduction in Overall Operating Expenses of 51% ...

ReShape Lifesciences, Inc. (NASDAQ:RSLS) Q1 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Michael Miller - Investor Relatons Paul Hickey - President, CEO & Director Thomas Stankovich - CFO Conference Call Participants Operator Good afternoon, and thank you for joining the ReShape Lifesciences First Quarter 2024 Conference Call. I would like to turn the call over to Michael Miller from Rx Communications. Michael Miller Good afternoon, and thank you for joining the first quarter 2 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-37897 RESHAPE LIFESCIENCES INC. (Exact name of registrant as specified in its charter) Delaware 26-1828101 (State or other ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) | | | For the fiscal year ended December 31, 2023 or ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-37897 RESHAPE LIFESCIENCES INC. (Exact name of registrant as specified in its charter) Delaware 26-1828101 (State or other jurisdiction of incorporation or organization) (IRS Employer Identificatio ...

ReShape Lifesciences Inc. (NASDAQ:RSLS) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Michael Miller - Rx Communications Paul Hickey - President & Chief Executive Officer Caroline Apovian - Member-ReShape Scientific Advisory Tom Stankovich - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group. Operator Good afternoon and thanks for joining the ReShape Lifesciences Third Quarter 2023 Conference Call. I would now like to turn the call over to ...