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ReShape Lifesciences (RSLS) - Prospectus
2023-01-12 22:07
Table of Contents As filed with the U.S. Securities and Exchange Commission on January 12, 2023 Registration Statement No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 RESHAPE LIFESCIENCES INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 3841 26-1828101 (I.R.S. Employer Iden ...
ReShape Lifesciences (RSLS) - 2022 Q3 - Quarterly Report
2022-11-14 22:23
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 September 30, 2022 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) (State or other jurisdiction of ...
ReShape Lifesciences (RSLS) - 2022 Q3 - Earnings Call Transcript
2022-11-14 17:52
ReShape Lifesciences Inc. (NASDAQ:RSLS) Q3 2022 Earnings Conference Call November 14, 2022 8:00 AM ET Company Participants Paula Schwartz - Managing Director-Rx Communications Group Paul Hickey - President & Chief Executive Officer Thomas Stankovich - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Ben Haynor - AGP Operator Good morning and thank you for joining the ReShape Lifesciences Third Quarter 2022 Conference Call. I would now like to turn the call over to Paula Schwartz ...
ReShape Lifesciences (RSLS) - 2022 Q2 - Quarterly Report
2022-08-19 21:17
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 June 30, 2022 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. Indicate by check mark whether the registrant (1) has filed all reports required to be file ...
ReShape Lifesciences (RSLS) - 2022 Q2 - Earnings Call Transcript
2022-08-16 00:17
ReShape Lifesciences Inc. (NASDAQ:RSLS) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Michael Miller - Rx Communications, Investor Relations Paul Hickey - President and Chief Executive Officer Tom Stankovich - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group Operator Good afternoon. Thank you for joining the ReShape Lifesciences Second Quarter 2022 Conference Call. I would like to turn the call over to Michael Miller from Rx Communication ...
ReShape Lifesciences (RSLS) - 2022 Q1 - Quarterly Report
2022-05-23 19:13
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, 2022 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 ...
ReShape Lifesciences (RSLS) - 2022 Q1 - Earnings Call Transcript
2022-05-23 15:22
ReShape Lifesciences Inc. (NASDAQ:RSLS) Q1 2022 Earnings Conference Call May 23, 2022 8:30 AM ET Company Participants Michael Miller - Rx Communications, Investor Relations Bart Bandy - President and Chief Executive Officer Tom Stankovich - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to the ReShape Lifesciences First Quarter 2022 Earnings Webcast. I would now like to hand the conference over to Michael Miller of Rx Communications. Please go a ...
ReShape Lifesciences (RSLS) - 2021 Q4 - Annual Report
2022-04-08 21:10
Financial Performance - Revenue for the year ended December 31, 2021, was $13.6 million, a 20.4% increase from $11.3 million in 2020, primarily driven by a $2.0 million increase in U.S. sales [292]. - Gross profit increased to $8.3 million in 2021, up 33.3% from $6.3 million in 2020, with a gross profit margin of 61.4% compared to 55.4% in the prior year [295]. - The company reported a net loss of $61.9 million for 2021, compared to a net loss of $21.6 million in 2020, reflecting a significant increase in losses [284]. - Adjusted EBITDA for 2021 was reported as a non-GAAP loss of $10.6 million, compared to a non-GAAP loss of $9.1 million in 2020 [291]. - Comprehensive loss for 2021 was $61,904,000, up from $21,743,000 in 2020, indicating a significant increase in overall financial losses [354]. - The net loss for the year ended December 31, 2021, was $61,933,000, compared to a net loss of $21,630,000 for 2020, representing an increase of 186% [354]. Operating Expenses - Total operating expenses rose to $64.8 million in 2021, a 246.4% increase from $18.7 million in 2020, largely due to a $28.8 million impairment charge and increased stock-based compensation [296]. - Sales and marketing expenses surged to $9.2 million in 2021, a 95.2% increase from $4.7 million in 2020, as the company focused on brand recognition and marketing strategies [296]. - General and administrative expenses rose by $13.9 million, or 131.9%, to $24.4 million for the year ended December 31, 2021, driven by an $8.9 million increase in stock-based compensation [298]. - Research and development expenses decreased by $1.0 million, or 27.9%, to $2.5 million for the year ended December 31, 2021, mainly due to a $2.2 million reduction in consulting and clinical trial expenses [300]. Cash Flow and Liquidity - Net cash used in operating activities was $15.4 million for the year ended December 31, 2021, primarily resulting from a net loss of $61.9 million [310]. - Cash and cash equivalents increased to $22.77 million as of December 31, 2021, compared to $2.96 million at the end of 2020 [348]. - Total current assets rose to $30.26 million in 2021, up from $8.94 million in 2020, reflecting improved liquidity [348]. - The Company’s accumulated deficit increased to $576.76 million as of December 31, 2021, from $514.83 million in the prior year [348]. - Cash used in operating activities for 2021 was $15,375,000, compared to $8,550,000 in 2020, reflecting an 80% increase in cash outflow [360]. Mergers and Acquisitions - The merger with Obalon was completed on June 15, 2021, resulting in a name change and the company beginning to trade on Nasdaq [279]. - The acquisition of Obalon Therapeutics, Inc. was completed for a purchase price of $30.6 million, with a developed technology asset recorded at $2.73 million [339]. - The total purchase price for the acquisition was $30.562 million, net of cash acquired, resulting in a net purchase price of $25.355 million [468]. - Goodwill recorded from the acquisition amounted to $21.566 million, which includes expected synergies and benefits [470]. - For the period from June 16, 2021, to December 31, 2021, the acquired entity Obalon contributed no revenue and incurred a net loss of $2.0 million, alongside a $21.6 million loss on impairment of goodwill [471]. Future Plans and Strategy - Future plans include expanding sales domestically and internationally, ramping up marketing efforts, and continuing clinical trials for the ReShape Vest [317]. - The company plans to expand sales of the Lap-Band product line domestically and internationally and continue clinical testing of the ReShape Vest [428]. - The company expects to leverage its intellectual property portfolio for third-party sales and licensing opportunities [428]. Inventory and Assets - Total inventory increased to $3.003 million as of December 31, 2021, compared to $2.244 million in 2020, with finished goods rising to $1.492 million from $1.337 million [436]. - The allowance for excess and slow-moving inventory was $0.8 million at December 31, 2021, compared to $0.1 million in 2020, indicating a substantial increase in inventory reserves [382]. - The Company recorded advertising costs of $3.0 million for the year ended December 31, 2021, up from $0.5 million in 2020, reflecting increased marketing efforts [403]. Stockholder Equity and Debt - Stockholders' equity grew to $46.07 million in 2021, compared to $14.49 million in 2020, indicating a stronger capital position [348]. - As of December 31, 2021, total debt was reported as $13.322 million, with no asset purchase consideration payable remaining [447]. - The Company received a $1.0 million PPP loan under the CARES Act, which was fully forgiven as of March 1, 2021 [449]. Impairment Charges - The company incurred impairment charges totaling $28.8 million during the year ended December 31, 2021, including a goodwill impairment charge of $21.6 million [301]. - A one-time impairment charge of $7.2 million was recorded for IPR&D due to delays in clinical trials and revised revenue expectations for the ReShape Vest, with a discount rate of 21.7% used in the fair value estimation [442]. - The Company recognized an impairment charge of $7.2 million for in-process research and development (IPR&D) assets during the year [342].
ReShape Lifesciences (RSLS) - 2021 Q4 - Earnings Call Transcript
2022-03-29 03:59
ReShape Lifesciences Inc. (NASDAQ:RSLS) Q4 2021 Earnings Conference Call March 28, 2022 5:30 PM ET Company Representatives Bart Bandy - Chief Executive Officer Tom Stankovich - Chief Financial Officer Michael Miller - Rx Communications, Investor Relations Conference Call Participants Anthony Vendetti - Maxim Group Ben Haynor - Alliance Global Partners Operator Ladies and gentlemen, thank you for standing by, and welcome to the ReShape Lifesciences Fourth Quarter 2021 Earnings Conference Call. At this time a ...
ReShape Lifesciences (RSLS) Investor Presentation - Slideshow
2021-12-18 06:09
Market Overview - The virtual healthcare delivery market is projected to reach $95 billion worldwide by 2026, with $77 billion in the U S [27] - The bariatric surgical device market is projected to reach $2 8 billion worldwide by 2025, with $1 8 billion in the U S [27] - The global weight loss and obesity management market is expected to reach an estimated value of $300 billion with a CAGR of 6 70% from 2019-2026 [28] - Over 30% of the global population, or 2 5 billion people, are considered overweight or obese, with a projected increase to 50% by 2030 [27] Company Strategy & Products - The company targets 100% of the largest market segment (BMI 27-40+) with physician-led weight loss solutions [100] - The company operates a unique weight loss ecosystem that provides more revenue-producing pathways [102] - The company leverages a proprietary, reimbursed telehealth counseling platform as a key element of its patient engagement and retention strategy [102] - The company's virtual coaching program resulted in patients losing 7 7% of their total body weight, compared to 3 4% for those who didn't use virtual coaching [43] - The Lap-Band program has seen over 1 million devices safely implanted by 650+ physicians worldwide [47] Financial Performance - Q3 revenues were $3 7 million compared to $3 6 million in 2020, and 9-month revenues were $10 5 million compared to $8 1 million [92] - The company achieved a solid gross profit margin of approximately 70% in the U S [89] - The company completed a fund raise totaling $46 2 million on June 30 [91]