Obalon Therapeutics, Inc. (OBLN)

[powerbattles]

DANM I flipped way too early!

[easymoney]

Obln nailed it $3

[TheFinalCD]

like EVK

unsubstantiated big move

[easymoney]

Will probably hit $3 Monday am.

[powerbattles]

LOL:)) I miss understand you. I thought you said they has no website.
I see nothing no news that make the stock spike up higher.

[Oger]

They are filing Bk.

[TheFinalCD]

https://www.mddionline.com/implants/obalon-cuts-half-its-staff-restructuring

[TheFinalCD]

lol thats not news


I already posted their website


did you see any news

[powerbattles]

https://www.obalon.com/

[TheFinalCD]

thx for the heads up brother, finshizzle doesnt have the news,and its not even on their own website so if you have it post it please= https://www.finviz.com/quote.ashx?t=OBLN

https://investor.obalon.com/press-releases

[powerbattles]

Obalon Therapeutics on fire after hour.

[morokoy]

Obalon Says Cash Crunch Could Push Company Into Bankruptcy >OBLN
8:46 am ET June 19, 2020 (Dow Jones) Print
By Colin Kellaher

Obalon Therapeutics Inc. on Friday warned that it may need to liquidate or seek bankruptcy protection amid dwindling resources.

The Carlsbad, Calif., company, which develops medical devices to treat obesity, said it only has enough cash and equivalents on hand to fund its operations through the end of the year and that it has thus far been unable to identify a viable alternative for capital raising.

Obalon in March closed its two retail treatment centers and halted manufacturing operations amid disruptions sparked by the coronavirus pandemic.

The company on Friday said that due to significant concerns about an economic recovery and the fact that its Obalon Balloon System isn't currently covered by any kind of private or public health insurance, it doesn't currently plan to reopen the treatment centers or to ship orders to U.S. customers or its former international distributor.

As a result, Obalon said it doesn't expect to report any meaningful revenue for the foreseeable future.

Obalon said it will continue to explore its strategic alternatives and to seek third-party coverage and reimbursement for its product. It said that if it isn't successful in those efforts, it may need to sell or liquidate all or part of its business or file for bankruptcy protection.

Shares of Obalon, which closed Thursday at $1.07, fell 20% to 86 cents in premarket trading Friday.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

June 19, 2020 08:46 ET (12:46 GMT)

[r clarke]

They do need to move fairly quickly, fast moving sector, lot of stuff coming out to address weight issues.

I think this COVID-19 issue has spotlighted what a high percentage of Americans are overweight, and suffering from weight related conditions.







"I picked some up. I agree they could be a buyout candidate."

[Barrydeep]

I picked some up. I agree they could be a buyout candidate.

[r clarke]

Down 27% today because of losses., etc

Thinking of picking up shares, just in case this gets bought out.

They really need the synergy and resources of a larger company.

... looking back to pps in March and even more tempted to buy some
shares.

... but, this company appears to be on hold for the time being.

not manufacturing, etc



Thoughts?

[ClayTrader]

* * $OBLN Video Chart 05-26-2020 * *

Link to Video - click here to watch the technical chart video

[r clarke]

Up 28% today, but dont see any news.

[europtiger]

Got More 1,13

[europtiger]

Board was not working... got 1,15

[TheFinalCD]

http://investor.obalon.com/press-releases

[europtiger]

Buying

[BluSkies]

NICE!!

[Golden Cross]

Beginning to move here

[ClayTrader]

* * $OBLN Video Chart 04-14-2020 * *

Link to Video - click here to watch the technical chart video

[Golden Cross]

Looking for a nice after-hours move and PM in morning...OBLN

[jackson73]

Patent news...

http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=10,617,545.PN.&OS=PN/10,617,545&RS=PN/10,617,545

https://www.obalon.com

[Awl416]

Couldn’t tell ya lookin at recent 8ks

Bunch of small cap bios flew today

[V1nc3]

$OBLN Obalon Therapeutics granted US patent number 10,617,545 titled "Intragastric device system" https://t.co/Qi3c60nFzF

— Patent_Grants (@Patent_Grants) April 14, 2020

[bleu22]

What’s the news

[Awl416]

Where shall she open after that halt

[DS CPA]

http://investor.obalon.com/news-releases/news-release-details/obalon-engages-canaccord-genuity-explore-financial-and-strategic

Considering this is trading well below 12/31/19 (latest financials) book value, this could be an attractive entry point if a sale were to go through.

Market cap at this level is $5.6m as of the # of O/S shares disclosed on 2/20/20.

At 12/31/19, they have cash of $14m, total assets $20.4m vs. liabilities of $4.5m.

[manofIsle]

.88 cent strike price is comming. Me thinks I should adjust it down to .58 cents. That's my gutz feeling...

[DS CPA]

Their Balance Sheet is a large part of the draw, along with the tech. A buyout would be a dream scenario because I’m not sure how much I believe they can grow this retail model very quickly. The next quarter or two will be very telling.

Regardless, this is laughably mispriced in the meantime. So i do think it will bounce back but I will be curious to see how far and how fast.

[nymostwanted]

Realistically possible $5 with volume if we get partnership or insurance approved $10-25 easy.. also this one is a gem to me only because no debt and they have all signs likely buyout in future so holding ..once price stays above $3 plus I feel more comfortable.

[DS CPA]

That would be big news then, I agree. I like it at this price but I am still trying to figure out how high I think it realistically goes.

[nymostwanted]

Very hard to tell but this one is FDA approved so I assuming within 6 months

[DS CPA]

How soon do you think that will happen?

[nymostwanted]

It can also move on insurance coverage ??

[DS CPA]

I agree. A partnership or a buyout is the golden ticket. Otherwise this could take a while to grow. But regardless of all that, with its current Balance Sheet and its internal IP (not on the Balance Sheet) this company is worth far more than the market cap it is trading at.

There is only about 7.7M in the O/S right now. So that is a market cap of about $10.8M based on a PPS of $1.40 — take a look at their Balance Sheet and see if that makes any sense at all. The reason it drives down so low is because the float is so small.

There are about 3.3M warrants to purchase stock at strike prices in the range of $4 and $5 from last summer’s issuance. Those are all still outstanding. That is about half the O/S worth of warrants that are not just out of the money, they are FAR out of the money. Some of which are held by insiders. Now whether you buy in to incentive making a difference, most can at least agree that insiders and institutions buying the stock + warrants like they did last summer is a pretty good barometer for what this is worth or at least will be worth.

I think those with an average of $5 or more need to get realistic with themselves on whether this will ever be back in the green for them, or at least recognize that it could take so long that it would be easier to recuperate the money elsewhere. But in terms of averaging down or entering at this level, my personal opinion is this is trading very cheaply right now. With that said, I wish the best to the longs and particularly those who were in pre-RS, but just sharing my honest opinion.

[r clarke]

Almost bought at $1.05 during the plunge, but held off since I
didnt have any idea what was going on.

Went right back up.

Oh well, next week should be interesting for the market too.


I think this company really needs to be bought by a larger player that can run with the technology.





"This is an interesting stock because there are so many bagholders locked into huge losses that won’t move on an already small float. We’ve dropped from $1.80 down to a low of $1.03 on about 700k shares traded. That is less than 10% of the O/S moving.

If you are entering now or have a low average already (sub $2) then this still appears to be a great buying opportunity. The market cap is under $10M now and there are countless warrants that are far out of the money (I.e. incentive for insiders). For those with some patience there is money to be made here, in my humble opinion. But this will probably never reach anywhere near what it was at in early 2019."

[conix]

OBLN INVESTMENT HIGHLIGHTS:

*Obesity is one of largest causes of chronic diseases globally - but preventable and reversible

*FDA-approved; Patented; Proprietary Technology

*53+ patents issued World-wide; 79 patents pending

*High levels of potential patient interest

*11 million people have expressed interest in paying for Obalon Balloon Treatment

*Over 160 million Adults are overweight and/or obese in the U.S.

*Average weight loss of over 21 pounds treated with Obalon Balloon System

Symbol: OBLN

TRADES:NASDAQ

Profile:




website: www.obalon.com

[DS CPA]

This is an interesting stock because there are so many bagholders locked into huge losses that won’t move on an already small float. We’ve dropped from $1.80 down to a low of $1.03 on about 700k shares traded. That is less than 10% of the O/S moving.

If you are entering now or have a low average already (sub $2) then this still appears to be a great buying opportunity. The market cap is under $10M now and there are countless warrants that are far out of the money (I.e. incentive for insiders). For those with some patience there is money to be made here, in my humble opinion. But this will probably never reach anywhere near what it was at in early 2019.

[manofIsle]

Nobody wants to swallow balloons that expand in your stomach. Not.to mention you have to sign a waiver that if we kill you it's not are fault....but they will swallow twinkies

[manofIsle]

Nobody wants to swallow balloons that expand in your stomach. Not.to mention you have to sign a waiver that if we kill you it's not are fault....but they will swallow twinkies

[r clarke]

Buying a few shares today.

Entire market getting killed with this virus scare.

2019 results were down, as we knew they'd be.

Key Accomplishments in 2019:

Opened the first Obalon-managed retail treatment center in San Diego
Commercialized Obalon Navigation System and Obalon Touch Inflation Dispenser
Streamlined operations and spend to support new commercial strategy
Repaid all outstanding long-term debt
Promoted Bill Plovanic from Chief Financial Officer to President and Chief Executive Officer
Appointed Bob MacDonald as Chief Retail Officer to establish and grow our network of Obalon Centers for Weight Loss facilities
Promoted Nooshin Hussainy from Vice President of Finance to Chief Financial Officer
Engaged Helmuth T. Billy, MD as Medical Director for Company-managed California retail treatment centers
Entered into one-year distribution agreement with distributor for Qatar
Announced clinical data presentation at ASMBS annual meeting at Obesity Week 2019 demonstrating clinically meaningful weight loss for patients treated with the Obalon Balloon System with no serious adverse events reported

[Gremlins]

https://finance.yahoo.com/news/could-obalon-therapeutics-inc-nasdaq-144355122.html

[manofIsle]

....I saw that

[Grandmasim]

No way!!!

Wow. You are awesome...looks like you were wrong YET AGAIN!!!

OUTSTANDING work! :)

[Grandmasim]

Oh yeah..spot on..LMFAO!!!!!

Massive decline....it has only been a half day :)

[manofIsle]

LOOKS LIKE I WAS SPOT ON FELLAS WITH THAT PRICE DECLINE. YA AIN5 SEEN NOTHIN YET, END OF 5HE YEAR WRITE OFF, HOLIDAYSZ NO REVS, NO CLIENTS, DILLUTION, LOT.OF EXPENSE SETTING UP STORE FRONT...THE FATTIES WONT COME INTO THE DOOR UNTIL AFTER NEWS YEAR. THE 2ND QTR OF 2020 WILL TELL YOUR FUTURE, UNTIL THEN WE HIT $1.00. CHEERS