Obalon Therapeutics (OBLN) plans to raise $75 million in an initial public offering (IPO) on Thursday, October 6th. The company will issue 5,000,000 shares at $14.00-$16.00 per share.

In the last 12 months, Obalon Therapeutics generated $3.9 million in revenue and had a net loss of $16.1 million. Obalon Therapeutics has a market-cap of $239.3 million.

UBS Investment Bank, Canaccord Genuity and Stifel served as the underwriters for the IPO and BTIG was co-manager.

Obalon Therapeutics provided the following description of their company for its IPO: “We are a commercial-stage medical device company focused on developing and commercializing innovative medical devices to treat obese and overweight people by facilitating weight loss. Our initial product offering is the Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. We recently received premarket approval, or PMA, from the U.S. Food and Drug Administration, or FDA, to market our balloon system for temporary use to facilitate weight loss in obese adults with a body mass index, or BMI, of 30 to 40, who have failed to lose weight through diet and exercise. The Obalon balloon system is intended to be used as an adjunct to a moderate intensity diet and behavior modification program. “.

Obalon Therapeutics was founded in 2008 and has 51 employees. The company is located at 5421 Avenida Encinas, Suite F Carlsbad, CA 92008, US and can be reached via phone at (760) 795-6558 or on the web at https://www.obalon.com.

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