Obalon Engages Cowen to Explore Financial and Strategic Alternatives
April 11 2019 - 8:00AM
Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated
medical technology company with the first and only FDA-approved
swallowable, gas-filled intragastric balloon system for the
treatment of obesity, announces that the Company has retained
Cowen as an independent financial advisor to assist in exploring
financial and strategic alternatives. As previously
announced, Obalon recently undertook an organizational
restructuring intended to refocus activities, streamline operations
and make more efficient use of cash. With Cowen’s assistance, the
Company plans to expand these efforts by exploring a wide range of
financial and strategic alternatives that could enhance stockholder
value and enable the Company to continue serving other important
constituencies, including patients and physicians.
Obalon will proceed in an orderly manner to identify and
evaluate possible financial and strategic alternatives for the
Company and their implications. No assurance can be given as to
whether any particular financial or strategic alternative will be
recommended or undertaken, and if so, upon what terms and
conditions. Obalon does not intend to make any further public
announcements regarding its review of possible financial and
strategic alternatives until its Board of Directors has approved a
transaction or otherwise determined that further disclosure is
appropriate or required by law.
Forward-Looking StatementsTo the extent that
statements contained in this press release are not descriptions of
historical facts regarding Obalon Therapeutics, they are
forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor of the
Private Securities Reform Act of 1995, including statements
regarding the impact of the organizational restructuring and
transition to a new commercial approach. Such forward-looking
statements involve substantial risks and uncertainties that could
cause Obalon Therapeutics' future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, the uncertainties and risks
associated with the evaluation, pursuit and engagement in any
particular financial or strategic transaction, the uncertainties
inherent in the product research, development and regulatory
process and risks, risks of operating with a reduced workforce and
uncertainties surrounding the effectiveness and efficiency of the
new commercial approach. Obalon Therapeutics undertakes no
obligation to update or revise any forward-looking statements. For
a further description of the risks and uncertainties that could
cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to Obalon
Therapeutics' business in general, please refer to Obalon
Therapeutics’ annual report on Form 10-K filed with the Securities
and Exchange Commission on February 22, 2019, and its current and
future periodic reports filed with the Securities and Exchange
Commission.
About Obalon Therapeutics, Inc. Obalon
Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based company
focused on developing and commercializing novel technologies for
weight loss. For more information, please
visit www.obalon.com.
For Obalon Therapeutics, Inc.Investor
Contact: William Plovanic Chief Financial Officer
Obalon Therapeutics, Inc. Office: +1 760 607 5103
wplovanic@obalon.com
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