Obalon Enters into a Distribution Agreement for Qatar

Date : 12/18/2019 @ 1:30PM
Source : GlobeNewswire Inc.
Stock : Obalon Therapeutics Inc (OBLN)
Quote : 0.7048  0.0155 (2.25%) @ 5:00AM
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Obalon Enters into a Distribution Agreement for Qatar

Obalon Therapeutics (NASDAQ:OBLN)
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Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated weight loss solutions company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, announces that it has entered into a one-year agreement with Al Danah Medical Company (“Al Danah”) for distribution of the Obalon Navigation Balloon System in Qatar.  Obalon has terminated its agreement with Bader Sultan and Bros. Company for distribution of its prior-generation balloons, which was set to expire on December 31, 2019.Obalon’s President and CEO, Bill Plovanic commented, “While our primary focus is on the development and operation of Company-owned retail treatment centers in the U.S., we recognize that obesity remains a global epidemic. We believe the agreement with Al Danah makes clinical and economic sense and allows us to take a small step forward internationally, without distracting us from our primary commercial strategy in the United States.”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 http://www.obalon.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements that are not purely historical regarding Obalon’s or its management’s intentions, beliefs, expectations and strategies for the future, including those related to new products and their potential benefits. All forward-looking statements and reasons why results might differ included in this press release are made as of the date of this release, based on information currently available to Obalon, deal with future events, are subject to various risks and uncertainties, and actual results could differ materially from those anticipated in those forward looking statements. The risks and uncertainties that may cause actual results to differ materially from Obalon’s current expectations are more fully described in Obalon’s annual report on Form 10-K for the period ended December 31, 2018, its quarterly report on Form 10-Q for the period ended September 30, 2019 and its other reports, each as filed with the Securities and Exchange Commission. Except as required by law, Obalon assumes no obligation to update any such forward-looking statement after the date of this report or to conform these forward-looking statements to actual results.

For Obalon Therapeutics, Inc.

Investor Contact:  Bill Plovanic  President and Chief Executive Officer  Obalon Therapeutics, Inc.  Office: +1 760 607 5103  wplovanic@obalon.com

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