— Obalon Therapeutics (NASDAQ: OBLN) reported a net loss of $0.61 per share for the third quarter of 2019, vs. $2.14 per share loss expected.
— Third-quarter net loss was $3.7 million, compared to a loss of $6.7 million a year earlier
— Revenue decreased to $0.3 million from $3.0 million in the third quarter of 2018, vs. $1.2 million loss expected
— Cost of revenue was $0.4 million, down from $1.4 million in the same period of last year
— Research and development expense declined sharply to $1.2 million from $2.4 million last year
— Opened the first company-owned retail treatment center, the Obalon Center for Weight Loss
— Raised $16.6 million in gross proceeds from an equity offering
— Promoted William Plovanic to President and CEO; promoted Nooshin Hussainy to CFO