ReShape Lifesciences Inc. (RSLS) shares gained 0.58% in after-hours on Tuesday, August 31, 2021, and closed the daily trading at $3.48. In the regular trading session of Friday, RSLS’s stock gained 2.98%. RSLS shares have risen 34.00% over the last 12 months, and they have moved up 9.84% in the past week. Over the past three months, the stock has lost 63.39%, while over the past six months, it has declined 63.50%.

Let’s have a brief look at its recent news.

RSLS new appointment

On August 31, 2021, ReShape Lifesciences Inc (RSLS) appointed Al Diaz as Vice President of Operations and Research and Development. Mr Diaz will be responsible for overseeing the company’s manufacturing operations and research and development efforts.

RSLS recent financial results announcement

On August 16, 2021, ReShape Lifesciences Inc (RSLS) announced its financial and operational results for the three months ended June 30, 2021.

Q2 2021 financial highlights

• RSLS reported total revenue of 3.5 million in Q2 2021 compared to $1.7 million in revenue for the three months ended June 30, 2020.
• In Q2 2021, gross profit was $2.1 million compared to $0.8 million for Q2 2020.
• Total operating expenses were $5.9 million in Q2 2021 compared to $3.8 million for Q2 2020.
• Non-GAAP adjusted EBITDA was negative $1.2 million in Q2 2021 compared to negative $2.1 million for Q2 2020.
• As of June 30, 2021, the company had cash and cash equivalents and restricted cash of $40.2 million.

RSLS Online Consumer Marketplace

On July 13, 2021, ReShape Lifesciences Inc (RSLS) launched the ReShape Marketplace ™ as an extension of reshapecare ™, the company’s reimbursed telehealth service for weight loss across any physician-prescribed therapy. ReShape Marketplace provides consumers with a collection of creative, competitively priced, yet practical wellness products in the areas of nutrition, exercise, sleep, and stress.

RSLS update about Lap-Band Manufacturing

On July 7, 2021, ReShape Lifesciences Inc (RSLS)  completed their Lap-Band^® manufacturing transition from Apollo Endosurgery, Inc to a Massachusetts-based manufacturer, to reduce costs, improve margins and directly control the manufacturing process.

The Lap-Band is the only FDA-approved, laparoscopic weight-loss device specifically indicated for a BMI of 30 or higher in the U.S.

RSLS exceptional Lap-Band Growth due to Covid-19

On July 1, 2021, ReShape Lifesciences Inc (RSLS) announced that Lap-Band^® utilization has increased since COVID-19 in response to patients’ increased desire for a reimbursed, effective, and sustainable weight-loss procedure that can be provided in outpatient surgery centres.

Conclusion

We had only one recent development which we do not think is the reason behind its gains on Tuesday. Let’s see how it commence the Wednesday trading?