Obalon Surges 470% On ReShape Lifesciences Merger Agreement

Obalon Therapeutics Inc OBLN shares are trading higher Wednesday after the company announced a merger agreement with ReShape Lifesciences.

Obalon Therapeutics is a medical device company that focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. Its product includes Obalon Balloon System. Geographically, it derives a majority of revenue from the United States.

Obalon Therapeutics shares were trading up 472.67% at $9.22 at publication time. The stock has a 52-week high of $9.70 and a 52-week low of 62 cents.