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 Cowens 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.
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