One of the few big gainers on the market today, ReShape Lifesciences Inc (NASDAQ: RSLS) announced that it would be attending and presenting at Obesity Week. The stock has been on a tremendous downtrend as of late, making it so that this little bite of good news would send the stock on a dramatic run for the top. Today, we’ll talk about:
- The coming presentation;
- what we’re seeing from RSLS as a result; and
- what we’ll be watching for ahead.
RSLS Will Attend Obesity Week
In a late press release issued yesterday, ReShape Lifesciences announced that it will be not only attending, but presenting at Obesity week. The event will take place from November 11th through November 15th and well be held at the Music City Center in Nashville.
At the conference, RSLS will have booth #913, a 20′ x 20’presentation area where it will showcase its proprietary ReShape vBlocTM-based combination stimulation/blocking technology. This technology is designed to help control glucose in patients with type 2 diabetes.
In the release, RSLS said that the presentation, titled “Dual Vagus Neromodulation Improves Glycemic Control in Obese Rat and Pig Models of Type 2 Diabetes,” will take place on November 15, 2018. The presentation is expected to last one and a half hours from 12:00 PM to 1″30PM. Charles Billington, MD, Chief, Section of Endocrinology and Metabolism, Minneapolis VA Health Care System; Professor of Medicine, University of Minnesota will be providing the presentation.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of ReShape Life Sciences, the news was positive. After all, the presentation at Obesity Week will allow the company to showcase recent positive data in a room full of investors, analysts and potential partners. So, it comes as no surprise to see that excited investors are pushing the stock on a run for the top. At the moment (10:48), RSLS is trading at $0.028 per share after a gain of $0.0042 per share or 17.50% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RSLS. In particular, we’re interested in following the company’s presentation as well as the continued work the company is putting in to making its products available to fight obesity around the world. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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