June 19, 2020 / 11:04 AM / a month ago

BRIEF-Obalon Therapeutics Reports Q1 Loss Per Share Of $0.68

June 19 (Reuters) - Obalon Therapeutics Inc:

* OBALON ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS AND BUSINESS UPDATE

* Q1 REVENUE $800,000 VERSUS $1.8 MILLION

* EXPECT TO RECORD CERTAIN LONG-LIVED ASSET AND INVENTORY IMPAIRMENT CHARGES IN Q2 ENDED JUNE 30, 2020

* BELIEVES ITS CASH AND CASH EQUIVALENTS AS OF MARCH 31, 2020 ARE SUFFICIENT TO FUND ITS OPERATIONS ONLY THROUGH END OF 2020

* COMPANY HAS ACTIVELY REVIEWED FINANCIAL AND STRATEGIC ALTERNATIVES

* OBALON THERAPEUTICS - ON JUNE 16, , CO & CERTAIN OF ITS EXECUTIVE OFFICERS REACHED SETTLEMENT WITH PLAINTIFFS IN ITS ONGOING SECURITIES CLASS ACTION LITIGATION

* EXPECTS THAT ANY AMOUNTS DUE AS PART OF SETTLEMENT WILL BE COVERED BY COMPANY’S INSURANCE POLICIES. Source text for Eikon: Further company coverage:

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