Shares of the ReShape Lifesciences Inc. (RSLS) stock were climbing in the premarket trading session today on December 10, 2021. RSLS stock price saw a push of 9.95% to reach $2.10 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 5.45% with a $1.91 per share price at closing. Let’s take a closer look to understand the reason behind this rise.

What’s Happening?

RSLS stock recently announced that its Chief Executive Officer and Chief Financial Officer will present a company overview on December 16th. The company overview will be live at VirtualInvestorConferences.com, at 2:00 pm ET. RSLS stock has invited institutional investors, individuals, advisors, and analysts to attend the real-time interactive presentations. Investors can ask questions to the company in real-time. For more information, you can visit www.virtualinvestorconferences.com.

For your intuition, Reshape Lifesciences Inc. is a weight loss solution company operating in America that offers a variety of products and services for the treatment of obesity and metabolic diseases. RSLS stock has a current market value of $33.96 million and a 1,465,958 average trading volume.

Marketing Campaign Performance of RSLS stock:

On November 16, 2021, RSLS stock provided the update regarding its direct-to-consumer marketing campaign. According to the Reshape stock, the results were very satisfactory as the company achieved all the key performance indicators. In many cases, the results were higher than the expectations. In the first five weeks of the campaign, the scheduled consultations were 520% high. Such results have boosted the confidence of the management as it expects to achieve projected revenue and return on investment from the campaign.

Financial View of RSLS stock:

• According to the third quarter of 2021 financial results, the company generated $3.7 million in revenue, $0.1 million higher than Q3, 2020. For the first nine months of 2021, the revenue reached $10.5 million as compared to $8.1 million in the same prior-year period.
• RSLS stock recorded a gross profit of $2.1 million in the recently reported quarter. This represents a $0.2 million decrease as compared to the same period of the previous year. However gross profit for the first nine months of 2021 increased to reach $6.6 million.
• The company spent $12.0 million in general and administrative expenses in the third quarter of 2021. Sales and marketing expenses in the reported quarter were $3.5 million. Research and development expenses jumped from $0.9 million in Q3,2020 to $1.6 million in Q3,2021.
• By the end of the third quarter of 2021, the company had $29.3 million in cash and cash equivalents.

Wrap Up:

The sentiment is positive for the RSLS stock in the stock market, and it would be interesting to see how long the trend continues. The per-share price of this stock declined approximately 56% year to date.