Why ReShape Lifesciences Stock Is Moving Higher Wednesday
Portfolio Pulse from Dylan Berman
ReShape Lifesciences, Inc. (NASDAQ:RSLS) shares surged on Wednesday following the approval of its patent for an intragastric device designed to treat obesity. The device is a swallowable implant that expands in the stomach to induce fullness and restrict food intake. The stock is trading on abnormally high volume, significantly above its average session volume.
May 29, 2024 | 2:47 pm
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ReShape Lifesciences received approval for its patent on an intragastric device to treat obesity, leading to a 61.8% increase in its stock price. The device is designed to expand in the stomach to induce fullness and restrict food intake, and the stock is trading on abnormally high volume.
The patent approval is a significant milestone for ReShape Lifesciences, potentially opening new revenue streams and enhancing its market position. The high trading volume indicates strong investor interest and confidence in the company's future prospects.
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