Business Context and Reporting Period
This Form 8-K is filed by Obalon Therapeutics, Inc. (trading symbol: OBLN) on December 16, 2020. The registrant is a Delaware corporation with principal executive offices in Carlsbad, California. The filing addresses a specific corporate event regarding stock listing compliance rather than a standard financial reporting period.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the stock price performance required for listing compliance: the closing bid price of the Company's common stock was $1.00 per share or greater for 10 consecutive business days.
Material Changes
- Regaining Compliance: The Company received written notification from Nasdaq Listing Qualifications staff confirming it has regained compliance with the minimum bid requirement (Nasdaq Listing Rule 5450(a)(1)).
- Market Transfer: The Company was transferred to the Nasdaq Capital Market effective December 16, 2020.
- Resolution of Non-Compliance: This action resolves a prior non-compliance notice issued on August 6, 2020, which was triggered when the stock price fell below $1.00 for 30 consecutive business days.
Outlook, Risks, and Management Commentary
Management commentary is limited to the confirmation of full compliance with Nasdaq continued listing standards. The filing does not contain forward-looking guidance, new risk factors, contingencies, or unusual items beyond the resolution of the listing deficiency.
Investor Verification Checklist
- Verify the current trading status of OBLN on the Nasdaq Capital Market.
- Confirm the stock price has remained above the $1.00 threshold to maintain compliance.
- Review the Company's most recent 10-Q or 10-K for actual financial performance data, as this 8-K contains no financial statements.