Obalon Therapeutics, which is developing an intragastric medical device to assist with weight loss, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
The Carlsbad, CA-based company was founded in 2008 and booked $4 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol OBLN. UBS Investment Bank, Canaccord Genuity and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
