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NATICK, Mass. - Allurion Technologies, Inc. (NYSE:ALUR), currently trading at $2.88 with a market capitalization of $21.33 million, announced Wednesday a distribution partnership with Minogue Medical Inc. to bring its weight loss program to the Canadian market. According to InvestingPro data, the company maintains impressive gross profit margins of 66.41%, despite challenging market conditions.
The partnership leverages Minogue Medical’s 40-year presence in Canada and its established network of dietitians, bariatric surgeons, and endoscopic specialists. Minogue Medical specializes in bariatric and obesity care across the Canadian healthcare system. While Allurion’s liquid assets exceed its short-term obligations with a current ratio of 2.09, InvestingPro analysis indicates the company faces challenges with cash burn rates.
"We select partners who share our vision for ethical, patient-centered care," said Danny Minogue, CEO of Minogue Medical, according to the company’s press release.
The collaboration aims to increase access to providers offering the Allurion Program in combination with GLP-1 therapy to enhance weight loss outcomes. Allurion’s approach focuses on weight loss while maintaining muscle mass.
Dr. Michel Gagner, a Canadian bariatric surgeon, called the partnership "a pivotal step forward for obesity care in Canada," citing Minogue’s multidisciplinary approach to patient care.
The Allurion Program includes the Allurion Gastric Balloon, which the company describes as the world’s first swallowable gastric balloon that requires no procedure for placement, along with a virtual care suite featuring a mobile app and AI platform for healthcare providers.
Dr. Shantanu Gaur, Founder and CEO of Allurion, stated that the agreement reflects the company’s commitment to finding global partners who believe in their approach to obesity care.
The Allurion Gastric Balloon remains an investigational device in the United States, according to the statement released by the company. With the stock down 75.91% year-to-date, InvestingPro offers comprehensive analysis with 14 additional ProTips and a detailed Pro Research Report, helping investors understand the company’s growth potential and risks.
In other recent news, Allurion Technologies has submitted the final module of its Pre-Market Approval (PMA) application to the FDA for its swallowable gastric balloon weight loss device. The company reported additional analyses from its AUDACITY Study, showing improved results that meet both co-primary endpoints, with a significant difference in weight loss between treatment and control groups. In financial developments, Allurion experienced a significant decline in revenue for the first quarter of 2025, dropping to $5.6 million from $9.4 million the previous year. Despite this, the company improved its gross margin to 75% and reduced its adjusted loss from operations by 48%.
The company is advancing its combination therapy and preparing for FDA approval, with plans to launch in the U.S. market. Allurion’s strategic initiatives have led to a reduction in operating expenses by 45% year-over-year. Analysts have noted the company’s focus on innovation and market expansion as positive indicators for future growth. CEO Shantanu Gore expressed optimism about Allurion’s strategic direction, highlighting the potential of combining the Allurion program with low-dose GLP-1s as a new standard of care for obesity.
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