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NATICK, Mass. - Allurion Technologies, Inc. (NYSE: ALUR), a company focused on obesity treatment solutions, has expanded its intellectual property portfolio with a newly issued U.S. patent. According to InvestingPro data, the company maintains impressive gross profit margins of 73%, though it faces challenges with cash management. For deeper insights into Allurion's financial health and growth potential, investors can access comprehensive analysis through InvestingPro's detailed research reports. The U.S. Patent and Trademark Office granted Patent No. 12,209,677, which pertains to advancements in Allurion's proprietary Balloon technology, particularly improving the precision of the valve system that controls the balloon's deployment.
The patent, dated January 15, 2025, is expected to protect the company's technology through July 2039. With this development, Allurion's U.S. patent count rises to 20, complementing its global tally of 59 patents. This growth in Allurion's patent holdings underscores its commitment to innovation in the field of non-surgical weight loss treatments.
Allurion's flagship offering, the Allurion Program, integrates the Allurion Gastric Balloon, a swallowable device that aids in weight loss without the need for a surgical procedure. The program also features the Allurion Virtual Care Suite, which includes a mobile app and connected scale for consumers, and Allurion Insights for healthcare providers, powered by the Iris AI Platform. Patients using the Allurion Program have reportedly lost an average of 10-15% of their total body weight, with some studies indicating an increase in muscle mass.
Shantanu Gaur, Allurion's Founder and CEO, expressed confidence in the company's growing patent collection, emphasizing its role in supporting the company's R&D efforts and commercialization strategies. He highlighted the uniqueness of Allurion's weight loss solutions in addressing obesity.
The Allurion Gastric Balloon remains an investigational device in the United States, and the company's success hinges on regulatory approvals and market acceptance of its technologies. Financial metrics from InvestingPro indicate the company's current market capitalization stands at $9.25 million, with a debt-to-capital ratio of 0.88, highlighting significant financial challenges ahead. Despite the potential risks and uncertainties faced by Allurion, including market competition and the evolving healthcare landscape, the issuance of this new patent marks a significant step in the company's endeavor to secure its position in the obesity treatment market. InvestingPro analysis suggests the stock may be undervalued at current levels, with 18 additional ProTips available to subscribers.
This news is based on a press release statement from Allurion Technologies, Inc.
In other recent news, Allurion Technologies reported promising results from its AUDACITY FDA pivotal trial for the Allurion Balloon, a non-surgical weight loss device. Over half of the participants achieved significant weight loss at 48 weeks. The company has expanded its board, appointing R. Jason Richey as a Class II director. Allurion also announced a one-for-twenty-five reverse stock split, aiming to elevate the market price of its common stock. Analysts from TD Cowen maintain a Buy rating for Allurion, while Chardan Capital Markets downgraded the company's stock from Buy to Neutral. Allurion's third-quarter revenue was reported to be $5.4 million, leading to a revision of its full-year 2024 revenue guidance to fall between $30 million and $35 million. The company also plans to cut its operating expenses by half and reduce its workforce by 50% by 2025. These are recent developments in the company.
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