24/7 Market News Snapshot 11 November, 2024 – ReShape Lifesciences, Inc. Common Stock (NASDAQ:RSLS)

November 11, 2024

DENVER, Colo., 11 November, 2024 (247marketnews.com) – (NASDAQ:RSLS) are discussed in this article.
ReShape Lifesciences, Inc. (RSLS) is experiencing notable pre-market activity, currently trading at $6.661, which signifies an impressive increase of 18.95% from the prior close of $5.600. The trading volume has reached 609.58K, reflecting strong investor interest that may support continued upward momentum. As the stock navigates key resistance levels, it could indicate further potential for price appreciation. The substantial price increase may be attributed to positive market catalysts or investor sentiment, prompting close observation of support levels to confirm this growing trend amid potential profit-taking at established psychological thresholds.

In conjunction with this positive market performance, ReShape Lifesciences has secured an additional grant of approximately $241,000 from the National Institutes of Health (NIH). This funding is intended to bolster the company’s collaboration with the University of Southern California’s Center for Autonomic Nerve Recording and Stimulation Systems (CARSS) in advancing next-generation electrodes for its innovative Diabetes Bloc-Stim Neuromodulation™ (DBSN™) device. The DBSN™ technology employs proprietary vagus nerve block (vBloc™) mechanisms aimed at addressing Type 2 diabetes, a disorder closely associated with obesity.

The financial boost will significantly aid critical research into laparoscopic surgical techniques and safety assessments utilizing a porcine model to evaluate blood glucose modulation. Dr. Jonathan Waataja, Director of Research, highlighted the promising efficacy of the DBSN™ technology for glycemic control through vagal modulation. Paul F. Hickey, President and CEO, noted this NIH funding, totaling $1.15 million, underscores the commitment to advancing innovative solutions for diabetes management, potentially reducing medication reliance and related costs. The DBSN™ platform reflects ReShape Lifesciences’ dedication to developing transformative healthcare solutions aimed at improving patient outcomes globally.

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