On July 23, 2019 Apollo Endosurgery, Inc. ("Apollo") (Nasdaq: APEN), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, reported financial results for the second quarter ended June 30, 2019 (Press release, Lpath, JUL 23, 2019, View Source [SID1234537669]).

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Second Quarter 2019 Highlights
•OverStitch, or ESS, sales increased 40% to $7.7 million, representing 63% of our Endo-bariatric sales for the quarter
•Endo-bariatric sales increased 13% to $12.2 million in the second quarter of 2019 from $10.8 million in the second quarter of last year
•In constant currency, Endo-bariatric sales increased 16% for the second quarter
Todd Newton, CEO of Apollo, commented, "The second quarter was a terrific OverStitch quarter. Sales were strong with 40% growth in the quarter. In addition, the interest expressed for OverStitch at Digestive Disease Week, the main gastroenterologist event of the year, was exciting with more than 30 abstracts from physicians related to OverStitch use in a variety of endolumenal surgeries and four DDW-sponsored training events that included endoscopic suturing in addition to our own company-provided training sessions in our mobile learning center."
Second Quarter 2019 Results
Consolidated Endo-bariatric product sales increased 13% as reported and 16% in constant currency. Of our Endo-bariatric product sales in the second quarter of 2019, 63% related to ESS. In the U.S., Endo-bariatric sales increased 21% to $5.2 million and outside the U.S. ("OUS") Endo-bariatric sales increased 8% as reported and 13% on a constant currency basis to $7.0 million.
Worldwide, ESS product sales increased 40% as reported and 43% in constant currency. U.S. ESS product sales increased 42% to $3.8 million in the second quarter of 2019. OUS ESS product sales increased 38% as reported and 44% in constant currency to $3.9 million.
Worldwide IGB sales decreased 15% as reported and 12% on a constant currency basis. U.S. IGB sales decreased $0.2 million, or 13%, to $1.5 million in the second quarter of 2019 while OUS IGB product sales decreased 15% as reported and 12% on a constant currency basis to $3.1 million.
The divestiture of our Surgical products in December of 2018 affects the comparability of our total revenues in the second quarter of 2019 versus 2018. Total revenues in the second quarter of 2019 include $1.3 million of Surgical product sales from certain OUS markets where we continue to temporarily distribute these products and $0.6 million of transition and manufacturing services provided to ReShape while total revenues in the second quarter of 2018 included $4.7 million of Surgical product sales.
Gross margin for the second quarter 2019 was 50%, compared to 58% for the second quarter 2018 as a result of a greater proportion of our overall product sales coming from our ESS products, which realize a lower gross margin than our other products. Gross margin for our Endo-bariatric products was 50% for the second quarters of both 2019 and 2018.
Total operating expenses decreased $2.3 million to $14.4 million in the second quarter 2019, compared to the second quarter 2018. Amortization expense is $1.3 million lower as a result of the reduction in our intangible assets after the recent divestiture of our Surgical products. In addition, sales and marketing expense is $0.7 million lower than the second quarter of 2018.
Net loss for the second quarter 2019 was $8.8 million compared to $9.5 million for the second quarter 2018.
Cash, cash equivalents and restricted cash were $23.9 million as of June 30, 2019.
Conference Call
Apollo will host a conference call on July 23, 2019 at 3:30 p.m. Central Time / 4:30 p.m. Eastern Time to discuss operating results for the second quarter ended June 30, 2019.

To participate in the conference call dial (866) 393-4306 for domestic callers and (734) 385-2616 for international callers. The conference ID number is 3369396. A live webcast of the conference call will be made available on the "Events and Presentations" section of our Investor Relations website: www.ir.apolloendo.com.
A replay of the webcast will be made available on Apollo’s website, www.apolloendo.com following the event.
Non-GAAP Financial Measures
To supplement our financial results we are providing a non-GAAP financial measure, percentage revenue change in constant currency, which removes the impact of changes in foreign currency exchange rates that affect the comparability and trend of revenues. Percentage revenue change in constant currency is calculated by translating current foreign currency sales at last year’s exchange rate. This supplemental measure of our performance is not required by, and is not determined in accordance with GAAP.
We believe the non-GAAP financial measure included herein is helpful in understanding our current financial performance. We use this supplemental non-GAAP financial measure internally to understand, manage and evaluate our business, and make operating decisions. We believe that making non-GAAP financial information available to investors, in addition to GAAP financial information, may facilitate more consistent comparisons between the company’s performance over time with the performance of other companies in the medical device industry, which may use similar financial measures to supplement their GAAP financial information. However, our non-GAAP financial measure is not meant to be considered in isolation or as a substitute for the comparable GAAP metric.

On July 23, 2019 Halozyme Therapeutics, Inc. (NASDAQ: HALO), a biotechnology company developing novel oncology and drug-delivery therapies, reported that it will webcast its Quarterly Update Conference Call for the second quarter 2019 on Tuesday, August 6 at 4:30 p.m. ET / 1:30 p.m. PT. Dr. Helen Torley, president and chief executive officer, will lead the call (Press release, Halozyme, JUL 23, 2019, View Source [SID1234537685]). On the same date, Halozyme will release financial results for the second quarter ended June 30, 2019 following the close of trading.

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The call will be webcast live through the "Investors" section of Halozyme’s corporate website and a recording will be made available following the close of the call. To access the webcast and additional documents related to the call, please visit the Investors page of www.halozyme.com approximately fifteen minutes prior to the call to register, download and install any necessary audio software. The live call may be accessed by dialing (877) 824-0907 (domestic callers) or (647) 689-5655 (international callers). A telephone replay will be available after the call by dialing (800) 585-8367 (domestic callers) or (416) 621-4642 (international callers) using replay ID number 5549627.

On July 23, 2019, Moleculin Biotech, Inc. ("Moleculin" or "Company"), reported that it entered into an At Market Issuance Sales Agreement (the "Agreement") with Oppenheimer & Co. Inc. (the "Agent") (Press release, Moleculin, JUL 23, 2019, View Source [SID1234537703]). Pursuant to the terms of the Agreement, the Company may sell from time to time through the Agent shares of the Company’s common stock, par value $0.001 per share ("Common Stock"), with an aggregate sales price of up to $15.0 million (the "Shares"). The Company had previously been party to an At Market Issuance Sales Agreement with Roth Capital Partners, LLC and National Securities Corporation, which agreement was terminated in June 2019.

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Any sales of Shares pursuant to the Agreement will be made under the Company’s effective "shelf" registration statement (the "Registration Statement") on Form S-3 (File No. 333-219434), which became effective on August 21, 2017 and the related prospectus supplement and the accompanying prospectus, as filed with the Securities and Exchange Commission (the "SEC").

Under the Agreement, the Company may sell Shares through the Agent by any method that is deemed an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act").

Sales of the Shares, if any, may be made at market prices prevailing at the time of sale, subject to such other terms as may be agreed upon at the time of sale, including a minimum sales price that may be stipulated by the Company’s Board of Directors or a duly authorized committee thereof. The Company or the Agent, under certain circumstances and upon notice to the other, may suspend the offering of the Shares under the Agreement. The offering of the Shares pursuant to the Agreement will terminate upon the sale of Shares in an aggregate offering amount equal to $15.0 million, or sooner if either the Company or the Agent terminate the Agreement pursuant to its terms.

The Company will pay a commission to the Agent of 3.0% of the gross proceeds of the sale of the Shares sold under the Agreement and reimburse the Agent for certain expenses. The Company has also provided the Agent with customary indemnification rights. The Company is not obligated to make any sales of Common Stock under the Agreement.

The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Agreement is also incorporated by reference into the Registration Statement.

A copy of the opinion of Schiff Hardin LLP relating to the legality of the shares of Common Stock issuable under the Agreement is filed as Exhibit 5.1 to this Current Report on Form 8-K and is also incorporated by reference into the Registration Statement.

The above disclosure shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

On July 23, 2019 Merck (NYSE: MRK), known as MSD outside the United States and Canada, reported that the Board of Directors has declared a quarterly dividend of $0.55 per share of the company’s common stock for the fourth quarter of 2019 (Press release, Merck & Co, JUL 23, 2019, View Source [SID1234537670]). Payment will be made on Oct. 7, 2019 to shareholders of record at the close of business on Sept. 16, 2019.

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On July 23, 2019 Bruker Corporation (Nasdaq: BRKR) reported it will report second quarter 2019 financial results on Thursday, August 1, 2019, after the market closes (Press release, Bruker, JUL 23, 2019, View Source [SID1234537686]). The Company will host a conference call and webcast at 4:30 p.m. Eastern Time to discuss the results and current business trends.

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To listen to the webcast, investors can go to View Source and click on the "Earnings Webcast" hyperlink in the "Latest Results" section. A slide presentation will be referenced during the webcast and will be posted to the company’s website shortly before the webcast begins.

Investors can also listen to the earnings webcast via telephone by dialing 1-888-437-2685 (U.S. toll free) or +1-412-317-6702 (international), and referencing "Bruker’s Second Quarter 2019 Earnings Conference Call".

Bruker is enabling investors to pre-register for the earnings conference call so that they can expedite their entry into the call and avoid the need to wait for a live operator. In order to pre-register for the call, investors can visit View Source and enter their contact information. Investors will then be issued a personalized phone number and PIN to dial into the live conference call. Individuals can pre-register any time prior to the start of the conference call on August 1.

A telephone replay of the conference call will be available by dialing 1-877-344-7529 (U.S. toll free) or +1-412-317-0088 (international) and entering conference number: 10133865. The replay will be available beginning one hour after the end of the conference call through September 1, 2019.

For Further Information:

Miroslava Minkova

Director, Investor Relations & Corporate Development

Tel: +1 (978) 663-3660, ext. 1479

Email: [email protected]