Obalon Announces Repayment of All Long-Term Debt and Regaining of Compliance with NASDAQ Listing Requirement

SAN DIEGO, Oct. 03, 2019 (GLOBE NEWSWIRE) — Obalon Therapeutics, Inc. (NASDAQ:OBLN), a?San Diego-based company focused on commercializing the Obalon Balloon System, the first and only?FDA-approved swallowable, gas-filled intra-gastric balloon for weight loss,?announces that it has retired the remaining $5 million of its long-term debt facility with Pacific Western Bank. In addition to removing the risks and restrictions of carrying long-term debt, the debt payoff eliminates interest expense of approximately $350,000 annually. Separately, the Company announced in an 8-K filing with the SEC today that it believes it has regained compliance with NASDAQ Listing Rule 5450(b)(1)(A) by increasing its stockholder?s equity above the minimum required for contin