Allurion Technologies, Inc. (“Allurion” or the “Company”) (NYSE:
ALUR), a company dedicated to ending obesity, today announced that
it has entered into a subscription agreement with funds affiliated
with RTW Investments, LP (“RTW”) for the purchase and sale of
841,751 shares of the Company’s common stock in a private placement
at a purchase price of $2.97 per share. The private placement is
expected to result in gross proceeds of $2.5 million and extend the
Company’s runway through early 2026. The subscription agreement
also includes an option to fund up to an additional $10 million in
subsequent tranches. The private placement is expected to close on
or about January 15, 2025, subject to the satisfaction of customary
closing conditions. The Company expects to use the net proceeds
from the private placement for working capital and other general
corporate purposes.
The Company also announced preliminary unaudited financial
results for the fourth quarter and fiscal year 2024. Preliminary
unaudited revenue for the fourth quarter of 2024 is expected to be
approximately $5.6 million and full year revenue to be
approximately $32 million, in line with previously issued guidance.
Procedure volume growth for the full year, as estimated by new app
users and excluding France, is expected to be approximately 4%,
higher than previously issued guidance.
“We are pleased with our preliminary unaudited results from the
fourth quarter, which put us in line with our previously issued
guidance for revenue and ahead for procedure volume while
restructuring our business so that we can grow more profitably and
sustainably in the future,” said Dr. Shantanu Gaur, Founder and
Chief Executive Officer. “On the heels of our results from the
AUDACITY trial, we believe this private placement from RTW provides
us the runway we need to execute our 2025 plan. Our 2025 plan
includes scaling our new commercial strategy, advancing the
Allurion Balloon through the FDA approval process, setting the
company up for a profitable 2026, expanding our digital business
lines, and resuming commercialization in France. I believe 2025
will be a pivotal year for Allurion with these potential catalysts
ahead of us.”
Roth Capital Partners is acting as the sole financial advisor
for the offering.
The securities sold in the private placement are being made in a
transaction not involving a public offering and have not been
registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state or other applicable jurisdiction’s
securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable
state or other jurisdictions’ securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any offer, solicitation or sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Allurion
Allurion is dedicated to ending obesity. The Allurion Program is
a weight-loss platform that combines the Allurion Gastric Balloon,
the world’s first and only swallowable, procedure-lessTM gastric
balloon for weight loss, the Allurion Virtual Care Suite, including
the Allurion Mobile App for consumers and Allurion Insights for
healthcare providers featuring the Iris AI Platform, and the
Allurion Connected Scale. The Allurion Virtual Care Suite is also
available to providers separately from the Allurion Program to help
customize, monitor, and manage weight-loss therapy for patients
regardless of their treatment plan. The Allurion Gastric Balloon is
an investigational device in the United States.
For more information about Allurion and the Allurion Virtual
Care Suite, please visit www.allurion.com.
Estimated Preliminary Results for the Fourth Quarter and
Fiscal Year Ended December 31, 2024 (Unaudited)
Set forth above are certain estimated preliminary financial
results and other key business metrics for the fourth quarter and
fiscal year ended December 31, 2024. These estimates are based on
the information available to us at this time. Our actual results
may vary from the estimated preliminary results presented here due
to the completion of our financial closing procedures, final
adjustments and other developments that may arise between now and
the time the financial results for the quarter and year ended
December 31, 2024 are finalized. The estimated preliminary
financial results and other key business metrics have not been
audited or reviewed by our independent registered public accounting
firm. These estimates should not be viewed as a substitute for our
full interim or annual financial statements. Accordingly, you
should not place undue reliance on this preliminary data.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the U.S. federal and state securities laws.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “target,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions and include statements
regarding the expected completion, timing and size of the private
placement, the anticipated use of proceeds of the private
placement, Allurion’s preliminary unaudited 2024 results for the
fourth quarter and fiscal year ended December 31, 2024, including
revenue generation and growth, and procedural volume growth,
alignment of such results with full year 2024 expectations, the
Company’s cash runway, ability to advance the FDA process for the
Allurion Balloon and achieve profitability in 2026, expand
commercialization of the digital business, resume commercialization
in France, and other statements about future events that reflect
the current beliefs and assumptions of Allurion’s management based
on information currently available to them and, as a result, are
subject to risks and uncertainties. Forward-looking statements are
predictions, projections and other statements about future events
that reflect the current beliefs and assumptions of Allurion’s
management based on information currently available to them and, as
a result, are subject to risks and uncertainties. Many factors
could cause actual future results or developments to differ
materially from the forward-looking statements in this press
release, including but not limited to (i) the ability of Allurion
to obtain regulatory approval for and successfully commercialize
the Allurion Program, (ii) the timing of and results from its
clinical studies and trials, (iii) the evolution of the markets in
which Allurion competes and the rise of GLP-1 drugs, (iv) the
ability of Allurion to defend its intellectual property and satisfy
regulatory requirements, (v) the impact of the COVID-19 pandemic,
Russia-Ukraine war and Israel-Hamas war on Allurion’s business,
(vi) Allurion’s expectations regarding its market opportunities,
(vii) the outcome of any legal proceedings against Allurion, (viii)
the risk of economic downturns and a changing regulatory landscape
in the highly competitive industry in which Allurion operates, and
(ix) uncertainties related to market conditions and the completion
of the private placement on the anticipated terms or at all. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
Company’s Annual Report on Form 10-K filed on March 26, 2026 and
Amendment No. 1 thereto filed on April 29, 2024, the Company’s
Quarterly Report on Form 10-Q filed on November 13, 2024 and other
documents filed by Allurion from time to time with the U.S.
Securities and Exchange Commission. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Allurion assumes
no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Allurion does not give any assurance
that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20250114242379/en/
Global Media Hannah Lindberg hlindberg@allurion.com
Investor Contact Mike Cavanaugh, Investor Relations ICR
Westwicke (617) 877-9641 mike.cavanaugh@westwicke.com
Allurion Technologies (NYSE:ALUR)
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