ReShape Lifesciences (now Vyome Holdings) delays first-quarter 10-Q

The notice

ReShape Lifesciences Inc., now Vyome Holdings, Inc., told the Securities and Exchange Commission on May 15, 2025 that it will not file its quarterly report for the period ended March 31, 2025 on time. The company filed a Form 12b-25 notification of late filing for its Form 10-Q. The form gives a company a short extension when a report cannot be filed on time without unreasonable effort or expense. For a quarterly report, the extension is five calendar days past the original due date.

The notice, signed by Thomas Stankovich, the chief financial officer, gives the reason as the time needed to compile the financial statements and related disclosures. It singles out the reverse stock split the company carried out on May 9, 2025. The company says the filing must reflect that split, which is one reason the work is taking longer. The company is based in Irvine, California.

The company expects to file within the extension allowed under Rule 12b-25. It also states that it has filed all other periodic reports due in the preceding 12 months. Asked whether a significant change in results from the same period last year is expected, it checked no. The notice gives no revenue, net loss or cash figures for the quarter.

The business behind the filing

The company's annual report for 2024, filed April 4, 2025, describes ReShape as a physician-led weight-loss company. Its core product is the Lap-Band System, an adjustable silicone band placed laparoscopically around the upper stomach. The report also covers the Lap-Band 2.0 FLEX system, which the FDA approved in December 2023. The company says the newer band has a reservoir feature that lets food pass through when the band relaxes, and that it expects the product to bring back surgeons who used the Lap-Band earlier.

The annual report describes a Chief Executive Officer, Paul F. Hickey, who joined in August 2022 and pivoted its business strategy toward growth and profitability. The company says its 2024 cost reduction plan led to approximately 43% lower operating expenses in 2024 than the year before, excluding one-time costs. It attributes early growth in Lap-Band procedures to marketing changes, and it says those gains came despite the spread of GLP-1 receptor agonists such as Wegovy, Ozempic and Zepbound.

Two other lines are less developed. The ReShape Obalon Balloon, a swallowable, gas-filled balloon system, is to be relaunched through an OEM partner, Biorad Medisys of India. The company says it expects access to that product late in 2025 for distribution in the United States and other regions. The company's diabetes device, the Diabetes Bloc-Stim Neuromodulation technology, is described as a device under development with preclinical evidence presented at conferences. The company says it has received approximately $1.15 million of nondilutive NIH grant support for that work.

Reading the late filing

The company describes a shift to growth and new products, but this notice shows no revenue for the quarter, and the company's own 2024 report names the GLP-1 drugs as a headwind for its core Lap-Band business. That report says the timeline for profitability depends on many factors, including revenue growth from new product introductions. The Obalon relaunch and the diabetes device are both still ahead.

The reverse split adds a second layer. The company says the split must be reflected in the financial statements. The notice does not say what ratio the split used or how many shares are outstanding after it.

What comes next

The company expects to file the 10-Q within the five-day extension. The notice does not name a filing date or describe a restatement, and it gives no figures for the quarter.

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