APEN - A Serious Threat Is Emerging To Apollo Endosurgery's IGB Business

It's sometime ago since we looked at Apollo Endosurgery (APEN), and the progress we expected hasn't really materialized.

The company divested its surgical systems (the Lap Band) in Q4 of last year to concentrate on its non-surgical products, which are:

• ESS Endoscopic Suturing System (OverStitch)
• IGB or Intragastric Balloon (Obrera)

In ESS, they launched their new product the Sx in February but it's not yet contributed to revenues in a meaningful way. Here you see how the different product lines contribute to revenues (10-Q):

Here is the 10-Q