By Chris Wack


Fractyl Health shares reversed course in premarket trading after the company reported a fourth-quarter loss that was larger than last year.

The shares were down 21% to $5.80 in premarket trading, after being up as much as 40% earlier, after the company said it received U.S. Food and Drug Administration approval of a pivotal Investigational Device Exemption to study Revita.

The company had a quarterly loss of $23.5 million, or $11.18 a share, compared to a loss of $15.2 million, or $7.39 a share, in the same period last year.

Revenue for the quarter was $7 million, compared to no revenue last year.

Fractyl Health said the increase in net loss was primarily related to a $6.8 million increase in fair value of notes payable and warrants, as well as an increase in operating expenses.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

04-01-24 0758ET