Infraredx today set the terms for its forthcoming initial public offering, saying it plans to offer 4 million shares at a range of $13 to $15 each, and set out on a road show to drum up interest from investors.
Burlington, Mass.-based Infraredx makes an imaging system that combines intravascular ultrasound and near-infrared spectroscopy to provide images of the interior of coronary blood vessels. The company says the device is designed to detect lipid-core-containing plaque, which it says is implicated in higher risk for heart attack or stroke.
Infraredx’s IPO announcement was 1 of the last of 2014, a year which saw public flotations by medical device companies surge.
The company, which plans to list on the NASDAQ exchange under the REDX symbol, said the offering includes a 30-day. 600,000-share over-allotment option for its underwriters.
Last month Infraredx touted a study in the Journal of the American College of Cardiology showing its imaging technology could help cardiologists assess a patient’s risk for suffering a heart attack or stroke.