Tandem Diabetes Care upped the ante on its venture-backed initial public offering, increasing its maximum aggregate price to $123.2 million and pricing shares at between $13-$15 apiece.
The company, maker of the touch-screen t:slim insulin delivery system, will begin trading on the Nasdaq exchange under the ticker ‘TNDM’ following the IPO.
Tandem has not yet announced the launch date for the IPO.
Tandem has made inroads with its t:slim insulin delivery system, which won FDA clearance in November 2011. The device maker calls t:slim the "slimmest and smallest durable insulin pump on the market," designed to slide easily into a pocket.
"Based on extensive consumer input during development, we believe t:slim addresses both the embarrassment and functionality concerns related to the size and inconvenience of carrying a traditional pump," according to the registration statement.
Tandem posted its 1st revenues in 2012, reporting nearly $2.5 million in sales for the fiscal year ended December 31. Losses amounted to about $33 million, or $104.93 per share.