The Palo Alto-based company makes the AeroForm tissue expander for post-mastectomy breast reconstruction. The device is designed to expand and stretch the skin and underlying muscle prior to a permanent breast implant using small amounts of CO2 up to three times a day.
The company said that it retained Cowen as its advisor, and that it is looking to explore financial and strategic alternatives.
Options under consideration include a capital raise, the company said in a press release, which it claims could enhance stockholder value and “enable the Company to continue serving other important constituencies, including patients and physicians.”
Last month, AirXpanders released results from a clinical study of its AeroForm system indicating that it’s use may be associated with reduced infection rates, less medical treatment and lower costs for patients and health systems.