Avedro has registered for an upcoming initial public offering, looking to bring in approximately $86.3 million, according to a recently posted SEC filing.
The Waltham, Mass.-based company aims to list its common stock on the Nasdaq Global Market under the symbol “AVDR,” according to the filing.
Avedro is an ophthalmic device and pharmaceutical company focused on corneal cross-linking and refractive correction. Funding from the public offering will be used to support ongoing U.S. commercialization activities for the company’s KXL system and associated Photrexa formulations, Avedro said.
In addition, funds will also go to support global development, regulatory and commercialization of its latest-generation KXL system and Mosaic system and their associated drug formulations, as well as for general corporate purposes, according to the SEC filing.
Avedro has not yet stated how many shares it plans to offer or pricing for the shares to be offered.
Last May, Avedro said that it raised $25 million in a round of financing, with funds slated to support further product development, clinical studies and expanding sales and reimbursement support for its products.