The St. Paul, Minn.-based medical device company has said it plans to use the proceeds for working capital and general corporate purposes, which is likely to include backing for its ORBIT II clinical trial of its atherectomy device.
CSII shares jumped nearly 18% last week after the company revealed what 1 analyst called "convincingly positive" 30-day data from the ORBIT II study.
The offering includes a 30-day over-allotment option of 300,000 shares for the underwriters, according to a press release.
CSII shares were trading at $18.62 each as of about 12:50 p.m. today, up 4.8%.
Imaging Acquisition picks up LumeGEM molecular breast imaging biz out of bankruptcy
Psilos Group’s Imaging Acquisition Inc. said it’s acquired the LumaGEM molecular breast imaging business of Gamma Medica Inc. in a Chapter 11 bankruptcy sale.
Kips Bay regains NASDAQ’s good graces
Kips Bay Medical (NSDQ:KIPS) said it’s back in the NASDAQ stock exchange’s good graces now that its share price has been above $1 apiece for 10 consecutive business days. The exchange warning the company last month of a possible delisting if it couldn’t get its share price above the $1 minimum requirement.
US HIFU changes name to SonaCare Medical
US HIFU LLC said it’s changed its name to SonaCare Medical "to better align with our strategic vision of expanding our current HIFU technology to treat a range of urological indications," according to CEO Michael Klein.
- Abbott (NYSE:ABT): Deutsche Bank maintains “hold” rating.
- Cardinal Health (NYSE:CAH): Goldman Sachs reiterates "neutral" rating, lowers price target from $50 to $48; ISI Group downgrades from "strong buy" to "buy" rating, lowers price target from $50.50 to $48.50; Morgan Stanley reiterates "overweight" rating, lowers price target from $54 to $48.
- Delcath (NSDQ:DCTH): Wedbush maintains "outperform" rating, lowers price target from $9.55 to $5.
- Echo Therapeutics (NSDQ:ECTE): LifeTech Capital reiterates "strong speculative buy" rating, lowers price target from $5 to $3.75.
- Endo Health (NSDQ:ENDP): Bank of America reiterates $33 price target, “buy” rating.
- ICU Medical (NSDQ:ICUI): Benchmark Co. reiterates "buy" rating, $69 price target.
- Intuitive Surgical (NSDQ:ISRG): Lazard maintains "buy" rating, $625 price target.
- McKesson (NYSE:MCK): Goldman Sachs reiterates "buy" rating, lowers price target from $124 to $122.
- NuVasive Inc. (NSDQ:NUVA): TheStreet upgrades from "sell" to "hold" rating.
- Opko (NYSE:OPK): Jefferies reiterates "buy" rating, raises price target from $8 to $9.
- Optos plc (LON:OPTS): Singer cuts Optos to "sell" to "hold" rating, maintains 172p price target.
- Smith & Nephew (FTSE:SN, NYSE:SNN): Morgan Stanley raises price target from $10.39 to $10.98, maintains “equal weight” rating.
- Steris (NYSE:STE): Bank of America reiterates "buy" rating, raises price target from $42 to $43.
- Vascular Solutions (NSDQ:VASC): Benchmark Co. reiterates "hold" rating, $17 price target; Canaccord Genuity reiterates "buy" rating, $20.50 price target