• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » EnteroMedics prices follow-on offering at $35m

EnteroMedics prices follow-on offering at $35m

July 1, 2015 By Fink Densford

EnteroMedics prices follow-on offering at $35mEnteroMedics (NSDQ:ETRM) said yesterday it has priced a follow-on offering of 40.2 million shares of stock at 87¢ per share, slated to raise gross proceeds of $35 million.

The St. Paul, Minn.-based company said it expects to net $32.9 million from the offering, which it will use to continue to support its Maestro obesity device.

Each share in the offering consists of a share of common stock, Series A warrants to purchase common stock and Series B warrants to purchase common stock, the company said. Canaccord Genuity is the book-runner and Craig-Hallum Capital Group is co-manager for the flotation, EnteroMedics said.

EnteroMedics won FDA approval for the Maestro device in January 2015, following a mixed vote last year after the device failed to meet its efficacy endpoint in a clinical trial. It’s designed to use what EnteroMedics calls “vBloc therapy,” in which electrical pulses are used to block intra-abdominal vagus nerve signaling between the brain and stomach using a pacemaker-like device.

The company said it plans to use the funds to further the commercialization for Maestro, which saw its 1st commercial implantation in May.The cash will also be used for clinical work, product development and other working capital and corporate needs, EnteroMedics said.

Filed Under: Business/Financial News, Implants, Neuromodulation/Neurostimulation, Weight loss Tagged With: EnteroMedics Inc.

More recent news

  • Smith+Nephew to open first orthopedic ambulatory surgery center in the UK
  • Medtronic partners with IRCAD on Hugo, Affera surgical training
  • 23andMe co-founder wins bid to take back control of company
  • Neurent Medical opens new manufacturing facility in Ireland
  • Brain Navi wins FDA nod for neurosurgical robot

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy