Intersect ENT said today that it’s shares should hit the NASDAQ exchange at $11 apiece, the low end of the range, for expected proceeds of $55 million.

At that price, Intersect would command a market capitalization of roughly $267 million.

Earlier this month, Intersect said it planned to price the 5-million-share IPO at $11-$13 per XENT share, for proceeds of $55 million to $65 million. Today the company said the offering, expected to close July 29, includes a 30-day over-allotment option for up to 750,000 additional shares.

Intersect, which makes drug-eluting devices designed to treat ear, nose & throat conditions, raised a $30 million Series D round in February 2013 that included a contribution from Medtronic (NYSE:MDT). An earlier round in November 2010 also raised $30 million.

Menlo Park, Calif.-based Intersect won FDA approval for its Propel implant in August 2011. The device was the 1st of a new category of devices offering localized, controlled steroid delivery directly to sinus tissue. The Propel implants prop open a patient’s sinus in order to gradually deliver an advanced steroid with anti-inflammatory properties directly to the sinus lining before dissolving into the body over time. In 2012 the company won FDA approval for the Propel mini implant, a smaller version of the original Propel device, designed for patients who need less extensive surgery or who have a smaller anatomy.

The company reported sales of $17.9 million in 2013, more than 200% higher than the $5.9 million reported in 2012. Losses widened 12% year-over-year to $18.4 million, but per-share losses shrank by 23% to $3.14. In the most recent quarter Intersect notched $7.5 million in revenue, a 173% bump year-over-year. Losses narrowed 7.2% to $4.4 million and per-share losses shrank by nearly half, coming in at 62¢.