Silk Road Medical (NSDQ:SILK) has registered a $159 million stock offering to fund its transcarotid artery revascularization (TCAR) technology for the treatment of stroke, according to a regulatory filing.
The Sunnyvale, Calif.-based company is proposing an offering of 4.04 million shares of its common stock at a maximum share price of $39.50 each, including 525,000 shares that the underwriters will have the option to purchase, according to a regulatory filing.
The company is developing a neuroprotection and stent system called Enroute as an aid to TCAR procedures.
Silk Road cleared just more than $109 million in its initial public offering in April, including a fully subscribed underwriters option.
The company also provided preliminary second-quarter results, estimating sales at $14.9 million, up from $7.8 million for Q2 2018. Silk Road also said it expects an operating loss of $6 million for the quarter ended June 30, 2019, up from a $4.8 million loss in the same quarter of last year.