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.
Intact Vascular said yesterday that it named medical device veteran Bruce Shook as its new president & CEO.
Intersect ENT said today that it hopes to raise as much as $65 million in an initial public offering of 5 million shares.
June 24, 2014 by Arezu Sarvestani
Drug-eluting devices maker Intersect ENT hopes to raise as much as $80 million in a newly registered initial public offering, according to SEC documents filed this week.
Drug-delivery devices maker Intersect ENT touted FDA approval for its 2nd-generation Propel mini implant, a smaller version of its previously approved device for treating chronic sinusitis.
The newly approved Propel mini will be offered in select U.S. hospitals this month, with full nationwide launch expected in 2013 alongside a planned sales force expansion, according to a press release.
Intersect ENT Inc. announced a landmark win for its flagship Propel drug-eluting implant for treatment of chronic sinusitis.
The Palo Alto, Calif.-based company’s device claims to be the first of a new category of devices offering localized, controlled steroid delivery directly to sinus tissue.