UPDATE: Silk Road Medical prices $120m IPO

Updated to include comment from CEO Erica Rogers Silk Road Medical late yesterday priced its initial public offering, looking to raise approximately $120 million. The Sunnyvale, Calif.-based company said it plans to float 6 million shares of its common stock at a price of $20 per share. The offering also includes a 30-day underwriters option to purchase an additional 900,000 shares of common stock. Silk Road Medical produces the Enroute transcarotid neuroprotection and stent system, which is intended for use during the transcarotid artery revascularization procedure, or TCAR. “The Enroute system is part of the devices that are used in a procedure called TCAR, a new minimally invasive, technologically advanced procedure for the treatment of carotid artery disease. It’s really the first advancement in the treatment of carotid artery disease up against a gold standard that has been in place for almost 65 years,” prez & CEO Erica Rogers told MassDevice.com in an interview. The Enroute device and associated TCAR procedure are meant to provide a less invasive alternative to carotid endarterectomy, Rogers said. She is hopeful that the TCAR procedure will reduce overall morbidity and mortality as compared to open surgery. “We are very interested in reducing the burden of stroke in the United States, and as well, ultimately elsewhere. We feel like we’re just getting started on this mission and funds will be used to allow us to continue our mission in reducin...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Vascular Wall Street Beat Silk Road Medical Inc. Source Type: news