Categories Health Care, IPO

OptMed all set for $24 million IPO. Here’s what you need to know

As IPO activity picks up momentum after a lull, technology and healthcare companies are dominating the scene as usual. The upcoming initial public offering of medical device maker OptMed Inc. is one of the closely followed events of the year.

OptMed is planning to raise about $24 million through an initial public offering, as per a regulatory submission made by the company. It has applied to list the stock on the Nasdaq Capital Market under the symbol OMED. However, the management is yet to reveal the number of shares being offered and the offer price.


Read management/analysts’ comments on quarterly reports


EF Hutton is the underwriter for the offering. The company intends to use the net proceeds from the offering for product development, marketing activities, and repayment of debt. A part of the amount will be used for general corporate and working capital purposes.

ipo news

Surgical Adhesives

OptMed, a clinical-stage medical device company, is mainly engaged in the development of topical skin protectant products and surgical adhesives, with a focus on the treatment of patients with external and internal wounds. BondEase, one of the lead products, got FDA approval a few years ago. Since then, the company has upgraded the product constantly. Due to the changes, it is required to submit a new clearance application with regulators, which is expected to be done a few weeks after the IPO.


Everything you need to know about Ivanhoe Electric’s upcoming IPO


Besides BondEase, OptiMed is also developing TearRepair Liquid Skin Protectant, which is a topical protectant for fragile skin.

Founded in 2007, OptMed is headquartered in New York and is headed by chief executive officer Dr. Ervin Braun. Being part of a rapidly emerging segment of the healthcare industry, OptMed should be able to strengthen its foothold in the market. It is estimated that the global market for surgical sealants and adhesives would reach $2.8 billion by 2025. However, the company will have to compete with established players who enjoy an edge due to their stronger resources and better experience.

Key Metrics

In fiscal 2021, OptMed incurred a net loss of $4.38 million, compared to a loss of $3.38 million in the prior year. The bottom line was negatively impacted by a 13% increase in operating expenses to $2.84 million. The company is yet to generate revenues because it has not commercially launched any product so far. To a large extent, Its growth prospects would depend on obtaining regulatory approval for the lead products.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Micron Technology (MU) Q3 Earnings: Key financials and quarterly highlights

Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared

Constellation Brands (STZ): Earnings beat and share structure revamp put brewer in the spotlight

Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.

Infographic: Key highlights from Constellation Brands (STZ) Q1 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top