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Avedro Priced, Nasdaq: AVDR

Sells ophthalmic medical systems used in treating corneal disorders.

Industry: Health Care

Latest Trade: $21.17 0.00 (0.0%)

First Day Return: -12.2%

Return from IPO: +51.2%

Industry: Health Care

We are a leading commercial-stage ophthalmic medical technology company focused on treating corneal ectatic disorders and improving vision. Our proprietary Avedro Corneal Remodeling Platform is designed to strengthen, stabilize and reshape the cornea utilizing corneal cross-linking in minimally invasive and non-invasive outpatient procedures to treat corneal ectatic disorders and correct refractive conditions. Our platform is comprised of our KXL and Mosaic systems, each of which delivers UVA light, and a suite of proprietary single-use riboflavin drug formulations, which, when applied together to the cornea, induce a biochemical reaction called corneal cross-linking. Our KXL system in combination with our Photrexa drug formulations, is the first and only minimally invasive product offering approved by the FDA, indicated for the treatment of progressive keratoconus and corneal ectasia following refractive surgery. Additionally, the FDA granted us orphan drug designations and we have orphan drug exclusivity until 2023 that covers our Photrexa formulations used with our KXL system. We have obtained a CE mark for our Mosaic system, which allows it to be marketed throughout the European Union. The Mosaic System is capable of performing vision correction procedures and treating corneal ectatic disorders and we began a targeted international launch in late 2017.
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IPO News for Avedro
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IPO Data
IPO File Date 01/18/2019
Offer Price $14.00
Price Range $14.00 - $16.00
Offer Shares (mm) 5.0
Deal Size ($mm) $70
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/13/2019
Offer Price $14.00
Price Range $14.00 - $16.00
Offer Shares (mm) 5.0
Deal Size ($mm) $70
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Waltham, MA
Founded 2002
Employees 122
Website www.avedro.com