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Sonendo Priced, NYSE: SONX

Makes a medical device system for less-invasive root canal therapy.

Industry: Health Care

Latest Trade: $0.10 0.00 (0.0%)

First Day Return: -23.3%

Return from IPO: -99.2%

Industry: Health Care

We are a commercial-stage medical technology company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. We have developed the GentleWave System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. Our initial focus is on leveraging the GentleWave System, the first and only FDA-cleared system for root canal therapy, or RCT, that employs a sterilized, single-use procedure instrument, to transform RCT by addressing the limitations of conventional methods. The system utilizes our proprietary mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. The clinical benefits of our GentleWave System when compared to conventional methods of RCT include improved clinical outcomes, such as superior cleaning that is independent of root canal complexity and tooth anatomy, high and rapid rates of healing and minimal to no post-operative pain. In addition to the clinical benefits, the GentleWave System can improve the workflow and economics of dental practices. We began scaling commercialization of our current technology in 2017 and are focused on establishing the GentleWave Procedure as the standard of care for RCT. As of June 30, 2021, we had an installed base of over 700 GentleWave Systems and have treated more than 600,000 patients.
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IPO Data
IPO File Date 10/08/2021
Offer Price $12.00
Price Range $15.00 - $17.00
Offer Shares (mm) 7.8
Deal Size ($mm) $94
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/28/2021
Offer Price $12.00
Price Range $15.00 - $17.00
Offer Shares (mm) 7.8
Deal Size ($mm) $94
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
BofA Securities
Goldman Sachs
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Company Data
Headquarters Laguna Hills, CA, United States
Founded 2006
Employees 203
Website www.sonendo.com

Sonendo (SONX) Performance