- Infraredx (REDX) is set for its IPO of 4M shares of common stock at $13 - 15.
- The commercial stage medical device firm develops cardiovascular imaging products for the diagnosis and treatment of coronary artery disease. Its principal product is its dual-modality NIRS-IVUS TVC Imaging System which is the only FDA-cleared technology capable of reliably and rapidly identifying lipid core coronary plaques (LCPs). LCPs are known to complicate stenting procedures and are suspected to be the vulnerable plaques that cause most heart attacks.
- IVUS, intravascular ultrasound, shows the structure of the plaque while NIRS, near-infrared spectroscopy, provides information on the lipid content of the plaque, including the presence or absence of an LCP in an individual patient.
- Financial performance:
- 2014 (9 mo.) ($000): Revenues: 3,675 (+99.3%); Operating Expenses: 19,429 (+30.3%); Net Loss: (24,500) (-25.5%); CF Ops: (22,678) (-19.1%).
- 2013: Revenues: 2,682 (+1.7%); Operating Expenses: 20,446 (+22.2%); Net Loss: (32,062) (-6.0%); CF Ops: (25,940) (-38.3%).