Healthcare

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Investors are eyeballing Glaukos IPO

The size and price range have already been increased for Glaukos (GKOS), a medical technology company that plans to price their IPO on Wednesday. Their device is so small it defies imagination but is a proven treatment for glaucoma.  Three are several reasons the company is experiencing strong demand for their IPO: Clinical trials are done…

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What’s ailing MINDBODY?

MINDBODY (NASDAQ: MB) completed their IPO last week at $14, had a brief pop at the open to $15 and promptly traded down to $12. What gives? Isn’t this the “OpenTable (PCLN) of the health and fitness industry” as management states? Well maybe it is, maybe it isn’t. One thing for sure is that a…

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AutoGenomics just another science project

We’re as fascinated by genomics and “personalized medicine” as the next guy. Even Obama has the bug and touted the “Precision Medicine Initiative.” Genetic testing even made it into pop science in 2007 when Google invested nearly $4M in 23andMe to introduce a DIY genetic testing kit to the masses.  It was all going pretty well…

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Presbia puts your reading glasses in your eyeball

This deal caught our eye (sorry!) in part because we’re at the age where reading glasses are sometimes helpful – small print, low light. Put simply Presbia (NASDAQ: LENS) makes a small microlens which is then inserted into a small “pocket” added to the eyeball with a conventional laser. The lens is only 3.2mm in diameter with…

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Another synthetic biology company – Histogenics on deck

Histogenics (HSGX) may finally deliver an engineered cartilage that can make damaged knees good again. There are a range of new alternatives being developed but the positioning of Histogenics and their “NeoCart” is encouraging. They are enrolling patients for a Phase 3 trial for knee defects. [See the HSGX IPO roadshow slides for the full…

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Fat busting by injection

Neothetics (NEOT) is on the road now to fund the continued development of their injection-based approach to fat loss.  It’s a smallish deal of 4.3M shares with a $13-15 price range. Three mid-market banks: Piper Jaffray, Guggenheim and Needham are on the cover. Post-IPO there will be ~14M shares outstanding for a market capitalization of ~$200M at…

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AAC Holdings – American Addiction Centers

  Introduction It’s no secret that addictions ranging from food to drugs are a blight on the human condition. The CEO of AAC, Michael Cartwright, aims to provide a national network of centers dedicated to helping people recover from their struggles and lead a more normal life. Today the company operates seven treatment centers with…

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ReWalk Robotics IPO Exoskeletons For The Disabled

Positioning  ReWalk (RWLK) makes an FDA-approved exoskeleton that enables disabled people, even those mostly paralyzed, to walk upright. Exoskeletons have been a hotbed of research and development over the last decade and they are now entering commercialization. It’s still very early in the adoption cycle because these devices are new and expensive. The ReWalk, for…

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Trupanion (TRUP) Pet Insurance IPO

Today we are publishing our initial look at the upcoming Trupanion (TRUP) IPO. In summary this is a story and a market we really like but our intrinsic valuation (IV) estimates are close to the proposed price of the IPO. From an investment standpoint we’d like to get a better entry price.  Pets are certainly…

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Minerva doesn’t get much activation

Last night Minerva (NERV) priced their IPO deep in the hole at $6/share with Jefferies leading the deal along with decent co-managers Baird and JMP. The shares have opened for trading quietly and are changing hands at $6.16. This is an early/mid-stage biotechnology company which means commercial success is far off but the areas the company…

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