http://www.biospace.com/news_company...mpanyID=917120
Aug. 8, 2006, 11:18AM
Xtent Files for IPO
© 2006 The Associated Press
WASHINGTON — Xtent Inc. has registered for an initial public offering of up to $103.5 million in common stock, according to a filing with the Securities and Exchange Commission.
The Menlo Park, Calif.-based firm is a development-stage medical device company. It develops drug eluting stent systems for the treatment of coronary artery disease.
Xtent didn't disclose in Monday's filing how many shares will be offered, nor did it provide an estimated price range for the IPO.
The company said it intends to use the net proceeds of this offering for clinical trials, research and development activities, building commercialization infrastructure, working capital and general corporate purposes.
The company said it plans to list its stock on the Nasdaq Global Market, under the symbol XTNT.
For the three months ended March 31, the company posted a net loss of $4.1 million, widening from a net loss $3.1 million for the same period a year earlier.
The $103.5 million valuation for the IPO was estimated solely for calculating the registration fee, the filing said. Often, the eventual price terms of an IPO differ substantially from the valuation in the first registration.
Piper Jaffray, Cowen & Co., Lazard Capital Markets and RBC Capital Markets are listed as underwriters for the offering.