Pavmed last week dramatically trimmed its pending initial public offering, saying it plans to float 1.2 million shares at $5 apiece for gross proceeds of $6 million.
That’s a far cry from the $23 million top end Pavmed listed when it registered the IPO last May. Pavmed is developing devices in 5 areas, according to its IPO registration: The PortIO long-term implantable vascular access device; the Caldus line disposable tissue ablation devices, including renal denervation for hypertension; the CarpX percutaneous device to treat carpal tunnel syndrome; the NextCath self-anchoring short-term catheter; and the NextFlo disposable infusion pump.
