EnteroMedics and its risky obesity device, the latest victims of the IPO haircut
(UPDATED: See below.)
(NOTE: This item was originally published as part of today’s life-sciences briefing.)
EnteroMedics, a St. Paul, Minn., device maker working on a neuromodulation implant for treating obesity, slashed its expected IPO pricing by half, lowering it to a range of $8 to $9 instead of its earlier estimate of $14 to $16. The company’s latest SEC fliing is here; under the new terms, EnteroMedics can raise at most $51.8 million, down from the $92 million… Continue Reading