Financings in Brief: VidaMed
This article was originally published in The Gray Sheet
Executive Summary
VidaMed: Going public in an offering of 2.5 mil. shares of common stock, expected to be sold for about $10 per share. The Menlo Park, California-based developer of the TUNA transurethral needle ablation radiofrequency system expects to net about $22.6 mil. from the offering, $5 mil. of which is earmarked to fund ongoing clinical trials of TUNA for treatment of benign prostate hyperplasia. VidaMed started enrollment last fall for a 200-patient, blinded, randomized U.S. clinical trial of its system ("The Gray Sheet" Oct. 24, 1994, I&W-2). According to a prospectus for the IPO, approximately 50 patients have been enrolled in the trial thus far.