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Financings in Brief: UroMed

This article was originally published in The Gray Sheet

Executive Summary

UroMed: Files registration statement with the Securities and Exchange Commission for a secondary offering of 2.5 mil. shares, all of which are being offered by the company. On Oct. 18, the day the plans were announced, the issue closed at $10 a share. PaineWebber and Vector Securities International are managing the offering. Multi-center interim study results of the firm's first product, the Reliance female urinary incontinence device ("The Gray Sheet" Sept. 11, p. 10), were presented Oct. 12 at the American Urogynecologic Society annual scientific meeting ("The Gray Sheet" Oct. 16, In Brief). In its third quarter (ended Sept. 30), UroMed recorded its first-ever revenues of $404,662, which included sales of the Reliance device in Germany. UroMed booked a loss of $2.3 mil. for the period...

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