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Financings in Brief: Possis Medical

This article was originally published in The Gray Sheet

Executive Summary

Possis Medical: Net proceeds reach approximately $26.7 mil. from secondary offering which became effective Oct. 2 ("The Gray Sheet" Oct. 16, p. 6). Underwriters Dain Bosworth and John G. Kinnard & Co. exercised their over-allotment option for 221,258 shares beyond the initial 1.9 mil. shares offered, increasing the proceeds from the financing. The Minneapolis-based firm's AngioJet thrombectomy system commenced U.S. Phase I clinical trials in June for coronary applications. The final phase of U.S. trials for peripheral use and graft applications is under way and a 510(k) submission is planned for January 1996. The first European use of the coronary system was announced Nov. 2...
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