IPO Profile

Avedro Inc (AVDR)

Offer Price
$14.00
Offer Size
5,000,000
3-Year Outlook
Positive
Volatility
High
First Day Turnover
68.22%

Description

We are a leading commercial-stage ophthalmic medical technology company focused on treating corneal ectatic disorders and improving vision to reduce dependency on eyeglasses or contact lenses. Our proprietary Avedro Corneal Remodeling Platform is designed to strengthen, stabilize and reshape the cornea utilizing corneal cross-linking in minimally invasive and non-invasive outpatient procedures to treat corneal ectatic disorders and correct refractive conditions, which are caused by changes in the shape of the eye that prevent light from focusing on the retina, causing blurred vision.

We sell our products primarily to ophthalmologists, hospitals and ambulatory surgery centers, or ASCs. The physicians primarily involved in corneal cross-linking are ophthalmologists who are either corneal specialists or trained in refractive procedures. According to Market Scope estimates, there are approximately 1,100 corneal refractive centers in the United States. Of these centers, we estimate there are approximately 800 centers in which a majority of cataract and refractive surgeons, as well as corneal specialists who treat keratoconus, are located. As of September 30, 2018, our KXL systems are placed in 305 centers

 

Investors Pre-IPO Holdings (%)
Google Ventures 30
Intel Ventures 20
Patricoff Ventures 5
Kleiner Perkins 18

Deal Highlights

Deal Tracker

Filing Date   18 Jan, 2019
Price Date   14 Feb, 2019
Offer Price $14.00
Offer Size 5M
Look Up Expiry Date   14 Aug, 2019
Earnings Release Date   Nov 1, 2018