Cryocor Prices IPO

San Diego-based Cryocor has priced an initial public offering of 3,709,390 shares of common stock at $11.00 per share, according to the company and filings through the SEC. The IPO is expected to raise $40M for the firm. Cryocor develops disposable catheter systems for the treatment of cardiac arrhythmia. Cryocor reported a net loss of $3.5M on revenues of $329,000 for the quarter ending March 31st, and in its S-1 prospectus says that the company expects to continue to incur significant and increasing operating losses in the next several years. The IPO is being managed by WR Hambrecht + Co, First Albany Capital, and Roth Capital.