Wednesday, October 31, 2018

Axonics Drops In IPO

Irvine-based Axonics Modulation Technologies, which is developing medical devices for treating overactive bladder, fecal incontinence, and urinary retention, has had its IPO debut, pricing its IPO last night at $15.00 per share. The company's stock dropping in trading on Wednesday, falling to around $14.85 in afternoon trading. Axonics sold 8,000,000 shares of its common stock in the offering. The company is now trading as AXNX on the Nasdaw Global Select market. Axonics was venture backed by BioDiscovery, Longitude Venture Partners, Cooperatieve Gilde Healthcare, the Alfred E. Mann Foundation, and others. The company had originally estimated its initial IPO range at between $14.00 and $18.00 per share.