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Healthcare IPOs For The Week Ahead

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In the healthcare sector, 6 companies made their debut on the NASDAQ last month. Let's take a look at what's in store on the U.S. healthcare IPOs scheduled for the week ahead.

BioVie Inc.

BioVie, Inc., formerly NanoAntibiotics Inc., is a clinical-stage company developing innovative drug therapies for the treatment of chronic liver diseases.

Founded in 2013, the company is scheduled to list its IPO on the Nasdaq Global Market under the symbol "BIVI" on August 7, 2019. The company's stock currently trades on the OTCQB under the ticker BIVI.

BioVie has offered to sell 1.26 million shares of common stock in the offering at a price of $11.88 per share.

Underwriters:

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the representative of the underwriters of the offering. The underwriters have an option for 45 days to purchase up to 189 thousand additional shares.

Pipeline:

The Company's therapeutic product candidate BIV201 (continuous infusion terlipressin) is currently being developed for the treatment of ascites due to chronic liver cirrhosis from hepatitis, non-alcoholic steatohepatitis [NASH], or alcoholism.

Terlipressin is currently approved for marketing in about 40 countries except in the U.S.

In April 2019, the company announced top-line results for Phase 2a clinical trial of BIV201 in six patients with refractory ascites due to advanced liver cirrhosis.

Terlipressin will advance into Phase 2b/3 trials, if the company gets the go-ahead from the FDA.

Financial Status:

The company's net loss attributable to Company stockholders for the nine months ended March 31, 2019 narrowed to $1.84 million or $0.73 per share from $1.86 million or $2.44 per share in the comparable year-ago period. The company has no products approved for commercial sale and, to date, no revenue has been generated.

InMode Ltd

Yokneam, Israel-based InMode Ltd. is a global provider of innovative, energy-based, minimally-invasive surgical aesthetic and medical treatment solutions.

Founded in 2008, the company is scheduled to list its common stock on The Nasdaq Global Market under the symbol "INMD" on August 8, 2019.

InMode Ltd. has offered to sell 5.0 million shares in the offering. The initial public offering price is expected to be between $14.00 and $16.00 per share.

The company has granted the underwriters an option for 30 days to purchase up to 750 thousand additional shares.

Underwriters of the IPO:

Barclays Capital, UBS Securities LLC, Canaccord Genuity LLC and?Robert W. Baird & Co

Products and marketing:

The company's products and solutions are primarily designed to address three energy-based treatment categories comprised of face and body contouring; medical aesthetics; and women's health.

The company has received 18 FDA clearances and, in addition to the United States, with over 2,400 customers, which include plastic surgeons, dermatologists, and aesthetic obstetricians/gynecologists.

The company sells its products directly in the United States, Canada, United Kingdom, Spain and India, and indirectly through third-party distributors in other countries.

It has plans to establish a sales & marketing organization in Europe, and also plans to expand its customer base, including ENTs, ophthalmologists, general practitioners and aesthetic clinicians.

Financial Numbers:

The annual net income in 2018 was $22.36 million or $0.62 per share compared to $8.82 million or $0.26 per share in 2017. Revenue in 2018 jumped to $100 million from $53.45 million in 2017.

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