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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
D. Medical (NASDAQ:DMED): is an Israeli based biotechnology company which researches, develops, makes and sells devices to help the treatment and delivery of drugs for diabetes. The company focuses on insulin pumps, which deliver consistent dosages of insulin into a patients bloodstream overtime. While insulin pumps are currently available for sale, D. Medical's pumps rely on springs which are far cheaper than the standard motor driven pump. The company has developed both durable and nondurable pumps.[1]
While D. Medical is focused mostly in Europe, it also plans to focus on expanding into Mexico and the emerging markets, "BRIC" countries (Brazil, Russia, India, and China). They have already reached distribution agreements in Mexico and in China.[2] DMED plans to focus on these developing regions, such as the Western Pacific (which includes China), which has 4.8 times the number of diabetics than North America, but spends only 18% of what North Americans spend on healthcare. The company expects to take advantage of the rising income and awareness in these regions to sell their cheaper insulin pumps.[3]
The company's initial public offering of stock is filed on the NASDAQ and occurred on August 4th, 2010. Its initial price range is $10-$12, but the company priced far below the range at $7. The company planed to offer 1.88M, but also cut the offer size down to 1.5M. While the deal was originally supposed to be worth approximately $21M, it ended up being $10.5M. The lead underwriters of the deal are Rodman & Renshaw Capital (RODM) and ThinkEquity.[4]
D. Medical has began generating revenue in 2009 as its first pump entered the market. However, the company only has generated $99K in 2009 in revenue due to its recent launch. The company's expenses also fell slightly causing net income to rise from -21M NIS (Israeli New Shekel) down to -19M NIS. This slightly drop in expenses is due to a decrease in research and development costs.[5]
References
- ↑ DMED F-1/A 2010 "Prospectus Summary" pg 1
- ↑ DMED F-1/A 2010 "Business Overview" pg 82
- ↑ DMED F-1/A 2010 "Worldwide Prevalence of Diabetes" pg 76
- ↑ Renaissance IPO - D. Medical (DMED)
- ↑ TSRX S-1A 2010 "Consolidated Statements of Comprehensive Loss Data" pg 64
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