Silk Road Medical soars in upsized IPO
Posted on April 04, 2019 by Medtech[y] Staff
At the time of writing, Silk Road Medical was up over 81% on their first day of trading after raising $120 million in an upsized IPO. The stock is listed on the Nasdaq and opened at $33,15 under the ticker, "SILK."
Silk Road Medical is based in Sunnyvale, CA and is focused on a new approach in the treatment of carotid artery diseased called TCAR, or transcarotid artery revascularization.
What is TCAR?
“The Enroute system is part of the devices that are used in a procedure called TCAR, a new minimally invasive, technologically advanced procedure for the treatment of carotid artery disease. It’s really the first advancement in the treatment of carotid artery disease up against a gold standard that has been in place for almost 65 years,” said Erica Rogers, Silk Road Medical President & CEO, in an exclusive interview with MassDevice.
Additionally, Silk Road Medical plans on using the IPO proceeds to increase R&D, including new trials and expand its sales force.
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