Wall Street doesn't typically embrace med-tech IPOs for companies without at least one product on the market that's generating significant revenues. But even in a volatile stock market, it's made an exception for Axonics Modulation Technologies Inc. The clinical-stage med-tech firm has raised $120 million in an IPO to back its rechargeable sacral neuromodulation (r-SNM) system to treat patients with overactive bladder (OAB), fecal incontinence (FI) or urinary retention (UR).

The FDA granted breakthrough device designation for Cerus Corp.'s pathogen-reduced cryoprecipitate product candidate. The basis of the designation for the Concord, Calif.-based company's product is improved treatment of massive hemorrhage.