Wall Street has stabilized enough after the recent pandemic-induced volatility to offer enthusiastic support to a med tech generating significant revenue that already reached breakeven during the first quarter. Inari Medical Inc. priced its IPO at the top of an already upwardly revised range to raise $156 million. It sold 8.2 million shares at $19, above the prior range of $17 to $18. Shares of the Irvine, Calif.-based company (NASDAQ:NARI) then more than doubled to hit about $43 on its first day of trading.
The mechanical removal of clots from the brain has become increasingly standard in ischemic stroke cases. Last year, the American Heart Association/American Stroke Association guidelines expanded the recommended window for its use up to 24 hours an event. Aspiration-based device stroke treatment startup Imperative Care Inc. has now raised an $85 million series C round to back the marketing of two recently cleared products on this front.