Acutus Medical Inc. posted strong results for the third quarter of 2020, despite the ongoing uncertainties of the COVID-19 pandemic. Sales for the quarter totaled $3.2 million, up 180% sequentially and 391% when compared with the same period in 2019.
Despite the ongoing pandemic, Acutus Medical Inc. (NASDAQ:AFIB) decided to go down the IPO route. It officially started trading today after reporting its offering of more than 8.8 million shares of its common stock at $18 per share, with expected gross proceeds of $158.8 million. Last month, the Carlsbad, Calif.-based company estimated that the IPO price per share would be between $16 and $18.
Acutus Medical Inc. is working to build itself into a major competitor in cardiac electrophysiology. The latest step to do so is an FDA clearance for its second-generation cardiac mapping software known as Supermap. This works in conjunction with its next-gen Acqmap 3D Imaging and Mapping System. The Carlsbad, Calif.-based startup, which was founded in 2011, is now marketing these in both the U.S. and Europe, where Supermap received a CE mark in October 2019.