Valeritas (VLRX) Sees IPO Price of $14 - $16/Share

Valeritas, Inc. (Nadaq: VLRX) filed an amended registration with the U.S. SEC for an IPO of its Common Stock. The company plans to sell 5 million shares and sees an offering price of $14 - $16 per share. The offering is being made via Piper Jaffray, Leerink Partners, and Oppenheimer & Co.

Valeritas plans to list on the Nasdaq under the symbol, VLRX.

Brief financial statement: We commenced commercial sales of V-Go in the United States during 2012. In the second half of 2012, we began hiring sales representatives in selected U.S. markets. At the end of 2014, our sales team covered 63 territories primarily within the East, South, Midwest and Southwest regions of the United States. Our revenue increased from $0.6 million in 2012 to $6.2 million in 2013 and to $13.5 million in 2014, reflecting our territorial expansion. Our net loss was $87.6 million $65.6 million for the years ended December 31, 2013 and 2014, respectively. Our accumulated deficit as of December 31, 2014 was $310.7 million. Since launching V-Go, the total number of prescriptions for, and the number of patients using, V-Go have increased each quarter. Based on prescription data, we estimate there were approximately 83,000 V-Go prescriptions filled during the year ended December 31, 2014, and we estimate that approximately 13,000 patients with Type 2 diabetes were using V-Go as of December 31, 2014.

Valeritas is a commercial-stage medical technology company focused on developing innovative technologies to improve the health and quality of life of people with Type 2 diabetes.

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