Biotech Values

[DewDiligence]

Thermage Sets Range for IPO

[This IPO has been delayed about two years on account of slower than expected sales and possibly other problems. Thermage uses RF energy to supposedly tighten collagen and improve facial appearance. However, there are no controlled studies to demonstrate efficacy and the procedure—which is long, painful, and expensive—may not actually do much of anything. (For a skeptical view, please see #msg-11593419.) I will not be buying shares at the IPO.]

http://today.reuters.com/news/articleinvesting.aspx?type=governmentFilingsNews&storyID=2006-10-2...

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Tue Oct 24, 2006 5:17 PM ET

WASHINGTON, Oct 24 (Reuters) - Thermage Inc., a wrinkle treatment medical company, filed with the U.S. Securities and Exchange Commission on Tuesday to sell up to 6 million shares for between $11 and $13 in an initial public offering. Underwriters, led by Merrill Lynch & Co., have the option to buy an additional 900,000 shares to cover over-allotments, according to the SEC filing.

The Haywood, California-based company has been approved for a Nasdaq listing under the symbol THRM .
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