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Medical device developer Emulate Therapeutics (EMTX) has applied to raise around $15 million through an IPO.
Emulate did not specify the number or price of shares to be offered, instead providing them in a table of fees that it wanted to raise about $15 million.
The company hopes to list its shares on the Nasdaq under the symbol EMTX. EF Hutton is acting as Lead Bookrunner.
Based in Washington, Emulate has developed patented technology that uses radio frequency waves to treat disease at the molecular level. The company believes the technology could be used to treat certain types of cancer, pain and mental illness. Its currently evaluating a device for the treatment of brain tumors.
Emulate is currently in the red. For the six months ended June 30, 2022, the Company reported a net loss of $13.8 million on revenue of $176,000.
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