Epocrates, a developer of mobile drug reference tools, registers for a $75 million initial public offering — again.
Epocrates Inc. plans to go public — again.
The company last week filed for an initial public offering that could bring in as much as $75 million, according to a Securities & Exchange Commission filing. Epocrates makes reference and interactive tools designed for both healthcare providers and patients for mobile platforms such as Google’s (NSDQ:GOOG) Android or Apple’s (NSDQ:AAPL) iPhone.
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It’s the second stab at an IPO for the San Mateo, Calif.-based company, which filed for a $75 million offering in 2008 before pulling it back as the economy cratered.
Epocrates will trade on the NASDAQ exchange under the ticker symbol EPOC, according to the filing.
The quest for funding comes at a time when Epocrates is planning to roll out an electronic medical records application this fall.
Epocrates posted net sales of $24.3 million during the three months ended March 31, down 1.6 percent compared with $24.7 million during the same period last year. The company posted a net loss attributable to shareholders of $855,000, or 9 cents per diluted share, during the quarter, compared with net income attributable to shareholders of $1.1 million, or 9 cents per diluted share, during the prior year’s quarter.
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MassDevice Staff Website The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
Here’s a look at the company’s net revenues and income (or loss) dating back to 2005 (in thousands):
| 2005 | 2006 | 2007 | 2008 | 2009 | |
| Net revenues | $32,536 | $49,517 | $65,611 | $83,345 | $93,654 |
| Net income (loss) available to common stockholders—diluted | $(6,648) | $(5,195) | $8,474 | $1,840 | $1,908 |
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
