Latest news with #HingeHealth
Bloomberg
a day ago
- Business
- Bloomberg
Software Remains the Missing Ingredient in US IPO Rebound
May's string of successful technology company debuts is reigniting optimism that the once-prolific enterprise software sector will soon resurface as a significant contributor to the US deal mix. Robust initial public offerings last month from EToro Group Ltd., Hinge Health Inc. and MNTN Inc., as well as strong early demand for this week's IPOs from Circle Internet Group Inc. and Omada Health Inc., point to a much improved market for first-time stock sales from companies spanning fintech, digital health, adtech and crypto. Technology IPOs on US exchanges have raised $3.55 billion in the year to date, a slight increase on the same period last year, data compiled by Bloomberg show.
CNBC
5 days ago
- Business
- CNBC
Omada Health aims to go public with market cap of up to $1.1 billion
Omada Health plans to raise up to $158 million in its up coming IPO, attaining a market cap of about $1.1 billion at the top end of its expected range, according to a filing on Thursday. The virtual chronic care company filed its prospectus earlier this month, and has just updated the filing with an expected pricing range of $18 to $20 per share. Omada said it plans to sell 7.9 million shares in the offering. The size of the offering and share price could change, and the market cap could be higher on a fully diluted bases. The IPO is expected to take place next week. Omada, which offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension, will be the second digital health company to hit the market in a matter of weeks after an extended drought. Digital physical therapy startup Hinge Health debuted on the New York Stock Exchange earlier this month. Omada, based in San Francisco, describes its approach as a "between-visit care model" that is complementary to the broader health-care ecosystem, according to its prospectus. Sean Duffy, Omada's CEO, co-founded the company in 2012 with Andrew DiMichele and Adrian James, who have both moved on to other ventures. Omada's revenue increased 57% in its first quarter to $55 million from $35.1 million a year earlier, the filing said. For 2024, revenue rose 38% to $169.8 million from $122.8 million the previous year. The company's net loss narrowed to $9.4 million in the first quarter from $19 million a year ago. "To our prospective shareholders, thank you for learning more about Omada," Duffy said in the prospectus. I invite you to join our journey." The company will trade on the Nasdaq under the ticker symbol "OMDA." Morgan Stanley, Goldman Sachs and JPMorgan Chase are leading the offering. Omada's top shareholders are U.S. Venture Partners, Andreessen Horowitz and Fidelity.
Forbes
6 days ago
- Business
- Forbes
InnovationRx: Hinge May Herald A New Wave Of Digital Health IPOs
In this week's edition of InnovationRx, we look at how Hinge Health's successful IPO may be a trendsetter, Indian billionaire Kiran Mazumdar-Shaw's 'biosimilars' business, RFK's changes to Covid vaccine guidance and more. To get it in your inbox, subscribe here. Lex Annison, COO of Hinge Health, Gabriel Mecklenburg, executive chairman, Daniel Perez, CEO, Bianca Buck, head of investor relations, James Budge, CFO, and Jim Pursley, president, ring a ceremonial bell on the floor of the New York Stock Exchange during the company's IPO. © 2025 Bloomberg Finance LP Digital physical therapy company Hinge Health had its initial public offering last week, opening at $37.85. It's currently trading over 10% above that price, giving it a market cap of over $3.2 billion (though this is about half of its peak valuation in 2021). The company's product portfolio offers personalized care plans for patients with chronic conditions, as well as software that coordinates these plans with a patient's doctor. Virtual chronic care company Omada Health also filed to go public earlier this month, and that plus the success of Hinge's IPO may begin a new 'wave of digital health companies seeking a public listing following the COVID-19 pandemic,' Pitchbook analyst Aaron DeGagne wrote in a note last week. He identified several companies, including Spring Health, Zocdoc, Noom and Headspace, that 'will be closely watching Hinge Health's IPO outcome' to decide whether to start the process of going public this year. Kiran Mazumdar Guerin Blask for Forbes Kiran Mazumdar-Shaw's booming drug business started not in a laboratory but in a tin-roofed shed in Bengaluru, the city formerly known as Bangalore and the capital of the southern Indian state of Karnataka. Inside, the 25-year-old was using the knowledge she had learned studying beer brewing in Australia to ferment enzymes for customers like Ocean Spray cranberry juice. Originally she had wanted to be a brewer like her father, but it was 1978 and she couldn't find a job. No one wanted to hire a woman as a brewer. Distraught and disillusioned, Mazumdar-Shaw put her education to another use: making enzymes for industrial uses. In partnership with an Irish entrepreneur who owned a company called Biocon and was looking to expand to India, she set up shop inside that hot shed. 'I call myself an accidental entrepreneur,' she says. Today, Biocon, which is publicly traded in India, brings in $1.9 billion by selling dozens of generic drugs and 'biosimilar' medications. The company also does contract research for other companies through its publicly traded subsidiary Syngene. While Forbes Self-Made Women list includes only women from the United States, Mazumdar-Shaw would easily make the top 20 were she American. She is one of the world's wealthiest self-made female entrepreneurs, with a fortune that Forbes estimates to be $3.2 billion. The biggest part of her empire is a majority-owned private subsidiary called Biocon Biologics, which focuses on biosimilars and represents nearly 55% of the parent company's revenue. Akin to what generics are for chemically synthesized drugs, these cheaper alternatives mimic biologic drugs. As with generics, companies like Mazumdar-Shaw's are allowed to develop biosimilars after a brand-name drug's patents expire. 'These are very complex, expensive drugs, and therefore it's important that companies like ours focus on affordable access,' says Mazumdar-Shaw over tea served by a butler at her Manhattan apartment. Read more here. GSK and Spero Therapeutics announced that their phase 3 clinical trial of tebipenem HBr, an antibiotic geared towards treatment of UTIs, was stopped early after an interim analysis showed significant, positive results in the nearly 1,700 enrolled patients. An independent data monitoring committee recommended the halt, as the study met its primary endpoint of showing the drug was non-inferior to a combination of the antibiotics imipenem and cilastatin. The companies plan to submit the new antibiotic to the FDA for approval in the second half of this year. Plus: Gilgamesh Pharmaceuticals released positive topline results for its phase 2 clinical study of its drug candidate GM-2505 for the treatment of major depressive disorder, finding both rapid and durable decrease in symptoms for patients in the study. AI chatbots. Scribing tools. Insurance claims software. Electronic health records. Abhinav Shashank, cofounder and CEO of digital health startup Innovaccer, looks at all the new technology for healthcare providers and hospital systems and sees a big problem. 'Healthcare is the only place where technology came in and everything became more inefficient,' Shashank told Forbes. The problem is that large healthcare systems, which may have dozens of hospitals and thousands of physicians, have lots of data and a variety of tools to manage it, but no easy way to put them together. Last week, Innovaccer unveiled its solution to that problem: A new software platform called Gravity that's designed to be a one-stop shop for all those disparate tools and vast amounts of data. Read more here. Plus: Ambience Healthcare claims that a new study finds that its AI models reduce medical coding errors by over 25% compared to physicians. HHS Secretary Robert F. Kennedy, Jr. announced that the CDC would be dropping its recommendations for pregnant women and healthy children to receive Covid vaccines. This appears to be at odds with the FDA, which listed pregnancy as a reason for vaccination of people under 65 in its new guidance last week. Paul Offit, a vaccine expert at Children's Hospital of Pennsylvania, told Forbes that 'All this does is put children in harm's way and put pregnant women in harm's way.' RFK Jr. names familiar culprits for the 'sickest generation' in the first MAHA commission report on children's health. Some struggling biotechs are being dragged down by pricey leases, especially in industry hubs like Boston, San Francisco and San Diego. Eli Lilly is buying California-based SiteOne Therapeutics, which is developing a non-opioid pain drug, in a deal worth up to $1 billion. Neuralink, the Elon Musk-founded company developing brain-computer interfaces, has raised $600 million in a venture capital round valuing the company at $9 billion. Measles infections appear to be slowing down in Texas but they're ticking up in other states, including Iowa, which saw its first infection since 2019. Conservative groups are lobbying the Trump Administration for stricter guardrails around in vitro fertilization.
Yahoo
25-05-2025
- Business
- Yahoo
New Hope for IPOs
Brianne Lynch, Head of Market Insight at EquityZen, says the successful market debuts of eToro, MNTN, and Hinge Health are giving tech investors and startups hope for IPOs. Lynch explains why the secondary market will continue to be a liquidity option with Caroline Hyde on "Bloomberg Technology."
Yahoo
24-05-2025
- Business
- Yahoo
Why Hinge Health, Inc. (HNGE) Soared Today
We recently published a list of . In this article, we are going to take a look at where Hinge Health, Inc. (NYSE:HNGE) stands against other stocks that soared today. Hinge Health soared by 17.38 percent on its first day as a publicly-listed company, a reflection of strong investor confidence. During the intra-day trading, Hinge Health, Inc. (NYSE:HNGE) opened at $39.25, reached as high as $40.26 or a 25.8-percent upside from its initial public offering (IPO) price of $32, before traders took early profits to pull its stock price slightly lower towards the end. Following the IPO, Hinge Health, Inc. (NYSE:HNGE) successfully raised $273 million from the sale of 8.52 million shares out of the aggregate 13 million shares. A patient undergoing psilocybin therapy in a modern clinic, showing the cutting-edge mental health treatment. According to the company, proceeds from the offer will be used to satisfy tax withholding and remittance obligations related to the net issuance of its Class A and B common shares, in connection with the vesting and settlement of certain restricted stock units and performance-based restricted stock units. Founded in 2014, Hinge Health, Inc. (NYSE:HNGE) is a digital physical therapy startup based in San Francisco, California, which aims to help patients treat acute musculoskeletal injuries, chronic pain, and carry out post-surgery rehabilitation from anywhere. Overall, HNGE ranks 8th on our list of stocks that soared today. While we acknowledge the potential of HNGE, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HNGE and has 10,000% upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
