Investor Alert

Nov. 25, 2020, 2:57 p.m. EST

Biochemical analysis company 908 Devices files to go public

908 Devices Inc., a Boston-based biochemical analysis company, has filed to go public on the Nasdaq, under the ticker symbol "MASS." The company has not yet determined the number of shares to offer in the initial public offering or the expected pricing range. Cowen, SVB Leerink, William Blair and Stifel are the joint book-running managers. That company, which makes handheld and desktop spectrometry instruments, recorded a net loss of $2.7 million on revenue of $21.2 million over the nine months ended Sept. 30, after a loss of $13.0 million on revenue of $9.6 million in the same period a year ago. The company is looking to go public at a time of healthy investor demand for IPOs, as the Renaissance IPO ETF (PSE:IPO) has soared 31.0% over the past three months while the S&P 500 (S&P:SPX) has gained 5.4%.

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