Impressive ASX debut for Somnomed

By Melissa Trudinger
Friday, 27 August, 2004

Sleep device company Somnomed (ASX: SOM) made an impressive debut on the ASX today, opening 30 per cent above the IPO issue price of AUD$0.30 at $0.40.

At the time of writing the company's shares were trading at $0.475, after reaching as high as $0.49.

Somnomed is commercialising a customised mandibular advancement splint device used to prevent snoring and mild to moderate sleep apnoea.

The company raised $12 million in an oversubscribed IPO and will use the funds to expand their production facilities to an initial capacity of 5000 devices annually, in addition to establishing accreditation programs for dentists, who will prescribe and fit the devices to patients.

Related News

Mouth bacteria linked to increased head and neck cancer risk

More than a dozen bacterial species that live in people's mouths have been linked to a...

Life expectancy gains are slowing, study finds

Life expectancy at birth in the world's longest-living populations has increased by an...

Towards safer epilepsy treatment for pregnant women

New research conducted in organoids is expected to provide pregnant women with epilepsy safer...


  • All content Copyright © 2024 Westwick-Farrow Pty Ltd