SenoRx Inc., a medical device maker in Aliso Viejo, outlined terms of its pending initial public offering on Wednesday.
The maker of devices for detecting breast cancer said it plans to offer 5.5 million shares at $11 to $13.
At the high end, SenoRx would raise nearly $72 million, down from an earlier estimate of $86 million.
No date has been set for the offering yet.
EnCor, SenoRx’s lead product, allows doctors to obtain multiple breast biopsy samples through a single probe insertion.
SenoRx received regulatory clearance for EnCor in 2004 and started selling it in November.
Venture investors in SenoRx include De Novo Ventures of Menlo Park, Domain Associates in San Diego and MPM Capital, which has offices in South San Francisco, Germany and Cambridge, Mass.
Banc of America Securities LLC and SG Cowen & Co. are the underwriters on the pending offering. The company plans to use proceeds for sales, marketing, research and development.
SenoRx was established in 1998 and was known as BiopSolation Medical before changing its name. It had 94 employees as of the end of March, most in sales and marketing.
The company has applied to have its shares trade on the Nasdaq exchange under the ticker “SENO.”
