Restoration Robotics IPO Up 41%

 

Restoration Robotics headquarters in San Jose.

Restoration Robotics headquarters in San Jose.

SAN JOSE — Restoration Robotics, Inc. (HAIR), went public today at $7 per share on the Nasdaq Stock Market. Shares in the company opened at $8.55 and finished the day at $9.92 for a 41.7% gain. Volume of shares traded was over 2.81 million.

Restoration Robotics is a medical device company developing and commercializing the ARTAS Robotic Hair Restoration System. The ARTAS system lets physicians control a robotic device that helps harvest hair follicles directly from the scalp for hair transplants.

As of June 30, 2017, the company has sold 89 ARTAS Systems in the U.S. and 144 internationally.

Restoration Robotics had revenues of $15.6 million in 2016 and net loss of $21.8 million.

The company sold 3,575,000 shares of common stock in today’s IPO.

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