CapsoVision, Inc. (CP) increased its IPO’s size at pricing to 5.5 million shares – up from 5.25 million shares in the prospectus – and priced the deal at $5.00 – the low end of its $5.00-to-$5.50 price range – to raise $27.5 million on Tuesday night, July 1, 2025. In its NASDAQ debut today – Wednesday, July 2, 2025 – CapsoVision’s stock opened flat at $5.00 in late morning trading on volume of more than 600,000 shares. CapsoVision quickly spiked to its intraday high of $5.72 and then slipped back to trade at about $5.20 after 11:30 a.m. EDT today, after touching an intraday low of $4.51.
The Benchmark Company and Roth Capital were the joint book-runners.
CapsoVision, based in Saratoga, California, is a commercial-stage medical technology company that develops advanced imaging and artificial intelligence (“AI”) technologies deployed in its capsule endoscopy solutions to identify abnormalities of the gastrointestinal (“GI”) tract for diagnostic and screening purposes, according to the prospectus.
“We developed our first capsule endoscope system, currently comprising the CapsoCam Plus single-use capsule and the CapsoCloud and CapsoView software, to panoramically visualize the small-bowel mucosa to investigate abnormalities such as obscure GI bleeding and Crohn’s disease. The capsule acquires and stores video images in onboard memory while moving through the GI tract, and the software component allows healthcare providers to view the video retrieved from the capsule—either by streaming it from the cloud, where it is securely stored, to anywhere, at their convenience, using our CapsoCloud software, or downloading it from the capsule themselves and reviewing it in our CapsoView software,” CapsoVision said in the prospectus.
CapsoVision is developing its next pipeline capsule endoscope product, CapsoCam Colon, to detect polyps in the colon. The company expects to begin receiving revenues from its CapsoCam Colon product starting in the second half of 2026 after receiving FDA 510(k) clearance and in the European Union in early 2027 after receiving a CE Mark, according to the prospectus.
Potential new medical indications include pancreatic cancer and esophageal medical conditions such as esophageal varices and Barrett’s esophagus, CapsoVision said in the prospectus.
CapsoVision is not profitable, according to financial statements in the prospectus.
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