CeriBell IPO: Stock price will be closely watched today as the AI brain-monitoring headband maker debuts on the Nasdaq

CeriBell, a neurodiagnostic startup, is going public on Friday with an initial public offering (IPO) expected to generate $180.3 million in proceeds. The company was founded in 2014 by Jane Chao, a former McKinsey consultant and biotech veteran, who serves as its CEO. CeriBell's AI-powered brain-reading platform detects seizures using a disposable headband and EEG portal, earning revenue from headband sales and subscription fees to hospitals. The company is based in Sunnyvale, California, and backed by investment firm TPG. CeriBell priced its shares at $17, higher than the estimated range of $14 to $16 a share, and will debut on the Nasdaq under the ticker symbol CBLL. Despite not being profitable yet, CeriBell's revenue grew and losses narrowed in 2023, with a net loss of $29.5 million on revenue of $45.2 million. Medtech-focused IPOs have been rare in recent quarters, but a report by JPMorgan suggests early signs of a recovery in the market. Investors and Wall Street will be closely watching CeriBell's stock price after its debut. CeriBell's IPO is seen as a significant event in the medtech industry, which has experienced a downturn in recent quarters. The company's successful IPO could signal a recovery in the medtech IPO market.