NEW YORK (CNNfn) - Given Imaging ended the initial public offering shutout last week, and this week TheraSense Inc. is hoping to keep the trend going.|
TheraSense, which makes glucose self-monitoring systems for people with diabetes, is looking to raise $114 million through lead underwriter U.S. Bancorp Piper Jaffray.
Mike Falbo, IPO analyst with IPOPros.com, said that looking at comparable companies such as MiniMed Inc. (MNMD: Research, Estimates), the offering is positioned to do well.
"There's huge market potential and they've received FDA (U.S. Food and Drug Administration) clearance already," Falbo said. "We think it will perform pretty well with a first-day premium."
Falbo said another positive is that the IPO market has been very receptive to medical and pharmaceutical offerings.
TheraSense plans to price 6 million shares between $18 and $20 on the Nasdaq. The company will trade as "THER."