An announcement from Iridex ( (IRIX) ) is now available.
On March 19, 2025, Iridex Corporation announced the closing of a strategic investment with Novel Inspiration International Co., Ltd., resulting in $10 million in gross proceeds and an option for an additional $10 million for future growth initiatives. This transaction, which includes the sale of Series B Preferred Stock and convertible notes, aims to enhance Iridex’s ability to pursue opportunities in advanced laser-based treatments, particularly for glaucoma, following changes in reimbursement policies for certain surgical devices. Additionally, the company appointed Romeo Dizon as Chief Financial Officer, replacing Fuad Ahmad, as part of its strategic review process.
More about Iridex
Iridex Corporation is a global leader in developing, manufacturing, and marketing innovative laser-based medical systems and devices for the ophthalmology market. The company’s proprietary MicroPulse® technology offers safe and effective treatments for eye conditions such as glaucoma and diabetic macular edema. Iridex’s products are distributed in the United States through a direct sales force and internationally via independent distributors in over 100 countries.
YTD Price Performance: -56.28%
Average Trading Volume: 55,513
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $16.8M
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