By Josh Beckerman
Monogram Orthopaedics shares, after surging in their first two days on Nasdaq, were down 36% to $8.61 Monday.
Monogram, which is developing 3D-printed orthopedic implants, raised capital through crowdfunding. After an offering of 2.37 million shares for $7.25 each, shares debuted on Nasdaq Thursday, closing at $11.75.
The next day, the stock had an intraday high of $48.99 and closed at $13.50.
Monogram’s website said the company is developing “3D-printed implants tailored to each patient’s anatomy with the robotic precision needed to install them,” which is intended to provide “a more stable, better-fitting knee replacement with fewer incisions.”
Write to Josh Beckerman at josh.beckerman@wsj.com
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