The IPOX® Watch - Doximity
Company Description
Founded in 2010 under the name 3MD Communications, Doximity, Inc is a digital platform for U.S. medical professionals, headquartered in San Francisco, CA. The networking platform enables doctors to search, connect and collaborate with colleagues and specialists, coordinate patient care and streamline referrals, conduct virtual patient visits, and access up-to-date medical news and research. The company also provides Marketing, Hiring and Telehealth Solutions for pharmaceuticals, hospitals, health systems, and medical recruiting firms.
Doximity generates revenue from modules/solution subscriptions from pharmaceutical manufacturers, hospitals, and healthcare systems.
IPO History
On 06/24/2021, Doximity Inc began trading on the NYSE led by Morgan Stanley. The medical professionals network platform offered 23.3 million shares (include 4,289,250 shares from selling stockholder - InterWest Partners) at $26.00 per share, above its expected price range ($20 - $23). Doximity was valued at ca. $4.63 billion at offer with the 15% over-allotment option fully exercised. The shares opened at $41.17 and closed the first day higher at $53.00 (+103.85%).
Doximity Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 03/21/2022, and currently weighs ca. 0.16% of the portfolio.
