FocalTherics shares slid after the company priced its underwritten public offering and shared soft preliminary results for the second quarter.

The stock fell 17% to $4.98 in premarket trading Wednesday. Through the prior close, shares were up 49%.

The medical device maker said it is pricing its offering of more than 8.4 million American Depositary Shares at $4.75 apiece.

FocalTherics plans to sell all the shares and grant underwriters a 30-day option to buy up to an additional 1.3 million ADSs at the same price.

The gross proceeds are estimated to be $40 million, with the closing set for Aug. 14.

Separately, FocalTheracs said it expects to post $12.7 million to $13.2 million in revenue during the second quarter. Analysts are projecting $15.1 million in sales.

The preliminary results reflect FocalTherics' extracorporeal shock wave lithotripsy and distribution segments as discontinued operations.