By Will Feuer
Shares of Sharps Technology Inc. had dropped around 46% in midday trading Thursday, marking the company's trading debut.
The stock was down 45.9% at $2.30 a share by late morning.
On Wednesday, the medical-device maker priced its initial public offering at $4.25 a share, and said it would issue 3.75 million units.
The company makes the Sharps Provensa, a patented and Food and Drug Administration-cleared safety syringe. Co-founders Alan R. Blackman and Barry B. Berler invented the product, and Mr. Berler is chief technology officer.
Sharps has said it hasn't generated any revenue to date and posted a net loss of $4.7 million in 2021.
Write to Will Feuer at Will.Feuer@wsj.com
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