Outset Medical, a San Jose, California-based medtech upstart, has filed a formal prospectus to go public with the U.S. Securities and Exchanges Commission. Investment banks including Morgan Stanley, Goldman Sachs, and BofA Securities are acting as underwriters for the company’s public offering. Outset Medical is looking to go public 17 years after its founding and with more than $400 million in equity and debt funding raised as a private company. The company’s most recent financing round came in February of this year; a $125 million Series E led by D1 Capital Partners.

Outset’s flagship product is the Tablo Hemodialysis system used by medical centers across the U.S. The company’s hemodialysis machine is specifically designed to reduce the cost and complexity of dialysis for patients with kidney problems, requiring only an electrical outlet and tap water to operate manually. Outset Medical recorded sales of $15 million in 2019, compared to just $2 million in the year before. The company isn’t profitable, with losses of roughly $68 million in 2019 and $50 million in the year before. For the first six months of this year, Outset recorded $18.9 million in sales, more than triple year-over-year.

As of June end, Outset had $148 million in cash on its balance sheet. The company currently employs nearly 300 people, an ideal workforce given its scale.