Peloton, the digitally-connected bike and treadmill startup, announced Wednesday that it’s filed for a confidential IPO with the Securities and Exchange Commission (SEC).

The firm’s exercise platform connects users with health coaches and involves sleek video screens and training simulations. Prices are high-end – including thousands of dollars for the base equipment plus a monthly subscription – but the company’s advertising has been aggressive and ubiquitous.

As the nature of these sorts of public offering deals entails, Peloton didn’t have to announce details like the “number of shares to be offered and the price range for the proposed offering,” which have yet to be determined. Confidential IPOs have become increasingly popular, especially in the tech sector, as a way of dipping a firm’s toes into the public market pool without having to reveal too much (though, as Peloton did today, companies can announce the filing has been made).

A number of digital health companies are expected to delve into the public offering sphere in the coming years and even months, and don’t be surprised if some of them follow this same strategy. (Some widely rumored names include companies like diabetes maintenance firm Livongo and others.)

Read on for the day’s news.

DIGITAL HEALTH

Virta touts longer-term results for its diabetes prevention platform. Speaking of digital health upstarts - Virta announced its own updated study results for a diabetes prevention (and, according to the company, even reversal platform). The firm says that the new data (published in the Frontiers of Endocrinology) shows sustained reversal of type 2 diabetes after two years of the system's use. "At 2 years, Virta trial patients were able to discontinue 67% of T2D prescriptions. Learn more about the results from today's landmark paper publication here," Virta said in a press release.

INDICATIONS

Bristol-Myers shakes up its R&D unit after Celgene deal. Drug giant Bristol-Myers Squibb is making big changes in its R&D unit following its planned takeover of biotech Celgene. In the newly announced plans, the company said there will be a split of the early- and late-stage R&D groups. And the split will instill leadership from both Celgene and competitor Novartis, whose Samit Hirawat is expected to run the late-stage group. (FierceBiotech)

THE BIG PICTURE

Beverly Hills is pretty much ending tobacco sales. The city council of Beverly Hills, CA has voted to largely end tobacco sales in the city - including the prohibition of cigarette, cigar, e-cigarette, and snuff sales by 2021. Exceptions would be few and far between if enacted, including for certain cigar lounges and specialty tobacco delivery services. (Fortune)

Trump administration restricts fetal tissue research. Politico reports that the Trump administration's Department of Health and Human Services has delivered a victory to anti-abortion activists by restricting the use of fetal tissue obtained following abortions for federal research purposes. A number of states have pushed the boundaries of existing abortion laws in an effort to challenge Roe v. Wade. (Politico)

REQUIRED READING

Amazon Reveals Its Latest Delivery Drone Design, by Bloomberg

SoftBank Partner: Fundraising 'Environment Has Changed', by Michal Lev-Ram

Commentary: Private Insurers Are Afraid of Medicare for All. They Should Be Excited, by Flaviu Simihaian

Walmart CEO Calls for Raising the Federal Minimum Wage, by Bloomberg