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AutoGenomics eyes $86m from stock listing

This article was originally published in Clinica

Executive Summary

Molecular diagnostics firm AutoGenomics is targeting an $86.3m windfall by floating it shares on the Nasdaq Stock Exchange. The firm is intending to use the proceeds from the IPO to expand its commercial infrastructure and fund research and development activities, including the development of its Infiniti integrated molecular diagnostics system. The Infiniti system is designed to perform genetic testing for infectious diseases, cancer, genetic disorders, personalised medicine, cardiovascular disease, women’s health, newborn screening and central nervous system disorders. According to the Carlsbad, California-based firm, the US molecular diagnostics market is set to stand at $5.4bn in 2012. AutoGenomics will list under the ticker symbol “AGMX”.

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