XDx IPO withdrawn due to volatile market
This article was originally published in Clinica
Molecular diagnostics firm XDx has pulled its $86m IPO from the Nasdaq Stock Exchange citing “current public market conditions” as the cause. The Brisbane, California-based company had originally intended to use funds from the IPO, which it filed in October 2007 (see Clinica No 1280, p 13), to fund commercialisation of its AlloMap HTx test for monitoring gene expression in processed blood samples of patient who have received heart transplants. XDx becomes the fifth medtech company to withdraw an IPO from the Nasdaq this year due to unfavourable conditions – most recently Salient Surgical Technologies pulled its offering (see Clinica No 1321, p 13).
You may also be interested in...
Alere’s professional diagnostics business helped the firm record overall revenue growth in the fourth quarter of 2010, offsetting a fall in influenza-based sales in North America.
Integra LifeSciences has gained exclusive worldwide rights from Stout Medical to develop and commercialise an expandable interbody fusion device.
Gen-Probe recently launched its Panther automated molecular diagnostics system in Europe with the aim of bringing another dimension to its product portfolio. Joseph Harvey met the firm’s CEO, Carl Hull, at the launch of the product in Frankfurt to find how high the firm has set its sights in the molecular diagnostics sector and how it is going to achieve its goals