BioTrove aims to heal losses with $75m IPO
This article was originally published in Clinica
Genomic analysis specialist BioTrove is looking to combat anticipated operating losses by raising $75m via an IPO of its common shares. The company's net loss has doubled over the past two years - it recorded a net loss of $7.9m in 2005 and a deficit of approximately $16m last year. Despite generating revenue of $4.8m in 2007, the company was weighed down by around $17m of expenses linked to sales and marketing costs and the continued development of its platform technologies. On completion of the IPO, BioTrove will list its shares on the Nasdaq Stock Exchange under the ticker symbol "BTRV".