Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Veracyte stock dips after $65m IPO

This article was originally published in Clinica

Executive Summary

Molecular diagnostic firm Veracyte has succeeded in going public, but the amount raised fell slightly short of expectations, and its share price dipped in its second day of trading. The company pulled in $65m, offering five million shares at $13 apiece, the low end of the $13-15 offer price range (www.clinica.co.uk, 22 October 2013). Veracyte’s stock, listed on the Nasdaq market under the ticker symbol VCYT, closed at $13.25 on 30 October, its first day of trading – but had fallen 6% to $12.39 by the end of the following day. The company has also granted the underwriters a 30-day option to purchase up to 750,000 additional shares. The offering is expected to close on 4 November. San Francisco, California-based Veracyte’s flagship product, the Afirma Thyroid FNA Analysis, evaluates 142 genes to determine whether thyroid cancer of uncertain prognosis can be reclassified as benign. The company launched the test in January 2011.

Advertisement

Topics

Advertisement
UsernamePublicRestriction

Register

MT101042

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel