Signal Genetics signals $25m IPO plans
This article was originally published in Clinica
Another medtech initial public offering is in the offing: this time, molecular diagnostic specialist Signal Genetics hopes to raise around $25m by offering 2.3 million shares at $10-12 each. At the midpoint of this range, this would give Signal a market cap of $53m. The New York-based firm plans to list on the Nasdaq market under the ticker symbol SGNL. Founded in 2010, Signal booked sales of $4.3m in 2013, down 2% year-on-year; but narrowed its net loss to $2.4m from $7.6m in 2012.