NEW YORK (GenomeWeb News) – Veracyte announced after the close of the market Monday that it has completed its initial public offering.

The firm went public last week offering 5 million shares at $13 per share. The IPO brought in net proceeds of $58 million.

Veracyte noted in its prospectus that it expected to use around $20 million of the proceeds for sales and marketing activities, including expansion of its sales force, $20 million for R&D, and the remainder for general and administrative expenses.

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The Atlantic reports that genetic counselors are coping with an influx of patients seeking advice on their direct-to-consumer genetic test results.

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