Skip to main content
Premium Trial:

Request an Annual Quote

Veracyte Nets $58M in IPO

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.

The South San Francisco, Calif.-based firm launched its first commercial products, the Afirma Thyroid FNA Analysis test, in early 2011. It combines cytopathology with the firm's Afirma Gene Expression Classifier gene expression test, which includes a 142-gene signature, for assessing thyroid nodule fine needle aspirate biopsies that are neither clearly benign nor malignant based on cytology review.

Veracyte is the latest in a string of omics tools and molecular diagnostics developers to go public within the latest year. That group includes Foundation Medicine, which went public in September, and NanoString Technologies, which floated in June.

In early Tuesday trade on the Nasdaq, shares of Veracyte were down a fraction of 1 percent at $12.77.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.