Skip to main content
Premium Trial:

Request an Annual Quote

Sophia Genetics Increases IPO Target to $221M

NEW YORK – Sophia Genetics has priced its initial public offering of 13 million common shares at $17 to $19 per share, for anticipated gross proceeds of $221 million to $247 million before underwriting discounts, commissions, and other expenses. The firm expects to hold its IPO July 23.

The bioinformatics company, with twin headquarters in Saint-Sulpice, Switzerland, and in Boston, disclosed its IPO price range in an amended registration statement filed Monday with the US Securities and Exchange Commission. Sophia said earlier this month that its IPO would raise no more than $100 million.

In the filing, Sophia said that Instrumentarium Holdings would purchase $20 million common shares in a private placement at the same per-share price as the IPO.

As previously announced, the shares will trade on the Nasdaq Global Select Market under the ticker symbol SOPH. J.P. Morgan, Morgan Stanley, Cowen, and Credit Suisse are serving as joint bookrunning managers for the offering.

Sophia has raised at least $251 million in private equity, most recently in a $110 million Series F round that closed in October. The Swiss-American company offers a core genomic analytics platform called Data Driven Medicine, or DDM, to support all of its analytics pipelines and builds components including artificial intelligence technology for predicting variant pathogenicity.

In its SEC filing, the firm reported nearly $9 million in revenues during the first quarter of 2021. That is 20 percent higher than the $7.5 million booked in the same period a year earlier.

Sophia had a net loss of close to $12.7 million in Q1, compared to a loss of $10.5 million in the year-earlier quarter.

As of March 31, the company had $57.1 million in cash and equivalents.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.