Skip to main content
Premium Trial:

Request an Annual Quote

Veracyte Prices $180M Public Stock Offering

NEW YORK – Veracyte said after the market closed Tuesday afternoon that it has priced a public offering of 6 million shares of its common stock at $30 per share. It expects gross proceeds of around $180 million.

Veracyte will use the net proceeds from the offering for working capital and other general corporate purposes. The firm may also use part of the proceeds to acquire or invest in complementary businesses, technologies, or other assets.

Goldman Sachs and SVB Leerink are joint lead book-running managers for the offering, while William Blair is a book-running manager and BTIG, Needham, and Lake Street Capital Markets are co-managers.

Veracyte has granted underwriters a 30-day stock option to purchase up to an additional 900,000 shares of its common stock at the public offering price. The offering is expected to close around Aug. 7, 2020, the firm said.

Veracyte's stock was down about 7 percent at $30.00 in Wednesday morning trading on the Nasdaq.

The Scan

Steps for Quick Review

The US Food and Drug Administration is preparing for the quick review of drugs and vaccines for the Omicron variant, according to the Wall Street Journal.

Moving Away From Using Term 'Race'

A new analysis finds that geneticists are using the term "race" in their papers less than in years past, as Science reports.

Point of the Program

The Guardian writes that some scientists have called the design of a UK newborn sequencing program into question.

Science Papers Present Multi-Omic Analysis of Lung Cells, Regulation of Cardiomyocyte Proliferation

In Science this week: a multi-omic analysis of lung cells focuses on RIT1-regulated pathways, and more.