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IPO

The 5.6 million shares offering will bring in gross proceeds of $75 million.

Following the exercise of the over-allotment option, BG's net proceeds from the IPO were roughly $35 million.

The company went public today, offering 5 million shares of its common stock at $7 per share.

Vermillion doubled the number of shares it plans to offer while lowering the expected share price.

The reduction is the second time that BG Medicine has lowered the expected price for its IPO, which is now less than 40 percent of what it originally targeted.

At the midpoint of its offering price, the IPO is anticipated to result in net proceeds of $68.3 million.

The company hopes to raise enough capital in the IPO to pay for that bill, which covers phase I and II trials for its lead candidates. It also said R&D costs decreased over the first nine months of 2010 while revenues rose for the period year over year.

An article about an acquisition topped the list of the most-read stories for the year on GenomeWeb Daily News, while restructurings, lawsuits, and one firm's IPO plans made it into the top 10.

In addition to a challenging IPO market, experts said that private equity funding remains a challenge.

A BG Medicine official contradicted a news report which claimed the company had withdrawn its IPO.

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