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Proceeds from the offering, expected to close on or about Aug. 14, could be used to fund acquisitions, to repay existing debts, or for working capital.

Natera led the Index for the second month in a row after it announced that it intended to raise $75 million in a public stock offering.

Natera led the Index with a 61 percent increase in stock price, driven by the firm's announcement that it was entering the transplantation market.

The study solidified how doctors should interpret and act upon an intermediate result from the breast cancer risk test in how to treat early-stage patients.

Though the Dow, the Nasdaq, and the Nasdaq Biotechnology Index all rose in May, they were outperformed by the GenomeWeb Index.

Positive first quarter earnings reports lifted many stocks of life science tools firms even as the broader biotechnology market suffered.

The decline matched the struggles of the broader stock market, though bright spots could be found with GenMark, Quidel, and NanoString all having good months.

The firm increased the number of shares it was offering after its stock price fell sharply this week.

The GenomeWeb Index outperformed the Nasdaq Biotechnology Index, which lost 5 percent in February, but lost the same amount as the Dow.

The investment bank gave the company's stock an Outperform rating with a target price of $90 per share.