Skip to main content
Premium Trial:

Request an Annual Quote

CardioDx Sets Price Range on Planned IPO

NEW YORK (GenomeWeb News) – CardioDx today set the price range on its planned initial public offering and raised the maximum proposed aggregate offering price to $92.0 million.

In its amended Form S-1 filed with the US Securities and Exchange Commission, the Palo Alto, Calif.-based cardiovascular molecular diagnostics firm said it anticipates offering 5 million shares of its common stock at between $14 and $16 per share.

The maximum proposed aggregate offering price of $92.0 million was raised from an $86.3 million figure that CardioDx cited in its original Form S-1 filed last month.

Net proceeds from the offering at the midpoint price of $15 per share are anticipated to be about $66.9 million, or $77.3 million if the offering's underwriters exercise their option to purchase an additional 750,000 shares in full, the company said.

CardioDx plans to list its shares on the Nasdaq Global Market under ticker symbol "CDX." The offering's underwriters are Bank of America Merrill Lynch; Jefferies; Piper Jaffray; and William Blair.

The company said recently that it ended the first nine months of 2013 with $5.1 million in revenues, up from $914,000 a year ago. It did not break out its earnings on a quarterly basis, but CardioDx had earlier said that revenues through the first six months of the year totaled $2.9 million, compared to $466,000 in the year-ago period, and translating to third quarter revenues of $2.2 million, compared to $448,000 from a year ago.

The Scan

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more