SAN DIEGO--Sequenom made an initial public offering earlier this month of 6 million shares of stock at $26 per share, which yielded gross proceeds of about $157 million. The shares gained more than 200 percent and closed day one at nearly $80.
The company, which calls itself an industrial genomics firm addressing the large-scale commercial use of DNA variations for improving health, agriculture, and livestock, said its intellectual property portfolio includes 47 pending patent applications in the US. Sequenom’s MassArray system performs high-throughput analysis of SNPs. The technology is presently being tested at six academic, government, and commercial sites.