NEW YORK (GenomeWeb News) - Fluidigm today filed a preliminary prospectus with the US Securities and Exchange Commission for a proposed initial public offering.
The filing revives the company's plans for an IPO after withdrawing an initial registration in 2008. At the time, the company hoped to raise up to $85 million, but abandoned the plan in September of that year amid the unfolding economic crisis.
The company's new prospectus did not provide the price range for shares in the offering or the anticipated number of shares it will offer.
In the filing, Fluidigm said it has sold its BioMark and EP1 genetic analysis systems and Access Array system for next-generation sequencing sample prep to more than 200 customers so far.
The company disclosed total revenues of $25.4 million in 2009, an increase of 66 percent over $15.3 million in the prior year. Product revenues contributed $23.6 million in 2009 and $13.4 in 2008.
For the nine months ended Sept. 30, 2010, Fluidigm's total revenues were $23.2 million compared to $17.8 million in the comparable period of 2009. Product revenues contributed $20.9 million and $16.4 million to total revenues during those periods, respectively.
The company has not recorded a profit in its history, but narrowed its net loss to $19.1 million in 2009 from $29.5 million in 2008. For the nine months ended Sept. 30, the company's loss was $13.8 million, compared to $15.7 million in the prior-year period.
Fluidigm said in its S-1 filing that it plans to trade on the Nasdaq Global Market under the ticker symbol FLDM.
The registration follows BG Medicine's disclosure earlier in the week that it plans to raise around $67 million in its IPO, for which it filed in January. BG Medicine had also abandoned an earlier attempt to go public in 2007.
But a successful IPO still isn't guaranteed in the current market. Earlier this month, Rules Based Medicine pulled its registration, which it initially filed last December, citing adverse market conditions.