Skip to main content
Premium Trial:

Request an Annual Quote

Microlin Cuts IPO Target Price Range Again


NEW YORK (GenomeWeb) – Just days after cutting the proposed price range for its stock in a planned initial public offering, Microlin Bio has once again slashed the proposed offering price for its shares by $2 to between $4.50 and $5.50.

As reported by Gene Silencing News, the company first filed to go public on the Nasdaq in February, disclosing that it hoped to get between $6 to $8 a share for 3.6 million shares total. A few months later, it raised that range to $10 to $12, with the goal of floating 2.7 million shares.

Then, last week, it said in a filing with the US Securities and Exchange Commission that it would look to sell 4.3 million shares for between $6.50 and $7.50 apiece. Assuming a $7 per share IPO price and the 8.4 million shares outstanding following the transaction, this would have given Microlin a market capitalization of about $59 million.

The company is now hoping to sell 6.9 million shares. Assuming it closes its IPO at the mid-range price of $5 per share, which would result in roughly 10.2 million shares outstanding, the firm's market cap would be $51 million.

The Scan

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.

New Insights Into TP53-Driven Cancer

Researchers examine in Nature how TP53 mutations arise and spark tumor development.

Mapping Single-Cell Genomic, Transcriptomic Landscapes of Colorectal Cancer

In Genome Medicine, researchers present a map of single-cell genomic and transcriptomic landscapes of primary and metastatic colorectal cancer.

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.