synthetic genomics

The Paris-based company plans to use the nucleic acid modification technology to synthesize qPCR probes for use in diagnostics, among other biomolecules.

The firm reported $28.2 million in revenues for the three months ended Dec. 31, 2020, beating consensus Wall Street estimates on the top and bottom lines.

The funding will help the company further develop its INSPECTR molecular diagnostic platform into a test that can be used in various settings.

Originally, the company had said it was planning to offer $250 million worth of shares in the offering, which is expected to close Dec. 7.

Included in the offering — Twist Bioscience's third this year — are 75,000 shares of common stock offered by certain selling shareholders.

Wall Street analysts are bullish on the firm's cell selection platform technology, which could find a total addressable market of more than $20 billion.

The Bay Area DNA synthesis company said it was "not significantly affected" by the COVID-19 pandemic and beat Wall Street revenue estimates.

The firm is offering approximately 3 million shares and said it may use a portion of the proceeds to acquire, license, or invest in complementary businesses or products.