Diagnostic test developer KineMed sets terms for $32 million IPO

By Renaissance Capital,

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KineMed, which develops biomarker tests to measure the progression of diseases, announced terms for its IPO on Monday. The Emeryville, CA-based company plans to raise $32 million by offering 4.5 million shares at a price range of $6.50 to $7.50. At the midpoint of the proposed range, KineMed would command a fully diluted market value of $121 million.

KineMed, which was founded in 2001 and booked $7 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol KNMD. KineMed initially filed confidentially on November 18, 2013. Feltl and Company is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: KNMD

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