Diagnostics company Cancer Genetics sets terms for $48 million US IPO


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Cancer Genetics, which offers proprietary genomic tests to improve the diagnosis, prognosis and treatment of cancer, announced terms for its IPO on Monday. The Rutherford, NJ-based company plans to raise $48 million by offering 4 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Cancer Genetics would command a market value of $112 million. Cancer Genetics, which was founded in 1999 and booked $3 million in sales for the 12 months ended 3/31/2012, plans to list on the NASDAQ under the symbol CGIX. William Blair and Baird are the joint bookrunners 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: Investing , IPOs

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