Cancer Genetics relaunches deal with new underwriters

Cancer Genetics, which offers personalized genomic tests to improve the diagnosis and treatment of cancer, lowered the proposed deal size for its upcoming IPO on Tuesday. The Rutherford, NJ-based company now plans to raise $35 million by offering 5 million shares at a price range of $6 to $8. The company had previously filed to offer 4 million shares at a range of $11 to $13 before postponing their IPO in May.

At the midpoint of the revised range, Cancer Genetics will raise 27% fewer proceeds than previously anticipated. Cancer Genetics, which was founded in 1999 and booked $3 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol CGIX. Aegis Capital and Feltl and Company are the joint bookrunners on the deal.