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Diagnostics company Cancer Genetics cuts deal size to $18 million

Cancer Genetics, which offers personalized genomic tests to improve the diagnosis and treatment of cancer, announced terms for its IPO on Monday. The Rutherford, NJ-based company plans to raise $18 million by offering 1.65 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Cancer Genetics would command a fully diluted market value of $56 million. The company had previously filed to offer 1.85 million shares at a range of $10 to $12 ($20 million). At the midpoint of the revised range, Cancer Genetics will raise -11% fewer proceeds than previously anticipated.

Cancer Genetics, which was founded in 1999 and booked $4 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol CGIX. Aegis Capital 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.


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

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