logo
  Join        Login             Stock Quote

Singulex Sets IPO Pricing Between $15 And $17

 October 24, 2012 11:28 AM


(By Balachander) Singulex, a developer of tests to diagnose chronic diseases, has set the terms for its initial public offering (IPO).

The Alameda, California-based company has launched an IPO of roughly 4.37 million shares, with an estimated pricing between $15.00 and $17.00 each.

At the midpoint of the proposed range, Singulex will have an initial market capitalization of roughly $246 million.

The company expects net proceeds from the offering to be roughly $62.3 million.

The company's advanced cardiovascular disease (CVD) monitoring services include enhanced cardiovascular profiling featuring ultrasensitive Sgx HD immunoassays, a personalized wellness program, and online interactive management tools. The company launched its Advanced CVD Monitoring services in July 2010.

[Related -8 Stocks to Beat Warren Buffett's Portfolio Return Easily]

Singulex is developing a second generation digital immunoassay monitoring platform, which is currently in the design and development stage, with expected prototype development commencing in the first half of 2013.

The company said it expect this system to be a higher-throughput, fully-automated platform focused on high precision immunoassays for advanced management of CVD and other chronic diseases.

The company, which was formed in 1997, posted a net loss of $10.3 million on revenue of $20.5 million for the six months ended June 30, 2012.

For the year ended December 31, 2011, the company lost $12.5 million on revenue of  $24.8 million.

Investors in the company include: Fisk Ventures, OrbiMed Advisors, JAFCO and Prolog Ventures.

[Related -How the Chinese Slowdown Will Impact Your Investments]

Singulex proposes to list on the New York Stock Exchange under the symbol "SGLX."

UBS Investment Bank and Piper Jaffray are the joint bookrunners on the offering.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageHow the Chinese Slowdown Will Impact Your Investments

Most countries would find a quarterly growth rate of 7.3% a cause for a read on...

article imageHow To Profit From Foreign Investment In Real Estate

Though investors don't always capitalize on it, history has a way of repeating itself. In fact, when I saw read on...

article imageAnother Round Of Upbeat US Macro Reports

The US economy grew faster than expected in this year’s third quarter, according to this morning’s read on...

article imageDistinguishing The Fed's Securities Purchases From Monetary Expansion

There has been a bit of confusion about what today's FOMC announcement means with respect to Quantitative read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Gold: The Ultimate Store of Value?
More Articles on: Medical



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.