The Medical Device Business Journal — Medical Device News & Articles | MassDevice
More than 5 months after ditching efforts to open on public markets, California-based CardioDx is ready to take another swing at an initial public offering.
In regulatory documents filed this week the molecular diagnostics maker assigned new underwriters, named a couple of new executives and added 2 members to its board of directors. CardioDx has not yet revealed exact timing or terms for the revived IPO.
California molecular diagnostics company CardioDx spiked its initial public offering, citing "unfavorable market conditions," according to news reports.
The 5.8-million-share offering by Palo Alto-based CardioDx was slated to raise $92 million at a share price of $14-$16 apiece. The IPO, originally scheduled for yesterday, would have seen CardioDx shares trade under the "CDX" symbol.
California molecular diagnostics company CardioDx unveiled new details of its initial public offering, slated to raise $92 million through shares priced at $14-$16 apiece.
Once the IPO launches, CardioDx will trade on the Nasdaq stock market under the symbol "CDX."
CardioDx is planning something big, although it hasn’t released the full details of its upcoming initial public offering. The Palo Alto, Calif.-based genetic testing company filed preliminary documents for a maximum aggregate offering of up to $86.3 million.
CardioDx hasn’t yet released details of the offering, so the number of shares and individual pricing remains a mystery, but the company has laid out its plans for how it’ll spend the money it hopes to raise.
Intrinsic Therapeutics named Wright Medical (NSQD:WMGI) veteran Cary Hagan as its new President & CEO. Greg Lambrect, founder of Intrinsic will stay on as executive director.
"Cary’s proven success in bringing new technologies to the global market makes him an ideal choice to lead Intrinsic’s next stage of growth as we expand our international clinical and commercial activity," said Lambrecht in prepared remarks.
CardioDx Appoints Andrew Guggenhime as Chief Financial Officer and Mark Monane, M.D., as Chief Medical Officer
Two Key Hires Position Company for Continued Growth
PALO ALTO, Calif.–(BUSINESS WIRE)–CardioDx, a pioneer in the field of cardiovascular genomic diagnostics, today announced the hires of Andrew L. Guggenhime as the company’s chief financial officer and Mark Monane, M.D., as chief medical officer.
MASSDEVICE ON CALL — Implantable defibrillators, coronary artery disease tests and implantable obesity treatment devices got the most venture capital attention in the first half of 2011, topping a list of the 10 biggest VC deals so far this year.
Coming in at number one, Cameron Health rounded up $107 million from Alloy Ventures and Delphi Ventures for its landmark completely subcutaneous implantable defibrillator, which has yet to win FDA clearance.
Quintiles is resuming its plans to raise more than $2 billion in bank financing.
The Durham, N.C.-based, contract research organization is planning to enter into a new $2.2 billion credit facility, with proceeds from the borrowed funding being used to refinance $1.7 billion in existing debt, including an offer to buy $525 million of 9.5 percent outstanding senior notes that are due in 2014.
CardioDx Inc. raised $57.5 million from equity and options investments, according to its latest filing with the Securities & Exchange Commission.
The Palo Alto, Calif.-based genomics firm is developing tests based on gene expression analysis to measure patients’ risk for cardiovascular diseases.
The new financing, which is part of the $78.3 million the company is trying to raise, was supported by 17 unnamed investors, according to the SEC filing.
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