GenMark Diagnostics is selling off $60 million in common stock, looking to scrape together some cash and move on from an early summer fright that sent investors reeling.
Thanks in part to a really nasty flu season, GenMark Diagnostics ended 2012 with a big boost in revenue.
GenMark Diagnostics posted a four-fold revenue jump in the third quarter, as the company increased its analyzer placements and boosted its reagent sales by almost 5 times.
Put lightly, it was less than a banner year for medical device and diagnostics companies looking to go public. Check out the report >>
Plans call for using the proceeds to expand test offering menu options and accelerate other product development. But the big focus here with the cash infusion will be to grow U.S. and global commercial operations.
Pasadena, California-based GenMark Diagnostics recently announced that its initial public offering of 4.6 million shares of its common stock has been priced at $6 per share. However, as Reuters