Guardant Health (GH) Announces October 4th IPO

Guardant Health (GH) expects to raise $200 million in an IPO on Thursday, October 4th, IPO Scoop reports. The company plans to issue 12,500,000 shares at a price of $15.00-$17.00 per share.

In the last 12 months, Guardant Health generated $67.2 million in revenue and had a net loss of $83.8 million. The company has a market cap of $1.3 billion.

J.P. Morgan and BofA Merrill Lynch acted as the underwriters for the IPO and Cowen, Leerink Partners and William Blair were co-managers.

Guardant Health provided the following description of their company for its IPO: ” We are a leading precision oncology company focused on helping conquer cancer globally through use of our proprietary blood tests, vast data sets and advanced analytics. We believe that the key to conquering cancer is unprecedented access to its molecular information throughout all stages of the disease, which we intend to enable by a routine blood draw, or liquid biopsy. Our Guardant Health Oncology Platform is designed to leverage our capabilities in technology, clinical development, regulatory and reimbursement to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs. In pursuit of our goal to manage cancer across all stages of the disease, we have launched our liquid biopsy tests, Guardant360 and GuardantOMNI, for advanced stage cancer, which fuel our programs developing tests for recurrence and early detection, LUNAR-1 and LUNAR-2, respectively. Guardant360, which we launched in 2014 has been used by more than 5,000 oncologists, over 40 biopharmaceutical companies and all 27 National Comprehensive Cancer Network, or NCCN, Centers, and we believe it is the world’s market leading comprehensive liquid biopsy test based on public disclosure of the number of comprehensive liquid biopsy tests sold in 2017. Precision oncology, as it is practiced today, is primarily focused on matching cancer patients to personalized treatments based on the underlying molecular profile of their tumors “.

Guardant Health was founded in 2011 and has 348 employees. The company is located at 505 Penobscot Drive, Redwood City, CA 94063, US and can be reached via phone at (855) 698-8887 or on the web at http://www.guardanthealth.com.

Receive News & Ratings for Guardant Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guardant Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply