Cancer Genetics, which offers personalized genomic tests to improve the diagnosis and treatment of cancer, lowered the proposed deal size for its upcoming IPO on Thursday. The Rutherford, NJ-based company now plans to raise $25 million by offering 5.0 million shares at a price range of $4 to $6. The company had previously filed to offer 5.0 million shares at a range of $6 to $8. At the midpoint of the revised range, Cancer Genetics will raise -29% fewer proceeds than previously anticipated.
Cancer Genetics, which was founded in 1999 and booked $4 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol CGIX. Aegis Capital is the sole bookrunner on the deal.
