Veracyte, which is developing molecular diagnostic tests for thyroid cancer, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $66 million by offering 4.7 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Veracyte would command a fully diluted market value of $316 million.
Veracyte, which was founded in 2006 and booked $17 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol VCYT. Veracyte initially filed confidentially on August 13, 2013. Morgan Stanley and Leerink Swann are the joint bookrunners on the deal.
