CareDx, which sells molecular diagnostic tests to monitor heart transplants, announced terms for its IPO on Monday. The Brisbane, CA-based company plans to raise $50 million by offering 3.1 million shares at a price range of $15 to $17. At the midpoint of the proposed range, it would command a fully diluted market value of $175 million.
CareDx, which was founded in 1998 and booked $23 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol CDNA. It initially filed confidentially on March 31, 2014. Piper Jaffray and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of June 14, 2014.
