Personalis, which provides a genome sequencing platform for cancer research, announced terms for its IPO on Friday.
The Menlo Park, CA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Personalis would command a fully diluted market value of $479 million.
Personalis was founded in 2011 and booked $48 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol PSNL. Morgan Stanley, BofA Merrill Lynch and Cowen are the joint bookrunners on the deal. It is expected to price during the week of June 17, 2019.
