Burning Rock Biotech, which provides DNA sequencing-based cancer therapy selection tests in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company provides next-generation sequencing-based cancer therapy selection tests that are used to assist physicians in selecting the most effective therapy for cancer patients. It currently offers 13 tests for a broad range of cancer types, including lung, gastrointestinal, prostate, and breast, among others.
The Guangzhou, China-based company was founded in 2014 and booked $49 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol BNR. Burning Rock Biotech filed confidentially on November 4, 2019. Morgan Stanley, BofA Securities, and Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
