Talis Biomedical, which is developing diagnostic tests for COVID-19 and other infectious diseases, raised $221 million by offering 13.8 million shares at $16, the high end of the $14 to $16 range. Talis originally filed to sell 10 million shares, before increasing the offering to 11.5 million shares on Thursday, and further upsizing the deal at pricing.
Talis's IPO follows that of another COVID-19 diagnostics company Lucira Health (LHDX), which went public last week and popped 47% on its first day, before rising to a 101% return from offer as of Thursday's close.
Talis Biomedical plans to list on the Nasdaq under the symbol TLIS. J.P. Morgan, BofA Securities and Piper Sandler acted as lead managers on the deal.
