Cue Health, which develops and sells molecular home tests for COVID-19 and other diseases, filed on Wednesday with the SEC to raise up to $100 million.
The company's Cue Integrated Care Platform consists of hardware and software components: Cue Health Monitoring System, Cue Data and Innovation Layer, Cue Virtual Care Delivery Apps, and Cue Ecosystem Integrations and Apps. Its first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs for point-of-care and over-the-counter and at-home use. Cue has five additional Test Kits in late-stage technical development (influenza A/B, respiratory syncytial virus, fertility, pregnancy, and inflammation), and the company expects to begin submitting for FDA authorization or clearance in the 2H22.
The San Diego, CA-based company was founded in 2010 and booked $220 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol HLTH. Cue Health filed confidentially on April 19, 2021. Goldman Sachs, Morgan Stanley, and Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
