| 2 min read
Register for free to listen to this article
Listen with Speechify
0:00
2:00
MOUNTAIN VIEW, Calif.—Although the market for initial public offerings (IPOs) has been rough lately in the United States, human genome sequencing technology developer Complete Genomics Inc. has just recently filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed IPO of shares of its common stock.

The shares of common stock to be sold in this offering are proposed to be sold solely by Complete Genomics and the company plans to sell up to $86.3 million in total of said shares. The company expects its shares to be traded on the Nasdaq Global Market under the symbol GNOM.

The company didn't specify specific uses for the IPO proceeds, but it does have a variety of opportunities for growth and development. In July, for example, Complete Genomics announced that it had sequenced more 200 human genomes in 2010 and had an order backlog of more than 500. By the end of the year, it expects to be able to sequence and analyze more than 400 genomes a month and expects to triple that capacity in 2011.

Complete Genomics also has plans to build genome centers in the United States and elsewhere for what it expects to be a growing global demand for "high-quality, low-cost complete human genome sequencing on a large scale" with an eye toward pharmaceutical researchers using such sequencing to identify people who respond well or poorly to a drug based on specific genetic markers, as well as perhaps other purposes.

The company already reportedly provides sequencing for about $4,000 for each genome, and continues to strive for the Holy Grail of the "$1,000 genome."

"Because our technology resides only in our centralized facilities," officials at the company say, "we can quickly and easily implement enhancements and provide their benefits to our entire customer base. We believe that we will be the first company to sequence and analyze high-quality complete human genomes, at scale, for a total cost of under $1,000 per genome."

UBS Investment Bank and Jefferies & Co. will be acting as joint book-running managers, with Robert W. Baird & Co. and Cowen and Co. acting as co-managers for the offering. This offering will be made only by means of a prospectus.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

Complete Genomics is a life sciences company that has developed and commercialized an DNA sequencing platform called the Complete Genomics Analysis Platform (CGA Platform). It combins Complete Genomics' proprietary human genome sequencing technology with its advanced informatics and data management software to provide an "innovative, end-to-end, outsourced service and provide customers with data that is immediately ready to be used for genome-based research."

About the Author

Related Topics

Loading Next Article...
Loading Next Article...
Subscribe to Newsletter

Subscribe to our eNewsletters

Stay connected with all of the latest from Drug Discovery News.

Subscribe

Sponsored

A black mosquito is shown on pink human skin against a blurred green backdrop.

Discovering deeper insights into malaria research

Malaria continues to drive urgent research worldwide, with new therapies and tools emerging to combat the parasite’s complex lifecycle and global burden.
Three burgundy round and linear conformations of oligonucleotides are shown against a black background.

Accelerating RNA therapeutic testing with liver microphysiological platforms

Researchers can now study oligonucleotide delivery and efficacy in a system that models a real human liver.
A 3D-rendered illustration of a eukaryotic cell highlighting organelles such as the nucleus, endoplasmic reticulum, mitochondria, and cytoskeletal structures in pink and purple tones.

Shining light on the subcellular proteome

Discover how innovative proteomics tools help researchers peer into once inaccessible organelles, allowing for new targets for drug discovery and development.
Drug Discovery News March 2025 Issue
Latest IssueVolume 21 • Issue 1 • March 2025

March 2025

March 2025 Issue

Explore this issue