IPOs, Biotech, Diagnostics

BG Medicine Drops IPO Price

Rebecca Zacks 12/6/07

BG Medicine of Waltham, MA, has lowered the price range for its planned 4.5 million-share IPO to $8 to $10 per share (down from $14 to $16), an SEC filing reveals. When the firm, which develops molecular diagnostics, originally filed for the IPO in August, it was aiming to raise up to $80 million and was planning to trade on Euronext Amsterdam. It now plans to trade on the NASDAQ Global Market under the symbol “BGMD.”