BG Medicine Reveals IPO Plans

12/10/10

Waltham, MA-based diagnostics company BG Medicine revealed its plans for a 4.75 million-share initial public offering, at a price range of $13 to $15 per share, according to documents filed with the SEC. UBS Investment Bank will act as the sole book-running manager for the deal, which could raise up to $71.25 million for the firm. BG pulled its original plans for an IPO in 2008, but re-filed for a public offering this year, with the initial expectation of raising $86.3 million. Last month the startup, which had revenues of $620,000 and net losses of $13.8 million in the first nine months of this year, received FDA clearance for its diagnostic test for helping doctors assess the prognosis of patients with chronic heart failure.

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