BG Medicine Cuts IPO Target

Erin Kutz2/1/11

Waltham, MA-based BG Medicine has again adjusted its plans for an initial public offering, this time aiming to raise about $33.3 million, roughly half of what it was shooting for last year. The diagnostics company revealed in a regulatory filing today that it is aiming to price a 4.75-million-share initial public offering at $7 per share, after withdrawing its IPO proposal in December, which was looking to price the 4.75 million shares at between $13 and $15 each. BG Medicine’s road to going public has been rocky; the company also withdrew its IPO plans in 2008.