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June 7, 2019, 8:57 a.m. EDT

Cancer genomics company Personalis expects to raise up to $107 million in IPO

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By Tomi Kilgore

Personalis Inc. /zigman2/quotes/212754973/composite PSNL -14.29% disclosed Friday terms of its initial public offering, in which the cancer genomics company could raise up to $106.7 million, and be valued at up to about $456 million. The company said it was offering 6,666,667 shares in the IPO, which is expected to price between $14 and $16 a share, and will have about 28.5 million shares outstanding after the offering. Personalis plans to use the IPO proceeds for the expansion of research and development, infrastructure, facilities, headcount, marketing spend and other capital expenditures. The stock is expected to list on the Nasdaq exchange under the ticker symbol "PSNL." The lead underwriters of the IPO are Morgan Stanley, BofA Merrill Lynch and Cowen. The company recorded a 2018 net loss of $19.9 million on revenue of $37.8 million, after a loss of $23.6 million on revenue of $9.4 million in 2017. Personalis is looking to go public at a time the iShares Nasdaq Biotechnology ETF /zigman2/quotes/206189322/composite IBB -1.79% has lost 6.4% over the past three months, while the both the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.57% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% have gained 3.4%.

/zigman2/quotes/212754973/composite
US : U.S.: Nasdaq
$ 19.50
-3.25 -14.29%
Volume: 1.44M
May 10, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$998.92 million
Rev. per Employee
$334,672
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/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 147.03
-2.68 -1.79%
Volume: 3.41M
May 10, 2021 4:00p
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 55.33
-0.88 -1.57%
Volume: 462,192
May 10, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,188.43
-44.17 -1.04%
Volume: 2.32B
May 10, 2021 5:40p
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