Fulgent Genetics (FLGT) plans to raise $60 million in an initial public offering (IPO) on Wednesday, September 28th. The company will issue 4,600,000 shares at a price of $12.00-$14.00 per share.

In the last year, Fulgent Genetics generated $13.2 million in revenue and had a net loss of $13.2 million. Fulgent Genetics has a market cap of $226.8 million.

Credit Suisse and Piper Jaffray served as the underwriters for the IPO and Raymond James and BTIG were co-managers.

Fulgent Genetics provided the following description of their company for its IPO: ” We are a rapidly growing technology company with an initial focus on offering comprehensive genetic testing to provide physicians with clinically actionable diagnostic information they can use to improve the overall quality of patient care. We have developed a proprietary technology platform that integrates sophisticated data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes. This platform allows us to offer a broad and flexible test menu while maintaining accessible pricing, high accuracy and competitive turnaround times. We believe our current test menu offers more genes for testing than our competitors in today’s market, which enables us to provide expansive options for test customization and clinically actionable results. Our current test menu includes more than 18,000 single-gene tests and more than 200 pre-established, multi-gene, disease-specific panels that collectively test for more than 7,500 genetic conditions, including various cancers, cardiovascular diseases and neurological disorders. “.

Fulgent Genetics was founded in 2016 and has 55 employees. The company is located at 4978 Santa Anita Avenue, Temple City, CA 91780, US and can be reached via phone at (626) 350-0537 or on the web at http://www.fulgentgenetics.com.

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