Thursday, October 4, 2018

Very Brief Blog: Guardant Health Raises $238M in IPO; Stock Reaches $33

According to Investors Business Daily and Yahoo Finance, Guardant Health garnered some $238M in an IPO. 

The projected or actual share price has moved upward.  Early estimates forecast an IPO at $15-17 a share, while the final IPO finally priced at $19 a share. Rising above that, the market opened at $27 a share, and during Day One, shares rose as high as $33. 

Market cap was $1.6B according to one trade journal (here).   I believe that's at the nominal $19 per share price.  That market cap value compares favorably to the circa $550M invested so far.

Guardant Health received Medicare coverage for its liquid biopsy gene panel test this past summer (here), for lung cancer patients.

Click to enlarge: Yahoo Finance screen shot