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IPO

Shares of the Boulder, Colorado-based firm will begin trading on the Nasdaq today under ticker symbol "BDSX" at $18 per share.

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In its IPO prospectus, the company shared plans to broaden the use of its methylation technology from cancer screening to diagnostics and residual disease monitoring.

The company is developing a blood-based test to detect more than 50 cancer types across all stages and identify a tumor's tissue of origin.

The firm intends to use about $25 million to $30 million of the net proceeds for the continued development and planned commercialization of its KidneyIntelX platform.

The company said it anticipates using about $25 million to $30 million of the net proceeds for the continued development of its KidneyIntelX platform.

Four diagnostic firms have gone public so far this year, with three of the companies based in China but filing for US initial public offerings.

The company sells a number of next-generation sequencing-based tissue and liquid biopsy tests for cancer therapy selection to the Chinese market.

Progenity recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.

The firm has granted the underwriters an option to purchase up to 2,400,000 additional shares, which would contribute additional gross proceeds of up to $38.4 million.

The company recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.

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