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The company said proceeds will be used for working capital, and may also be used to acquire or invest in complementary businesses or technologies.

Veracyte will offer 5 million shares at $10.25 per share. It has granted underwriters an option to purchase an additional 750,000 shares.

The platform, which its developers said is well suited to point-of-care testing, uses fluorescent polymers to distinguish between samples from cases and controls.