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The company said adopters are ordering tests in areas of great interest, like CTC and blood biomarker monitoring, despite a lack of reimbursement.
The company estimated that the offering could raise between $327.2 and $376.3 million, which it would use for various corporate purposes.
The company saw $1.0 million in revenues for the quarter, including $976,000 from commercial testing, and attributed the growth to its pathology partnership initiative.
The investment bank gave the liquid biopsy company a price target of $90 and said that it views Guardant as the field leader.
As of July 1, the Guardant360 test will be considered medically necessary for aiding therapy selection in advanced lung cancer for health plan members of EviCore.
The center received a response to its initial submission to the NY State Department of Health in February and will re-submit by the end of this month.
Clinical researchers at AACR discussed a wide range of approaches focusing on several different potential use-cases in the detection or assessment of early cancers.
The company presented new data on the performance of a multi-pronged liquid biopsy assay in detecting colorectal cancers across a range of clinical stages.
Investigators from the pharma concluded that most liquid biopsy false positives and negatives could be traced to technical specifics of individual tests.
The firm saw total revenues of $859,526 for the three months ended Dec. 31, 2018 compared to $995,226 in the same period of 2017.