LipoScience (LPDX) made its public debut on Friday, January 25th. Shares of the diagnostic company based on nuclear magnetic resonance technology ended their first day with gains of 16.1% at $10.45 per share. Shares extended their gains in the first three weeks after the offering, closing at $11.00 per share on the past Friday.
The Public Offering
LipoScience has developed the NMR LipoProfile test which directly measures the number of low density lipoprotein particles in the blood, which provides good information about the risk for heart diseases. So far, some 8 million tests have been ordered and the automatic analyzer system "Vantera" has been cleared by the Food and Drug Administration. LipoScience sold 5.0 million shares for $9 a piece. LipoScience raised $45 million in gross proceeds in the offering process. Based on the offer price of $9.00, the company is valued at approximately $125 million.
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