Waltham, MA-based diagnostics company BG Medicine revealed its plans for a 4.75 million-share initial public offering, at a price range of $13 to $15 per share, according to documents filed with the SEC. UBS Investment Bank will act as the sole book-running manager for the deal, which could raise up to $71.25 million for the firm. BG pulled its original plans for an IPO in 2008, but re-filed for a public offering this year, with the initial expectation of raising $86.3 million. Last month the startup, which had revenues of $620,000 and net losses of $13.8 million in the first nine months of this year, received FDA clearance for its diagnostic test for helping doctors assess the prognosis of patients with chronic heart failure.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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