Veracyte files for $74.75M IPO

|By:, SA News Editor

Diagnostics company Veracyte becomes the latest firm looking to take advantage of the hot market for biotech IPOs, filing to raise up to $74.75M in a listing on Nasdaq, where it plans to trade under the ticker symbol "VCYT."

Veracyte's first product is the Afirma Thyroid FNA Analysis, which can check whether thyroid nodules can be classified as non-cancerous. The company has granted Genzyme the rights to market Afirma Thyroid FNA Analysis.

In H1, Veracyte generated revenues of $9.5M vs $11.6M for the whole of 2012. (PR)