GenMark Diagnostics (GNMK)

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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs:   Globe Specialty Metals   •   LogMeIn   •   Invesco Mortgage Capital   •   Medidata   •   Chemspec

 

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Caleb Li

GenMark Diagnostics (GNMK) (NASDAQ:GNMK) offers molecular diagnostics testing systems. These systems analyze DNA and RNA to diagnose the disease and find the right treatment for the patients. The company's product system, XT-8, supports many different molecular diagnostics tests. Most of its revenues are from product sales of Cystic Fibrosis Genotyping Test. ^[1]

The US market for molecular diagnostics testing is estimated to be $1.9 billion in 2009 and expected to reach $3.4 billion by 2014, according to L.E.K. The drivers for this market includes expansion of genetic testing for disease predisposition, improvements in personal medicine, and increased demand for infectious diseases diagnostic panels. ^[1]

The company's initial public offering of stock filed on the NASDAQ and went public on 28 May 2010. It priced at $6 per share, the low end of the initial price offer range of $6-$7. The company offered 4.6 million shares and raised $28 million. ^[1]

For FY2009 with year ended 31 December 2009, the company reported $998,416 in total revenue, up 54% from $647,092 in total revenue for FY2008. Furthermore, the company had a net loss of $20.0 million in FY2009, an increase from a net loss of $28.4 million in FY2008. 91% of total revenue come from product sales, and the rest of total revenue come from license revenue. ^[1]

References

1. ↑ ^{1.0 1.1 1.2 1.3} GenMark Diagnostics S-1/A