Guardant Health Files for $100M IPO

NEW YORK (GenomeWeb) – In a filing with the US Securities and Exchange Commission today, Guardant Health filed for a $100 million initial public offering, with plans to list its shares on the Nasdaq under the ticker symbol GH.

JP Morgan and BofA Merrill Lynch are the lead underwriters on the deal, and Cowen, Leerink Partners, and William Blair are acting as co-managers. In its prospectus, Guardant proposed $100 million as the goal for the offering, though this is subject to change. The company has not yet specified the number of shares it is offering, nor at which price it plans to offer them.

In describing its goals, Guardant wrote that it estimates the market opportunity for its current commercial and pipeline products to be more than $35 billion in the US, “comprising applications for both clinicians and biopharmaceutical customers, and addressing early- to late-stage disease.” The company’s tests are currently targeted toward late-stage cancer, but it has also been developing tests for recurrence monitoring and early detection for several years.

In its filing, Guardant cited an American Cancer Society estimate of approximately 15 million solid tumor cancer survivors in the US in 2016. “We believe that these cancer survivors

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