10x Genomics files for $100M IPO

10x Genomics is looking to raise up to $100 million in an initial public offering, according to documents filed with the US Securities and Exchange Commission.

The single-cell sequencing firm did not disclose an expected share price range but said in a form S-1 that it plans to trade on the under ticker symbol “TXG.

According to the firm’s preliminary prospectus, in fiscal year 2018 10x recognized $146.3 million in total revenues and had a net loss of $112.5 million.

10x markets the Chromium single-cell analysis system and kits for genomic and transcriptomic analysis, including immune profiling applications.

10x plans to use the net proceeds from the IPO for general corporate purposes and said it may use a portion to acquire businesses, products, or technologies.

Source: https://www.genomeweb.com/

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