The SoftBank-backed precision oncology test developer floated above its range and saw its share price rise 69% on the first day of trading.
Guardant Health, a US-based cancer diagnostics technology developer that counts telecommunications firm SoftBank as its largest shareholder, went public yesterday in an initial public offering sized at approximately $238m.
The company issued 12.5 million shares on the Nasdaq Global Select Market that were priced at $19.00 each, above the IPO’s $15 to $17 range, giving it a market capitalisation of about $1.58bn. Its shares opened at $27.75 yesterday and closed at $32.20.
Guardant has created liquid biopsy-based blood tests that…
