GenMark Diagnostics, which offers molecular diagnostic tests through its proprietary FDA approved XT-8 System, announced terms for its IPO on Wednesday. The Pasadena, CA-based company plans to raise $41 million by offering 4.5 million shares at a price range of $8-$10. At the mid-point of the proposed range, GenMark Diagnostics will command a market value of $105 million. GenMark Diagnostics, which was founded in 1995 and booked $1 million in sales last year, plans to list on the NASDAQ under the symbol GNMK. Piper Jaffray is the lead underwriter on the deal, which is expected to price the week of May 24th.
