ArcherDX, which provides genomic testing products for cancer, withdrew its plans for an initial public offering on Monday. It originally filed in June 2020 with a proposed deal size of $100 million, and later that month announced that it would be acquired by Invitae (NYSE: NVTA) in a deal valued at $1.4 billion. The transaction was completed this past October.
The Boulder, CO-based company was founded in 2013 and booked $56 million in revenue for the 12 months ended March 31, 2020. It had planned to list on the Nasdaq under the symbol RCHR. J.P. Morgan, BofA Securities, Stifel and Evercore ISI were set to be the joint bookrunners on the deal.
