CareDx Announces Pricing of its IPO and Completion of its First Day of Trading
Brisbane, CA – July 17, 2014 – CareDx, Inc. (NASDAQ: CDNA) announced the pricing of its initial public offering of 4,000,000 shares of its common stock at a price to the public of $10 per share, before underwriter discounts. In addition, CareDx has granted the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any. CareDx completed its first day of trading today on The NASDAQ Global Market under the ticker symbol “CDNA.”
The offering is expected to close on July 22, 2014, subject to customary closing conditions. Piper Jaffray & Co. and Leerink Partners LLC are serving as joint book-running managers for the offering. Raymond James & Associates, Inc. and Mizuho Securities USA Inc. are serving as co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 16, 2014. The offering is being made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained, when available, from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Suite 1000, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by email at prospectus @pjc.com or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, via email at syndicate @leerink.com, or by phone at (800) 808-7525.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Investor Relations contacts:
Westwicke Partners, LLC
(443) 213-0501 office
(410) 627-2087 mobile
Westwicke Partners, LLC
(415) 513-1281 office
(510) 692-5238 mobile
AlloMap MolecularTesting AlloMap Testing is intended to aid in the identification of heart transplant recipients with stable allograft function who have a low probability of moderate/severe acute cellular rejection (ACR) at the time of testing in conjunction with standard clinical assessment. AlloMap is performed in the CLIA-certified and CAP-accredited clinical laboratory at CareDx and has been commercially available in the United States since 2005. AlloMap was cleared by the U.S. Food and Drug Administration in 2008 and was CE marked for the European Union in 2011. Recommended use of AlloMap for heart transplant rejection surveillance is included in the International Society for Heart and Lung Transplantation (ISHLT) Guidelines for the care of heart transplant recipients, published in August, 2010: “Gene Expression Profiling (Allomap) can be used to rule out the presence of ACR of grade 2R or greater in appropriate low-risk patients, between 6 months and 5 years after HT.” These guidelines represent the worldwide standard for the care of heart transplant patients.
XCareDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development, and commercialization of clinically differentiated, high-value, non-invasive diagnostic surveillance solutions for transplant recipients. The company has commercialized AlloMap, a gene expression test that aids clinicians in identifying heart transplant recipients with stable graft function.
For more information, please visit: www.CareDxInc.com.
Bradley P. Sherrill
Senior Director, Marketing