Genomic sequencing startup files for $100M IPO: 3 things to know

Pleasanton, Calif.-based 10x Genomics, a biotechnology startup developing single-cell and whole genome sequencing technologies, filed a prospectus with the SEC Aug. 19 for an initial public offering of $100 million.

Three things to know:

1. The company's stock will be traded on the Nasdaq Stock Market under the symbol TXG, per the filing, and the IPO's proceeds will be used to expand the development and adoption of 10x's genomics sequencing hardware and software offerings.

2. The filing also indicated that some earnings may be used for future acquisitions, though none are currently in progress. In 2018, 10x acquired Epinomics and Spatial Transcriptomics, two sequencing research and analysis firms.

3. With the close of a $35 million Series D funding round in January, 10x Genomics achieved a valuation of $1.28 billion, Forbes reported at the time. The company has raised a total of $243 million since its 2012 founding.

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