TMO - COVID-19 test kit developer Lucira Health to price IPO between $15-$17
Lucira Health (LHDX) to sell 7,812,500 common shares in initial public offering at an estimated price between $15.-$17 per share.The company sees net proceeds of ~$112.9M based on midpoint of price range.The company has developed a testing platform that produces centralized-laboratory-accurate molecular testing in a single-use and consumer-friendly test kit that is powered by two AA batteries and fits in the palm of a hand with initial focus on respiratory diseases, starting with COVID-19 and influenza A and B virus indications. Its LUCIRA COVID-19 All-In-One Test Kit is designed to provide a clinically relevant COVID-19 result within 30 minutes from sample collection. Lucira is pre-revenue and will trade on the Nasdaq.According to a 2020 market research report, the global COVID-19 diagnostics market was valued at an estimated $19.8M in 2020 and the detection kits sub-market is forecast to reach $4.63B by 2027, a forecast CAGR of 5.05% from 2021 to 2027.Major competitors are Hologic (HOLX), Abbott (ABT), Danaher (DHR), Bio-Rad (BIO), F. Hoffman-La Roche,
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COVID-19 test kit developer Lucira Health to price IPO between $15-$17