From TBIO's web site:
"Transgenomic's WAVE® Nucleic Acid Fragment Analysis System analyzes double stranded (ds) and single stranded (ss) DNA for mutation screening and sizing applications. The WAVE® Nucleic Acid Fragment Analysis System employs a patented DNASep® cartridge as a separation matrix, which is unavailable on any other analyzer. * * * The WAVE® Nucleic Acid Fragment Analysis Systems are computer controlled and contain the proprietary software WAVEMAKER™, which predicts analytical parameters with a high accuracy for optimal fragment separation and mutational analysis."
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transgenomic.com
From TBIO's self-description of the IPO:
1999 REVENUE: $23,035,000
1999 NET INCOME (LOSS): ($9,827,000)
EMPLOYEES: 215
Shares Issued: 4 m
Offering amount = $60,000,000
"We provide innovative research tools to the life sciences industry. These tools enable researchers to discover and understand variation in the human genetic code, or genome, in order to accelerate and improve drug development and diagnostics. We believe our WAVE System, which incorporates our proprietary DNASep separation column and associated software, consumables and reagents, will become a leading tool to analyze genetic mutations. The WAVE System allows researchers to analyze both known and unknown genetic mutations faster, with more accuracy and at a lower cost than other commercially available techniques. As of March 1, 2000, we have sold over 240 WAVE Systems in 20 countries to academic research centers and biopharmaceutical companies. In 1999, sales of our WAVE Systems and related consumables accounted for approximately $14 million in revenues.
"The market for our products is highly competitive. Our principal competitors include those entities that provide alternative technologies and products for the separation and analysis of DNA in the areas of sample amplification, analysis process, sample separation and mutation detection and correlation. They include Affymetrix, Inc., Agilent Technologies, Amersham Pharmacia Biotech AB, Bio-Rad Laboratories, Inc., BioWhittaker Molecular Applications, GeneTrace Systems, Inc., Invitrogen Corporation, PE Corporation, Sequenom, Inc. and Varian Associates Inc."
siliconinvestor.ipo.com
From the underwriters' PR:
Transgenomic, Inc. Announces Initial Public Offering of Common Stock
siliconinvestor.com
OMAHA, Neb., Jul 17, 2000 /PRNewswire via COMTEX/ -- Transgenomic, Inc. (Nasdaq: TBIO chart, msgs) today announced its initial public offering of 4,480,000 shares of common stock at an initial public offering price of $15 per share. This offering has been increased from the original filing of 4,000,000 shares at an offering price range of $12 to $14 per share. All of the shares are being offered by Transgenomic. The shares will trade on the Nasdaq National Market under the symbol "TBIO."
Chase H&Q, Bear, Stearns & Co. Inc., and Dain Rauscher Wessels are acting as the underwriters for the offering. Transgenomic has granted the underwriters an option to purchase up to an additional 672,000 shares of common stock at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the common stock of Transgenomic, nor shall there be any sales 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. Copies of the final prospectus related to the offering may be obtained from Chase H&Q, One Bush Street, San Francisco, CA 94104, Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167, and Dain Rasucher Wessels, 60 South Sixth Street, Minneapolis, MN 55402.
Transgenomic provides innovative research tools to the genomics segment of the life sciences industry. These tools enable researchers to discover and understand variation in the human genetic code, or genome, in order to accelerate and improve drug development and diagnostics. We believe our WAVE System will become a leading tool to analyze genetic mutations. The WAVE System allows researchers to analyze both known and unknown genetic mutations faster, with more accuracy and at a lower cost than other commercially available techniques.
As efforts to sequence the human genome near completion, understanding variations in the genetic sequence, or mutation analysis, is becoming the vital link to the development of new drug products and diagnostics. By comparing genetic mutations in the genome to the occurrence of diseases or particular traits, correlation can be made between genes and specific diseases or traits. The WAVE System, unlike tools employing more conventional technologies, can detect these genetic mutations without previous knowledge of their existence or position. As a result, the WAVE System provides researchers a more accurate and efficient means of performing the experiments necessary to identify mutations and to correlate the relationships between mutations and diseases." |
