Fluidigm to Make Another Go at IPO
The company previously filed for an IPO in 2008, but withdrew its application, citing market conditions (see IBO 9/30/08). In 2009, the BioMark system accounted for 52% of product revenues, and US and Europe sales represented 54% and 21% of company revenues, respectively. As of September 30, the company had $5.1 million of cash and cash equivalents.
South San Francisco, CA 12/3/10; Washington, DC 12/3/10—Fluidigm has filed an S-1 registration statement with the SEC for an IPO. Fluidigm provides microfluidic instrumentation and consumables for life science research, including gene expression, genotyping and digital PCR (see page 12). The number of shares and price range has not yet been determined. In 2009, the company’s revenues increased 65.6% to $25.4 million (see page 12). Instrument and consumables revenues totaled $17.3 million and $6.3 million, respectively. Operating loss declined from $25.4 million to $18.0 million, and product margin was 51%. As of September 30, the company had an accumulated deficit of $196.2 million. Fluidigm has sold more than 200 of its systems to customers in over 20 countries. The company has 198 employees.

