BioTrove IPO Review

In the USA, it is another bio-medics and chemical company which has filed for the IPO or Initial Public Offering with the SEC.
BioTrove Inc., based in Massachusetts and is in the business of making equipments and systems required to analyze genetic details and chemical compounds. BioTrove's equipments and research techniques are utilized to find out, measure & analyze the DNA and RNA, which transmits & carries genetic information inside cells, as well as chemical compounds and proteins.
Though there is no official information about BioTrove IPO’s expected size or price range of the IPO, but if the indications are taken from the SEC filing, the offering price may add up to $75 million.

The money raised from the BioTrove IPO will be utilized for further development of its OpenArray and RapidFire product lines, to build its operating infrastructure and for general corporate purposes, including general research and potential acquisitions.
In 2007, BioTrove's loss widened to $19.5 million, after preferred dividends, from $12.5 million in 2006. Revenue grew to $4.8 million, from $2.7 million. The company said it expects to incur losses for the near future.

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BioTrove also noted that it is working to correct material weaknesses in its internal control over financial reporting.

No further details are available at the moment. Let’s see when this IPO hits the market!

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